The global steel rebar market size is expected to reach around US$ 355.6 Bn by 2026 and growing at a CAGR of around 5.6% over the forecast period 2019 to 2026.

Steel rebar is used as tensioning device and assists to hold the concrete in a compressed state. The steel rebar are used to enhance the tensile strength of concrete due to it can carry heavy load for compression but weak in tension. Steel rebar is expected to boost the chemical reactions and increase thermal expansion coefficient. There are various steel rebar which includes deformed and mild. The growing demand for construction and infrastructure development across the globe further grows the demand for steel rebar. This expected to enhance the production to meet the growing consumption of steel rebar over the forecast period.

Market Dynamics

The growth of the steel rebar market is primarily driven by the rising urban population, growing demand for steel rebars in various end user industries, rapid industrialization, and increase in infrastructure development. Furthermore, growing construction industry across the globe, increase in bridge and road construction across the globe and increase in demand from application sectors which includes infrastructure, housing, industrial, is estimated to boost the market growth. Moreover, rapid urbanization in developing countries, growing infrastructure development, government investment for public transport development and rapid industrialization, and increase in innovation and development in steel rebar are expected to create opportunities for the manufacturers in the global market over the forecast period. However, fluctuating prices of raw materials and overproduction of steel rebar by developing countries such as China and India are expected to hamper the growth of the global steel rebar market in the coming years.

By process, basic oxygen process dominated the steel rebar market

Based on process, the market has been segmented into basic oxygen process and electric arc furnace. The basic oxygen process segment accounts of the largest share in the market and are expected to grow at a CAGR of around 5.8% during the forecast period.

Basic oxygen process enhances the heat dissipation due to oxidation process. This process is cost-effective and creates less wastage and pollution. The manufacturers Nippon Steel & Sumitomo Metal Corporation, ArcelorMittal, Steel Asia Manufacturing Corporation, and Hyundai Steel Company are the mainly investing in the development of basic oxygen process for the steel rebar, which expected the lead the market in the coming years.

Based on type, the deformed steel segment is expected to dominate during the forecast period

Based on type, the market has been segmented into deformed steel and mild steel. The deformed steel segment accounts of the largest share in the market and held for more than 55% of the total market in 2018. The deformed steel is formulated from carbon steel and offers enhanced mechanical anchoring in concrete. The deformed steel is majorly used in various applications which include columns, precast products, slabs, cages, and beams. The major factors that are driving the growth of this segment are high thermal conductivity and low cost of deformed steel and growing demand for deformed steel in various applications which includes. This expected to enhance the dominance of the deformed steel segment in the global market over the forecast period.

The market research study on “Steel Rebar Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global steel rebar market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global steel rebar market, its type, process, finish, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global steel rebar market size and volume, and segment markets by type, process, finish, and geography along with the information on companies operating in the market. The steel rebar market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

In 2018, Asia-Pacific dominated the regional market with a maximum market share

Asia-Pacific accounted for the high market share of the steel rebar market and the region is also expected to maintain its dominance over the forecast period. The rapid consumption of steel rebar in various end user industries, growing infrastructure development, and rapid industrialization are the major driving factor for the region in the global market. Moreover, increase in government spending for public transport and diversification in the region’s construction sector are expected to enhance the market growth in the global steel rebar market in future.  Moreover, strong economic growth in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the market growth in the global steel rebar market during the forecast. North America is expected to hold the second largest in the global market during the forecast period. Presence of major key players, development of steel rebar for concrete reinforcement, growing construction industry, and increase in production and consumption of steel rebar, rising number of steel rebar manufacturers are expected to enhance the market growth in the global steel rebar market during the forecast.

Europe is expected to hold the highest CAGR in the global market during the forecast period. The growing construction industry, increase in innovation and development in steel rebar, favorable market conditions, and established research and development institutes are expected to enhance the market growth in the global steel rebar market during the forecast.

The players profiled in the report include Nippon Steel & Sumitomo Metal Corporation, ArcelorMittal, Steel Asia Manufacturing Corporation, Hyundai Steel Company, and Steel Authority of India Limited, Jindal Steel & Power ltd., Byer Steel Group Inc., Posco SS Vina, Co. Ltd, Barnes Reinforcing Industries, Jiangsu Shagang Group Co., Ltd., Daido Steel Co., Ltd., and Tata Steel Ltd. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.

Market Segmentation

Market By Type

• Deformed
• Mild

Market By Process

• Basic Oxygen Steelmaking
• Electric Arc Furnace

Market By End User

• Infrastructure
• Housing
• Industrial

Market By Finish

• Black Rebar
• Epoxy Coated Rebar
• Fabricated Rebar

Market By Geography

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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