The steel rebar market research offers valuable insights into the global steel rebar industry, its current scenario, and future prospects. Steel rebar, also known as reinforcing bar, is a crucial component in construction projects, providing strength and durability to concrete structures. This research aims to analyze market trends, growth drivers, challenges, and opportunities in the steel rebar sector. It encompasses a comprehensive study of key market players, their product offerings, production capacity, and geographical presence. Furthermore, the report evaluates the demand and supply dynamics, pricing analysis, and competitive landscape of the steel rebar market. The report "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", 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%.
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The scope of this research extends to various application areas, including residential, commercial, and infrastructure projects. It delves into the regional analysis, examining market trends across different regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The research also highlights emerging markets and potential growth opportunities.
Key factors influencing the steel rebar market are identified, such as urbanization, population growth, industrialization, and government infrastructure investments. The report explores technological advancements, sustainable practices, and regulatory frameworks impacting the industry. It also assesses the impact of the COVID-19 pandemic on the steel rebar market and offers insights into post-pandemic recovery strategies.
The deformed steel rebar segment is projected to lead the market during the forecast period
The deformed steel bar segment is the largest and fastest-growing segment by type in the steel rebar market. Deformed bar, formed from carbon steel and provided with ridges for better mechanical anchoring in reinforced concrete, is used in applications such as reinforced concrete slabs, cages, columns, prefabricated beams, and precast products. This deformation of the bar helps in increasing the bond between materials and minimizes slippage in concrete, which is fueling the rapid growth of the deformed bar segment.
Infrastructure segment is projected to be the largest and fastest-growing segment of the steel rebar market by 2025
The infrastructure segment is estimated to have accounted for a major share of the steel rebar market in 2019, followed by the housing, and industrial segments. The use of steel rebar increases the tensile strength of surrounding concrete structures in highways, bridges, and pillar structures. Increasing project counts of highway, bridges, and structural engineering are fueling the growth of the steel rebar market in the infrastructure segment.
Modernization and maintenance of infrastructure projects have led to the increasing demand for steel rebar. Increasing infrastructure projects across the globe, especially in the Asia Pacific, is another major factor driving the growth of the steel rebar market during the forecast period.
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Asia Pacific is projected to be the largest market for steel rebar during the forecast period
The Asia Pacific steel rebar market is projected to grow at the highest CAGR between 2020 and 2025. Growth in this market is attributed mainly to the increasing steel rebar consumption in the construction industry coupled with large steelmaking capacities and consumption of steel rebar in countries such as China, India, Japan, and South Korea.
Increasing building & construction activities supported by a rapidly growing population, need for new residential housing, and major infrastructure investment projects announced in countries like China is expected to create future market avenues for steel rebar industries. In addition, strong policy initiatives such as the mandatory use of domestic steel in government infrastructural projects, shutting of environmentally hazardous blast furnace capacities and increasing use of electric furnace to produce steel rebar from scrap in China and National Steel Policy introduced in India to make the country self-sufficient in terms of steel production are some of the factors expected to support the growth of the domestic steel rebar market. However, currently, the world is facing a crisis related to the outbreak of coronavirus disease by which the world trade, travel, and even the domestic activities have come to a standstill. This is having a severe impact on the Chinese steel industry, which is home to 60% of the worlds steel rebar production.
Key players covered in the report are ArcelorMittal (Luxembourg), Gerdau S.A (Brazil), Nippon Steel & Sumitomo Metal Corporation (Japan), Posco SS Vina, Co. Ltd (Vietnam), Steel Authority of India Limited (India), Tata Steel Ltd. (India), Essar Steel (India), Mechel PAO (Russia), Nucor Corporation (U.S.), Sohar Steel LLC (Oman), Celsa Steel UK (U.K.), Ansteel Group (China), Hyundai Steel (South Korea), Kobe Steel, Ltd. (Japan), Jiangsu Shagang Group Co., Ltd. (China), JFE Steel Corporation (Japan), Commercial Metals Company (U.S.), Daido Steel (Japan), Barnes Reinforcing Industries (pty) Ltd (South Africa), Jindal Steel & Power Ltd. (India), Steel Dynamics, Inc. (U.S.), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel Company (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel Group Inc. (U.S.).
Nippon Steel Corporation (Japan) deals in various segments, such as steelmaking and steel fabrication, engineering, chemicals, and system solutions. The company’s steelmaking and steel fabrication has covered the largest market share. The steelmaking and steel fabrication segment produces and distributes steel sheets, plates, bars and wire rods, pipes and tubes, and machinery parts.