Global Steel Rebar Market Size 2024, Forecast To 2033

6 Mar, 2024

The steel rebar market has experienced strong growth, escalating from $245.46 billion in 2023 to $260.97 billion in 2024, representing a compound annual growth rate (CAGR) of 6.3%. The robust growth in the historical period is attributed to factors such as infrastructure development and construction projects, population growth and urbanization, government investments in construction, resilience and strength requirements in construction, and global economic growth and industrialization. Foreseeing strong growth in the next few years, the market is projected to reach $327.85 billion in 2028 at a CAGR of 5.9%. The expected expansion in the forecast period is linked to factors such as renewable energy infrastructure projects, smart cities and sustainable construction practices, an increasing demand for high-strength rebar, global recovery from the COVID-19 pandemic, and the expansion of transportation infrastructure. Key trends during this forecast period include innovations in sustainable steel production, technological advancements in steel manufacturing, the adoption of green and sustainable practices, the use of microalloying technology for enhanced performance, market expansion in developing economies, and the adherence to stringent quality standards and regulatory compliance.

Global Steel Rebar Market Key Driver

The growth in building and construction activities worldwide is a substantial contributor to the expansion of the steel rebar market. Building and construction activities, involving the business and manufacturing aspects of building, preserving, and repairing infrastructure, utilize steel rebars to reinforce and support concrete structures under tension. In 2022, data from the Bureau of Economic Analysis (BEA) indicated a 5.21% increase in the size of the US construction industry, rising from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Hence, the surge in global building and construction activities is poised to drive the steel rebar market, with market sizes of 2023, 2024, and 2028 playing a pivotal role in this growth trajectory.

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Global Steel Rebar Market Segments

The steel rebar market covered in this report is segmented –
1) By Product: Deformed, Mild
2) By Process: Basic Oxygen Steelmaking, Electric Arc Furnace
3) By Application: Residential Buildings, Public Infrastructure, Industrial
4) By End-Use Industry: Construction And Infrastructure, Manufacturing, Oil And Gas
By Geography:The regions covered in the steel rebar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain Asia-Pacific was the largest region in the steel rebar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global steel rebar market report during the forecast period. The regions covered in the steel rebar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Steel Rebar Industry Players

ArcelorMittal S.A., CELSA Steel UK Ltd., Commercial Metal Company, Daido Steel Co. Ltd., Gerdau S.A., Hyundai Steel Co. Ltd., Nippon Steel Corporation, Nucor Corporation, Steel Authority of India Limited, Jiangsu Shagang Group Company Limited, Steel Dynamics Inc., Tata Steel Limited, Jindal Steel & Power Ltd., The Conco Companies Inc., Barnes Reinforcing Industries Inc., Outokumpu Oyj, Novolipetsk Steel, Sohar Steel Group LLC, Mechel PAO, Acerinox S.A., Posco SS Vina Co. Ltd., Emirates Steel Industries PJSC, Qatar Steel Company, JFE Holdings Inc., KOBE STEEL LTD., Infra-Metals Co., A-1 Alloys Inc., Delta Steel Inc., Admiral Steel LLC, Eastern Steel Corporation, Addison Building Materials Inc.

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Steel Rebar Market Overview

Steel rebar refers to a metal bar that aids in boosting the concrete's tensile strength. The resilience of concrete structures to tensile, bending, torsion, and shearing loads is improved as a result.

Steel Rebar Global Market Report 2023 provides data on the global steel rebar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The steel rebar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.