Steel wire industry to be driven by Asia Pacific demand
Emerging Asian markets, excluding China, are expected to drive the growth of steel wire markets to US$27.9 billion by 2017. According to the Steel Wire Market report by Global Industry Analysts, infrastructure expansion and higher disposable incomes leading to greater ownership of consumer durables and cars in these markets comprise the primary factors driving the rise.
American demand for the metal is also expected to improve along with the gradual recovery in the construction and automobile sectors. In all, the global steel wire market is expected to grow in response to the expected compounded annual growth rate of 5.4% for the Asia-Pacific region, led by markets such as China, South Korea, India and Indonesia.
Find out more about industry trends in both ferrous and non-ferrous scrap metals at the World Scrap Metal Congress 2012 held in Shanghai, China on 20 and 21 September. Get all the updated news, access emerging supplier markets and explore new trading opportunities with global and Asian partners at the conference!