PUBLISHER: The Business Research Company | PRODUCT CODE: 1414609
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414609
“Steel Rebar Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on steel rebar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for steel rebar? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The steel rebar market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Steel rebar is a metal bar designed to enhance the tensile strength of concrete, thereby improving the resilience of concrete structures against various loads such as tensile, bending, torsion, and shearing forces.
The primary types of steel rebar include deformed and mild. Deformed steel rebar is characterized by ribs, lugs, and indentations on its surface, addressing the slippage issue associated with mild steel bars and ensuring robust bonding between concrete and rebar. The manufacturing processes involved include basic oxygen steelmaking and electric arc furnace methods. Steel rebar finds applications in residential buildings, public infrastructure, and industrial projects. The key end-use industries for steel rebar include construction and infrastructure, manufacturing, and oil and gas.
The steel rebar market research report is one of a series of new reports from The Business Research Company that provides steel rebar market statistics, including steel rebar industry global market size, regional shares, competitors with a steel rebar market share, detailed steel rebar market segments, market trends and opportunities, and any further data you may need to thrive in the steel rebar industry. This steel rebar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The steel rebar market size has grown strongly in recent years. It will grow from $245.46 billion in 2023 to $260.97 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The expansion observed in the historical period can be credited to the development of infrastructure and construction projects, the increase in population and urbanization, governmental allocations for construction investments, the demand for resilience and strength in construction, and the worldwide economic growth and industrialization.
The steel rebar market size is expected to see strong growth in the next few years. It will grow to $327.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated expansion in the upcoming period can be ascribed to projects related to renewable energy infrastructure, the development of smart cities and sustainable construction practices, a growing need for high-strength rebar, the global recovery from the COVID-19 pandemic, and the extension of transportation infrastructure. Prominent trends expected in the forecast period comprise innovations in sustainable steel production, technological advancements in steel manufacturing, the embrace of green and sustainable practices, the utilization of microalloying technology to enhance performance, market expansion in developing economies, and adherence to stringent quality standards and regulatory compliance.
The substantial growth in global building and construction activities is a significant factor contributing to the expansion of the steel rebar market. Building and construction activities encompass the business and manufacturing sector dedicated to constructing, maintaining, and repairing infrastructure. Steel rebars play a crucial role in reinforcing and supporting concrete structures in tension during building and construction activities, thereby fueling the market growth. For example, in 2022, as reported by the Bureau of Economic Analysis (BEA), a US-based government organization providing official macroeconomic and industry statistics, the size of the US construction industry increased by 5.21%, rising from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Consequently, the escalating global building and construction activities are poised to propel the steel rebar market.
The anticipated surge in demand for oil and gas is expected to drive the growth of the steel rebar market in the future. The oil and gas industry involves activities related to the exploration, extraction, refining, transportation, and distribution of petroleum products, natural gas, and associated resources. Steel rebars are essential for constructing durable, resilient, and dependable infrastructure for oil and gas facilities, ensuring operational efficiency, safety, and the longevity of critical assets within the industry. As of 2022, according to The U.S. Energy Information Administration (EIA), a US-based government agency, the U.S. crude oil production reached 11,910,622 barrels per day, with Texas leading as the top crude oil-producing state at 5,060,000 barrels per day. Hence, the increasing demand for oil and gas is a key driver of the steel rebar market.
The prevailing trend of product innovation is a key factor gaining traction in the steel rebar market. Leading companies within the steel rebar market are directing their efforts towards the development of new steel bars featuring enhanced mechanical and metallurgical properties to broaden their applicability. For example, in March 2023, GPH Ispat Limited, a Bangladesh-based steel manufacturer, introduced the GPH Quantum B600D-R steel rebar, a novel high-grade steel rebar product. This advanced steel rebar not only reduces construction costs but also enhances the floor area and reinforces the building's capability to withstand heavy and sustained loads.
Major players in the steel rebar market are strategically investing in steel rebar mills as part of their revenue-driving initiatives. Investing in commodities such as steel contributes to market expansion across various dimensions. In August 2023, Hybar, a US-based company specializing in the construction of steel rebar mills, secured $700 million in debt and equity financing. The funding is earmarked for the construction, launch, and operation of an advanced, environmentally sustainable scrap metal recycling steel rebar mill in Osceola, Arkansas. The construction of the mill is projected to take 22 months, situated on a 1,300-acre greenfield site with convenient access to barge, rail, and truck transportation options.
In February 2022, FABco, a US-based provider of concrete construction materials and supplies, including engineered steel rebar, completed the acquisition of Volunteer Rebar, LLC for an undisclosed amount. This strategic acquisition represents a significant step forward in achieving FABCO's objectives and expanding service offerings to its extensive national customer base. Volunteer Rebar LLC, based in the US, is a provider of construction products with a primary focus on rebar fabrication.
Major companies operating in the steel rebar market report are ArcelorMittal S.A., CELSA Steel UK Ltd., Commercial Metal Company, Daido Steel Co. Ltd., Gerdau S.A., Hyundai Steel Co. Ltd., Nippon Steel Corporation, Nucor Corporation, Steel Authority of India Limited, Jiangsu Shagang Group Company Limited, Steel Dynamics Inc., Tata Steel Limited, Jindal Steel & Power Ltd., The Conco Companies Inc., Barnes Reinforcing Industries Inc., Outokumpu Oyj, Novolipetsk Steel, Sohar Steel Group LLC, Mechel PAO, Acerinox S.A., Posco SS Vina Co. Ltd., Emirates Steel Industries PJSC, Qatar Steel Company, JFE Holdings Inc., KOBE STEEL LTD., Infra-Metals Co., A-1 Alloys Inc., Delta Steel Inc., Admiral Steel LLC, Eastern Steel Corporation, Addison Building Materials Inc.
Asia-Pacific was the largest region in the steel rebar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global steel rebar market report during the forecast period. The regions covered in the steel rebar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the steel rebar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The steel rebar market consists of sales of steel rebars, hot-rolled deformed bars, cold-rolled steel bars, twisted steel bars, and welded steel wire. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.