Steel rebar, short for “reinforcing bar,” is a common construction material used to reinforce concrete structures. It is a steel bar or mesh of steel wires used as a tension device in concrete to strengthen and hold the concrete in compression. The Steel Rebar Market is approximated to be USD 224.5 billion in 2022, and it is projected to reach USD 317.4 billion by 2030, at a CAGR of 4.4%.
Global Steel Rebars Market Report from MarketsandMarkets highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability.
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Browse 275 market data Tables and 56 Figures spread through 266 Pages and in-depth TOC on “Steel Rebar Market by Type (Deformed and Mild), Coating Type (Plain Carbon Steel Rebar, Galvanized Steel Rebar, Epoxy-Coated Steel Rebar), Process Type, Bar Size, End-use (Infrastructure, Housing, and Industrial) and Region – Global Forecast to 2030”
Composition and Types:
- Steel rebar is typically made from carbon steel, although other alloys may be used in specialized applications.
- It comes in various shapes and sizes, including round, square, and deformed, with deformations providing better adhesion to concrete.
- Common types of steel rebar include black rebar, epoxy-coated rebar (to prevent corrosion), and stainless steel rebar (for corrosive environments).
Applications:
- Steel rebar is primarily used in the construction industry to reinforce concrete structures such as buildings, bridges, highways, and other infrastructure projects.
- It helps concrete withstand tensile forces, preventing it from cracking or collapsing under heavy loads or due to temperature changes.
Industry Dynamics:
- Market Demand: The demand for steel rebar is closely tied to the overall health of the construction and infrastructure sectors. Economic growth and urbanization drive demand for new buildings and infrastructure projects, which, in turn, boost the need for rebar.
- Global Growth: Emerging economies, such as China and India, have witnessed significant construction booms, contributing to substantial global demand for steel rebar.
- Regulations: Regulatory standards and codes often dictate the type and quality of steel rebar used in construction, especially for safety-critical structures. Compliance with these standards is crucial.
- Price Volatility: The steel industry, including rebar, is susceptible to fluctuations in steel prices due to factors like raw material costs, trade policies, and global supply and demand dynamics.
- Environmental Considerations: Environmental concerns have led to the development of eco-friendly alternatives, such as fiber-reinforced concrete, which may impact the demand for traditional steel rebar.
- Innovation: Continuous research and development in the steel industry have led to the creation of high-strength rebar and advanced coatings to improve durability and reduce maintenance.
- Corrosion Resistance: Corrosion is a significant concern for steel rebar in some environments. Therefore, the industry has seen advancements in corrosion-resistant coatings and materials.
- Global Trade: The steel rebar market is influenced by global trade policies and tariffs, which can impact the availability and cost of steel rebar in different regions.
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In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.
Major Players in This Report Include
- Nippon Steel Corporation (Japan)
- ArcelorMittal (Luxembourg)
- Tata Steel Limited (India)
- Nucor Corporation (US)
- NLMK Group (Russia)
- Gerdau SA (Brazil)
- Commercial Metals Company (US)
- Steel Authority of India Limited (India)
- Mechel PAO (Russia)
- Steel Dynamics Inc. (US)
Market Drivers Increasing Demand of Steel Rebars due to Rising Funding from Government for Development of Transportation Infrastructure
Decreasing the Prices of Steel Rebars
Market Trend An Emergence of Advanced Thermo-Mechanical Technology for Improving Quality of Steel
Opportunities Upcoming Mega Projects such as The Hong Kong-Zhuhai-Macau Bridge, Beijing Daxing International Airport and others will grow market
Advanced Features such as ductility, high tension, offers perfect shaped beams, and columns
Increasing Research and Development Activities by Established Players
Challenges High Cost of Fabrication Used for Casting Limiting the Growth of the Market
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By End Use Industry, the Infrastructure segment accounted for the largest share in 2021
Demand for steel rebar is driven by increasing investment in major infrastructure projects across the world, especially in the Asia Pacific region. Infrastructure is a major end-user of steel rebar. This sector majorly includes projects such as roads, highways, bridge construction, sewage systems, airports, and stadiums, among others. Advancements in steel rebar coatings make it durable for various infrastructure construction
Asia Pacific accounted for the largest share of the Steel Rebar Market in 2021
Low-cost labor and cheap availability of lands in Asia Pacific region attract foreign investments further helping industrial sectors grow rapidly. Rapid economic growth, increasing urbanization, increasing investments by the government to setup new industries and high growth in the infrastructure sector will lead to the increase in construction activities, which helps to increase the demand for steel rebar. China was the region’s largest market for steel rebar in 2021, followed by Japan, India, and South Korea. Asia Pacific region is projected to witness a steady increase in consumption between 2022 and 2030.
Recent Developments
- In December 2022, ArcelorMittal, announced the acquisition of Riwald Recycling ('Riwald').
- In November 2022, Commercial Metals Company has completed the acquisition of a Galveston area metals recycling facility and related assets from Kodiak Resources, Inc. and Kodiak Properties, LLC (US).
- In September 2022, NLMK Group signed an agreement with NLMK Belgium Holding (NBH) to integrate NLMK Dansteel ('Dansteel') into NBH.
- In September 2022, ArcelorMittal Nippon Steel India Limited, a joint venture of Nippon Steel Corporation and ArcelorMittal, decided to acquire the port, electric power, and other infrastructure assets from the Essar Group.
- In August 2022, Tata Steel Limited signed an MoU with the Government of Punjab for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF.
- In July 2022, Tata Steel Long Products Limited (a subsidiary of the company) completed the acquisition of Neelachal Ispat Nigam Limited.
- In June 2022, Nucor Corporation announced the acquisition of Summit Utility Structures LLC and a related company, Sovereign Steel Manufacturing LLC,
- In June 2022, ArcelorMittal partnered with RWE AG to develop, build, and operate offshore wind farms and hydrogen facilities.
- In May 2022, ArcelorMittal partnered with SNIM to develop a pelletization plant and a DRI production plant in Mauritania.
- In April 2022, Tata Steel Limited signed a business cooperation agreement with Thiess to deliver mine technical services in areas such as exploration, resource evaluation, and mine planning.
