Market Overview
The steel rebar industry held a global market value worth USD 198.7 billion by the end of 2019. During the current period, the market is projected to reach USD 246.3 billion and hence, a global CAGR of 4.4% between 2021-2028. There has been an increase in building & construction activities, playing a significant role in recovering the construction sector and activities in Europe. Similar trends are propelling in various global locations will help the steel rebar market share at the global level by the end of the forecast period in 2028.
The global market has been witnessing a massive backlash in terms of marketing, production, functioning, and manufacturing that are causing significant disruptions in the global market's demand and supply chain mechanism during the forecast period ending in 2028. The global market has been witnessing a shortage of skilled labor, raw material, resources, and much more that might have a significant challenge for the market to grow and dwell based on the predictions that the business analysts have laid for the forecast period of 2021-2028.
The steel rebar prices per ton analysis shows a considerable surge in non-residential construction activities in global regions like the North American region. The global market is witnessing the growth of product portfolios followed by a shift in the market trends towards the enhanced use of higher grades and degrees of steel rebar, as a market product.
Market Segmentation
The steel rebar market has been divided based on the type, end-users, and region.
Based on the Type
The market has been divided based on the type into deformed, mild, and various others (stainless-steel rebar, epoxy-coated rebar, and the European rebar)—the size of the mild ranges between 6mm to 50 mm.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into the commercial construction industry, residential construction industry, infrastructure industry. The residential construction industry holds the largest market share as it holds 45% market value, followed by the infrastructure industry, which holds 35% market value.
Based on the Region
The market has been divided worldwide based on the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
Regional Analysis
Being the fastest-emerging region, the largest market share in the global market is held by the Asian Pacific region because of the presence of countries like South Korea, Japan, China, and India, which are regarded as the main junctions of the automobile, commercial construction, and residential construction and hence drives the market demand in this region. Moreover, increasing urbanization and industrializations are other factors that creates more market demand in this region.
The key players are as follows:
- POSCO (South Korea)
- Tata Steel (India)
- SHAGANG GROUP Inc. (China)
- JSW (India)
- SAIL (India)
- NLMK (Russia)
Industry News
In November 2021, Nucor Corp. unveiled plans to make net-zero carbon steel available throughout its product lines in 2022, which includes bar sold through its concrete reinforcement production, distribution, and installation businesses, Harris Rebar and Harris Supply Solutions. The producer and a solar array operator signed a 15-year electricity supply agreement for the Nucor Texas bar mill in New York before the Econiq launch, securing a net-zero Stage 1 profile. Nucor will purchase carbon offset credits to meet the Scope 2 emissions equation for Econiq shipments.
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