Steel Rebar Market Size By Product (Deformed, Mild), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By Application (Residential Buildings, Public Infrastructure, Industrial), Industry Analysis Report, Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Dec 2019  |  Report ID: GMI2081  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 350   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Steel Rebar Market size was valued at USD 136.6 billion in 2018 and will witness 4.7% CAGR during the forecast timespan.
 

Steel Rebar Market

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Steel rebar or reinforcement steel is a bar or steel wires mesh used as a tension device in reinforced concrete and masonry structures in order to strengthen and aid the concrete under tension due to its weak tensile strength. Flourishing infrastructural developments and installation of new industrial plants in the developing markets are in favor for modern, state-of-the-art technology. Growing population, per capita income and changing standards of living will boost residential sector in upcoming years. Global construction expenditure is projected over USD 10 trillion by 2024. For instance, The World Smart Cities Organization (WSCO) that plays an essential role in the sustainable development of the communities across the globe has prompted several regional governments to increase budgetary expenses for infrastructural projects. This has led to development of major housing and smart city projects to support the growth of residential sector. They are investing sizable resources on infrastructural development projects such as bridges, institutions, and public utilities that will subsequently accelerate the pace of socio-economic development.
 

Durability, high yield strength, thermal resistance and malleability characteristics of the product will help in driving overall market of steel rebar in the near future. Steel is mainly used as rebar because elongation of steel due at high temperatures is closely resembles that of concrete. They have similar coefficients of thermal expansion thereby minimizing differential stress on concrete structures. Rising demand in the construction industry will propel the global steel market size. For instance, in 2013 accumulated construction volume in ASEAN (Indonesia, Philippines, Malaysia, Thailand, Singapore, Vietnam,) accounted for over USD 16 Billion but within a period of five years it grew to USD 24 Billion in 2018.
 

Increasing number of skyscrapers and high-end building constructions in the Middle east region coupled with growing demand for educational infrastructure in the region would also drive global construction industry. According to World Steel Association’s database, Saudi Arabia’s crude steel production increased by 8.33% from 2017 to 2018. However, depleting iron ore reserves and price volatilities associated with raw materials and finished product will cause uncertainty across the supply chain. Temporary slowdown of local demand will affect the market for a short period of time. However, future megaprojects and supportive policies will generate favorable outcome in near future.
 

Steel Rebar Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: USD 136.6 Billion
Historical Data for: 2016 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 4.7% 2026 Value Projection: USD 198.5 Billion
Pages: 350 Tables, Charts & Figures: 268
Geographies covered (30): U.S., Canada, Europe, Austria, Czech Republic, France, Germany, Italy, Netherlands, Poland, Romania, Spain, Sweden, UK, Turkey, Russia, Ukraine, China, India, Japan, Australia & NZ, South Korea, Latin America, Brazil, Argentina, Mexico, Middle East & Africa, South Africa, Saudi Arabia, UAE
Segments covered: Product, Process, Application
Companies covered (20): Arcelormittal, Tata Steel, Steel Authority of India Limited (SAIL), Gerdau SA, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Mechel OAO, Acerinox S.A., Hyundai Steel, Daido Steel, Kobe Steel, Evraz PLC, Commercial Metals Company (CMC), Jindal Steel & Power, The Conco Companies, Posco Ss Vina, Barnes Reinforcing Industries, Outokumpu OYJ, Byer Steel, Celsa Steel UK
Growth Drivers:
  • Increasing demand from residential and commercial construction
  • Rising government initiative for better infrastructure development
  • Revival of the U.S. and European construction industry
  • Rising investment in the construction industry in the Middle East
Pitfalls & Challenges:
  • Price volatility and supply chain issues

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Deformed Steel Rebar Highly Popular

Deformed & Mild Steel Rebar Market

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Deformed steel reinforcing bar is the most preferred variant and accounted for over 70% of the market size with a CAGR of close to 5% in overall steel rebar market. They have indentation, ribs and lugs on the surface of the bar, which helps to overcome slippage unlike mild steel bar and helps achieve better bonding between concrete and rebar. They are flexible and have excellent tensioning ability, that is suitable for all types of projects including concrete cages, columns, slabs, prefabricated beams etc. however mild rebars can only be used for small scale projects.
 

Mild steel rebar industry was valued at more than USD 34 billion in 2018 and will grow at a decent rate in future. They are employed in concrete for application in column spirals, dowels at expansion joints, contraction joints in runway & roads etc. They are easy to cut and bend without damage. The typical tensile yield strength of these rebars is 40,000 psi.
 

Environmental benefits related to electric arc furnace process

Basic oxygen process segment held a prominent share of over 58% in overall steel rebar market. Through this process molten iron is produced in initial stage by smelting iron ore in a blast furnace. Pig iron and scrap steel is added to converter, high velocity oxygen is blasted into the molten iron which generates heat due to oxidation process. Remaining impurities are removed, and iron is refined into steel. Industry players are looking forward to investing more in recent technologies to minimize smelting time and cost of capital.
 

Electric arc furnace segment will grow at a significant rate in future owing to its wide applicability by rebar manufacturers across the globe. This process is highly dependent on recyclable materials such as scrap metals thereby creating low wastages and pollution. Scrap is melted and ladle treatment is provided. The products from electric arc furnace method are further processed in rolling mills to produce long products. Electric arc furnace contributes to less wastage and results in significant savings of energy & resources. It is cost effective and offers significant environmental benefits compared to basic oxygen steelmaking.
 

Growing Investments In Public Infrastructure Sectors

APAC Steel Rebar Market By Application Sector

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Public infrastructure will grow at significant rate of close to 5% CAGR followed by residential buildings segment. Future mega infrastructure development projects backed by huge investments will propel the demand of steel rebar in future. Additionally, governments in developing nations has initiated various projects which includes the construction of educational hubs, retail shopping centers, amusement/recreation, hospitals, hotels etc.
 

Residential buildings involve housing societies, single-unit buildings, multi-family dwellings, duplex, apartments etc. Growing suburban population in Asia Pacific and the Middle East has led to increased construction expenditure. These trends are likely to make substantial impact on the market size in the forecast timeframe.
 

APAC will drive the steel rebar industry demand

Asia Pacific is projected to be the major steel rebar market due to high degree of industrialization and construction activities in APAC countries and presence of huge production capability of these rebars in the region. APAC is also dominated by a large number of small and medium scale manufacturers, especially in India, China, South Korea, Japan. In addition, Indonesia spending on infrastructure is estimated to surpass USD 165 billion by 2025, thereby creating a substantial impact on market.
 

Adoption of innovative solutions through R&D to attain competitive advantage By Industry Players

Key participants operating in the steel rebar market share include Arcelormittal, Tata Steel, Gerdau SA, Steel Authority of India Limited (SAIL), Hyundai Steel, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Mechel OAO, Celsa Steel UK, Acerinox S.A., Daido Steel, Kobe Steel, Evraz, Commercial Metals Company, Jindal Steel & Power, Conco Companies, Posco Ss Vina, Barnes Reinforcing Industries. In December 2017, Acerinox’s Group and General Foundation CSIC entered into a collaboration agreement to promote research activities and improve the production processes of stainless steel.
 

Steel rebars market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million tons & revenue in USD million from 2016 to 2026, for the following segments:

Market Analysis by Product

  • Deformed
  • Mild

Market Statistics by Process

  • Basic oxygen steelmaking
  • Electric arc furnace

Market Analysis by Application

  • Residential buildings
  • Public infrastructure
  • Industrial

Market Statistics by Region

North America

  • U.S.
  • Canada

Europe

  • Austria
  • Czech Republic
  • France
  • Germany
  • Italy
  • Netherlands
  • Poland
  • Romania
  • Spain
  • Sweden
  • UK
  • Turkey
  • Russia
  • Ukraine

Asia pacific

  • China
  • India
  • Japan
  • Australia & NZ
  • South Korea

Latin America

  • Brazil
  • Argentina
  • Mexico

Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE
     

Frequently Asked Questions (FAQ) :

Steel rebar or reinforcement steel is a bar or steel wires mesh used as a tension device in reinforced concrete and masonry structures in order to strengthen and aid the concrete under tension due to its weak tensile strength.
Deformed steel reinforcing bar is the most preferred variant and accounted for over 70% of the market size in 2018 says a GMI Report.
According to this report, Asia Pacific is projected to be the major steel rebar market due to high degree of industrialization and construction activities in APAC countries and presence of huge production capability of these rebars in the region.
The steel rebar market demand from public infrastructure will grow at significant rate of close to 5% CAGR during 2019-2026 followed by residential buildings segment.

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Premium Report Details

  • Published Date: Dec 2019
  • Pages: 350
  • Tables: 257
  • Charts / Figures: 11
  • Companies covered: 20
  • Countries covered: 30

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