Steel Rebar Market Scope
The steel rebar market refers to the market for steel bars that are commonly used as reinforcement in concrete structures, such as buildings and bridges. The market size and scope of the steel rebar industry can be determined by factors such as global demand for construction projects, production capacity of steel manufacturers, prices and availability of raw materials, and governmental regulations affecting the industry. The Global Steel Rebar Market Report provides In-depth analysis on the market status of the steel rebar Top manufacturers with best facts and figures, meaning, Definition, SWOT analysis, PESTAL analysis, expert opinions and the latest developments across the globe., the steel rebar Market Report contains Full TOC, Tables and Figures, and Chart with Key Analysis, Pre and Post COVID-19 Market Outbreak Impact Analysis and Situation by Regions.
The global Iron Ore market size was valued at USD 224.5 billion in 2022 and is expected to expand at a CAGR of 4.4 percentage during the forecast period, reaching USD 317.4 billion by 2027.
Steel Rebar Market Business strategies of the key players and the new entering market industries are studied in detail. Well explained expert reviews, revenue share and contact information are shared in this report analysis. It also provides market information in terms of development and its capacities.
Steel rebar market drivers include:
Increase in construction activities: The growth of construction industries globally is a major driver for the steel rebar market.
Rapid urbanization: The growing population and urbanization are leading to an increase in construction activities and demand for steel rebar.
Government infrastructure investments: Governments around the world are investing in infrastructure projects, driving the demand for steel rebar.
Technological advancements: The development of new technologies for manufacturing and reinforcing steel rebar is driving market growth.
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Restraints in the steel rebar market include:
Volatility in raw material prices: Steel rebar production is dependent on raw materials such as iron ore and coal, which are subject to price volatility.
Overcapacity in the market: Excessive production of steel rebar in some regions can lead to overcapacity and affect market growth.
Economic slowdown: Economic recessions and slowdowns can negatively impact construction activities and demand for steel rebar.
Stringent regulations and environmental concerns: Government regulations and environmental concerns related to the production and use of steel rebar can act as a restraint to market growth.
Major drivers influencing the growth of the steel rebar market are rapid infrastructure development, urbanization, and the growing product demand from the non-residential sector, such as oil and gas and manufacturing. However, the construction industry's vulnerability to crisis and shortage of skilled individuals, and lack of knowledge are the factors expected to restrain the market of steel rebar. The growing demand for high-grade steel rebar, strict government guidelines, and compliance by manufacturers to improve the quality of steel rebar products presents a significant market opportunity for steel rebar manufacturers. Moreover, environmental concerns due to the emission of greenhouse gases during the production of steel and high rates of overproduction by China are the major challenges for the steel rebar market.
Steel Rebar Market Key Points:
- Define, describe, and forecast steel rebar market by material, application, end use and region.
- Provide enterprise external environment analysis and SWOT analysis.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyse the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Steel Rebar Market Key Players
- 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)
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By type, deformed steel rebar accounted for the largest share in 2021
Steel rebar market is divided into two types i.e; deformed steel rebar and mild steel rebar. Deformed steel rebar is expected to witness significant growth because of its high-strength capabilities compared to mild steel rebar. Also, government mandates to promote the use of high-strength rebar grades to increase the lifespan of construction structures will support the growth of deformed steel rebar. The advancement in developing new high-strength deformed steel rebar grades in countries such as China, the US, and India will drive market growth during the forecast period.
By Process, basic oxygen steelmaking accounted for the largest share in 2021
High efficiencies in the mass production of steel rebar and superior quality finished products make Basic Oxygen Steel (BPS) a preferred process for steel rebar manufacturing. BOS is a traditional process of manufacturing steel rebar, which is costlier than the electric arc furnace process. BOS is preferred because of its high production rate, low nitrogen content, and low labor requirements.
By coating type, plain carbon steel rebar accounted for the largest share in 2021
Plain carbon steel rebar is preferable due to its low cost and durability. It is the most common type of rebar used on every size and type of project. As the name says, it is made of carbon steel and is also known as a black bar due to its carbon color. The main disadvantage is that they don't have a corrosion resistance layer, which increases the risk of being exposed to moisture and getting corroded.
By bar size, #4 steel rebar accounted for the largest share in 2021
#4 rebar is thicker than #3 rebar and is best suited for adding strength to medium construction projects like highways and columns and slabs. #4 rebar is made of strong carbon steel composite and used in the residential and light commercial construction industries. #4 reinforcement steel, in particular, is used to pave roads and highways; it can also be used to construct swimming pool frames.
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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.
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