The steel rebar industry is a sector within the construction industry that focuses on the production and distribution of steel reinforcement bars, commonly known as rebar. Rebar is used extensively in reinforced concrete structures to provide strength and stability. It is typically made of carbon steel and has a ribbed surface to improve its bond with the concrete. The steel rebar 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”
Rebar is essential in various construction projects such as buildings, bridges, highways, tunnels, and other infrastructure projects. It is primarily used to reinforce concrete structures and withstand tension forces, ensuring the integrity and durability of the construction.
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As for the market trend for rebar, it can be influenced by several factors:
- Construction industry growth: The demand for rebar is closely tied to the growth and activity in the construction sector. Economic development, population growth, urbanization, and infrastructure projects all contribute to the demand for rebar.
- Government infrastructure spending: Government investments in infrastructure projects, such as roads, bridges, and utilities, can significantly impact the demand for rebar. Increased infrastructure spending tends to drive the demand for steel rebar.
- Construction regulations and standards: Building codes and regulations that mandate the use of reinforced concrete structures contribute to the demand for rebar. Stringent safety and quality standards in construction can drive the market for rebar.
- Steel prices and availability: The cost and availability of steel, which is the primary material for rebar, can influence its market trend. Fluctuations in steel prices, as well as the availability of raw materials, can impact the overall rebar market.
- Technological advancements: Innovations in manufacturing processes, such as the use of advanced alloys or alternative materials, can affect the rebar market. New technologies that improve the strength, durability, and cost-effectiveness of rebar may influence market trends.
- Sustainability and environmental concerns: Increasing awareness and emphasis on sustainable construction practices may drive the demand for eco-friendly and recycled rebar. The market trend may shift towards greener alternatives as environmental considerations become more important.
Steel Rebar Market Key Players:
The Steel Rebar Market comprises major players such as Nippon Steel Corporation (Japan), ArcelorMittal (Luxembourg), Tata Steel Limited (India), Nucor Corporation (US), NLMK Group (Russia), Gerdau SA (Brazil), Commercial Metals Company (US), Steel Authority of India Limited (India), Mechel PAO (Russia), Steel Dynamics Inc. (US), and others are covered in the steel rebar market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the steel rebar market.
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ArcelorMittal (Luxembourg), produces blooms, rebar, billets, wire rods, sections, sheet piles, rails, and drawn wires, along with seamless and welded tubular products. ArcelorMittal offers a wide range of standard and special rebar for use in reinforced concrete structures in all possible fields of application. The company has steel manufacturing plants in 16 countries and serves its customers in 155 countries across the globe in different end-use industries such as automotive, construction, appliances, energy, transport, and machinery. ArcelorMittal is the largest steel manufacturer in North America, South America, and Europe.
By coating type, plain carbon steel rebar accounted for the largest share in 2021
Plain carbon steel rebar is preferable due to its low cost and durability. It is the most common type of rebar used on every size and type of project. As the name says, it is made of carbon steel and is also known as a black bar due to its carbon color. The main disadvantage is that they don’t have a corrosion resistance layer, which increases the risk of being exposed to moisture and getting corroded.
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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.
