Steel Rebar Market:
Growth opportunities in the steel rebar market look promising over the next six years. This is mainly due to the changing standards of living resulting in an increase in investment in the infrastructure sector and the rising rate of population.
Steel Rebar Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The growing population, altering living standards of consumers, and rapid urbanization are the key drivers stimulating the growth of the global steel rebar market. Various leading organizations, like Organization for International Economic Relations (OiER), The World Smart Cities Organization (WSCO), and World Smart Sustainable Cities Organization (WeGO), have been promoting the regional governments to raise expenditure on infrastructural projects throughout the world. This has resulted in the expansion of the construction sector, thus surging construction activities in developing countries, especially Saudi Arabia, India, and China, and a switch towards the use of improved steel rebar grades. All these factors will further fuel the market growth. However, the instability in the prices of raw materials may curb the growth of the steel rebar market share. Also, the outbreak of the COVID-19 pandemic has resulted in the cancellation of contracts to control expenses, shortage of materials and subcontractors, and supply chain disruption are projected to hinder the market growth.
End-Use Segment Drivers
Based on end-use, the market is segmented into housing, industrial, and infrastructure. Amongst which, infrastructure is predicted to lead the market during the forecast period. This is attributed to the comprehensive usage of steel rebar in many infrastructure projects, including locks, bridges, dams, piers, highways, buildings, locks, docks, and pillar structures. These steel rebars also help to reinforce slabs, grinders, pavements, columns, beams, and prestressed and precast concrete structures.
Regional Drivers
On the basis of regional coverage, Asia-Pacific is expected to witness a higher CAGR during the forecast period owing to the rising economies of India, Bangladesh, Sri Lanka, China, South Korea, and Indonesia, accompanied by growing construction projects. The accelerating population, along with the increase in per capita disposable incomes has further surged the growth in demand for residential and commercial building applications. The expansion in steel rebar consumption in housing and infrastructural projects by construction industries is contributing to the market growth.
Steel Rebar Market’s leading Manufacturers:
- JFE Steel Corporation
- Tata Steel Limited
- Steel Authority of India Limited
- Gerdau S/A
- Nippon Steel
- Sohar Steel Group
- Nucor Corporation
- Steel Dynamics, Inc., Corporation
- ArcelorMittal
- Mechel PAO
Steel Rebar Market Segmentation:
Segmentation by Type:
- Deformed
- Mild
Segmentation by Process:
- Basic Oxygen Steelmaking
- Electric Arc Furnace
Segmentation by End-Use:
- Infrastructure
- Housing
- Industrial
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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