Steel Rebars Market

Steel Rebars Market Research, 2032

[ 170 + Pages Research Report ] Steel Rebars Market to surpass USD 383 billion by 2032 from USD 231.4 billion in 2021 at a CAGR of 4.7% in the coming years, i.e., 2022-32.

Rebars are steel bars that are used to strengthen concrete under tension. They are also known as reinforcement steel or reinforcing steel owing to their use as a tension device in reinforced masonry and reinforced concrete structures. Steel Rebars increase the tensile strength of concrete as concrete is very weak in tension. Steel rebars are available in different sizes, grades, and varieties to meet the wide range of construction demands. They are used in the construction of bridges, houses, roads, and owing to its properties such as reduced spalling joints, high durability, and high impact resistance.

Market Highlights

Steel Rebars market is expected to project a notable CAGR of 4.7% in 2032.

Flourishing residential and non-residential construction activities, growing demand of steel rebars in developing nations, and growing government expenditure on various developmental projects is driving the growth of Steel Rebars market.

Steel Rebars Market: Segments

Deformed segment to hold the largest market share during the forecast period 2022-32

Steel Rebars market is classified on the basis of type into Deformed, and Mild. Deformed segment to hold the largest market share during the forecast period. The growth is attributed to the low cost and wide application of deformed steel rebars in commercial, residential and industrial structures. Deformed steel rebars have greater ductility, toughness, corrosion & earthquake resistance, high yield strength, and greater malleability in comparison to mild steel rebars. The deformed surface minimizes slippage in concrete and helps in the bond between materials.

Infrastructure segment to hold the largest market share during the forecast period 2022-32

Steel Rebars market is classified on the basis of end-use into Infrastructure, Residential, Industrial, and Others. Infrastructure segment is to hold the largest market share during the forecast period. The growth is attributed to the growing demand of steel rebars in infrastructure projects including dams, bridges, highways, and stadiums. Moreover, growing investments on the development of infrastructure is propelling the growth of the segment.

Market Dynamics                                            

Drivers

Growing Demand in Developing Nations

The demand of steel rebars is growing exponentially in developing nations which is driving the market growth. Rapid urbanization, industrialization, rising disposable income, growing investments and increasing population in developing countries have induced infrastructural development projects such as roads, dams, airports, bridges, etc. Furthermore, huge government expenditure on the development of smart cities and housing projects and the huge presence of key market players are contributing to the growth of Steel Rebars market.

Flourishing Construction Industry

Growing number of residential and non-residential construction activities have induced the demand for steel rebars. Growing demand for higher grade levels of steel rebar in the construction industry is fueling the growth of Steel Rebars market. Moreover, growth of thermo-mechanical technology which aids in enhancing the quality of steel rebars is also propelling the growth of the market.

Restraint

Lack of Skilled Labor and Awareness along with High Costs

The major factors restraining the market growth are the lack of skilled labor and lack of proper awareness related to steel rebars. Furthermore, high costs of manufacturing steel rebar are also hindering the growth of the market.

Recent Developments

• In February 2022, Volunteer Rebar was acquired by Fabco, LLC, a leading supplier of steel rebars.
• In January 2020, ArcelorMittal won a supply contract of rebar for the construction of a new LNG Terminal near Kuwait City.

Steel Rebars Market: Key Players

• DAIDO STEEL Co. Ltd.
• Acerinox S.A.
• ArcelorMittal
• CMC
• Gerdau S/A
• HBIS GROUP
• POSCO
• SAIL
• SHAGANG GROUP Inc.
• JSW Steel
• Tata Steel
• NLMK
• Steel Dynamics, Inc.
• NIPPON STEEL CORPORATION
• Nucor
• Other Prominent Players

Steel Rebars Market: Regions

Steel Rebars market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is dominating the global market with the largest share. Rising industrial activities, growing investments, rising government expenditure on housing schemes, and the development of smart cities are driving the growth of Steel Rebars Market in the region. Growing number of construction projects owing to urbanization and industrialization is contributing to the market growth.

Impact of Covid-19 on Steel Rebars Market

Covid-19 has adversely affected economies around the globe. Nationwide lockdown regulations were imposed in many countries to control the spread of the virus and social distancing norms were strictly implemented by the authorities. The pandemic disrupted the supply chains, and procurement of raw materials and led to a huge shortage of skilled labor. Covid-19 had a negative impact on Steel Rebars market as production activities were halted and the demand sharply declined.

Steel Rebars Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Steel Rebars Market report also contains analysis on:

Steel Rebars Market Segments:

• By Type  
  • Deformed
  • Mild 
• By Process 
  • Basic Oxygen Steelmaking
  • Electric ARC Furnace 
• By End-Use
  • Infrastructure
  • Residential
  • Industrial
  • Others 
• Steel Rebars Market Dynamics
• Steel Rebars Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Steel Rebars Market Report Scope and Segmentation

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