Global Steel Rebar Market Worth USD 490.50 Billion By 2030 | CAGR of 7.27%

Introduction

Rebar is a tensioning device used to strengthen concrete. Steel rebar strengthens compressed concrete. Concrete with reinforcement is a complicated substance. Concrete lacks tensile strength despite its density.

However, steel rebar put into concrete corrects this mismatch. Wire mesh is one of five types of rebar, along with welded wire fabric, sheet metal reinforcing bars, and stainless-steel rebar. Steel rebar is cut and formed into regular lengths and widths for monolithic buildings.Steel rebar's bending flexibility makes it an effective concrete reinforcement. Steel rebar has high impact resistance, less spalling, and long-term durability.

Market Dynamics

Global Steel Rebar Market: DRIVERS

• Infrastructure And Urbanization Are Accelerating

Rapid infrastructure development and new industrial units in India and China are growing product demand. Rising per capita income, increased populations, and better living circumstances should help the residential sector. Several countries, including India, are considering substantial housing and smart city plans to boost residential sector growth. Rapid urbanization in emerging economies creates new growth and development opportunities. Globally, people are working to solve the most important issues. These include the creation of "smart cities" and the establishment of residential construction laws.

• Government Initiatives Drive the Market

Public housing funding boosts the home construction industry. Low-income households receive government subsidies and aid. These incentives make it easier to secure low-interest home loans. Thermo-mechanical technology can improve steel rebar's high tension, ductility, and capacity to construct columns and beams with exact concrete cover.

Governments around the world favor high-strength rebar in building structures. This has reduced mild steel reinforcing bars' global market share. China's Ministry of Housing and Urban-Rural Development promotes earthquake-resistant deformed steel rebar.

Global Steel Rebar Market:KEY FUTURE OPPORTUNITIES

• Technological Progress Creates New Opportunities

The steel rebar sector is expected to increase, along with its innovation and progress, creating significant business chances for both established and new market participants. High-end usage and technological developments drive steel rebar innovation. Fe-500, Fe-550, and Fe-500D are recent grades. Modern steel rebar is used in corrosion-resistant, epoxy-coated, and earthquake-resistant applications. Increased public transit financing, rapid urbanization, and developing infrastructure are expected to boost the industry.

Regional Overview of Global Steel Rebar Market

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Steel Rebar Market.

Due to China's need for steel rebar, Asia Pacific is expected to have the largest consumption throughout the projection period. Even though China's industrial sector has stagnated, the building sector has risen.

Due to regulatory improvements, China's real estate sector should increase demand for steel and related products. New construction requirements and relaxed regulatory rules in tier 2 and tier 4 cities may raise steel demand in China. Because they're the second and fourth most populous cities, respectively.

The North American area is expected to grow steadily as the United States and Canada rebuild their infrastructure. The US infrastructure business lacks investment.

COVID-19's epidemic affected the U.S. merchants' income and profitability. Nucor's sales declined 10.8% between 2019 and 2020, hitting $20 billion. COVID-19's epidemic affected profits and earnings.

This tendency will be helped by Europe's construction industry rebound. Saudi Arabia's 2019 crude steel production is anticipated at 8,191 thousand tons by the World Steel Association. Depleting iron ore supplies could affect the supply chain by affecting raw material and final product prices. Due to COVID-19, demand for finished steel products decreased in 2020 and will for a while. Future growth will be boosted by government initiatives and megaprojects.

The global economic recovery has boosted demand for steel goods like rebar so far in 2021. Steel Dynamics, Inc. announced first-quarter revenues of USD 3.5 billion, up from USD 2.6 billion in 2020. Net income rose from 187 million to 431 million.

Key Highlights

• The Global Steel Rebar Market was valued at USD 260.82 billion in 2021 and is predicted to reach at USD 490.50 billion by 2030, increasing at a CAGR of 7.27% from 2022 to 2030.
• By Application, the Global Steel Rebar Market is segmented into Residential, Commercial, and Infrastructure.In 2021, the infrastructure sector was responsible for 27.1% of the total market share in terms of revenue.
• By Region, the Global Steel Rebar Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Because of the need for steel rebar in China, it is anticipated that Asia Pacific will continue to be the region with the highest level of consumption throughout the forecast period.

Competitive Players

Major Players in Global Steel Rebar Market

List of major competitor companies in the Steel Rebar Market across the globe are:

1. ArcelorMittal
2. ESSAR steel
3. Nippon Steel & Sumitomo Metal Corporation
4. NLMK
5. Nucor
6. Tata Steel
7. Tillos Group
8. Power Steel Co., Ltd.
9. Akron Rebar Co.
10. Saudi Iron and Steel Company.
11. JSW
12. POSCO
13. Shagang Group
14. Commercial Metals Corporation
15. Steel Authority of India (SAIL)

Recent Developments

Recent Developments

• April 2022 - The vertical and horizontal galvanising lines, each with a capacity of 500,000 tonnes annually, will be provided by Fives for Nucor Corp.'s greenfield West Virginia sheet mill. A news release from Fives states that while the second line's goods would be employed in the construction industry, the first line will create steel coils for automotive purposes.

• April 2022 -Tata Steel announced that it had signed a share purchase agreement with Steel Authority of India Limited (SAIL) to purchase the latter's full 50% holding in S&T Mining Co Ltd. S&T Mining has been converted into a wholly-owned subsidiary of Tata Steel following the completion of the transaction. On April 11, 2022, the business will have fully acquired all of SAIL's equity investment in S&T Mining, according to a filing with the BSE by Tata Steel.

Segmentation

Global Steel Rebar Market: Segmentation

BY APPLICATION

• Residential
• Commercial
• Infrastructure

BY GEOGRAPHY

• North America
• Europe
• Asia Pacific (APAC)
• Latin America
• Middle East and Africa (MEA)