Europe Steel Rebar Market Size, Share & Trends Analysis Report By Material (Bar (Small), Bar (Large), Wire, Coil, Others), By Type (Mild Steel Rebar, Deformed Steel Rebar, Carbon Steel Rebar, Stainless Steel Rebar, Galvanized Steel Rebar, Welded Wire Fabric (WWF) Rebar, Others), Coating Type (Plain Carbon Steel Rebar, Galvanized Steel Rebar, Epoxy Coated Steel Rebar), By Grade (40, 60, 75, 80, 100, 120, 150, Others), By End User (Construction, Infrastructure, Oil & Gas, Manufacturing, Agriculture, Others) and By Country(U.K., Germany, France, Italy, Russia, Nordic, Benelux, Rest of Europe) Forecasts, 2023-2031

Market Overview

The Europe steel rebar market size was valued at USD 48.6 billion in 2022 and is projected to reach USD 85.3 billion by 2031, registering a CAGR of 6.0% during the forecast period (2023-2031).

Highlights

• The bar (large) dominated the market by material.
• The carbon steel bar dominated the market by type.
• The 60 dominated the market by grade.
• Oil and gas dominated the market by end-user.
• Russia and CIS dominate the market by region. 

Steel reinforcement bar is also known as rebar, reinforcing bar, reinforcing steel, and reinforcement steel. It is a flexible building material commonly used to manufacture reinforced concrete in construction.  Rebar is used to strengthen the tensile strength of concrete since it is very weak in tension but very powerful in compression.  Steel rebar is available in a variety of bar diameters; some of the coating options are epoxy-coated steel rebar, and galvanized steel rebar is used in special projects related to industrial, residential, and infrastructure exclusively.

Due to the region's major involvement in several industrial and construction sectors, steel consumption is increasing across Europe. Steel manufacturing is necessary since Europe, notably Germany, is the world's top automaker. The region's continual efforts to upgrade its infrastructure have helped the steel sector grow even more rapidly. Steel consumption is rising because of ongoing non-corrosive material demands from the building and automobile industries. The development of offshore wind power and improvements in maritime engineering has also impacted the expansion of the steel sector. Government programs aimed at boosting construction output and anticipated expansion of the public infrastructure are further factors driving steel demand.

Market Dynamics

Europe steel rebar market drivers

Increasing urban population

The increase in demand for steel rebar is mostly due to the growing population in Europe. The demand for steel rebar is fuelled by the quickening development of infrastructure and urbanization, particularly in nations. People are moving from rural to urban regions, accelerating the market's expansion. The availability of public financing for residential construction also contributes significantly to the growth of the steel rebar business. High-strength rebar is used in construction projects as an incentive, thanks to government subsidies and assistance for low-income households. Rapid urbanization also fosters commercial and economic development in developing nations.

Rising investments in infrastructure development projects and construction activities

Increased expenditures in large infrastructure projects are driving up demand for steel rebar in Europe. Steel rebar is widely used in many industries, including non-residential ones like oil and gas and manufacturing, and it is essential for developing infrastructure. Rapid infrastructure development, urbanization, and the rising demand for goods in industries like roads, bridges, sewage systems, airports, and stadiums all impact the growth of the steel rebar market. Additionally, improvements in steel rebar coatings have increased its longevity, making it appropriate for various uses in infrastructure development.

Europe steel rebar market restraints

Vulnerability of the construction industry to crises

In Europe, initial investments needed for building projects of construction businesses are particularly sensitive to crises, exposing them to sizable financial losses brought on by unforeseen occurrences. Such difficulties include pandemic effects, economic recessions, and political instability. Since steel rebar is largely utilized in applications, including roads, bridges, commercial and industrial buildings, and public infrastructure, its demand is directly correlated with construction activity. The vulnerability of the construction sector to crises, a lack of trained labor, and a lack of knowledge are expected to impede the expansion of the steel rebar market.

Rusting of steel bar

Corrosion of steel in Europe is caused by weather exposure, which reduces the strength of reinforced concrete. The growth of rust exerts internal tension on the nearby concrete, causing fissures. Concrete poured may get stained when rain removes the top layer of rebar. Furthermore, significant rusting brought on by seawater corrosion might render the rebar useless. Rust has a detrimental influence on steel's ability to support loads, making it less effective when used with concrete to support structural loads. Rusting causes steel to turn into iron oxide, which expands significantly in volume and causes severe internal stresses in the nearby concrete. The market's expansion is to this aspect.

Europe steel rebar market opportunities

Development of smart cities

The development of smart cities is expected to have a considerable positive impact on the growth of the residential sector. Additionally, financing for infrastructure development projects, such as building bridges, hospitals, and public services, is anticipated to rise, likely promoting socioeconomic growth. Additionally, the oil and gas sector is anticipated to be the most profitable market for non-corrosive steel rebar, increasing worldwide refining output. The growth of the worldwide market is anticipated to be fuelled by this development of refineries, which will increase demand for steel rebar.

Technological advancements

The European steel rebar market is anticipated to expand because of ongoing technological improvements and innovations. With this development, both well-established businesses and fresh market entrants stand to profit financially. The need for high-performance steel rebar applications is fuelling ongoing industry innovation. Advanced steel rebar variations with characteristics like an epoxy coating, earthquake resistance, and corrosion resistance are often used in various industries. The demand for value-added products is being driven by the implementation of strict government rules and manufacturers' devotion to quality improvements. Steel rebar manufacturers have several chances to profit from this large market potential.

Regional Analysis

The Europe steel rebar market is segmented by country: U.K., France, Spain, Italy, Russia and CIS, Nordic, Benelux, Rest of Europe. Russia and CIS dominated the market with a CAGR of 6.3% during the forecast period.

Due to the region's thriving infrastructure development projects and powerful construction sector, the steel rebar market in Europe has seen tremendous expansion in recent years. Steel is in high demand because Europe is a hub for manufacturing and construction. In addition, Germany is the largest automobile manufacturer in Europe, and its production is renowned worldwide. A sustained endeavor has been made to improve infrastructure in this region, resulting in the steel industry's continuous expansion. The construction and automotive industries have an ongoing need for non-corrosive materials. Improvements in marine design and developments in the power industry, such as offshore wind power development, also significantly impact the expansion of steel production.

Additionally, an expansion of public infrastructure is anticipated. These factors all contribute to the expanding demand in the steel industry. In addition, government initiatives are designed to increase building production, which fuels the growth of this industry.  

Segmental Analysis

The Europe steel rebar market is segmented into material, type, grade, and end user.

By material, it is further segmented into bar (small), bar (large), wire, coil, and others.

The bar (large) dominated the market and is expected to register a CAGR of 6.0% over the forecast period.

By type, it is further segmented into mild steel rebar, deformed steel rebar, carbon steel rebar, stainless steel rebar, galvanized rebar, glass fiber reinforced polymer rebar, epoxy coated rebar, welded wire fabric rebar, expanded metal rebar.

The carbon steel bar dominated the market and is expected to register a CAGR of 7.7% over the forecast period.

It is further segmented by grade into 40, 60, 75, 80, 100, 120, 150, and others.

The 60 dominated the market and is expected to register a CAGR of 8.3% over the forecast period.

By end user, it is further segmented into construction (residential, commercial, others), infrastructure (roadways, bridges, railways, airports, others), oil and gas, manufacturing, agriculture, and others.

Oil and gas dominated the market and are expected to register a CAGR of 7.8% over the forecast period.

Recent Developments

• September 2022- NLMK Group signed an agreement with NLMK Belgium Holding (NBH) to integrate NLMK Dansteel (‘Dansteel’) into NBH.
• May 2022- ArcelorMittal partnered with SNIM to develop palletization and DRI production plants in Mauritania.