Global Steel Rebars Market Report from MarketsandMarkets highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions. The Steel Rebars Market is approximated to be USD 224.5 billion in 2022, and it is projected to reach USD 317.4 billion by 2030, at a CAGR of 4.4%.
Browse 275 market data Tables and 56 Figures spread through 266 Pages and in-depth TOC on "Steel Rebar Market by Type (Deformed and Mild), Coating Type (Plain Carbon Steel Rebar, Galvanized Steel Rebar, Epoxy-Coated Steel Rebar), Process Type, Bar Size, End-use (Infrastructure, Housing, and Industrial) and Region - Global Forecast to 2030"
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Major Players in Steel Rebar Market Include
- ArcelorMittal (Luxembourg)
- Saudi Iron & Steel Co. (Saudi Arabia)
- Tata Steel Ltd (India)
- Zamil Steel Buildings India Pvt. Ltd. (India)
- Hesteel Group (China)
- Baowu Group (China)
- Shagang Group (China)
- Sabic Hadeed (Saudi Arabia)
- EVRAZ (United Kingdom)
- Nucor (United States)
Steel rebar is also called a reinforcing bar, is mostly used in the construction sector for concrete reinforcement. The concrete can hold heavy load but it is weak in tension. Steel rebar enables concrete to carry tensile load. There are two types of steel bars such as mild steel bars and deformed steel bars. The emergence of a new construction project announced by the government to improve transportation infrastructure and decreasing the prices of steel rebars are the major drivers for the market. Whereas, newly announced of the mega project in the developing countries have been boosting the growth of the market. Additionally, the emergence of advanced thermo-mechanical technology for improving the quality of steel is supplementing the growth of the market. However, rusting of steel decreases the strength, high cost of fabrication and fluctuation in the prices of raw material is limiting the growth of the market.
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Market Drivers Increasing Demand of Steel Rebars due to Rising Funding from Government for Development of Transportation Infrastructure
Decreasing the Prices of Steel Rebars
Market Trend An Emergence of Advanced Thermo-Mechanical Technology for Improving Quality of Steel
Opportunities Upcoming Mega Projects such as The Hong Kong-Zhuhai-Macau Bridge, Beijing Daxing International Airport and others will grow market
Advanced Features such as ductility, high tension, offers perfect shaped beams, and columns
Increasing Research and Development Activities by Established Players
Challenges High Cost of Fabrication Used for Casting Limiting the Growth of the Market
Fluctuation in the Prices of Raw Material Used For Manufacturing Steel Rebars
The Steel Rebars market study is being classified by Type (Mild Steel Bars, Deformed Steel Bars (Thermo Mechanically Treated Bars, High Strength Deformed Bars)), Application (Infrastructure, Housing, Industrial, Others), End User Industry (Construction Industry, Industrial Manufacturing, Oil & Gas Industry, Others), Finishing Type (Epoxy, Black, Coated), Process Type (Basic Oxygen Steelmaking, Electric Arc Furnace)
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By bar size, #4 steel rebar accounted for the largest share in 2021
#4 rebar is thicker than #3 rebar and is best suited for adding strength to medium construction projects like highways and columns and slabs. #4 rebar is made of strong carbon steel composite and used in the residential and light commercial construction industries. #4 reinforcement steel, in particular, is used to pave roads and highways; it can also be used to construct swimming pool frames.
By End Use Industry, the Infrastructure segment accounted for the largest share in 2021
Demand for steel rebar is driven by increasing investment in major infrastructure projects across the world, especially in the Asia Pacific region. Infrastructure is a major end-user of steel rebar. This sector majorly includes projects such as roads, highways, bridge construction, sewage systems, airports, and stadiums, among others. Advancements in steel rebar coatings make it durable for various infrastructure construction
Asia Pacific accounted for the largest share of the Steel Rebar Market in 2021
Low-cost labor and cheap availability of lands in Asia Pacific region attract foreign investments further helping industrial sectors grow rapidly. Rapid economic growth, increasing urbanization, increasing investments by the government to setup new industries and high growth in the infrastructure sector will lead to the increase in construction activities, which helps to increase the demand for steel rebar. China was the region's largest market for steel rebar in 2021, followed by Japan, India, and South Korea. Asia Pacific region is projected to witness a steady increase in consumption between 2022 and 2030.
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