Market Research Future (MRFR) has published on the “Global Steel Rebars Market”.
The Steel Rebars market is estimated to register a CAGR of 4.9% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Steel Rebars market— ArcelorMittal (Luxembourg), Nucor (US), Nippon Steel Corporation (Japan), NLMK (Russian Federation), Tata Steel (India), JSW (India), Shagang Group Inc (China), Steel Authority of India Limited (SAIL) (India), POSCO (South Korea), HBIS Group (China), Gerdau S/A (Brazil), Commercial Metals Company (CMC) (US), Acerinox S.A (Spain), Daido Steel Co Ltd (Japan), Steel Dynamics, Inc (US).
The global Steel Rebars market is accounted for to register a CAGR of 4.9% during the forecast period and is estimated to reach USD 318427.5 million by 2030.
The industry for steel rebar is expected to expand, along with steel rebar's innovation and development, which will open up lucrative business opportunities for established and emerging market players. High-end applications for steel rebar and fast technological advances are fostering ongoing innovation in the market. Fe-500, Fe-550, and Fe-500D are among the most recently released grades. Modern steel rebar that has been epoxy coated is corrosion-resistant, can withstand earthquakes, and is being used more and more. Increasing government support for public transportation, rising urbanization, and expanding infrastructure are a few factors that are anticipated to support industry expansion.
Furthermore, public support for housing is a significant contributor to the expansion of the residential construction sector. Low-income households can get subsidies and financial aid from the government. With the help of these incentives, it is simpler for consumers to obtain low-interest loans to buy or construct a new home. Thermo-mechanical technology can be used to improve the characteristic properties of steel rebar, such as high tension, flexibility, and the capacity to supply precisely shaped columns and beams with a specific amount of concrete cover. Governments worldwide are promoting the use of high-strength rebar in building construction. Mild steel reinforcing bars' share of the global market has decreased. China's Ministry of Housing and Urban-Rural Development recommends earthquake-resistant and highly effective deformed steel rebar.
The global Steel Rebars market has been segmented based on Type, End-Use and Region.
The global Steel Rebars Market segmentation, based on Type has been segmented as Mild and Deformed. Among these, the Deformed type is anticipated to dominate the global Steel Rebars market revenue through the projected period as estimated by MRFR analysts.
The development of construction industry will boost the market of deformed steel rebars as they are significantly used in this industry for offering structural integrity and strength to the structures. They are also used within the concretes for reinforcing the foundation along with helping in distributing loads from structures to the bedrock. Thus, the increasing investments in constructional activities will positively impact the market of steel rebars.
In the End-Use segment, the market is categorized as Infrastructure, Residential and Commercial. Out of which the infrastructure segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. rapid urbanization and population growth will drive the need for improved and new infrastructure. Also, the repair, replacement or maintenance of existing infrastructure will create wide growth opportunities for steel rebars in the estimated timeframe.
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By Region, the Steel Rebars market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Steel Rebars market holds a considerable market share and is also forecasted to hold the largest share during the forecast period. The increased investments in construction and infrastructure development projects in this region are predicted to push the market considerably. The market growth is predicted to be gained from government spending on accelerating supportive infrastructure investments to stimulate economic growth. Additionally, profitable market expansion opportunities in the steel rebar sector have been established by expanded R&D efforts and rising manufacturing process investment. Moreover, the steel rebar market is anticipated to expand more quickly owing to the rise of regional steel industries, rising demand for steel rebar for concrete reinforcement, expansion of the manufacturing sector, improvements in building technology, and expansion of the manufacturing sector. Additional factors contributing to the growth of the steel rebar market throughout the forecast period include rising investment in high-profile steel projects in the region.
Key Findings of the Study
- The global Steel Rebars market is expected to reach USD 318427.5 million by 2030, at a CAGR of 4.9% during the forecast period.
- The Asia Pacific region accounted for the fastest-growing global market.
- Based on Type, the deformed segment was attributed to holding the largest market in 2022.
- Based on end-use, the infrastructure segment was attributed to holding the largest market in 2022.
- ArcelorMittal (Luxembourg), Nucor (US), Nippon Steel Corporation (Japan), NLMK (Russian Federation), Tata Steel (India), JSW (India), Shagang Group Inc (China), Steel Authority of India Limited (SAIL) (India), POSCO (South Korea), HBIS Group (China), Gerdau S/A (Brazil), Commercial Metals Company (CMC) (US), Acerinox S.A (Spain), Daido Steel Co Ltd (Japan), Steel Dynamics, Inc (US) are the key market players.
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