Steel Rebar refers to steel for reinforced concrete and prestressed reinforced concrete. Its cross-section is round, sometimes square with rounded corners, including light round bars, ribbed bars, and twisted bars. Rebar for reinforced concrete refers to straight or wire rod steel for reinforced concrete reinforcement. Its shape is divided into two types: light round bar and deformed bar. Steel rebar’s delivery status is two kinds, such as a straight bar and a round bar. Steel Rebar widely used in various building structures. Especially large, heavy, light thin-walled, and high-rise building structures. Reinforcement mainly subjected to tensile stress in concrete. Deformed steel bars have a greater bonding capacity with concrete due to the action of ribs, so they can better withstand the effects of external forces.
Global Steel Rebar Market estimated to witness a significant rate during the forecast period, 2020-2027. The growth of the construction and infrastructure sector worldwide are vital factors expected to propel the global steel rebar market in the future time. Additionally, the increasing population and rapid urbanization, coupled with the growing use of higher rebar products for construction work, will contribute to the growth of the global steel rebar industry in the projected periods. Moreover, rapid infrastructure development, especially in housing, commercial, and industrial infrastructure, in emerging economies such as BRICS countries, will expand the growth of global steel rebar market size in the upcoming periods.
Furthermore, massive demand for steel rebar in for public facilities such as roads, railways, bridges, dams, and the housing construction market projected to trigger the steel rebar industry size in the expected time. Steel rebar is mainly used in the construction industry, construction projects are generally fragmented, and construction companies have advancement requirements and low requirements for sub-categories. Additionally, the advantages and features of steel rebar, such as durability, high yield strength, thermal resistance, and malleability characteristics will influence the global steel rebar market share in the upcoming timespan. According to the World Economic Forum, around 200,000 people migrating to urban areas daily are dependent on the provision of affordable housing and infrastructure provided by the Infrastructure and Urban Development industry. Further, the World Economic Forum stated that the construction industry accounts for about 6% of global GDP and is growing. In parts of the developing world, such as India, it can account for more than 8% of GDP.
With the continuous deepening of the world’s urbanization and the gradual improvement of the construction industry standards, higher requirements for building safety have put forward, and the functional requirements for steel bars have become higher and higher. According to the World Economic Forum, the population of the world’s urban areas is increasing by 200,000 people per day, all of whom need affordable housing as well as social, transportation, and utility infrastructure. According to the World Economic Forum, The world’s urban population is expected to exceed 6 billion by 2045, with about a quarter of that population living in slums.
Based on the product, the global Steel Rebar market bifurcated into Deformed and Mild. The Deformed segment expected to register a higher CAGR by 2027, owing to the growing demand for deformed rebar in reinforced concrete slabs, cages, columns, prefabricated beams, and precast products. It helps in increasing the bond between materials and minimizes slippage in concrete.
The Mild segment will drive as of its surge in the applications of column spirals, dowels at expansion joints, contraction joints in runway & roads, etc. Mild steel rebar is easy to cut and bend without damage.
Based on Process, the global Steel Rebar market bifurcated into Basic Oxygen Steelmaking, and Electric Arc Furnace. The Electric Arc Furnace segment likely to dominate the market by 2027 due to its advantages, including less wastage and results in significant savings of energy & resources, and it is highly dependent on recyclable materials such as scrap metals, which create low wastages and pollution.
The Basic Oxygen Steelmaking segment help to minimize smelting time and reduce the cost of capital, thus expected to grow significantly.
Based on finishing type, the global steel rebar market classified into Black rebar, Epoxy coated rebar, and Fabricated rebar. The Black rebar segment accounted for major share in the market in 2019, on account of benefits of black rebar for minimizing exposure to moisture, with minimum chances of catching rust or corrosion.
The Epoxy coated rebar segment will grow by its applications for marine applications where there is a high chance of corrosion due to water.
Based on the end-user industry, the global steel rebar market categorized into the Construction and Infrastructure, Manufacturing, Oil & Gas Industry, and Others. Construction and Infrastructure segment expected to gain maximum revenue by 2027 owing to the rapid pace of urbanization and rising industrial activities in emerging economies such as China and India led to the rise in number of high-rise buildings for commercial purposes. Additionally, government funding for houses in developing counties will influence the construction and infrastructure industry.
The industrial segment will drive by its application for making flowlines, structural components, heat exchangers, umbilicals, and processing equipment.
Based on geography, the global steel rebar market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific estimated to occupy the lion’s market share by 2027, owing to the growing demand for steel rebar consumption in the construction industry coupled with rapid industrial and infrastructural development in developing countries such as Japan, China, South Korea, and India.
Europe will drive by the various European governments’ supports the construction industry in terms of financial support that will trigger the growth steel rebar industry in these regions.
Companies such as ArcelorMittal, Gerdau SA, Nucor Corporation, Nippon Steel & Sumitomo Metal Corporation, SAIL, TATA Steels, Commercial Metal Company, Steel Dynamics, HBIS GROUP, Mechel Pao, Outokumpu Oyj, Acerinox s.a., Daido Steel, Shagang Group, Ansteel Group Corporation Limited, JFE Steel Corporation, Bluescope Steel Limite, Celsa Steel Uk, and Hyundai Steel are the key players in the Global Steel Rebar Market.
By Finishing Type
By End-User Industry