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Steel Rebars Market: Segmented: By Type (Deformed, and Mild), By Process (Basic Oxygen Steelmaking, and Electric ARC Furnace), By End-Use (Infrastructure, Residential, Industrial, and Others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[ 170 + Pages Research Report ] Steel Rebars Market to surpass USD 383 billion by 2032 from USD 231.4 billion in 2021 at a CAGR of 4.7% in the coming years, i.e., 2022-32.
Rebars are steel bars that are used to strengthen concrete under tension. They are also known as reinforcement steel or reinforcing steel owing to their use as a tension device in reinforced masonry and reinforced concrete structures. Steel Rebars increase the tensile strength of concrete as concrete is very weak in tension. Steel rebars are available in different sizes, grades, and varieties to meet the wide range of construction demands. They are used in the construction of bridges, houses, roads, and owing to its properties such as reduced spalling joints, high durability, and high impact resistance.
Steel Rebars market is expected to project a notable CAGR of 4.7% in 2032.
Flourishing residential and non-residential construction activities, growing demand of steel rebars in developing nations, and growing government expenditure on various developmental projects is driving the growth of Steel Rebars market.
Deformed segment to hold the largest market share during the forecast period 2022-32
Steel Rebars market is classified on the basis of type into Deformed, and Mild. Deformed segment to hold the largest market share during the forecast period. The growth is attributed to the low cost and wide application of deformed steel rebars in commercial, residential and industrial structures. Deformed steel rebars have greater ductility, toughness, corrosion & earthquake resistance, high yield strength, and greater malleability in comparison to mild steel rebars. The deformed surface minimizes slippage in concrete and helps in the bond between materials.
Infrastructure segment to hold the largest market share during the forecast period 2022-32
Steel Rebars market is classified on the basis of end-use into Infrastructure, Residential, Industrial, and Others. Infrastructure segment is to hold the largest market share during the forecast period. The growth is attributed to the growing demand of steel rebars in infrastructure projects including dams, bridges, highways, and stadiums. Moreover, growing investments on the development of infrastructure is propelling the growth of the segment.
Growing Demand in Developing Nations
The demand of steel rebars is growing exponentially in developing nations which is driving the market growth. Rapid urbanization, industrialization, rising disposable income, growing investments and increasing population in developing countries have induced infrastructural development projects such as roads, dams, airports, bridges, etc. Furthermore, huge government expenditure on the development of smart cities and housing projects and the huge presence of key market players are contributing to the growth of Steel Rebars market.
Flourishing Construction Industry
Growing number of residential and non-residential construction activities have induced the demand for steel rebars. Growing demand for higher grade levels of steel rebar in the construction industry is fueling the growth of Steel Rebars market. Moreover, growth of thermo-mechanical technology which aids in enhancing the quality of steel rebars is also propelling the growth of the market.
Lack of Skilled Labor and Awareness along with High Costs
The major factors restraining the market growth are the lack of skilled labor and lack of proper awareness related to steel rebars. Furthermore, high costs of manufacturing steel rebar are also hindering the growth of the market.
Recent Developments
Steel Rebars market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is dominating the global market with the largest share. Rising industrial activities, growing investments, rising government expenditure on housing schemes, and the development of smart cities are driving the growth of Steel Rebars Market in the region. Growing number of construction projects owing to urbanization and industrialization is contributing to the market growth.
Covid-19 has adversely affected economies around the globe. Nationwide lockdown regulations were imposed in many countries to control the spread of the virus and social distancing norms were strictly implemented by the authorities. The pandemic disrupted the supply chains, and procurement of raw materials and led to a huge shortage of skilled labor. Covid-19 had a negative impact on Steel Rebars market as production activities were halted and the demand sharply declined.
Steel Rebars Market is further segmented by region into:
Steel Rebars Market Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 231.4 billion |
| Revenue forecast in 2032 | USD 383 billion |
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Process, End-Use, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | DAIDO STEEL Co. Ltd., Acerinox S.A., ArcelorMittal, CMC, Gerdau S/A, HBIS GROUP, POSCO, SAIL, SHAGANG GROUP Inc., JSW Steel, Tata Steel, NLMK, Steel Dynamics, Inc., NIPPON STEEL CORPORATION, Nucor, and Other Prominent Players |
Steel Rebars market size was estimated at USD 231.4 billion in 2021 and is expected to reach USD 383 billion in 2032.
Rebars are steel bars which are used to strengthen concrete under tension. They are also known as reinforcement steel or reinforcing steel owing to their use as a tension device in reinforced masonry and reinforced concrete structures.
Deformed, and Infrastructure segment accounted for the largest Steel Rebars market share.
Key players: DAIDO STEEL Co. Ltd., Acerinox S.A., ArcelorMittal, CMC, Gerdau S/A, HBIS GROUP, POSCO, SAIL, SHAGANG GROUP Inc., JSW Steel, Tata Steel, NLMK, Steel Dynamics, Inc., NIPPON STEEL CORPORATION, Nucor, and Other Prominent Players are the key players in the Steel Rebars market.
Growing Demand in Developing Nations and Flourishing Construction Industry are the factors driving the Steel Rebars market.
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