United States's Stranded Wire Market to Experience Slight Growth with CAGR of +1.6% from 2024 to 2035 - News and Statistics - IndexBox

Mar 30, 2025

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IndexBox has just published a new report: U.S. - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights.

The article discusses the expected growth in the market for stranded wire in the United States, with a forecasted CAGR of +1.6% in volume and +3.2% in value from 2024 to 2035. By the end of 2035, the market volume is projected to reach 873K tons, and the market value is expected to reach $2.6B (in nominal wholesale prices).

Driven by rising demand for stranded wire in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market volume to 873K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2024 to 2035, which is projected to bring the market value to $2.6B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of stranded wire, ropes and cables consumed in the United States shrank to 731K tons, declining by -10.9% against 2023. Overall, consumption continues to indicate a perceptible descent. Stranded wire consumption peaked at 928K tons in 2016; however, from 2017 to 2024, consumption failed to regain momentum.

The value of the stranded wire market in the United States declined significantly to $1.8B in 2024, waning by -16.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a noticeable descent. Stranded wire consumption peaked at $2.4B in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

In 2024, approx. 223K tons of stranded wire, ropes and cables were produced in the United States; waning by -17.1% compared with the previous year's figure. Overall, production recorded a abrupt contraction. The pace of growth was the most pronounced in 2023 with an increase of 52%. Over the period under review, production attained the peak volume at 614K tons in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, stranded wire production fell to $1.7B in 2024. In general, production continues to indicate a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 44% against the previous year. As a result, production attained the peak level of $4.6B. From 2017 to 2024, production growth failed to regain momentum.

In 2024, supplies from abroad of stranded wire, ropes and cables decreased by -8.2% to 596K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.2% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 with an increase of 30% against the previous year. As a result, imports attained the peak of 708K tons. From 2023 to 2024, the growth of imports failed to regain momentum.

In value terms, stranded wire imports declined sharply to $1.5B in 2024. In general, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2022 when imports increased by 65%. As a result, imports attained the peak of $2.1B. From 2023 to 2024, the growth of imports failed to regain momentum.

Vietnam (135K tons), India (84K tons) and China (74K tons) were the main suppliers of stranded wire imports to the United States, with a combined 45% share of total imports.

From 2013 to 2023, the biggest increases were recorded for India (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stranded wire suppliers to the United States were India ($295M), Vietnam ($200M) and Mexico ($192M), together accounting for 38% of total imports.

India, with a CAGR of +39.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated (476K tons) constituted the largest type of stranded wire, ropes and cables supplied to the United States, with a 81% share of total imports. Moreover, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated exceeded the figures recorded for the second-largest type, aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (104K tons), fivefold.

From 2013 to 2024, the average annual growth rate of the volume of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated imports totaled +1.1%. With regard to the other supplied products, the following average annual rates of growth were recorded: aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+11.7% per year) and copper stranded wire, cables and plaited bands (-11.2% per year).

In value terms, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($989M) constituted the largest type of stranded wire, ropes and cables supplied to the United States, comprising 69% of total imports. The second position in the ranking was held by aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) ($392M), with a 27% share of total imports.

From 2013 to 2024, the average annual rate of growth in terms of the value of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated imports was relatively modest. With regard to the other supplied products, the following average annual rates of growth were recorded: aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+13.9% per year) and copper stranded wire, cables and plaited bands (-7.0% per year).

In 2024, the average stranded wire import price amounted to $2,543 per ton, shrinking by -8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the average import price increased by 27%. As a result, import price reached the peak level of $2,921 per ton. From 2023 to 2024, the average import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was copper stranded wire, cables and plaited bands ($14,720 per ton), while the price for stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($2,077 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper stranded wire (+4.7%), while the prices for the other products experienced mixed trend patterns.

The average stranded wire import price stood at $2,765 per ton in 2023, which is down by -5.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $2,921 per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Mexico ($4,362 per ton), while the price for Malaysia ($1,187 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

After three years of growth, shipments abroad of stranded wire, ropes and cables decreased by -10.1% to 87K tons in 2024. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 71% against the previous year. Over the period under review, the exports attained the peak figure at 159K tons in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

In value terms, stranded wire exports dropped to $767M in 2024. In general, exports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, the exports hit record highs at $909M in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

Canada (46K tons), Mexico (29K tons) and China (2.8K tons) were the main destinations of stranded wire exports from the United States, with a combined 81% share of total exports. Chile and Brazil lagged somewhat behind, together comprising a further 3.2%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +16.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for stranded wire exported from the United States were Canada ($327M), Mexico ($293M) and China ($20M), together comprising 77% of total exports. Chile and Brazil lagged somewhat behind, together comprising a further 2.8%.

Chile, with a CAGR of +14.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated (51K tons), copper stranded wire, cables and plaited bands (33K tons) and aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (2.9K tons) were the main products of stranded wire exports from the United States.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by copper stranded wire, cables and plaited bands (with a CAGR of -3.2%), while the other products experienced a decline.

In value terms, stranded wire, ropes and cables with the largest exports in the United States were copper stranded wire, cables and plaited bands ($410M), stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($341M) and aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) ($21M).

Among the main product categories, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated, with a CAGR of +0.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced a decline.

In 2024, the average stranded wire export price amounted to $8,781 per ton, surging by 3% against the previous year. Over the period under review, export price indicated a perceptible increase from 2013 to 2024: its price increased at an average annual rate of +4.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, stranded wire export price increased by +51.8% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 56%. As a result, the export price reached the peak level of $9,548 per ton. From 2017 to 2024, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was copper stranded wire, cables and plaited bands ($12,305 per ton), while the average price for exports of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($6,658 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+5.4%), while the prices for the other products experienced more modest paces of growth.

The average stranded wire export price stood at $8,525 per ton in 2023, remaining constant against the previous year. In general, export price indicated a notable increase from 2013 to 2023: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, stranded wire export price increased by +47.4% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of 56%. As a result, the export price reached the peak level of $9,548 per ton. From 2017 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Brazil ($12,193 per ton), while the average price for exports to Chile ($5,732 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the stranded wire market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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A Quick Overview of Market Performance

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Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles