Steel Rebar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Deformed, and Mild), End-user Industry (Residential, and Non-Residential), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa). The report offers market size and forecasts for Steel rebar market in revenue (USD million) for all the above segments.

Market Snapshot

steel rebar market size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The market for steel rebar is expected to grow at a CAGR of greater than 4% during the forecast period (2022-2027).

Due to the COVID-19 outbreak, nationwide lockdown around the globe, disruption in manufacturing activities and supply chains, production halts and labour unavailability have negatively impacted the steel rebar market. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market studied during the forecast period.

  • The worldwide demand for steel rebar from the non-residential sector for the construction of commercial, infrastructural, religious, hotels, recreational, and educational buildings, is driving the market of Steel Rebar.
  • Availability of cheap substitutes of steel rebar is likely to hinder the market in the forecast period.
  • Asia-Pacific region is forecasted to be the fastest-growing steel rebar market owing to the increasing investments for the construction of new projects for infrastructural expansion across various countries in the region.

Scope of the Report

The Steel Rebar Market is segmented into type, end-user industries and geography. By type the market is segmented into deformed and mild. By end-user industry the market is segmented into residential and non-residential. The report also covers the market size and forecasts for the Acetone Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Deformed
Mild
End-user Industry
Residential
Non-Residential
Commercial
Infrastructure
Institutional
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand from the Non-Residential Sector

  • With increasing urbanization, steel rebars are experiencing its extensive utilization from the non-residential segment, like the oil & gas industry, infrastructure, commercial construction, corporate buildings, etc.
  • According to U.S. Census Bureau, the total construction output in the United States is estimated to be USD 1,639.86 billion in December 2021, where the non- residential sector accounts for USD 820.73 billion, registering a growth of 3.9% compared to the same period previous year.
  • As per White House briefing, in the United States, 1 in 5 miles of highways and major roads, and 45,000 bridges, are in poor condition. The legislation will reauthorize surface transportation programs for five years and invest USD 110 billion in additional funding to repair our roads and bridges and support major, transformational projects.
  • In Union budget 2022-23, the Indian Government have allocated INR 1.34 lakh crore for National Highway Authority of India (NHAI), registering an increase of 133% compared to last year, thus augment the market studied.
  • One of the major projects include, the construction of new Indonesian capital on Borneo Island named Nusantara, to replace Jakarta, 40% of which is estimated to be submerged by 2050. The construction of new capital from the ground up is estimated to cost USD 32.4 billion.
  • All the above mentioned factors are expected to propel the demand for steel rebar during the forecast period.
Steel Rebar Market - Revenue Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is anticipated to be the largest consumer of the steel rebar as a result of the infrastructure development in emerging countries and upcoming projects in the region.
  • By the end of 2020, the Asia-Pacific region is projected to lead the construction spending accounting for almost 46% of the share globally with counties like China, India, Indonesia making the major contribution in the industry.
  • China is in experiencing massive growth in its construction sector. According to National Bureau of Statistics of China, in 2021, the construction output in China is valued at approximately CNY 29.31 trillion.
  • In the Indian Union Budget 2022-23, capital expenditure on infrastructure has been increased sharply by 35.4%, from INR 5.54 lakh crore to INR 7.50 lakh crore in 2022-23, which include a total of 2,000 km of rail network, 60,000 houses under PM Aawas Yojna, among others.
  • Indonesia also plans to develop USD 1 billion worth 900 MW hydropower project in Kayan River in the North Kalimantan (Kaltara) province. The project stands at EPC stage with startup date planned for 2022. Post completion of the construction, the project is expected to get commissioned in 2025.
  • Japanese construction industry is expected to be blooming as the country will host the World Expo in 2025 in Osaka, Japan. Furthermore, Yaesu redevelopment project along with a 61-storey, 390 m tall office tower due for completion in 2023 and 2027 respectively.
  • Thus, rising demand from various countries is expected to drive the market studied in the region during the forecast period.
Steel Rebar Market Regional Trends

Competitive Landscape

The Steel Rebar market is partially fragmented. Some of the players (not in any particular order) operating in the business include ArcelorMittal, Gerdau S/A, Nucor, Mechel and SAIL among others.

Recent Development

  • In Feburary 2022, Nucor Corporation announced that it has successfully completed its acquisition of a majority ownership position in California Steel Industries, Inc. (CSI), resulting in CSI becoming a joint venture company owned 51% by Nucor and 49% by JFE Steel. CSI is a flat-rolled steel converter with the capability to produce more than two million tons of finished steel and steel products annually.
  • In December 2021, Nucor Corporation announced that the Company has approved the construction of a rebar micro mill, with spooling capabilities, to be located in the South Atlantic region. The budgeted capex for the new micro mill is USD 350 million. It will have an annual capacity of 430,000 tons.
  • In November 2021, Mechel PAO reports supplying approximately 22,000 tonnes of rails and other steel rolls for construction of Moscow Metro’s Bolshaya Koltsevaya Line (Large Circle Line).
  • In April 2021, Chelyabinsk Metallurgical Plant (part of Mechel Group) launched a new line producing thermo-strengthened rebar at the plant’s mill. Investment in the project totaled 100 million rubles. The line’s production capacity is 200,000 tonnes of rebar a year.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapidly Growing Construction Industry in Asia-Pacific Region

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Availability of Substitutes for Steel Rebar

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Deformed

      2. 5.1.2 Mild

    2. 5.2 End-user Industry

      1. 5.2.1 Residential

      2. 5.2.2 Non-Residential

        1. 5.2.2.1 Commercial

        2. 5.2.2.2 Infrastructure

        3. 5.2.2.3 Institutional

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ArcelorMittal

      2. 6.4.2 Celsa Steel (UK) Ltd.

      3. 6.4.3 Contractors Materials Company

      4. 6.4.4 Daido Steel Co., Ltd.

      5. 6.4.5 Essar Steel

      6. 6.4.6 Gerdau S/A

      7. 6.4.7 HYUNDAI STEEL

      8. 6.4.8 JFE Steel Corporation

      9. 6.4.9 Jiangsu Shagang Group Co., Ltd.

      10. 6.4.10 KOBE STEEL, LTD.

      11. 6.4.11 Mechel

      12. 6.4.12 NIPPON STEEL CORPORATION

      13. 6.4.13 Nucor

      14. 6.4.14 SAIL

      15. 6.4.15 Sohar Steel Group

      16. 6.4.16 Tata Steel

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Demand Due to Rising Infrastructural Activities in Developing Countries

**Subject to Availability

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Frequently Asked Questions

The Steel Rebar Market market is studied from 2017 - 2027.

The Steel Rebar Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

ArcelorMittal, Gerdau S/A, Nucor, Mechel, SAIL are the major companies operating in Steel Rebar Market.

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