Steel Rebar Market

Global Steel Rebar Market Size (2024 to 2032)

The global Steel Rebar Market size was valued at USD 226.62 billion in 2023, and the market size is expected to USD 423.70 billion by 2032 from USD 242.94 billion in 2024. The market's promising CAGR for the predicted period is 7.2%.

MARKET OVERVIEW

Steel Rebar, also called a reinforcing bar is broadly employed in the construction industry, mainly in concrete reinforcement. It serves as tensioning equipment and assists in clinching the concrete in a squeezed state. Concrete can carry a hefty load for compaction but it is very weak in tension. To allow concrete to carry the ductile load, a steel rebar is employed. Steel rebar is generally employed for concrete construction its thermal co-efficient worth is close to the thermal co-efficient worth of concrete.

Steel rebar is a price-effective product that could be employed for concrete masonry and concrete reinforcement. Contrarily, aluminum is costly with less tensile strength substitute for the same uses. In the production of steel, different kinds of waste are discharged into the water which can cause water pollution. It's making also emits CO2 causing the greenhouse effect. It is also in charge of the release of dangerous gases like nitrogen oxide and sulfur oxide into the air, giving rise to air pollution. The corrosion ability of steel results in damage to buildings, where rebar is employed. While these disadvantages will continue to pose a challenge, escalating construction activities worldwide, mainly in growing nations, will keep the call for steel rebar high in the future years.

MARKET DRIVERS AND RESTRAINTS

Expanding the construction industry worldwide, reducing steel cost, decreasing wastage, minimizing overlapping at joints, and assisting in faster infrastructure advancement are the major factors driving the expansion of the global steel rebar industry.

Furthermore, a rise in thermo-mechanical technology that aids in improving the quality of steel rebar, and unique properties of steel rebar like high tension, ductility, offering perfectly shaped beams, and columns with the exact quantity of cover concrete are some of the major factors boosting the expansion of steel rebar industry over the calculated period. Nevertheless, rusting of steel will reduce strength which will further decline the strength of reinforced concrete, and the high costs of fabrication employed for casting rebar concrete may hamper the expansion of the steel rebar industry over the same period. 

The expansion of the steel rebar industry is mainly supported by the augmenting urban population, rising calls for steel rebars in different end-user businesses, rapid industrialization, and an increase in infrastructure advancement. Moreover, the rising construction industry across the world escalates in bridge and road construction across the world, and the rise in calls from application segments that involve infrastructure, housing, and industrial, is estimated to fuel the industry expansion. Furthermore, fast urbanization in growing nations, rising infrastructure advancement, government funds for public transport advancement fast industrialization, and a surge in innovation and advancement in steel rebar are assumed to create opportunities for the makers in the worldwide industry over the envisioned period. 

REPORT COVERAGE

DETAILED SEGMENTATION OF THE GLOBAL STEEL REBAR MARKET INCLUDED IN THIS REPORT

This research report on the global steel rebar market has been segmented and sub-segmented based on process, coating type, bar size, end use sector, by region.

Global Steel Rebar Market By Process

• Basic Oxygen Steelmaking
• Electric Arc Furnace

Global Steel Rebar Market By Coating Type

• Plain Carbon
• Galvanized
• Epoxy Coated

Global Steel Rebar Market By Bar Size

• #3 Bar Size
• #4 Bar Size
• #5 Bar Size
• #8 Bar Size
• Others

Global Steel Rebar Market By End-Use Sector       

• Infrastructure
• Housing
• Industrial

REGIONAL ANALYSIS

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The Asia Pacific is also a major customer of steel rebar, dominated by the fast industrial and infrastructural advancement in growing countries like India and China.

The industry for steel rebar is led by North America due to the huge number of construction activities in the region. This results in the need for steel rebar for industrial construction, homes, and other infrastructural construction. Consumption of steel rebar has escalated highly in the Asia Pacific. Europe, the Middle East & Africa are the other key customers of steel rebar.

North America Steel Rebar Market rules the business trailed by Europe and Japan because of advanced infrastructure, and rise in imports of steel rebar or concrete reinforcing bar in the U.S, established research & advancement institutes, and favorable industry conditions like rebounding non-residential construction activities. The industry in Asia-Pacific is anticipated to have the quickest expansion owing to the rising making industry, growing construction technology, government initiatives to boost steel employment, the increase in the call for steel rebar for concrete reinforcement, and the availability of domestic steel trades. Europe is determined to account for the most significant CAGR in the global industry throughout the anticipated period.

KEY PLAYERS IN THE GLOBAL STEEL REBAR MARKET

Hyundai Steel (South Korea),  Kobe Steel, Ltd. (Japan), Jiangsu Shagang Group Co., Ltd. (China), JFE Steel Corporation (Japan), Commercial Metals Company (U.S.), Daido Steel  (Japan), Barnes Reinforcing Industries (pty) Ltd (South Africa), Jindal Steel & Power Ltd. (India), Steel Dynamics, Inc. (U.S.), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel Company (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel Group Inc. (U.S.).