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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, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI2081
  • Published Date: Jan 2021
  • Report Format: PDF

Industry Trends

Steel Rebar Market size valued at USD 99.48 billion in 2020 and will showcase a growth rate of around 4% CAGR from the period of 2021 to 2027. Growing urbanization, population, and rising disposable income levels of people are driving the residential and commercial construction activities, thereby supporting the industry growth.

Booming infrastructural developments and establishment of new industrial plants in the emerging economies, such as India and China, are supporting the product demand. Rising per capita income, growing population, and improving standards of living will offer a positive outlook for the residential sector in the upcoming years. Moreover, several countries across the globe, such as India and others, are proposing major smart city and housing projects to support the residential sector.

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Rapid urbanization is offering opportunities to emerging economies for development and economic growth. Supportive efforts are being made by several regions to offer solutions to key challenges faced. These efforts include smart city projects, forming policies to support residential construction industry along with others. According to the Master Plan on ASEAN Connectivity 2025, around 26 pilot smart cities have been selected from ten ASEAN Member States in the ASEAN Smart Cities Network (ASCN). All these activities will support the demand for reinforced bar over the forecast timeframe.

Mechanical properties of reinforced steel, such as high yield strength, malleability, durability, and thermal resistance, will help in driving the overall steel rebar market. Steel is used as a reinforced bar owing to its elongation property in high temperatures, nearly equaling concrete. The proliferating industrialization across the globe will drive product consumption till 2027.

The rising popularity of skyscrapers and high-end building constructions in the Middle East coupled with regain of the construction industry in Europe will also drive the global construction industry. According to the World Steel Association database, crude steel production of Saudi Arabia stood around 8,191 thousand tons in 2019. However, frequent fluctuations of raw material prices and finished products along with depleting iron ore reserves may adversely impact the supply chain. Slowdown of demand for finished steel products owing to COVID-19 pandemic adversely affected the market in 2020 and is expected to have the impact for a short time. Furthermore, supportive government policies and future megaprojects will generate favorable outcome in the near future.

Deformed steel rebar dominate the market owing to minimum slippage over concrete and development of new products

Deformed steel reinforcing bar dominates the industry and accounts for around 75% of the volumetric steel rebar market size in 2020. The product has ribs & lugs on the surface and indentation, enabling it to overcome slippage unlike mild steel bar and helping to achieve good bonding between rebar and concrete. They have excellent tensioning ability and are flexible, thus being suitable for all types of projects including columns, prefabricated beams, concrete cages, slabs, etc. Additionally, development of new deformed products, such as compact coil of deformed reinforcing bar, will further support the market demand.

The new product developed by Topy Industries requires only one-third of the storage space as that of straight bars. Further, straight bars are around 12-meters long, however the new product is 2,000-meter-long, allowing any product length to be selected and drastic reduction in bending and cutting work at the construction site.

Environmental benefits related to electric arc furnace process are supporting its adoption

The electric arc furnace segment will exhibit a faster pace and is expected to showcase around 4% CAGR through 2027 owing to its widespread adoption by rebar producers across several regions such as Asia Pacific and the Middle East & Africa. The electric arc furnace process involves the usage of recyclable materials including scrap metals, thereby generating low pollution along with limiting wastage compared to other processes. The products manufactured from this process can further be processed in the rolling mills for development of long bar products. This process results into noteworthy savings of resources & energy and contributes to lower wastage. It offers substantial environmental benefits than basic oxygen steelmaking and is a cost-effective method.

Growing investments in the public infrastructure sector

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The steel rebar market from public infrastructure application is predicted to generate around USD 84 billion revenue by 2027. Mega infrastructure development projects backed by huge investments and supportive policies for FDI in the construction industry will drive the demand for reinforced bar products. Moreover, the governments in emerging economies have introduced various projects including the construction of retail shopping centers, educational hubs, hotels, and amusement/recreation. The healthcare sector has experienced a large increase in the number of people with insurance coverage, creating increased demand for hospitals and other medical facilities.

Asia Pacific steel industry will drive the market

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Asia Pacific will be the largest steel rebar market due to rapid construction activities and proliferating industrialization across the region. APAC is forecast to expand at around 4% CAGR from 2021 to 2027. Several regional countries including India, China, South Korea, and others have large production capability of these reinforced bars. The region is also dominated by many small and medium-scale rebar manufacturers, especially in China, Japan, South Korea, and India. In addition, investments in infrastructure by Indonesia are estimated to surpass USD 165 billion by 2025, thereby creating large market growth opportunities.

R&D investment, strategic collaboration, and product development are among key initiatives for enhancing competitiveness

Key manufacturers operating in the steel rebar market include Tata Steel, Arcelormittal, Gerdau SA, Hyundai Steel, Steel Authority of India Limited (SAIL), Essar Steel, Nippon Steel & Sumitomo Metal Corporation, Celsa Steel UK, Mechel OAO, Daido Steel, Acerinox S.A, and others. Industry players are engaged in strategic collaborations, product developments, R&D investments, among others to enhance their market shares. For instance, in December 2017, General Foundation CSIC and Acerinox’s Group entered into a collaboration agreement to promote R&D activities and improve the production processes of stainless steel.

This market research report on steel rebar includes in-depth coverage of the industry with estimates & forecast in terms of volume in million tons & revenue in USD million from 2017 to 2027 for the following segments:

Market by Product

  • Deformed
  • Mild

Market by Process

  • Basic oxygen steelmaking
  • Electric arc furnace

Market by Application

  • Residential buildings
  • Public infrastructure
  • Industrial

Market 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


Authors: Kiran Pulidindi, Sayan Mukherjee

Frequently Asked Questions (FAQ) :

The global steel rebar market size was valued at USD 99.48 billion in 2020 and is estimated to record a 4% CAGR through 2027.
Deformed steel rebars dominated global steel rebar industry in 2020 with a 75% volume share and will continue to witness rapid adoption owing to high flexibility and tensioning ability.
The market share from electric arc furnace segment is projected to grow at a 4% CAGR over 2021-2027 on account of advantages including use of recyclable materials, lower pollution and reduced wastage.
The steel rebar industry share from public infrastructure application is expected to hit USD 84 billion by 2027 with upcoming mega construction projects backed by massive investments.
The APAC steel rebar industry share is likely to expand at a CAGR of 4% through 2027 driven by rapid infrastructure and industrial development.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 20
  • Tables & Figures: 264
  • Countries covered: 27
  • Pages: 250
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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