Steel Rebar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.74 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Steel Rebar Market Analysis
The Steel Rebar Market size is estimated at 136.89 Million tons in 2024, and is expected to reach 180.95 Million tons by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, production halts, and labor unavailability have negatively impacted the steel rebar market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, rising investments in infrastructure development projects and construction activities are some of the factors driving the growth of the market studied.
- On the flip side, the availability of cheap substitutes for steel rebar is likely to hinder the growth of the market studied.
- However, rising infrastructural activities in developing countries are anticipated to provide numerous opportunities over the forecast period.
- Asia-Pacific region dominated the market, owing to the increasing investments in constructing new projects for infrastructural expansion across various countries in the region.
Steel Rebar Market Trends
Growing Demand from the Non-Residential Sector
- With increasing urbanization, steel rebars are experiencing extensive utilization from the non-residential segment, like the oil and gas industry, infrastructure, commercial construction, corporate buildings, etc.
- The United States boasts a colossal construction sector that employs over 9.9 million employees as of January 2023. Playing a prominent role in commercial and non-residential construction, the United States construction sector exhibits a significant contribution to the country's economy. Due to increasing non-residential construction activities in the United States the consumption of steel rebar in the country is expected to increase.
- According to the United States Census Bureau, the value of new construction output in the United States amounted to USD 1,792.9 billion in December 2022. The non-residential sector accounted for USD 997.14 billion in March 2023, registering a growth of 18.8% compared to the same period the previous year.
- Moreover, according to the United States Census Bureau, the private and public construction nonresidential spending in June 2022 was 492.68 billion, which showed an increase of 1.74% compared to June 2021, which amounted to USD 484.26 billion. Therefore, increasing in the spending on private and public non-residential constructions in the country is expected to create an upside demand for steel rebar market.
- Apart from that, there are various construction commercial projects scheduled in the United States Red Bull North America's USD 740 million worth 2 million-square-foot processing and distribution facility in Concord, North Carolina; Dairy cooperative DairgoldUSD 500 million worth 400,000-square-foot processing facility in Port of Pasco, Washington (completion scheduled for 2023); Biotics Research Corporation USD 9 million worth 88,000-square-foot warehouse, laboratory, and office facility in Rosenberg, Texas (completion scheduled for 2023).
- Furthermore, Saudi Arabia is working on a lot of commercial projects, which will likely lead to more commercial buildinings in the country.The USD 500 billion futuristic mega-city "Neom" project, the Red Sea Project - Phase 1, which is expected to be completed by 2025 and has 14 luxury and hyper-luxury hotels with 3,000 rooms spread across five islands and two inland resorts, Qiddiya Entertainment City, Amaala - the uber-luxury wellness tourism destination, and Jean Nouvel's Sharaan resort in Al-Ula.
- India is anticipated to remain the fastest-growing G20 economy. The Indian government announced a target of USD 376.5 billion in infrastructure investment over three years (2023-2025), including USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects.
- All the above-mentioned factors are expected to propel the demand for steel rebar during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is anticipated to dominate the global market share. With growing investments in residential and commercial construction in the countries, such as India, China, the Philippines, Vietnam, and Indonesia, the market for steel rebars is expected to grow in the coming years.
- China's massive construction sector has generated significant demand for the use of steel rebars. Moreover, China is a huge contributor, as it has been one of the leading investors in infrastructure worldwide over the past few years. For instance, according to the National Bureau of Statistics (NBS) of China, in 2022, the output value of construction works in China amounted to 27.63 trillion yuan (USD 4108.581 billion), an increase of 6.6% compared with 2021.
- Moreover, the residential sector in India is on an increasing trend, with government support and initiatives further boosting the demand. According to the India Brand Equity Foundation (IBEF), the Ministry of Housing and Urban Development (MoHUA) allocated USD 9.85 billion in the 2022-2023 budget to construct houses and create funds to complete the halted projects.
- Furthermore, Indonesia expects to begin construction in the second quarter on apartments worth USD 2.7 billion for thousands of civil servants due to move to its new capital city on Borneo island. Moreover, tndonesian government intends to finance it for 80% through foreign investments. Therefore, this is expected to create an upside demand for the consumption of steel rebars from the contry's residential construction.
- Indonesia plans to develop a USD 1 billion worth 900 MW hydropower project in Kayan River in the North Kalimantan (Kaltara) province. The project stands at the EPC stage, with a startup date planned for 2022. The project is expected to be commissioned after the completion of the construction in 2025.
- The Japanese construction industry is expected to be booming as the country will host the World Expo in 2025 in Osaka, Japan. Furthermore, the ESR Cayman, OS Cosmosquare Data Centre, Osaka project, valued at USD 2,000 million, was Japan's largest building project, on which construction started in Q4 2022. The ESR Cayman, OS Cosmosquare Data Centre, Osaka project was announced in Q2 2021 in Osaka (City), Japan, with a completion date of Q1 2026. The second-largest project, the MLIT Japan, Shitara Dam Development, Aichi, with a project value of USD 570 million, began development in Q4 2022. The MLIT Japan, Shitara Dam Development, Aichi project is located in Japan and was announced in Q3 2022, with a completion date of Q4 2034.
- Thus, rising demand from various countries is expected to drive the market studied in the region during the forecast period.
Steel Rebar Industry Overview
The Steel Rebar market is partially fragmented in nature. The major players in this market (not in a particular order) include ArcelorMittal, Gerdau S/A, Nucor Corporation, Mechel, and SAIL, among others.
Steel Rebar Market Leaders
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ArcelorMittal
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Gerdau S/A
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Nucor Corporation
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Mechel
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SAIL
*Disclaimer: Major Players sorted in no particular order
Steel Rebar Market News
- February 2022: Nucor Corporation announced that it 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 that can produce more than two million tons of finished steel and steel products annually.
Steel Rebar Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Rapidly Growing Construction Industry in Asia-Pacific Region
- 4.1.2 Increasing Commercial Construction
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Availability of Substitutes for Steel Rebar
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Type
- 5.1.1 Deformed
- 5.1.2 Mild
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5.2 End-user Industry
- 5.2.1 Residential
- 5.2.2 Non-Residential
- 5.2.2.1 Commercial
- 5.2.2.2 Infrastructure
- 5.2.2.3 Institutional
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ArcelorMittal
- 6.4.2 Celsa Steel (UK) Ltd
- 6.4.3 Contractors Materials Company (CMC)
- 6.4.4 Daido Steel Co., Ltd.
- 6.4.5 Essar
- 6.4.6 Gerdau S/A
- 6.4.7 HYUNDAI STEEL
- 6.4.8 JFE Steel Corporation
- 6.4.9 Jiangsu Shagang Group
- 6.4.10 KOBE STEEL, LTD.
- 6.4.11 Mechel
- 6.4.12 NIPPON STEEL CORPORATION
- 6.4.13 Nucor Corporation
- 6.4.14 SAIL
- 6.4.15 Sohar Steel Group
- 6.4.16 Tata Steel
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand Due to Rising Infrastructural Activities in Developing Countries
- 7.2 Other Opportunities
Steel Rebar Industry Segmentation
A steel rebar is a steel bar or mesh of steel wires used in concrete to provide tensile strength. Because of its physical qualities, steel rebar is utilized in the construction of highways, bridges, dams, and dwellings. It provides a solid foundation for the structure being built or constructed, as well as strengthens and assists the concrete under tension. Concrete has high compressive strength but low tensile strength. The market is segmented based on 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 offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (Tons) for all the above segments.
| Type | Deformed | |
| Mild | ||
| End-user Industry | Residential | |
| Non-Residential | Commercial | |
| Infrastructure | ||
| Institutional | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Steel Rebar Market Research FAQs
How big is the Steel Rebar Market?
The Steel Rebar Market size is expected to reach 136.89 million tons in 2024 and grow at a CAGR of 5.74% to reach 180.95 million tons by 2029.
What is the current Steel Rebar Market size?
In 2024, the Steel Rebar Market size is expected to reach 136.89 million tons.
Who are the key players in Steel Rebar Market?
ArcelorMittal, Gerdau S/A, Nucor Corporation, Mechel and SAIL are the major companies operating in the Steel Rebar Market.
Which is the fastest growing region in Steel Rebar Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Steel Rebar Market?
In 2024, the Asia Pacific accounts for the largest market share in Steel Rebar Market.
What years does this Steel Rebar Market cover, and what was the market size in 2023?
In 2023, the Steel Rebar Market size was estimated at 129.46 million tons. The report covers the Steel Rebar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Steel Rebar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the potential future challenges for the Steel Rebar Market?
The potential future challenges for the Steel Rebar Market are a) Fluctuations in Steel Prices b) The availability of cheap substitutes for steel rebar c) Stricter Environmental Regulations and Supply Chain Disruptions
Steel Rebar Industry Report
The global steel rebar market is witnessing significant growth, driven by increasing demand from infrastructure, housing, and industrial sectors. Segmented by type, coating, process, bar size, and end-use, with infrastructure projects as a key driver, this growth is fueled by rapid urbanization and government investments in emerging economies. The market offers a variety of products, including deformed and mild steel rebar, with coatings like plain carbon steel, galvanized steel, and epoxy-coated steel rebar to meet diverse needs. Technological advancements are opening new opportunities, leading to the development of high-strength, corrosion-resistant, and earthquake-resistant steel rebar. The Asia Pacific region, led by China and India, dominates due to significant construction and infrastructure investments. Despite challenges such as industry vulnerabilities and excess production capacity, the market is poised for robust growth, supported by advancements in production processes like electric arc furnaces and a focus on high-strength deformed steel rebar. Mordor Intelligence™ Industry Reports highlight the market's share, size, and growth rate, offering a comprehensive forecast and historical overview. For detailed insights, a free report PDF download is available, providing a deep dive into the steel rebar market's evolving landscape.
