The latest report by IMARC Group, titled “Steel Rebar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global steel rebar market reached a value of US$ 231.0 Billion in 2022. A steel rebar, or steel reinforcement bar, is used as a tension device in reinforced concrete and to strengthen stonework structures. It is manufactured from carbon steel consisting of hot-rolled round bars with deformation designs. It also consists of glass fiber, carbon fiber, or basalt fiber. Steel rebar is a versatile construction material that holds and improves the tensile strength of the concrete in a compressed state. In recent years, steel rebars are widely utilized due to their excellent bendability, lowered risk of cracking, high impact resistance, reduced spalling joint edges, and high durability, which helps overcome the imbalance in concrete.
Global Steel Rebar Market Trends:
The market is driven by rapid industrialization and significant expansion of the construction sector. As a result, steel rebars are increasingly utilized in the construction of both residential as well as commercial infrastructure. Besides this, governments across various countries are promoting the use of high-strength rebars to increase the lifespan and strength of the construction structures, which is contributing to the market. In addition to this, steel rebars are gaining popularity as they are economical and find applications across industrial structure, buildings, highways, dams, stadiums, and bridges. Furthermore, various advancements in thermo-mechanical technology are improving the quality of steels rebars and providing unique features, such as high ductility and perfect-shaped beams, which are fueling the market growth. Looking forward, the market is expected to grow at a CAGR of 6.2% during the forecast period (2023-2028).
- Based on the product type, the market has been segmented into deformed and mild steel rebars.
- On the basis of the process, the market has been classified as basic oxygen steelmaking and electric arc furnace.
- The market has been categorized based on the finishing type into epoxy, coated, and black.
- On the basis of the end use, the market has been segregated into residential, commercial, and industrial.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being ArcelorMittal Group (Mittal Steel Company), CELSA Steel UK, Commercial Metal Company, Daido Steel Co. Limited, Gerdau SA, Hyundai Steel, Nippon Steel Corporation, Nucor Corporation, Steel Authority of India, Jiangsu Shagang Group Company Limited, Steel Dynamics Inc., and Tata Steel Limited.
|Base Year of the Analysis
||Product Type, Process, Finishing Type, End Use, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and Tata Steel Limited
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