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Steel Rebar Market Worth USD 154.08 Billion by 2021

Saturday, May 20, 2017
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The report Steel Rebar Market by Type Deformed Steel, Mild Steel, Process Basic Oxygen Steelmaking Process, Electric Arc Furnace Process, End User Infrastructure, Housing and Industrial, Region Global Forecast to 2021, published by MarketsandMarkets, the market is projected to reach USD 154.08 Billion by 2021, at a CAGR of 5.0% from 2016 to 2021.

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Growing usage of steel rebar in infrastructure, housing, and industrial segments is fueling the growth of the steel rebar market. This growth is mainly attributed to the rise in demand for steel rebar from the construction industry.

Infrastructure segment is projected to be the largest and fastest growing segment of the steel rebar market by 2021

The infrastructure segment is estimated to have accounted for a major share of the steel rebar market in 2016, followed by the housing, and industrial segments. The use of steel rebar increases the tensile strength of surrounding concrete structures in highways, bridges, and pillar structures. Increasing project counts of highway, bridges, and structural engineering are fueling the growth of the steel rebar market in the infrastructure segment.

Modernization and maintenance of infrastructure projects has led to the increasing demand for steel rebar. Increasing infrastructure projects across the globe, especially in the Asia Pacific is another major factor, driving the growth of the steel rebar market during the forecast period.

Deformed steel segment is projected to be the largest and fastest growing segment in the steel rebar market by 2021

The deformed steel bar segment is the largest and fastest growing segment by type in the steel rebar market. Deformed bar, formed from carbon steel and provided with ridges for better mechanical anchoring in reinforced concrete, is used in applications such as reinforced concrete slabs, cages, columns, prefabricated beams, and precast products. This deformation of the bar helps in increasing the bond between materials and minimizes slippage in concrete, which is fueling the rapid growth of the deformed bar segment.

The steel rebar market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period

The Asia Pacific Steel Rebar Market is projected to grow at the highest CAGR between 2016 and 2021. Growth in this market is mainly attributed to the increasing steel rebar consumption in the construction industry. China and India are the key markets for steel rebar. China plans to invest around USD 720 billion in its infrastructural projects by the end of 2019. Similarly, there are a large number of infrastructural projects in the pipeline in India. In addition, strong policy initiatives such as the mandatory use of domestic steel in government infrastructural projects and Make in India are expected to support the growth of the domestic steel rebar market.

Major market players covered in the report are ArcelorMittal Luxembourg Gerdau S.A Brazil, Nippon Steel & Sumitomo Metal Corporation Japan, Posco SS Vina, Co. Ltd Vietnam, Steel Authority of India Limited India, Tata Steel Ltd. India, Essar Steel India, Mechel PAO Russia, EVRAZ plc U.K., Sohar Steel LLC Oman, Celsa Steel UK U.K., Kobe Steel, Ltd. Japan, Jiangsu Shagang Group Co., Ltd. China, NJR Steel South Africa, Commercial Metals Company U.S., The Conco Companies U.S., Barnes Reinforcing Industries pty Ltd South Africa, Jindal Steel & Power ltd. India, Steel Dynamics, Inc. U.S., Steel Asia Manufacturing Corporation Philippines, Outokumpu Oyj Finland, Acerinox S.A. Spain, Hyundai Steel Company South Korea, Daido Steel Co., Ltd. Japan, and Byer Steel Group Inc. U.S..

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Source:prnewswire.com

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