The latest report by IMARC Group, titled “ Steel Rebar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global steel rebar market size reached US$ 231.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 333.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Steel rebars, or steel reinforcement bars, are essential construction materials used to reinforce concrete structures and stonework. They are typically made from carbon steel and designed with deformations that increase their bonding capacity with concrete. They can also be manufactured using glass, carbon, or basalt fiber. They are renowned for their versatility and ability to enhance the tensile strength of concrete in compression. They are widely used in the construction industry due to their advantages, such as high bendability, reduced risk of cracking, high impact resistance, reduced spalling at joint edges, and long-lasting durability. At present, steel rebars are gaining immense traction across the globe to improve the overall balance of concrete structures.
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Steel Rebar Market Trends and Drivers:
The global steel rebar market is primarily driven by the rising product utilization in various structures such as skyscrapers, roads, highways, bridges, sewage tunnels, airports, and stadiums. Moreover, the rising adoption of steel rebars as prestressed reinforcing bars in construction activities for minimal slippage and improved bonding with cement beams and columns is positively influencing the market growth. Additionally, numerous product innovations, such as the development of thermo-mechanical technology that enhances the quality of rebars, allowing manufacturers to create variants with superior tensile strength, ductility, and corrosion resistance, have catalyzed the market growth. Other factors, including rising demand for steel rebars in non-residential sectors, rapid industrialization, and significant growth in the construction industry, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Deformed
- Mild
Breakup by Process:
- Basic Oxygen Steelmaking
- Electric Arc Furnace
Breakup by Finishing Type:
- Epoxy
- Coated
- Black
Breakup by End Use:
- Residential
- Commercial
- Industrial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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.
- Tata Steel Limited.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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