Global Steel Rebar Market growing at a CAGR of 5.4% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the steel rebar market is predicted to grow at a compound annual growth rate of 5.4% from 2023 to 2031 and is expected to reach USD 372.41 billion in 2031 which was valued at USD 247.88 billion in 2022 and 258.13 billion in 2023.
The report highlights the significant growth in infrastructure development and urbanization projects across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the steel rebar market.
Global Steel rebar Market By Overview
The steel rebar market is bifurcated into type, reinforcing type, bar size, and end user. Based on type, the market is segmented into carbon steel rebar, stainless steel rebar, galvanized rebar, epoxy coated rebar, and others. In 2022, the carbon steel rebar segment dominate in the overall steel rebar market. Based on reinforcing type segment is categorized into deformed and mild. In 2022, the deformed segment accounted for the highest market share in the steel rebar market. Based on bar size, the market is segmented into #3 bar size, #4 bar size, #5 bar size, #6 bar size, and others. In 2022, the #4 size segment dominate in the overall steel rebar market. The end user segment is categorized into residential, infrastructure, and industrial. In 2022, the infrastructure segment accounted for the highest market share in the steel rebar market.
Get Free SampleMarket Dynamics
Driver:
- Significant growth in infrastructure development and urbanization projects across the globe
- Growing demand for steel rebar from non-residential construction
Restraints:
- Increasing availability of low-cost steel rebar alternatives and decreasing global steel production
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Carbon Steel rebar, Stainless Steel rebar, Galvanized Rebar, Epoxy Coated Rebar, and Others |
| By Reinforcing Type | Deformed and Mild |
| By Bar Size | #3 Bar Size, #4 Bar Size, #5 Bar Size, #6 Bar Size, and Others |
| By End User | Residential, Infrastructure, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Nippon Steel Corporation, ArcelorMittal, Tata Steel Limited, and NLMK Group, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the steel rebar market is expected to witness substantial growth in the coming years due to the growing innovations in steel manufacturing and processing technologies in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Nippon Steel Corporation
- ArcelorMittal
- NLMK Group
- Steel Authority of India Limited
- Steel Dynamics, Inc.
- Mechel PAO
- Tata Steel Limited
- Commercial Metal Company
- Nucor Corporation
- Hyundai Steel
- JSW Steel Limited
