ID: MRFR/CnM/8153-HCR | February 2021 | Region: Global | 150 pages
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.
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:
Grades of Rebar in Different Codes
Source: ASTM International, The Concrete Centre, The Indian Concrete Journal, and MRFR Analysis
|Market Size||2027: Significant value|
|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||
|Key Market Drivers||
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.