United States Rebar Steel Market is Expected to be Dominated by Reservoir Optimization During the Forecast Period
Infrastructure
sector growth will be driven by expanding construction activities to witness
growth in United States Rebar Steel Market in the forecast period of 2024-2028.
According to TechSci Research report, “United States Rebar Steel Market - By Region, Competition, Forecast & Opportunities, 2028”, United
States Rebar Steel Market is anticipated to grow at a steady rate in the
forecast period, 2024-2028. United States Rebar Steel Market is growing owing
to increase in demand for steel rebar from the construction industry, which is
largely responsible for the development of the United States market for steel
rebar. Growth in the construction sector is anticipated to remain a key market
driver. Infrastructure development has a positive impact on the demand for
steel rebar. Construction industry’s contribution to US GDP is
at 4.00%, from 3.90% last quarter and 4.00% last year. It is less than the historical
average, which is 4.07%.
The first
phase of National Landing's new Amazon HQ2 office space, which started in
January 2020, is expected to be finished by 2023, according to Clark
Construction. The builder plans to finish installing the exterior on the office
buildings at Metropolitan Park by the end of summer of 2022, and after the
structures are complete, to begin creating the 2-acre planted courtyard. According to
projections, these investments will boost product demand in the United States.
Additionally, Samsung
revealed its plans to erect a USD 17 billion semiconductor production facility
in Taylor, Texas, northeast of Austin, in late November. In order to start
operations in 2024, Samsung intends to start building the factory in 2022. The project
was announced as a result of COVID-19 supply problems, which have led to a
worldwide scarcity of computer chips. These investments, it is predicted, will
increase product demand in the US.
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The United States Rebar Steel Market is
divided into type, end use, process, finishing type, and
region. Based on type, the market is divided into deformed, mild. Based on end
use, the market is segmented into residential, commercial, industrial, and public.
The key driver for increase in demand for steel rebar steel includes rise in
development of industrial infrastructure. The rebar steel is used in industrial
areas as a raw material and is used to improve the tensile strength of the
concrete.
Based
on process, the market is divided into basic oxygen steelmaking and electric
arc furnace. Based on finishing type, the market is segmented by epoxy-coated
rebar, carbon steel rebar, and others. 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 plays a significant role in the market expansion for
rebar steel.
Over 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 favourable impact on
market growth.
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 due to increased public transit funding, rising
urbanisation, and expanding infrastructure.
The use of deformed Rebar
Steel is increasing because 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 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.
Major companies operating in the United States Rebar Steel Market are:
- Acerinox S.A
- ArcelorMittal S.A.
- Commercial Metals Company
- EVRAZ U.S., Inc
- Gerdau S.A
- Liberty Steel USA
- Nucor Corporation
- Outokumpu India Pvt. Limited
- Schnitzer Steel Industries, Inc
- Steel Dynamics, Inc
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“The US 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 like temperature and many
other factors will drive the market. 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.
United States Rebar Steel Market
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 Region, Competition,
Forecast and Opportunities, 2028”, has evaluated
the future growth potential of United States Rebar Steel Market and provides
statistics & information on market size, structure, and future market
growth. The report intends 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 in the United States Rebar Steel
Market.
Contact
Mr. Ken Mathews
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Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
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