Press Release

North America Rebar Steel Market is Dominated by Commercial End User Until 2028

The North America rebar steel market is expected to witness growth during the forecast period, 2024-2028, due to the rising demand  of construction  material.

According to TechSci Research report, “North America Rebar Steel Market - By Country, Competition, Forecast & Opportunities, 2028, the North America rebar steel market is expected to register a high CAGR during the forecast period owing to a rise in the demand for rebar steel from the construction sector and government programs in the country. For instance, Steel Dynamics, Inc. announced in May 2022 that it had acquired the Mexican scrap processor Roca. Roca is capable of processing 850,000 gross tonnes of steel annually. This transaction is anticipated to boost Steel Dynamics, Inc.'s ability to source raw materials in North America, during the forecast period.

The North America rebar steel market is divided into type, end use, process, finishing type, and country. Based on process, the market is divided into basix oxygen steelmaking and electric arc furnace. Based on type, the deformed segment is the dominant segment in the North America rebar steel market, and it is anticipated to develop at the greatest CAGR during the projection period. Deformed rebar steel ranks as the largest global rebar steel due to its higher flexibility and malleability compared to mild rebar steel and its deformed surface, which makes it easier for materials to link together and reduces slippage in concrete globe during the projected term.

Based on end user, the North America rebar steel market is dominated by the commercial sector segment, which held approximately 30% market share in 2022. The expansion of industrial infrastructure is a major factor in the rising demand for rebar steel. Rebar steel is used as a raw material in industry and is utilized to increase the tensile strength of concrete.

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Based on finishing type, the market is segmented by epoxy-coated rebar, carbon steel rebar, and others. Based on country, the market is divided into the US, Canada, and Mexico. During the course of the projection period, it is predicted that rising investments in projects, including the construction of affordable housing units, the expansion of public transit systems, and communication networks will have a favorable impact on market growth. A study by the Massachusetts Institute of Technology (MIT) also revealed that to meet the nation's rising housing demand, Mexico would need to invest almost 4% of its GDP in the construction of 800,000 residential spaces. Thus, it is projected that Mexico's growing need for residential construction will aid in the country's market expansion between 2022 and 2030.

With increased innovation and advancement in the rebar steel industry, there will be considerable commercial opportunities for both established and emerging market players. Technological advancements and high-end applications promote rebar steel innovation. Recent grades include Fe-500, Fe-550, and Fe-500D. Corrosion-resistant, epoxy-coated, and earthquake-resistant applications use modern steel rebar. The industry is anticipated to grow as a result of increased public transit funding, rising urbanisation, and expanding infrastructure.

The use of deformed rebar steel is increasing as a result of the demand for higher strength versions in construction projects. Deformed bars can save money by using less steel, which is another benefit. Deformed rebar steel is more malleable and ductile, tougher, has a higher yield strength, and is more resistant to corrosion and earthquakes than mild steel products. It is affordable and has many applications in bridges, as well as in commercial and residential buildings and industrial constructions.

Key market players in the North America rebar steel market include:

  • Gerdau S.A
  • Commercial Metals Company
  • Steel Dynamics, Inc
  • Schnitzer Steel Industries, Inc
  • Acerinox S.A
  • EVRAZ North America, Inc
  • Pacific Steel Group
  • ArcelorMittal
  • Nucor Corporation
  • Ternium S.A.

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“The North America rebar steel market is anticipated to grow during the projected period due to the use of rebar steel in construction to improve infrastructures and minimize the effects of stressors such as temperature and strain. Massive public and private sector projects funded by the Public Investment Fund, the royal commissions in charge of the major urban areas, the appropriate ministries, and the private sector are driving a substantial number of initiatives and opportunities,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

 

North America Rebar Steel Market Segmented by Type (Deformed, Mild), By End Use (Residential, Commercial, Industrial, Public), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By Finishing Type (Epoxy-Coated Rebar, Carbon Steel rebar, Others), By Country, Competition Forecast and Opportunities, 2028 has evaluated the future growth potential of the North America 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 North America rebar steel market.

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