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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Steel Rebar MarketThe global steel rebar market size was valued at USD 214.9 billion in 2018 and is expected to grow at a CAGR of 7.2% from 2019 to 2025. The expansion of construction sector is anticipated to remain a key driver for market growth. Growing construction output, especially in emerging countries, such as China, Brazil, and India, and diversification program in the Middle East countries, are contributing to the demand for steel rebar. Major GDP contribution in the Middle Eastern countries comes from the oil & gas sector. However, countries in the region are focusing on the development of non-oil & gas sectors such as residential construction and infrastructure. For instance, the Saudi Arabian government, under its Saudi Arabia Vision Plan 2030, revealed an infrastructure investment plan worth USD 450 billion to reduce its dependency on the oil & gas sector for a more effective government, to diversify its economy, and build a robust society. The popularity of deformed steel rebar is increasing due to a demand for higher strength variant in construction structures. Deformed bars also help saving in terms of cost and steel required. For instance, if a bridge requires 1,000 tons of mild steel rebar for construction, with the help of deformed steel it can help achieve 600 tons of savings. Governments of various countries are promoting the use of high strength rebar to increase the lifespan and strength of construction structures. This has decreased the share of mild steel reinforcement bars in the global market. For instance, the Ministry of Housing and Urban-Rural Development, China, has issued guidelines to promote the use of earthquake-resistant and high-strength deformed steel rebar. Deformed steel rebar exhibits characteristics, such as better malleability and ductility, toughness, high yield strength, and corrosion & earthquake resistance, in comparison to mild steel products. It is economical and finds a wide range of applications in industrial structures, commercial and residential buildings, and bridges. Efficient sales channels have made it possible to fulfill the growing demand for reinforcement bars. Major manufacturers such as ArcelorMittal and Tata Steel have established their own sales websites to supply different products including reinforcing bars. These companies have listed different products on their sites with numerous specifications. Customers can choose the products on the website as per their requirements and make payment online.
Application Insights of Global Steel Rebar MarketIn terms of volume, the commercial segment is projected to grow at a CAGR of 3.0% from 2019 to 2025. Urbanization in various parts of the world has led to an increase in the number of high rise buildings for commercial purposes, which, in turn, has augmented the demand for steel rebar. As per Council on Tall Buildings and Urban Habitat (CTBUH), 127 buildings (height of 200 meter+) were completed in 2016 while144 buildings were completed in 2017 globally. Government funding for houses is one of the key drivers for the residential construction sector. For low-income families, the government provides subsidies and funds to make housing affordable. These subsidies help consumers access loans at lower interest rates for the purchase or construction of a new house. For instance, in Australia, the government provides funding of USD 15,000 for first-time home buyers. In terms of revenue, infrastructure segment accounted for a market share of 25.7% in 2018. As per a 2016 United Nations report, there is an average requirement of around USD 3.3 trillion annually in the global market to support infrastructure facilities. However, there is underinvestment in this segment which could fall short of USD 350 billion a year. Emerging economies are likely to remain key markets for steel rebar as 60% of infrastructure investments are projected to be attracted by these countries.
Regional Insights of Global Steel Rebar MarketAsia Pacific is the largest producer and consumer in this industry. The region accounted for a volume share of 71.2% in 2018. Emerging countries such as India and China generate a large demand for the products. Chinas 13th Five-Year Plan (2016 -2020) aims to target growth of 6.5% during the same period. This is expected to double the per capita income and gross domestic product (GDP) between 2010 and 2020. The action plan also focuses on the improvement of infrastructure. Some of the projects include high-density rail network, Beijings new airport, port cluster coordination, motorway networks, arterial network lines, waterway development projects, gateway airports, and international aviation hubs. The Middle East & Africa is projected to remain a lucrative market for vendors in steel rebar market. Countries such as the UAE and Saudi Arabia are highly focusing on the development of infrastructure. Focus on infrastructure such as healthcare facilities, school buildings, community buildings, and internal roads is triggering the demand for steel rebar in the UAE. The UAE government approved infrastructure projects in Fujairah and Sharjah for funding worth USD 270 million and USD 110 million, respectively, in 2019. In terms of volume, Europe is projected to grow at CAGR of 3.3% over the forecast period. Government initiatives to boost construction output are triggering the growth in this region. For instance, the Turkish government, under the Urban Renewal & Development initiative, is keen on building more than 7.5 million housing units. While a large investment is contributed by the private sector, the countrys government has allocated budget worth USD 400 billion for construction projects.
Steel Rebar Market Share InsightsKey vendors in the market offer a wide variety of steel products for use in different industries including automobile and construction. Companies are investing in different projects to improve their production capacities. For instance, in September 2017, ArcelorMittal announced USD 1 billion three-year investment program for its Mexico-based operations. The investment will be jointly made for improving the quality and productivity of the asset base at Lazaro Cardenas for mining operations in Mexico and for the construction of a new hot strip mill. ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Nucor Corporation, NLMK, Tata Steel, JSW Steel, POSCO, Shagang Group, and Steel Authority of India (SAIL) are some of the industry participants.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Steel Rebar Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the submarkets from 2014 to 2025. For the purpose of this study, this market research report has segmented the global steel rebar market report based on application and region:
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1 Methodology and Scope 1.1 Market segmentation & scope 1.2 Market definition 1.3 List of data sources 1.4 Information procurement 1.5 Information analysis 1.6 Market formulation & data visualization 1.7 Data validation & publishingChapter 2 Executive Summary 2.1 Market outlook 2.2 Segmental outlook 2.3 Segmental outlook 2.4 Competitive insightsChapter 3 Steel Rebar Market | read more...