Steel Rebar Market Analysis:
Steel rebar or reinforcing steel is a bar or steel wire mesh, which is used in reinforced concrete and masonry systems as a tensioning system to stabilize and assist the tensioned concrete due to its low tensile strength. Infrastructure developmental and construction of modern manufacturing plants in emerging markets boost the need for modern state-of-the-art technology. Within the steel rebar industry, deformed steel bar is the largest segment by type. Deformed steel rebar exhibits characteristics such as enhanced malleability & ductility, prolonged durability, high yield strength, and superior resistance to corrosion & earthquake as compared to mild steel products. Moreover, it is economical, and thus finds its application in manufacturing, business, residential, and bridge systems. Furthermore, the popularity of deformed steel rebar is increasing due to surge in need for a higher strength steel in building structures.
Key drivers of global steel rebar market
Increase in demand for steel rebar from construction industry is a key factor contributing toward the growth of the global steel rebar market. Expansion of construction industry is projected to remain a core driver of the market. Infrastructural development, especially in the emerging economies such as China, Brazil, and India and the diversification project in the Middle East countries boost the demand for steel rebar. Furthermore, increase in urbanization and economic growth along with government initiatives such as “Housing for All By 2022” in India are aiding growth of the sector. This leads to an increase in construction activities across the country, which significantly supports the market for steel rebar.
Market Scenario: Opportunities and Challenges
The demand for steel rebar is projected to generate significant growth opportunities in the future. The World Smart Cities Organization (WSCO), which plays an important role in the development of cities across the globe, has encouraged many national governments to increase investment on infrastructure projects. This has contributed to the development of smart cities, which is anticipated to promote the growth of the residential sector. Furthermore, considerable rise in capital for infrastructural construction programs such as bridges, hospitals, and public services is expected to accelerate the pace of socio-economic growth. Furthermore, the oil & gas sector serves as the most lucrative market for steel rebar, as the industry requires non-corrosive steel rebar conduits. This is expected to result in increase in refining production across the globe, and these refineries will likely augment the demand for steel rebar, thereby driving the growth of the global market. However, the depletion of iron ore deposits and price volatility associated with raw materials & finished product may cause supply chain instability, which hampers the market growth.
COVID-19 scenario analysis
The global steel rebar market is expecting slowdown, owing to the outbreak of the COVID-19 pandemic. The spread of coronavirus has taken global trade, transport, and domestic life to a standstill. This will have a negative impact on the Chinese steel market, which is home to 60% of the world’s steel rebar production. Furthermore, temporary slowdown in local demand is expected to have short-term effect on the market. However, change in patterns toward the use of higher rebar grades and the threat of global steel overcapacity resulting primarily from China are among the factors expected to influence the steel rebar market in the near future.
Key benefits of the report
- This study presents the analytical depiction of the global steel rebar industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global steel rebar market share.
- The current market is quantitatively analyzed to highlight the global steel rebar market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global steel rebar market research report:
- Which are the leading market players active in the global steel rebar market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Steel Rebar Market Report Highlights
By End User
Key Market Players
Nippon Steel & Sumitomo Metal Corporation (Japan), Gerdau S.A (Brazil), Essar Steel (India), Sohar Steel LLC (Oman), Steel Authority of India Limited (India), Nucor Corporation (U.S.), ArcelorMittal (Luxembourg), Mechel PAO (Russia), Posco SS Vina, Co. Ltd (Vietnam), Tata Steel Ltd. (India)