Global Cold Heading Quality Wire Market Assessment, By Grade [Carbon Steel, Mild Steel, Stainless Steel, Alloy Steel, Others], By Manufacturing Technology [HRPPD, SAPPD, DAAPD], By Application [Cold Forged Parts, Fasteners, Bearing, Others], By End-user [Automotive, Furniture, Infrastructure and Construction, Industrial, Others], By Region, Opportunities and Forecast, 2017-2031F

Global cold heading quality wire market is projected to witness a CAGR of 2.93% during the forecast period 2024-2031, growing from USD 17.45 billion in 2023 to USD 21.99 billion in 2031. 

Cold Heading Quality Wire Market Size, Share & Forecast 2031

Global cold heading quality wire market is projected to witness a CAGR of 2.93% during the forecast period 2024-2031, growing from USD 17.45 billion in 2023 to USD 21.99 billion in 2031.
CHQ wire is being used massively for the production of fasteners, automobile parts, and construction components. In addition, CHQ is highly appropriate for cold heading applications in the production of nuts, bolts, rivets, screws, nails, etc. As the quality and safety norms improve for hardware, the demand for high-performance fasteners made from CHQ wire is rising at an exponential rate. Asia-Pacific is considered one of the most promising markets, primarily due to India and China. The governments of the two countries stress the necessity to upgrade regulations and policies concerning the quality of wires utilized in cold heading.
For instance, in February 2024, the Bureau of Indian Standards (BIS) promulgated a Quality Control Order (QCO) for mild steel wires used in cold heading applications. The aim of this order is to fortify the enforcement of the prescribed Indian Standards to further improve the quality and safety of the steel product in view of the public's best interest. This development will increase the demand for quality raw materials for the production of products.
<h2>The rise in Demand for Fasteners is Propelling Market Growth Extensively</h2>
Automobile manufacture as well as infrastructural structures continue to enhance the requirement of fasteners worldwide. The rapid industrialization in manufacturing, construction, or automobiles - escalates the demand for strong fasteners. Improvements in technology have enhanced the strength and performance of such products due to which the demand for CHQ is high in the market. The demand for CHQ wire is due to the requirement of fasteners with high-performance capabilities regarding strapping tighter safety rules, quality standards, and an urge of manufacturers towards this kind of wire due to its reliability and durability, enhanced by the increasing emphasis on sustainability and customizing designs in a fastener. Moreover, due to the growing demand of industries for abrasion-resistant and lightweight construction material, the need for producing fasteners also arises.
For instance, in August 2024, Hangzhou Suntech Machinery Co., Ltd. of China announced to focus on spheroidizing the annealing processes for CHQ wires, which are crucial for the production of fasteners. This development will increase the demand for CHQ in the production of fasteners.
<h2>Increase in the Adoption of Cold Forged Parts Augments Market Growth</h2>
Cold-forged parts are prime products in the fastening and fixing industry which are produced from CHQ wires. CHQ has excellent properties like high durability, design flexibility, etc. CHQ wire is available with special designs for cold forged products so that manufacturers could produce highly efficient bolts, nuts, etc., The product manufactured from CHQ have excellent dimension accuracy and surface quality. The products of cold forging improve the mechanical properties of the wire, and the improvement itself permits the wire to work in extreme weather conditions.
For instance, in June 2024, India's Super Screws Pvt. Ltd., and Mitsuchi Corporation of Japan agreed to form a JV for manufacturing cold forged parts in India. Similarly, the manufacturing facility to be established in the country through this joint venture will cater not only to the needs of the country but also export into other markets around the world. The collaboration between Super Screws Pvt Ltd. and Mitsuchi Corporation is an amalgamation of Super Screws' outstanding capabilities in the engineering domain with highly sophisticated production techniques provided by Mitsuchi Corporation. The new program will give an upward curve to the growth rate in the use of cold-forged parts within the country and elsewhere in the world.
Additionally, in February 2024, CRU International Ltd launched a new European CHQ wire rod pricing assessment to meet the increasing demand for the fastener and fixing industry. The new CHQ wire rod assessment covers the 20MnB4 grade, defined by its chemical composition, including manganese with 0.90-1.00% and boron with 0.002-0.0004%. The core size of the products ranges between 5 mm to 15 mm.
<h2>Rapid Technological Developments of CHQ Wires to Fuel Market Growth</h2>
Companies around the world are also engineering technological advancements related to CHQ wires, which are manufactured using steel wires. The automotive and construction industries demand higher-grade material, and thus the technological advancements of CHQ wires have been recognized as inescapable in order to meet particular demands. Furthermore, these developments increase product reliability and allow manufacturers to reduce expenses connected with manufacturing processes.
For instance, in April 2024, at the Wire and Tube trade fair in D&uuml;sseldorf, Germany, ArcelorMittal showcased its latest developments in bars, rods, and wire solutions, thereby highlighting its determination to progress in the steel wire market. ArcelorMittal&rsquo;s drawing wire division, WireSolutions, presented an extensive product line that featured cold-heading quality materials. Moreover, ArcelorMittal announced that these products have been developed to keep up with the growing need for high-performance materials across a variety of industries such as construction, automotive sectors, etc.
Government Initiatives to Act as a Catalyst
Government policies and programs have been one of the key driving factors for the steel wire industry where CHQ wires are witnessing accelerated production. The framework of governmental regulation enhances competitiveness and is in synergy with greater objectives for economic development and infrastructure building. Therefore, the demand for these sectors at large would also lead to higher demand in the automotive, real estate, and construction sectors. These regulations encourage innovation and investment in new technology, which will enable manufacturers to improve their productions even more in the future. Moreover, with the concern of the future of this world due to the increase of environmental issues, government initiatives, which will fuel sustainable manufacturing, are becoming critical, thus increasing the demand for eco-friendly CHQ wire solutions. It meets all the regulatory requirements as well as the changing preferences of eco-aware consumers and companies.
In April 2023, the World Steel Association report indicated that steel consumption for 2023, including steel wire, rose by 2.3% to reach 1,822.3 million metric tons and is expected to grow at a rate of 1.7% to reach 1,854.0 million metric tons in 2024. The growth in steel wire consumption is fueled by the rising need for high-strength, lightweight materials and the continuous expansion of infrastructure projects, thereby enhancing CHQ wire's market potential.
Asia-Pacific to Emerge as a Market Leader
Cold heading quality wire has been consumed and produced mostly in Asia-Pacific due to the availability of ample steel resources in the region. It is also driven by the growing disposable income and infrastructural facilities, wherein the China is the largest consumer and producer of the products of steel. Additionally, steel wire production is crucial in China as it provides the necessary raw materials to produce CHQ wires with high adaptability and durability. Furthermore, the increased production rate of steel wire benefits the automotive and construction industries, which are the primary users of CHQ wire.
Furthermore, India has today emerged as one of the major steel wire manufacturing countries in this region and, nowadays, the country has become more concentrating on the consumption of steel wire rods for different applications in various industries such as automotive, construction, etc. According&nbsp;to Society of Indian Automobile Manufacturers (SIAM) states that in FY2024, the passenger vehicle (PV) segment in India witnessed impeccable growth, registering a massive 8.4% surge in sales, accounting for total sales of around 5 million units. The massive growth in PV sales has led to an increase in demand for forged automotive parts, which are produced from CHQ wires.
<a href="https://www.marketsandata.com/industry-reports/cold-heading-quality-wire-market/sample-request">Download Free Sample Report</a>
Future Market Scenario (2024 &ndash; 2031F)
<ul>
<li>The governments are focusing on the properties of CHQ wires, thereby making material suitable for usage in the aerospace and defense industry which in turn will lead to ample opportunities for market growth in the upcoming years.</li>
<li>Majorly all industries are prioritizing sustainability which is increasing the demand for lightweight and high-strength materials, The CHQ wire aligning with environmental goals which drive its demand in the market. Consequently, the shifting preferences are expected to create substantial opportunities for market growth in the forecast period.</li>
<li>Research and development (R&amp;D) in CHQ wires is crucial in driving innovation and increasing product quality. Continuous R&amp;D will enable the manufacturers to raise the level of strength, ductility, and performance of CHQ wires which opportunities for market expedition in the forecast period.</li>
<li>Furthermore, the rise in expenditure towards the development of construction projects is increasing the CHQ wire demand to manufacture nuts, bolts, and screws, which, in turn, is anticipated to provide a huge opportunity for market growth over the forecast period.</li>
</ul>
Report Scope
&ldquo;Cold Heading Quality Wire Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global cold heading quality wire market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
<table>
<tbody>
<tr>
<td width="301">
Report Attribute
</td>
<td width="301">
Details
</td>
</tr>
<tr>
<td width="301">
Base Year of the Analysis
</td>
<td width="301">
2023
</td>
</tr>
<tr>
<td width="301">
Historical Period
</td>
<td width="301">
2017-2022
</td>
</tr>
<tr>
<td width="301">
Forecast Period
</td>
<td width="301">
2024-2031
</td>
</tr>
<tr>
<td width="301">
Projected Growth Rate
</td>
<td width="301">
CAGR of 2.93% between 2024 and 2031
</td>
</tr>
<tr>
<td width="301">
Revenue Forecast in 2031
</td>
<td width="301">
USD 21.99 billion
</td>
</tr>
<tr>
<td width="301">
Segments Covered
</td>
<td width="301">
Grade, Manufacturing Technology, Application, End-user
</td>
</tr>
<tr>
<td width="301">
Regions Covered
</td>
<td width="301">
North America, Europe, Asia-Pacific, South America, Middle East and Africa
</td>
</tr>
<tr>
<td width="301">
Key Companies Profile
</td>
<td width="301">
Taubensee Steel &amp; Wire Company, ArcelorMittal SA, Nippon Steel Corporation, Syscon Wires Pvt. Ltd., Shanghai Metal Corporation, Voestalpine Wire Germany GmbH, Tata Steel Limited, Precision Drawell Pvt Ltd., CMC Poland Sp. z o.o., Woosin Steel Corp., Sivaco Inc., Osaka Seiko, Ltd.
</td>
</tr>
<tr>
<td width="301">
Customization Scope
</td>
<td width="301">
15% free report customization with purchase
</td>
</tr>
<tr>
<td width="301">
Pricing and Purchase Options
</td>
<td width="301">
Avail the customized purchase options to fulfill your precise research needs
</td>
</tr>
<tr>
<td width="301">
Delivery Format
</td>
<td width="301">
PDF and Excel through email (subject to the license purchased)
</td>
</tr>
</tbody>
</table>
In the report,&nbsp;global&nbsp;cold heading quality wire market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Grade
<ul>
<li>Carbon Steel</li>
<li>Mild Steel</li>
<li>Stainless Steel</li>
<li>Alloy Steel</li>
<li>Others</li>
</ul>
</li>
<li>By Manufacturing Technology
<ul>
<li>HRPPD (Hot Rolled Pickling, Phosphating and Drawing)</li>
<li>SAPPD (Spherodized Annealed, Pickling, Phosphating and Drawing)</li>
<li>DAAPD (Drawing, Spherodized Annealed, Pickling, Phosphating and Final Drawing)</li>
</ul>
</li>
<li>By Application
<ul>
<li>Cold Forged Parts</li>
<li>Fasteners</li>
<li>Bearing</li>
<li>Others</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Automotive</li>
<li>Furniture</li>
<li>Infrastructure and Construction</li>
<li>Industrial</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The market leaders of CHQ wires are continuously competing to gain a significant edge. These organizations are investing heavily in research and development activities for CHQ wires, leading to some of the most advanced wire manufacturing technologies. Moreover, the CHQ firms are getting involved in various strategic partnerships for the introduction of various steel wire projects, thereby increasing market competition.
In April 2024, Voestalpine Wire Germany GmbH, achieved a significant milestone by producing the world&rsquo;s first high-quality green wire rods made up of hydrogen-reduced pure iron and scrap at its Donawitz plant, which is crucial for CHQ wire manufacturing. The innovative process aims to reduce carbon emissions in wire production. Moreover, the resulting wire rod is characterized by exceptional hardness and wear resistance, thereby making it suitable for various applications. &nbsp;
Key Players Operating in Global Cold Heading Quality Wire Market are:
<ul>
<li>Taubensee Steel &amp; Wire Company</li>
<li>ArcelorMittal SA</li>
<li>Nippon Steel Corporation</li>
<li>Syscon Wires Pvt. Ltd.</li>
<li>Shanghai Metal Corporation</li>
<li>Voestalpine Wire Germany GmbH</li>
<li>Tata Steel Limited</li>
<li>Precision Drawell Pvt Ltd.</li>
<li>CMC Poland Sp. z o.o.</li>
<li>Woosin Steel Corp.</li>
<li>Sivaco Inc.</li>
<li>Osaka Seiko, Ltd.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul>
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
If you can't find what you're searching for or have any custom requirements for global cold heading quality wire market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>

Global Cold Heading Quality Wire Market Assessment, Opportunities and Forecast, FY2017-FY2031F

The global cold heading quality wire market is driven by the increase in adoption of cold forged parts, increasing demand for fasteners in industries such as automotive, construction, and aerospace, fueling the need for high-quality cold heading quality wire, further supporting the expansion of the market.

FAQs

Industry Reports

Blogs

Case Studies

Industry News

Press Release

Infographics