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2019 – 2024 | Steel Rebar Market Analysis by Industry Trends & Growth Overview by Regional Players

Author : Rahul Varpe | Published Date : 2019-10-02 

The Steel Rebar market study drafted by Global Market Insights delivers a concise outline regarding the potential factors likely to drive the revenue growth of this industry. The report delivers valuable insights on market revenue, SWOT Analysis, market share, profit estimation and regional landscape of this business vertical. Moreover, the report focuses on significant growth factors and obstacles accepted by market leaders in the Steel Rebar market.

Residential building application witnessed demand over 95 million tons in 2016. Surge in public-private partnership projects will provide lucrative business opportunities for manufactures. Increasing government spending on construction of smart cities will drive steel rebar market growth. Emerging economies such as India, China, Japan and South Korea expected to invest in smart city projects over the forecast period. For instance, Indian government is expected to invest USD 15 billion for development of 100 cities in coming years.

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Rapid construction of highways, bridges & buildings, and public utilities owing to shifting economic and demographic trends will drive steel rebar market Increasing smart city projects financed by public-private partnership will propel product application scope. As per industry estimates, global infrastructural spending was over USD 4.5 trillion in 2016.

Deformed steel rebar dominated the overall industry and expected to witness growth over 4.5% up to 2024. Key properties such as minimum slippage and improved mechanical anchoring supporting product penetration. Increasing demand for reinforced concrete cages, columns, slabs, prefabricated beams, will foster industry growth. Strong application outlook to refurbish old structures will propel steel rebar market.

Steel Rebar Market by Application:

  1. Residential buildings
  2. Public infrastructure
  3. Industrial

Steel Rebar Market by Product:

  1. Deformed
  2. Mild

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Asia Pacific Steel Rebar Market will generate revenue over USD 110 billion by 2024. The region already accounts for 60% of the world population and increasing necessity to accommodate rising inhabitants will enhance regional construction spending. In addition, regional technology services sector expansion will also propel telecommunications infrastructure investments.

Rising government budgets on renovation of structurally deficient buildings in the emerging economies has positively influenced steel rebar market share. For instance, China 13th Five-Year Plan (2016-20), for green building construction and renovation by 2020 will enhance product demand. Rapid urbanization and industrialization likely to augment construction of new manufacturing facilities and upgradation of existing structure.

Global steel rebar market share is competitive in nature. Key industry participants are

  1. Acerinox
  2. ArcelorMittal
  3. Gerdau
  4. SAIL
  5. Nippon & Sumitomo Metal Corporation
  6. Tata
  7. Hyundai
  8. Essar
  9. Jindal
  10. Daido
  11. Kobe
  12. NJR
  13. Byer

Presence of key manufactures such as Tata Steel, SAIL, Essar Steel and Jindal Steel & Power Ltd. will also play a key role in promoting regional steel rebar market growth. Manufacturers are anticipated to upgrade existing production capacity and adopt new solution through extensive R&D to attain competitive advantage.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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