Steel Rebar Market: Global Industry Analysis And Forecast (2022-2029)

Steel Rebar Market size was valued at US$ 208.64 Bn. in 2021 and the total Steel Rebar Market revenue is expected to grow at 5 % from 2021 to 2029, reaching nearly US$ 308.34 Bn.
Steel Rebar Market Overview:
Rebar, sometimes referred to as steel reinforcement bar and is a tensioning tool used primarily for concrete reinforcing in the construction sector. The adaptable building element known as steel rebar is frequently utilized to support and fortify compacted concrete. A complicated material made from concrete and some form of reinforcement is called reinforcement concrete. Concrete is nearly as strong as adamant, but denser.



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Revenue from the steel rebar market is expected to increase quickly over the forecast period. Owing to the usage of steel rebar in construction to enhance infrastructures and lessen the impact of stressors like temperature and tension, the market is expected to do well in the forecast period. Steel is also the best material for concrete reinforcement because of its ability to grow and because it has a strong bond with the material. These two characteristics likely drive steel rebar's market revenue growth in the forecast period.

Report scope:

The goal of the study is to provide a comprehensive picture of the market for complementary and alternative medicine to market participants. The market's past and present circumstances, as well as expected market size and trends, are all examined in the study. Additionally, it offers a simple analysis of difficult data. The key players do active and in-depth research, including new entrants, market leaders, and followers. The analysis displays the findings of the PORTER and PESTEL analyses in addition to the potential outcomes of the market's microeconomic elements. Analysis of internal and external elements that can have a favourable or negative impact on the organization will provide decision-makers with a clear futuristic view of the market.

The study's analysis of market segmentation and projection of market size also helps readers comprehend the dynamics and structure of the complementary and alternative medicine market. The research acts as a buyer's guide by providing a clear illustration of the competitive analysis of the top companies in the steel rebar market sector by price, financial condition, product, product portfolio, growth plans, and geographical presence.

Using secondary research, we first gathered information on the key suppliers' revenue in order to evaluate and forecast the market for unified monitoring. In order to split the market, by Type (Deformed, Mild) by End User (Housing, Industrial, Infrastructure) vendors' offerings are taken into account. In-depth interviews with key individuals, such as chief executive officers (CEOs), vice presidents (VPs), directors, and executives, were subsequently conducted to confirm these segments through primary research.

The market size is determined using bottom-up approaches. Primary and secondary research are conducted to identify the dominant market participants in the steel rebar market and to calculate their market revenues. A primary research method was used as opposed to secondary research, which involved reading the annual and financial reports of the leading manufacturers and interviewing prominent opinion leaders and business leaders in the industry, such as CEOs and marketing executives. Steel Dynamics, Inc.,DAIDO STEEL Co. Ltd. , Acerinox S.A., CMC ,Gerdau S/A. is a few of the top significant competitors in the global Steel Rebar Market For the duration of the forecast period, they are continually strategizing about mergers and acquisitions to increase their market shares and growth potential.

Covid-19 Impact:

The emergence of the new coronavirus pandemic has contributed to the slowing of the market and trend growth for steel rebar. During the forecast period, which end in 2029, the global market has been seeing a significant backlash in terms of marketing, production, functioning, and manufacturing, which is seriously disrupting the demand and supply chain mechanism. According to estimates made by company experts for the forecast period, the global market has been experiencing a shortage of skilled labour, raw materials, resources, and much more that provide a significant obstacle for the market to grow and thrive.

The market participants for steel rebar are working together with the major businesses who are active in the industry and who have favourable prospects for the market's operations and growth in the forecast period. Rising investments are better positioning production and manufacturing facilities for bulk items that support the growth of the steel rebar market on a global and detailed market scale.
Steel Rebar Market Dynamics:
Market drivers:

The development of the global steel rebar market is largely owing to the rise in demand for steel rebar from the construction sector. Construction industry growth is expected to continue to be a major market driver. The demand for steel rebar is boosted by infrastructure development, particularly in growing economies like China, Brazil, and India as well as the diversification projects in the Middle East countries. Additionally, the sector is growing as a result of rising urbanization, economic growth, and government programmers like "Housing for All By 2022" in India. This results in a rise in construction activities around the nation, considerably supporting the steel rebar market.

One of the key drivers expected to fuel the growth of the steel rebar market by the end of the forecast period is the market's growth of product portfolios, which is being followed by a change in market trends towards the greater use of better grades and degrees of steel rebar.

Market restraints:

The market is experiencing a shortage of qualified personnel, which is followed by a lack of awareness, both of which provide problems for the market in the forecast years. The market and target audience encouraged to use their discretionary income to buy these market shares and items as a result of knowledge and awareness about the product portfolios. The lack of reliable information sources and reluctance to make investments, however, prevent the market from growing as expected.

Market Opportunities:

Growth potential in the forecast period are expected to be large, owing to the need for steel rebar. Many national governments have been urged to enhance investment in infrastructure projects by the World Smart Cities Organization (WSCO), which has a significant impact on the growth of cities around the world. This has aided in the creation of smart cities, which is expected to encourage the growth of the residential market. Additionally, a significant increase in funding for infrastructure projects like building bridges, hospitals, and public services is expected to quicken the pace of socioeconomic growth.

Additionally, because the oil and gas business demands non-corrosive steel rebar conduits, the industry serves as the most lucrative market for steel rebar. This is expected to enhance global refining output, and these refineries probably increase demand for steel rebar, propelling the growth of the global steel rebar market.
Steel Rebar Market Segment Analysis:
Based on Type, The Deformed segment is expected to grow at the highest CAGR during the forecast period. Owing to its superior flexibility and malleability compared to mild steel rebar and its deformed surface, which facilitates the bond formation of materials and lessens slippage in concrete globally throughout the anticipated term, deformed steel rebar is the highest global steel rebar.



Based on End User, The Infrastructure segment is expected to grow at the highest CAGR during the forecast period. The segment growth is expected to be boosted in the forecast year by rising government spending on infrastructure to revive economic growth following the crisis and pandemic. For instance, the federal government of Canada and the Quebec provincial government committed to invest in infrastructure for water purification. Both the federal government and the province of Quebec intend to contribute USD 16.20 million to the project.

Another major factor for the market is the increasing demand for steel rebars in the development of manufacturing facilities. For instance, Estonian energy storage technology company Skeleton Technologies said in July 2022 that it will invest USD 225.5 million in the development of a fully automated production plant in Leipzig, Germany, to manufacture supercapacitors.
Steel Rebar Market Regional Insights:
In 2021, the Asia Pacific region had the highest revenue share more than 61%. Over the course of the forecast period, investments in various construction activities, mostly by China and India, are expected to increase demand for steel rebar in the area. For instance, according to the Ministry of Commerce and Industry, the Indian government committed USD 1.9 billion at the beginning of 2022 to support programmers like "Housing for All" and "Smart Cities Mission."

During the forecast period, North America is expected to have market growth at a rate of 5 %. The escalating funding flow from the governments of the United States, Mexico, and Canada toward various infrastructure projects is expected to have an impact on the growth rate. For instance, the Mexican government and corporate players established the third infrastructure development fund in April 2022 to revitalize the nation's economy. The money is concentrated on the nation's ports, rail systems, and airports.

In addition, the German government resolved in October 2021 to spend USD 109.4 billion on building the nation's rail infrastructure. The government had also allocated USD 342.8 billion for the construction of transportation infrastructure. Increasing investment in projects to grow railroad infrastructure is expected to accelerate market growth over the forecast period.
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Global Steel Rebar Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 208.64 Bn.


Forecast Period 2022 to 2029 CAGR:
5 %
Market Size in 2029:
US $ 308.34 Bn.


 Segments Covered:
by Type
• Deformed
• Mild


by End User
• Infrastructure
• Housing
• Industrial



Steel Rebar Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Steel Rebar Market Key Players
• Steel Dynamics, Inc.
• DAIDO STEEL Co. Ltd.
• Acerinox S.A.
• CMC
• Gerdau S/A
• HBIS GROUP
• POSCO
• SAIL
• SHAGANG GROUP Inc.
• JSW
• Tata Steel
• NLMK
• NIPPON STEEL CORPORATION
• Nucor
• ArcelorMittal
• Essar Steel
• Mechel PAO

FAQs:

1. Which is the potential market for the Steel Rebar Market in terms of the region?
Ans. In Asia Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Steel Rebar Markets in educational institutes

3. What is expected to drive the growth of the Steel Rebar Market in the forecast period?
Ans. A major driver in the Steel Rebar Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Steel Rebar Market?
Ans. Steel Rebar Market size was valued at US$ 208.64 Billion in 2021 and the total Steel Rebar Market revenue is expected to grow at 5 % through 2021 to 2029, reaching nearly US$ 308.34 Billion.

5. What segments are covered in the Steel Rebar Market report?
Ans. The segments covered are Type, End User, and region.