PUBLISHER: The Business Research Company | PRODUCT CODE: 1644002
PUBLISHER: The Business Research Company | PRODUCT CODE: 1644002
Cold Heading Quality Wire Global Market Opportunities And Strategies To 2033
Cold heading quality (CHQ) wire is a specialized steel wire engineered for cold heading processes, where metal is shaped at room temperature into components such as fasteners, bolts and others. This wire is integral to industries requiring high-strength, precision-formed parts, including automotive, construction and industrial manufacturing.
The cold heading quality (CHQ) wire market consists of sales, by entities (organizations, sole traders and partnerships), of CHQ wires produced with high surface quality, precise dimensions and uniform mechanical properties to meet stringent demands.
The global cold heading quality wire market was valued at $12,729.50 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.00%.
Increase In Demand For Furniture
The increase in demand for the furniture played a significant role in driving the growth of the CHQ wire market in the historic period. The furniture industry encompasses the design, manufacturing, distribution and retail of various types of furniture for residential, commercial and institutional spaces. The furniture industry is rising due to increasing consumer demand for home improvement, urbanization and a growing focus on interior design and sustainable and customizable products. Cold heading wire is known for its high tensile strength and resistance to fatigue, which makes it ideal for creating durable components. Furniture often requires high-quality, strong metal parts (such as screws, nails and fasteners) to ensure the stability and longevity of the furniture. For example, in March 2024, according to the Furniture Industry Research Association, a UK-based furniture association, the furniture and furnishings sector, including specialist retail, generated a total turnover of over $42.7 billion (£41 billion) in 2022, with more than 29,000 companies and employing over 292,000 people. The sector's manufacturing turnover reached $11.83 billion (£11.35) billion, marking a 10% increase from 2021. Additionally, furniture imports into the UK rose to $8.85 billion (£8.5 billion) in 2022, according to the international trade section of the digest. Therefore, the increase in demand for furniture industry drove the growth of the CHQ wire market.
Expansion Plans To Meet Growing Demand For High-Performance Steel
Companies in the CHQ wire market are focusing on expanding their capacity to offer wires with enhanced strength, durability and resistance to corrosion. For instance, in May 2024, ArcelorMittal, a Luxembourg-based steel company, announced the plans to upgrade its flagship factory in Hazira, Gujarat, with a new 2 million tonne cold rolling mill and an upstream hot strip machine, targeting specialty steel grades. The expansion is driven by the growing demand for high-performance steel, which now makes up more than 60 percent of the body structure in modern automobiles within India's auto industry. This move is aimed at meeting the rising need for advanced materials in the sector.
The global CHQ wire market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 8.6% of the total market in 2023.
Cold Heading Quality Wire Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the cold heading quality wire market as it emerges from the COVID-19 shut down.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
The report covers the following chapters
Markets Covered:
Table of Contents
1 Executive Summary
- 1.1 Cold Heading Quality Wire - Market Attractiveness And Macro economic Landscape
2 Table Of Contents
3 List Of Tables
4 List Of Figures
5 Report Structure
6 Market Characteristics
- 6.1 General Market Definition
- 6.2 Summary
- 6.3 Cold Heading Quality Wire Market Definition And Segmentations
- 6.4 Market Segmentation By Grade
7 Major Market Trends
8 Cold Heading Quality Wire Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Cold Heading Quality Wire Market Segmentation
11 Cold Heading Quality Wire Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape And Company Profiles
20 Competitive Benchmarking
21 Competitive Dashboard
22 Key Mergers And Acquisitions
23 Opportunities And Strategies
24 Cold Heading Quality Wire Market, Conclusions And Recommendations
25 Appendix
