Steel Rebar Market Research Report - Global Forecast till 2027

Global Steel Rebar Market: Information By Type (Mild, Deformed, others), By End-Use (Infrastructure, Residential Construction, Commercial Construction) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/8153-HCR | February 2021 | Region: Global | 150 pages

MARKET SYNOPSIS


According to MRFR analysis, the Global Steel Rebar Market is projected to register a CAGR of above 4% during the forecast period, 2020–2027, with Asia-Pacific dominating the market.


Steel reinforcement bars, known as steel rebars, are steel bars that are provided in combination with plain cement concrete to make it reinforced cement concrete (RCC). Steel rebars are a versatile construction material that is widely used in the construction industry for manufacturing reinforced concrete. Steel rebars are used to improve the tensile strength of the concrete, and the excellent elongation and high thermal expansion coefficient offered by steel further meets the purpose. Embedding rebars in concrete enhances the concrete’s compressional and tensional strength and controls cracking to avoid concrete shrinkage during curing or due to temperature fluctuations. Rebars resists tension, temperature variation, compression, and shear stresses in reinforced concrete.


The protuberant factor driving the growth of the global market is the increasing demand for the product in the building & construction industry. The growth of the construction industry in the developing countries of Asia-Pacific and the Middle East & Africa due to the rise in residential and commercial construction activities has fueled the demand for RCC, and hence, for steel rebars. The growing urbanization with increasing per capita disposable income and changing lifestyles are important factors driving the growth of the construction industry in the developing markets. Additionally, investments in commercial construction activities by the governments for infrastructural developments are fueling the demand for cement and concrete additives. For instance, initiatives taken by the Indian government, such as the Smart Cities Mission, Green Corridor for the building of ports, and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) for infrastructure development has led to a rapid increase in construction activities.


The surge in the construction sector in the developing economies and the increase in non-residential construction spending in the developed economies is expected to boost the demand for steel rebars in the years to follow.


REGULATORY FRAMEWORK


The steel rebars used are required to meet the specific regulatory standards set by the specific country, in order to be safe for use.


Some of the International standards concerning t stainless steel rebars are:



  • BS 6744:2001

  • DIN 488

  • UNE 36087

  • Eurocode 2


Grades of Rebar in Different Codes Grades of Rebar in Different Codes


Source: ASTM International, The Concrete Centre, The Indian Concrete Journal, and MRFR Analysis


MARKET DRIVERS



  • High demand for steel rebars in the building & construction industry

  • The expanding construction sector in the emerging economies


MARKET RESTRAINTS



  • Availability of effective alternatives to steel rebars

  • Preference of prefabricated construction over RCC Construction


SEGMENTATION


By Type



  • Mild: This segment held the second-largest share of the market, around 30%, in 2019. Mild steel rebars are available in various sizes from 6 mm to 50 mm and are used in residential construction applications.



  • Deformed: The deformed segment held the largest share of the global market in 2019, with a share of over 55%. Deformed steel rebars have ribs, lugs, and indentations on the surface of the bar, which reduces the slippage and allows for superior bonding between the concrete and the rebar. These bars are produced in sections from 6 mm to 50 mm in diameter. These bars are used in structural buildings like bridges and other heavy structures as well as in residential construction.



  • Others: The others segment includes the European rebar, the epoxy-coated rebar, and the stainless-steel rebar, among others.


By End-Use



  • Infrastructure: The infrastructure segment accounted for a share of over 35% in 2019, owing to the surging demand for high strength reinforced steel bars in the construction of bridges, road networks, power generation and transmission projects, and water supply and water resources projects.



  • Residential Construction: The residential construction sector is the major end-use segment of the steel rebar market, with a share of around 45% in 2019. The impetus provided by the growth of the residential sector in the developing economies is expected to boost the growth of the segment in the years to follow.



  • Commercial Construction: Widely used in the non-residential constructions, such as high-rise buildings, warehouses, industrial construction, and shopping malls.


By Region



  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa


REGIONAL ANALYSIS



  • North America: The regional market held approximately a 15% share of the market in 2019. The moderately growing construction industry in the region is likely to be a key challenge for market growth. However, the investments in the oil & gas industry and new shale gas explorations are likely to boost demand for steel rebars in the construction of these exploration projects during the forecast period.



  • Europe: The European market is expected to register sluggish growth during the forecast period. The developed and stagnant construction sector in the region is likely to limit the regional market growth.



  • Asia-Pacific: The market in Asia-Pacific for steel rebars accounted for the largest share of over 65% in 2019 and is projected to remain the dominant regional market during the forecast period. This is mainly attributed to the high demand for the product in the expanding residential and commercial construction sector as well as increasing infrastructure projects in China, India, and Southeast Asian countries.



  • Latin America: The regional market is expected to register healthy growth owing to the rapidly growing construction sector in the developing economies.



  • Middle East & Africa: The regional market in the Middle East & Africa for steel rebar held a relatively smaller share in 2019. The regional market is expected to witness healthy growth in the coming years owing to the high potential of the construction industry in major countries such as the UAE and Saudi Arabia.


KEY PLAYERS



  • ArcelorMittal (Luxembourg)

  • Nucor (US)

  • NIPPON STEEL CORPORATION (Japan)

  • NLMK (Russia)

  • Tata Steel (India)

  • JSW (India)

  • SHAGANG GROUP Inc (China)

  • SAIL (India)

  • POSCO (South Korea)

  • HBIS GROUP (China)

  • Gerdau S/A (Brazil)

  • CMC (US)

  • Acerinox S.A. (Spain)

  • DAIDO STEEL Co Ltd (Japan)

  • Steel Dynamics, Inc. (US)



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant value
  CAGR    4% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-Use, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors    ArcelorMittal (Luxembourg), Nucor (US), NIPPON STEEL CORPORATION (Japan), NLMK (Russia), Tata Steel (India), JSW (India), SHAGANG GROUP Inc (China), SAIL (India), POSCO (South Korea), HBIS GROUP (China), Gerdau S/A (Brazil), CMC (US), Acerinox S.A. (Spain), DAIDO STEEL Co Ltd (Japan), Steel Dynamics, Inc. (US)
  Key Market Opportunities

  • Urbanization with increasing per capita disposable income
  • Changing lifestyles
  •   Key Market Drivers

  • High demand for steel rebars in the building & construction industry
  • The expanding construction sector in the emerging economies


  • Frequently Asked Questions (FAQ) :


    Nucor (US), NIPPON STEEL CORPORATION (Japan), ArcelorMittal (Luxembourg), NLMK (Russia), and Tata Steel (India) are inducing positive change in the market.

    A 4 % CAGR is estimated to enhance market progress in the coming period.

    A remarkable income grossing potential is forecasted for the market in the coming period.

    The Asia Pacific region is estimated to establish a robust presence in the market.

    The improvement in the construction industry is in the offing to enhance the market.