The Epoxy-Coated Rebar segment is expected to dominate the Global Rebar Steel Market in the forecast period
One
of the most compelling drivers behind the rise of the Rebar Steel Market is the
Rising Urbanization and Growing Demand for the Non-Residential Sector.
According
to TechSci Research report, “Global Rebar Steel Market - By Region,
Competition, Forecast & Opportunities, 2028”. The Global Rebar Steel Market is expected to grow with a
CAGR of 5.26% during the forecast period. Growth in the construction sector is
anticipated to remain a key market driver. Infrastructure development,
particularly in developing economies, has a positive impact on the demand for
steel rebar.
Based
on Type, the Deformed segment is the dominant segment in Global Rebar Steel
Market as During the projection period, the Deformed sector is anticipated to
develop at the greatest CAGR. Deformed steel rebar ranks as the highest global
steel rebar due to its higher flexibility and malleability compared to mild
steel rebar and its deformed surface, which makes it easier for materials to
link together and reduces slippage in concrete globe over the projected term.
Based
on Finishing Type, the market for rebar steel in Turkey is dominated by
epoxy-coated rebar. They are the most often used finishing type of rebar steel
because they operate as a barrier system to prevent moisture and chlorides from
eroding the surface of the reinforcing bar, which is a significant role in the
market expansion for rebar steel.
Based
on End Use, the Commercial sector segment dominates the Global rebar steel
Market. The key driver for the increase in demand for steel rebar steel
includes a rise in development of industrial infrastructure. Steel rebar steel
is used in industrial areas as a raw material and is used to improve the
tensile strength of the concrete.
During
the forecast period, Asia Pacific is expected to grow the most. The
Asia-Pacific region is anticipated to dominate the global market share. With
growing investments in residential and commercial construction in the
countries, such as India, China, the Philippines, Vietnam, and Indonesia, the
market for steel rebars is expected to grow in the coming years. China’s
massive construction sector has generated significant demand for the use of
steel rebars. Moreover, China is a huge contributor, as it has been one of the
leading investors in infrastructure worldwide over the past few years. For
instance, according to the National Bureau of Statistics (NBS) of China, in
2022, the output value of construction works in China amounted to 27.63
trillion yuan (USD 4108.581 billion), an increase of 6.6% compared with 2021.
Moreover, the residential sector in India is on an increasing trend, with
government support and initiatives further boosting the demand. According to
the India Brand Equity Foundation (IBEF), the Ministry of Housing and Urban
Development (MoHUA) allocated USD 9.85 billion in the 2022–2023 budget to
construct houses and create funds to complete the halted projects.
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Furthermore,
Indonesia expects to begin construction in the second quarter on apartments
worth USD 2.7 billion for thousands of civil servants due to move to its new
capital city on Borneo Island. Moreover, Indonesian government intends to
finance it for 80% through foreign investments. Therefore, this is expected to
create an upside demand for the consumption of steel rebars from the country’s
residential construction. Indonesia plans to develop a USD 1 billion worth 900
MW hydropower project in Kayan River in the North Kalimantan (Kaltara)
province. The project stands at the EPC stage, with a startup date planned for
2022. The project is expected to be commissioned after the completion of the
construction in 2025.
The
Japanese construction industry is expected to be booming as the country will
host the World Expo in 2025 in Osaka, Japan. Furthermore, the ESR Cayman, OS
Cosmo square Data Centre, Osaka project, valued at USD 2,000 million, was
Japan's largest building project, on which construction started in Q4 2022. The
ESR Cayman, OS Cosmo square Data Centre, Osaka project was announced in Q2 2021
in Osaka (City), Japan, with a completion date of Q1 2026. The second-largest
project, the MLIT Japan, Shitara Dam Development, Aichi, with a project value
of USD 570 million, began development in Q4 2022. The MLIT Japan, Shitara Dam
Development, Aichi project is in Japan and was announced in Q3 2022, with a
completion date of Q4 2034. Thus, rising demand from various countries is
expected to drive the market studied in the region during the forecast period.
Key
market players in the Global Rebar Steel Market include:
- ArcelorMittal
- Celsa Steel
(UK) Ltd
- Contractors
Materials Company (CMC)
- Daido Steel
Co., Ltd.
- Essar
- Gerdau S/A
- HYUNDAI
STEEL
- JFE Steel
Corporation
- Jiangsu
Shagang Group
- KOBE STEEL,
LTD.
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“Several
key drivers shape the global rebar steel market. Firstly, infrastructure
development initiatives, supported by governments and private sectors
worldwide, significantly influence demand. Rebar steel, known for its strength
and durability, is essential for constructing critical infrastructure like
roads, bridges, and airports. Secondly, rapid urbanization and population
growth drive the need for housing and commercial spaces, boosting the demand
for rebar steel. High-rise buildings and urban infrastructure projects rely on
rebar steel's structural reinforcement, and the focus on sustainability and
resilient construction practices propels the use of rebar steel. It plays a
crucial role in creating eco-friendly, disaster-resistant buildings and
infrastructure.
Moreover,
technological advancements, such as high-strength rebar, improve construction
efficiency and safety, stimulating market growth. In summary, infrastructure
development, urbanization, sustainability, and technological innovation are the
primary drivers of the global rebar steel market, making it a critical
component in the construction industry's evolution.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Rebar Steel
Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented by
Type (Deformed, Mild), By End Use (Residential, Commercial, Industrial,
Public), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By
Finishing Type (Carbon Steel Rebar, Epoxy-Coated Rebar, Others), By Region,
Competition, 2018-2028”, has evaluated the future growth potential of Global Rebar
Steel Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Rebar
Steel Market.
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