The Global Steel Rebar Market is expected to register a CAGR of 4.2%, reaching a value of around USD 229 billion by the end of 2027.
Steel rebar also popularly known as steel reinforcement bar, reinforcing bar/ steel or reinforcement steel. It is a superior and versatile composite construction material in all concrete and masonry structure, which is used as tensioning device for reinforcing the cement and holding other essential construction material at respective place in the compressed state. Rebar is formed when steel is melted through exposure to an extreme amount of heat. After this, the melted steel is allowed to pass through a small circular opening to obtaining an elongated shape of rebar. It is used in construction activities to impart additional strength. Rebar has gained huge popularity in the construction sector for the manufacturing of reinforced concrete.
Market Driver:
Construction is the key application area for the steel rebar market, as steel acts as the prime construction material to cater to the versatile need of the infrastructure. Steel rebar is used in the construction of all infrastructure for imparting higher strength to the concrete. The construction is growing against the backdrop of the rising demand for new infrastructure dedicated to residential and commercial building. With the awake of COVID-19 pandemic, the construction activities have slowdown as the government has imposed strict lockdown to prevent the spread of the virus. A temporary shift towards reducing investment in the new residential construction has halted newer pipelined projects.
Steel has become one of the prevalent construction materials used along with the concrete for constructing durable and impressive buildings. It has cost-effective material with superior flexibility and versatility. Growing application of steel across construction, automotive, electrical appliances, transport is driving the steel demand. The current COVID crisis has affected the steel demand, as the construction, automotive production and mechanical machinery is heavily exposed to the overall demand and supply chain disruption. Nevertheless, the release of lockdown from the China and economies countries.
Market Opportunity:
Steel reinforcing bars or rebar is the eco-friendly construction material, which can be recycled. The Concrete Reinforcing Steel Institute stated that over 7 million tons of scrap steel are recycled into reinforcing bars annually, which helps in reducing the massive energy expenditure. Green Building contributes to eliminating the overall negative impacts on the environment. Rising concerns regarding reducing the environmental impact related to construction activities drive the demand towards constructing green buildings. Also, decreased operating costs and short payback periods promote the preference towards green buildings. Thus, rising construction of the green buildings is projected to act as a promising opportunity for the steel reinforcement bars market.
The report on the Steel rebar market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) Volume (Kiloton) |
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Segments Included |
Type and Application |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Steel Rebar Market, by Type
Steel Rebar Market, by Application
Steel Rebar Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STEEL REBAR MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
