South & Central America Steel Wire Rope Market Forecast to 2031 - Regional Analysis

Description

List of Tables

The South & Central America steel wire rope market was valued at US$ 661.19 million in 2023 and is expected to reach US$ 858.96 million by 2031; it is estimated to register a CAGR of 3.3% from 2023 to 2031.

Increasing Demand for Galvanized Steel Wire Ropes Fuel South & Central America Steel Wire Rope Market

A galvanized wire rope is a steel wire rope coated in a layer of zinc. The coating helps protect the steel from moisture in the air, preventing the wire rope from being susceptible to rust. Galvanized wire rope is ideal for use in marine locations where the wire rope is exposed to wet, damp, and humid conditions. This type of rope also helps prevent the inner steel from degrading from rust deposits.

There are several benefits of galvanized wire rope. It is cheaper than stainless steel wire rope, lighter than stainless steel, and available in steel core or fiber core. Galvanized wire ropes are also available in different constructions. Each type of wire rope construction is suited for different purposes. A wire rope with a thicker diameter is more abrasion and crush-resistant, whereas a thinner-diameter rope provides flexibility and bendability. In addition, the coating of galvanized wire rope offers enhanced protection against rust and corrosion. Also, galvanized wire ropes are used in various applications as an alternative to stainless steel. Thus, the increasing demand for galvanized steel wire ropes is expected to provide growth opportunities for the steel wire rope market in the coming years.

South & Central America Steel Wire Rope Market Overview

According to the International Trade Administration, Brazil launched a 2022-2032 Energy Expansion Plan to attain an oil production capacity of 4.9 million barrels of oil per day by 2032, wherein pre-salt fields accounted for 80% of total production. According to a report published by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) in 2022, Brazil had the largest ultra-deep oil reserves, accounting for 97.6% of Brazil's offshore oil production. According to the US Energy Information Administration, Brazil has ~13 billion barrels of oil reserves, which is the second largest in South & Central America after Venezuela. The region also marks the presence of several shipping companies, such as Latin American Cargo, Seaspace International, South American Shipping, and Navios South American Logistics Inc.

According to a report published by the International Energy Agency in 2023, Latin America's share of global copper exploration expenditure increased from 35% to 45% during 2012-2022, which indicates potential for mining production growth. As of 2023, countries in Latin America supplied 35% of the global lithium, including Chile (26%) and Argentina (6%). In the marine industry, stainless steel wire rope is used for several applications, such as lifting, mooring, and towing operations. In the mining industry, steel wire rope is used in material handling operations and resource transportation. Thus, the growth of shipping and marine transportation and the rise in mining operations fuel the demand for steel wire ropes in South & Central America.

South & Central America Steel Wire Rope Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Steel Wire Rope Market Segmentation

The South & Central America steel wire rope market is categorized into type, product type, end use, and country.

Based on product type, the South & Central America steel wire rope market is segmented into stainless steel wire rope, galvanized steel wire rope, carbon steel wire ropes, and coated steel wire ropes. The galvanized steel wire rope segment held the largest South & Central America steel wire rope market share in 2023.

In terms of type, the South & Central America steel wire rope market is segmented into regular lay and lang lay. The regular lay segment held a larger South & Central America steel wire rope market share in 2023.

By end use, the South & Central America steel wire rope market is divided into mining, oil and gas, building and construction, marine and fishing, and others. The building and construction segment held segment held the largest South & Central America steel wire rope market share in 2023.

Based on country, the South & Central America steel wire rope market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America steel wire rope market share in 2023.

Usha Martin Ltd, ArcelorMittal SA, PFEIFER Holding GmbH & Co. KG, WireCo, and Bekaert are some of the leading companies operating in the South & Central America steel wire rope market.

Product Code: BMIRE00031607

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.3 Limitations and Assumptions

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. South & Central America Steel Wire Rope Market Landscape

4.1 Overview
4.2 Porters Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturers:
- 4.3.3 Distributors/Suppliers:
- 4.3.4 End-Use Industry:

5. South & Central America Steel Wire Rope Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Strong Growth in Building and Construction Industry
- 5.1.2 High Demand for Steel Wire Ropes from Oil & Gas Industry
5.2 Restraint
- 5.2.1 Fluctuations in Prices of Raw Materials
5.3 Opportunity
- 5.3.1 Increasing Demand for Galvanized Steel Wire Ropes
5.4 Future Trend
- 5.4.1 Focus on Recycling Steel Wire Ropes
5.5 Impact Analysis

6. Steel Wire Rope Market - South & Central America Analysis

6.1 South & Central America Steel Wire Rope Market Volume (Kilo Tons), 2021-2031
6.2 South & Central America Steel Wire Rope Market Volume Forecast and Analysis (Kilo Tons)
6.3 South & Central America Steel Wire Rope Market Revenue (US$ Million), 2023-2031
6.4 South & Central America Steel Wire Rope Market Forecast and Analysis

7. South & Central America Steel Wire Rope Market Analysis - by Product Type

7.1 Stainless Steel Wire Rope
- 7.1.1 Overview
- 7.1.2 Stainless Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
- 7.1.3 Stainless Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Galvanized Steel Wire Rope
- 7.2.1 Overview
- 7.2.2 Galvanized Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
- 7.2.3 Galvanized Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Carbon Steel Wire Ropes
- 7.3.1 Overview
- 7.3.2 Carbon Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
- 7.3.3 Carbon Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Coated Steel Wire Ropes
- 7.4.1 Overview
- 7.4.2 Coated Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
- 7.4.3 Coated Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

8. South & Central America Steel Wire Rope Market Revenue Analysis - by Type

8.1 Regular Lay
- 8.1.1 Overview
- 8.1.2 Regular Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Lang Lay
- 8.2.1 Overview
- 8.2.2 Lang Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

9. South & Central America Steel Wire Rope Market Revenue Analysis - by End Use

9.1 Mining
- 9.1.1 Overview
- 9.1.2 Mining: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Oil and Gas
- 9.2.1 Overview
- 9.2.2 Oil and Gas: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Building and Construction
- 9.3.1 Overview
- 9.3.2 Building and Construction: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Marine and Fishing
- 9.4.1 Overview
- 9.4.2 Marine and Fishing: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

10. South & Central America Steel Wire Rope Market - Country Analysis

10.1 South and Central America
- 10.1.1 South and Central America Steel Wire Rope Market by Key Countries, 2023 and 2031 (%)
  - 10.1.1.1 South and Central America Steel Wire Rope Market Volume and Forecast and Analysis - by Country
  - 10.1.1.2 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.3 Brazil Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.3.1 Brazil Steel Wire Rope Market Breakdown by Product Type
    - 10.1.1.3.2 Brazil Steel Wire Rope Market Breakdown by Type
    - 10.1.1.3.3 Brazil Steel Wire Rope Market Breakdown by End Use
  - 10.1.1.4 Argentina Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.4.1 Argentina Steel Wire Rope Market Breakdown by Product Type
    - 10.1.1.4.2 Argentina Steel Wire Rope Market Breakdown by Type
    - 10.1.1.4.3 Argentina Steel Wire Rope Market Breakdown by End Use
  - 10.1.1.5 Rest of South and Central America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.5.1 Rest of South and Central America Steel Wire Rope Market Breakdown by Product Type
    - 10.1.1.5.2 Rest of South and Central America Steel Wire Rope Market Breakdown by Type
    - 10.1.1.5.3 Rest of South and Central America Steel Wire Rope Market Breakdown by End Use

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition

13. Company Profiles

13.1 Usha Martin Ltd
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 ArcelorMittal SA
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 PFEIFER Holding GmbH & Co. KG
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 WireCo
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Bekaert
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments

14. Appendix

14.1 About The Insight Partners