According to IMARC Group’s latest report, titled “Steel Rebar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global steel rebar market size reached US$ 231.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 333.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Steel rebar, also known as reinforcement steel, represents a steel wire mesh or bar used as a tension device to support and reinforce concrete and other masonry structures. It is generally manufactured by using welded wire fabric, sheet metal, carbon steel, epoxy, stainless steel, galvanized and glass-fiber reinforced polymers, iron, manganese, carbon, sulfur, phosphorus, etc. Some of the commonly utilized steel rebars include square-twisted, ribbed, round, stretched, ribbed-twisted, etc. They are extensively used as a reinforcement to provide support to the structural designs, minimize cracking and temperature-induced stress, support other steel bars for equal distribution of the overall load, etc. Steel rebars offer numerous benefits, such as high tensile strength, durability, thermal resistance, malleability, etc.
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Market Trends
The expanding construction industry across countries and extensive infrastructural development are primarily driving the steel rebar market. Additionally, the inflating need for deformed steel reinforcing that can be used as a prestressed reinforcing bar in construction activities for minimal slippage and improved bonding with the cement beams and columns is further catalyzing the market growth. Besides this, the widespread adoption of steel rebar in the construction of modern roads, highways, bridges, skyscrapers, sewage tunnels, airports, stadiums, etc., is acting as another significant growth-inducing factor. Moreover, the introduction of thermo-mechanical technology that aids in improving the quality of rebars is positively influencing the global market. Apart from this, it enables leading manufacturers to create variants with superior ductility, tensile strength, and corrosion resistance, which is augmenting the market growth. Furthermore, the rising levels of industrialization are primarily driving the steel rebar market over the forecasted period.
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List of Key Companies Covered in this Market Report:
- ArcelorMittal (Mittal Steel Company)
- CELSA Steel UK
- Commercial Metal Company
- Daido Steel Co. Ltd.
- Gerdau SA
- Hyundai Steel
- Nippon Steel Corporation
- Nucor Corporation
- Steel Authority of India
- Jiangsu Shagang Group Company Limited
- Steel Dynamics Inc.
- Tata Steel Limited.
Report Segmentation:
The report has segmented the market into the following categories
Breakup by Product Type:
- Deformed
- Mild
Breakup by Process:
- Basic Oxygen Steelmaking
- Electric Arc Furnace
Breakup by Finishing Type:
- Epoxy
- Coated
- Black
Breakup by End Use:
- Residential
- Commercial
- Industrial
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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