Steel Rebar Market Analysis

Steel Rebar Market Analysis

The deformed steel rebar industry is poised to register notable growth during 2023 and 2032, as the product provides enhanced bonding capabilities with concrete, allowing for improved load transfer and resistance to slippage in concrete structures. Deformed steel rebar is widely used in construction projects, especially in reinforced concrete structures like buildings, bridges, and highways. The mechanical properties and ability to withstand tension make the product a preferred choice to ensure the structural integrity and durability of various infrastructural elements.
 

The electric arc furnace process segment of steel rebar market is slated to exhibit 4% CAGR through 2023. The process offers several advantages, including flexibility in raw material usage, reduced energy consumption compared to traditional blast furnaces, and the ability to produce a wide range of steel grades. It offers the flexibility of using various types of scrap metal as input, thereby reducing the need for primary raw materials that is inline with the sustainable practice of recycling. Furthermore, minimal GHG emissions and eco-friendly nature are boosting popularity of the process among the manufacturers.
 

The steel rebar market size from public infrastructure application is expected to expand significantly, as the product is widely utilized in various government-funded projects aimed at improving public facilities and services. Its high tensile strength and durability make it indispensable for ensuring the long-term stability and safety of public structures. According to new official U.S. website highlighting public & private investments, Invest.gov, the government diverted USD 225 billion towards building public infrastructure. As governments continue to invest in infrastructure development, the demand for steel rebar will stay strong in the coming years.
 

Asia Pacific steel rebar market will observe strong growth owing to the rapid urbanization, industrialization, and infrastructure development in the region. Notably, APAC is home to nearly 60% of global population, totaling to around 4.3 billion people. As emerging economies experience robust economic growth and increasing populations, the demand for residential, commercial, and public infrastructure projects rises, bolstering the need for steel rebar. The government initiatives, foreign investments, and advancements in manufacturing technologies, along with ongoing focus on sustainable development will position Asia Pacific as a promising avenue for the market players.