Steel Rebar Market Size Report and Forecast to 2030

Coverage: Steel Rebar Market covers analysis By Type (Mild Steel Bars, Deformed Steel Bars, and Others), Coating Type (Plain, Galvanized, and Epoxy Coated), and End-Use (Residential, Commercial, Industrial, and Infrastructure)

Publication Month : Apr 2024

  • Report Code : TIPRE00003935
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The steel rebar market size was valued at US$ 221.5 billion in 2022 and is expected to reach US$ 315.8 billion by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.

Market Insights and Analyst View:

Steel rebar is a vital construction material extensively used to reinforce concrete structures. Rebar comprises high-strength reinforcement materials, such as carbon steel, glass fiber, or basalt fiber, that enhance concrete's tensile strength, countering its weakness in tension. This reinforcement prevents structural failure and ensures the durability of buildings, bridges, and various infrastructures. These rebars are typically coated with material to protect from corrosion. The most common type of coating is zinc coating. Zinc coatings help protect the steel from rusting, which can cause the rebar to lose its strength and bond with the concrete. The global urbanization and population growth surge has led to an increased need for residential, commercial, and infrastructure development. As cities expand and modernize, there is a heightened demand for durable and structurally sound materials, making these rebars indispensable in reinforcing concrete structures. In addition, infrastructure projects, including roads, bridges, and transportation systems, contribute significantly to the rising demand for these rebars. Governments worldwide are investing in large-scale infrastructure development initiatives to stimulate economic growth and enhance connectivity. These projects often involve extensive concrete construction, driving the need for reinforced structures to withstand the stresses imposed by heavy traffic and environmental conditions. All these factors are driving the steel rebar market growth.

Growth Drivers and Challenges:

The steel rebar market experiences a significant boost from the growing demand in the residential construction sector, a trend influenced by various factors. As urbanization continues globally, there is a parallel increase in the construction of residential buildings to accommodate the expanding population. This surge in housing projects directly fuels the demand for these rebars, which play a pivotal role in reinforcing the structural elements of residential constructions, ensuring their stability and longevity. In addition, the desire for more robust and resilient residential structures contributes to the preference for these rebars. Homeowners and builders alike recognize the importance of using materials that enhance the structural integrity of buildings, especially in regions prone to natural disasters or harsh environmental conditions. These rebars provide the strength to withstand various external pressures, making them a preferred choice in the residential construction sector. Additionally, the trend towards multi-story and high-rise residential buildings further amplifies the demand for these rebars. As developers aim to maximize available space in urban areas, they often opt for vertically oriented constructions. Steel rebar's ability to support the increased loads associated with taller structures makes it an indispensable component in the construction of these modern residential complexes. Furthermore, the residential construction sector is influenced by architectural trends that prioritize innovative and aesthetically pleasing design options, contributing to the growing popularity of steel rebar in the residential construction sector.

However, price fluctuations can have a cascading effect on the construction industry, which is a major consumer of these rebars. When raw material prices are high, construction projects may face increased expenses, potentially resulting in delays or adjustments in projects may face increased expenses, potentially resulting in delays or adjustments in project budgets. This dynamic, in turn, can impact the demand for these rebars as construction companies may seek alternative materials or adjust project timelines based on cost considerations. Moreover, the steel rebar market is interconnected with global economic conditions and trade dynamics. Fluctuations in currency exchange rates, trade tariffs, and geopolitical events can contribute to volatility in raw material prices, influencing the overall cost structure of the steel rebar market. This sensitivity to external factors highlights the market's susceptibility to broader economic trends and uncertainties.

Strategic Insights

Report Segmentation and Scope:

The "Global Steel Rebar Market Analysis to 2030" is a specialized and in-depth study with a major focus on market trends and growth opportunities across the globe. The report aims to provide an overview of the market with detailed market segmentation by type, coating type, and end-use. The market has witnessed high growth in the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of steel rebar globally. In addition, the report provides a qualitative assessment of various factors affecting the Steel Rebar Market performance globally. The report also includes a comprehensive analysis of the leading players in the market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the market, which helps understand the entire supply chain and various factors affecting the global steel rebar market growth. 

Segmental Analysis:

The global steel rebar market is segmented on the basis of type, coating type, end-use, and geography. Based on type, the market is bifurcated into mild steel bars, deformed steel bars, and others. On the basis of the coating type, the market is divided into plain, galvanized, and epoxy-coated. In terms of the end-use, the steel rebar market is segmented into residential, commercial, infrastructure, and industrial. The deformed steel bar segment is expected to register significant growth from 2022 to 2030. The unique design of deformed rebar, characterized by ribbing or patterns on its surface, enhances its bond with concrete. This improved bond provides superior structural integrity, making deformed steel bars an essential choice in construction projects where reinforced concrete strength is paramount. In addition, the deformation on the rebar's surface significantly enhances its ability to withstand dynamic loads, such as those encountered during seismic events. As regions prone to earthquakes continues to prioritize resilient construction, the demand for deformed steel bar as a key component in earthquake-resistant structures is on the rise. Moreover, the construction industry's evolution towards more complex and innovative designs contributes to the growing preference for deformed bars.

Regional Analysis:

Based on geography, the steel rebar market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. The global steel rebar market was dominated by Asia Pacific in 2022. The rapid pace of urbanization and industrialization in countries like China and India has led to an unprecedented demand for construction materials, particularly steel rebar. As these nations undergo extensive infrastructure development and urban expansion, the need for reinforced concrete in various construction projects has significantly propelled the demand for these rebars in the region. In addition, the construction in the Asia Pacific region, fueled by population growth and economic development, has contributed to the substantial market share. Rising populations in urban areas drive the construction of residential buildings, commercial complexes, and infrastructure projects, all of which rely heavily on these rebars for structural reinforcement; thus, as the region increasing construction activities with a growing population is expected to boost the market growth in Asia Pacific from 2022 to 2030.

Further, the ongoing infrastructure revitalization efforts and increased investments in construction projects significantly increased North America's demand for these rebars. Governments at various levels focus on upgrading and expanding transportation networks, renovating aging structures, and constructing new buildings, driving the need for reinforced concrete and, consequently, steel rebars. The resilience and strength of these rebars make them essential in regions prone to extreme weather conditions. North America faces challenges such as hurricanes, earthquakes, and heavy snowfall, requiring structures to meet stringent safety standards. The use of these rebars in construction ensures the durability and structural integrity necessary to withstand these environmental pressures. These factors are driving the steel rebar market growth in North America.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the steel rebar market are listed below:

  • In October 2021, Tata Tiscon launched a new and superior rebar named Tata Tiscon 550SD. The launch of Tata Tiscon 550SD, a new generation steel rebar, is part of the company's portfolio-building plan focussed on helping the end-users to make informed choices.
  • In March 2023, GPH Ispat Limited, a steel manufacturer in Bangladesh, launched its high-grade steel rebar products GPH Quantum B600 C-R & B600 D-R.

COVID-19 Impact:

The COVID-19 pandemic adversely affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including the chemical & materials industry. The shutdown of manufacturing units of steel rebar companies disturbed global supply chains, manufacturing activities, and delivery schedules. Various companies reported delays in product deliveries and a slump in their product sales in 2020. Most of the construction activities were shut down during the pandemic, decreasing the consumption of these rebars. In addition, the COVID-19 pandemic has caused fluctuations in these rebars prices. However, various industries revived their operations after supply constraints were resolved, which led to a revival of the market. Moreover, the rising demand for these rebars from the industrial and residential sectors is substantially promoting the steel rebar market growth.

Competitive Landscape and Key Companies:

Gruppo Pittini S.p.A.; ArcelorMittal SA; JSW Steel Limited; Tata Steel Limited; Daido Steel Co., Ltd; EVRAZ plc; Gerdau S/A; Steel Authority of India Limited (SAIL); Nucor Corporation; and Barna Steel SA are among the players operating in the global steel rebar market. The market players focus on providing high-quality products to fulfill customer demand.


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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

  • Tata Steel Ltd.
  • Acerinox S.A.
  • ArcelorMittal
  • CMC Steel
  • EVRAZ plc
  • Gerdau S/A
  • NIPPON STEEL CORPORATION.
  • Nucor Corporation
  • NLMK.
  • JSW Steel
  • POSCO ENGINEERING & CONSTRUCTION., LTD.
  • Rajhi Steel
  • Sunflag Iron and Steel Co. Ltd.
  • METINVEST
  • Runfei Steel.
  • Sino East Steel Enterprise Co. Ltd.
  • Tangshan Junnan Trade Co., Ltd
  • LLOYD REBAR.
  • SHREE JI STEEL CORPORATION
  • Kerschgens Werkstoffe & Mehr GmbH

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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