Increasing demand from end user segment is driving the growth of steel rebar mar
Posted by white123 on November 22nd, 2019
Steel Rebar Market is projected to reach USD 154.08 Billion by 2021, at a CAGR of 5.0% from 2016 to 2021. 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.Also See: Steel Rebar, Rebar Market, End User, Steel Ltd, Steel, Rebar, Housing
The steel rebar market by end user has been classified into infrastructure, housing, and industrial segments. Infrastructure is the largest and fastest-growing segment, as steel rebar is widely used in infrastructure projects which include bridges, highways, dams, and stadia, among others.
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Infrastructure is a major end user of steel rebar. This sector includes all projects of roads, highway and bridge construction, sewage systems, airports, and stadiums. The use of steel rebar increases the tensile strength of surrounding concrete structures in highway bridges and pillar structures. Nowadays, project contractors are using advanced steel rebar with a galvanized coating to prevent corrosion to be used in critical highway projects. The availability of such advanced steel rebar coating makes it one of the most durable products for infrastructural projects.
The housing sector is the second-largest consumer of steel rebar in the world. This segment includes all major housing, real estate, schools, hospitals, and commercial shopping complexes. Steel rebar is an important constituent in these construction projects. Growing urbanization and migration of people from rural areas to urban cities are important factors driving the housing sector. This trend is expected to be prominent in emerging economies such as India and China, which makes Asia-Pacific the largest region for the housing segment of steel rebar. However, the demand for housing in developed countries is dependent on the credit growth and investment returns of the real estate sector. The Middle East & Africa is expected to be the fastest-growing steel rebar market for housing due to the extensive demand from the housing segment, which includes residential complex, shopping malls, hospital, buildings, and other housing projects.
The industrial segment includes all construction projects in the energy and power industry, water treatment plants, industrial warehouses, oil & gas construction, and telecommunication infrastructure. The demand for steel rebar in hydropower projects, industrial warehouses, and cold storage units are expected to be significant as compared to other end-use industries.
Key companies operating in the steel rebar market include 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 U.K. (U.K.), Kobe Steel Ltd. (Japan), Jiangsu Shagang Group (China), NJR Steel (South Africa), These players are engaged in the manufacture and supply of steel rebar and have a strong regional presence.