Growth in emerging economies drives the Black Masterbatches Market

The black masterbatches market is projected to reach USD 3.0 billion by 2026, at a CAGR of 4.4 % from USD 2.4 billion in 2021. Black masterbatch is manufactured from carbon black pigment. It typically contains 30.0%–50.0% carbon black. Based on the specific plastic product, the carrier of carbon black is decided. For instance, PS products use PS as the carrier of carbon black. Black masterbatch is used in different polymers such as polypropylene (PP), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), polyurethane (PUR). Some of the important end-use industries of black masterbatch are packaging, infrastructure, automotive, electrical & electronics consumer goods, fibers, and agriculture.

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The growing industrialization in emerging economies, such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina, is expected to drive the black masterbatch market in the next five years. The high demand from the packaging, building & construction, consumer goods, automotive, and agriculture applications in these countries increase the need for black masterbatch, especially for plastics used in these applications. The implementation of government policies supporting the growth of industries, low labor costs, skilled workforce, availability of raw materials, and increasing urbanization have enabled domestic and foreign companies to establish their facilities in these countries. The growth of the manufacturing industry in Malaysia, Vietnam, Colombia, and Chile is also expected to fuel the market growth.

Automotive is the largest end-use industry of the black masterbatches market. APAC was the largest market for black masterbatches in 2020, in terms of both volume and value. Factors such as growing demand from packaging industry, rapid industrialization in growing economies like China, India & Thailand and increasing demand for plastic molds in electric vehicles will drive the black masterbatches market.

Europe is the second-largest black masterbatches market in the world. Key countries in the region include Germany, France, the UK, and Spain. As the market in Europe is mature, it is projected to grow at a lower CAGR during the next five years. Europe has always been a major black masterbatches market due to presence of developed automotive sector in the region. This market is more growing due to high demand of plastic molds in electric vehicles. Key countries such as Germany and France have shown promising demand for black masterbatches which is expected to continue in the near future.

Key players in this market are LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US). The global and regional players have sizable shares in the black masterbatch market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

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Asia Pacific is projected to be the largest market for Steel Rebar

The Asia Pacific steel rebar market is projected to grow at the highest CAGR between 2020 and 2025. Growth in this market is attributed mainly to the increasing steel rebar consumption in the construction industry coupled with large steelmaking capacities and consumption of steel rebar in countries such as China, India, Japan, and South Korea.

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Increasing building & construction activities supported by a rapidly growing population, need for new residential housing, and major infrastructure investment projects announced in countries like China is expected to create future market avenues for steel rebar industries. In addition, strong policy initiatives such as the mandatory use of domestic steel in government infrastructural projects, shutting of environmentally hazardous blast furnace capacities and increasing use of electric furnace to produce steel rebar from scrap in China and National Steel Policy introduced in India to make the country self-sufficient in terms of steel production are some of the factors expected to support the growth of the domestic steel rebar market. However, currently, the world is facing a crisis related to the outbreak of coronavirus disease by which the world trade, travel, and even the domestic activities have come to a standstill. This is having a severe impact on the Chinese steel industry, which is home to 60% of the world’s steel rebar production.

Major market players covered in the report are 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), Nucor Corporation (U.S.), Sohar Steel LLC (Oman), Celsa Steel UK (U.K.), Ansteel Group (China), Hyundai Steel (South Korea), Kobe Steel, Ltd. (Japan), Jiangsu Shagang Group Co., Ltd. (China), JFE Steel Corporation (Japan), Commercial Metals Company (U.S.), Daido Steel (Japan), Barnes Reinforcing Industries (pty) Ltd (South Africa), Jindal Steel & Power Ltd. (India), Steel Dynamics, Inc. (U.S.), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel Company (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel Group Inc. (U.S.).

The global steel rebar market size is estimated to be USD 198.7 billion in 2020 and is projected to reach USD 246.3 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. Increasing building & construction activities (especially in China, Japan, and India), recovering construction sector in Europe, a surge in non-residential construction activities in North America, and a shift in trend towards the use of enhanced grades of steel rebar is expected to drive the growth of steel rebar industry during the forecast period.

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Attractive Opportunities In Steel Rebar Market

“Steel Rebar Market by Type (Deformed & Mild), Process (Basic Oxygen Steelmaking & Electric ARC Furnace), End-Use (Housing, Infrastructure, Industrial), Region (North America, EU, APAC, MEA, South America) – Global Forecast to 2025″ The global steel rebar market size is projected to grow from USD 198.7 billion in 2020 to reach USD 246.3 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The major drivers for the market include the increasing use of higher rebar products, the development of value-added products, capacity expansion by steelmakers all around the world, increasing population, and rapid urbanization. However, the current steel rebar industry is also plagued by the recent outbreak of COVID-19 and its impact on the global economy, which is expected to deter the demand for steel rebar during the forecast period

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Recent Developments

1. ArcelorMittal in January 2020, secured a supply contract of rebar for the construction of a new liquefied natural gas (LNG) terminal, located near Kuwait City.

2. In November 2019, Gerdau S.A. agreed to buy 96.4% of Siderúrgica Latino-Americana (Silat) shares from Spanish group Hierros Añón for USD 110.8 million. Silat is located in Caucaia, a city in the northeastern Brazilian state of Ceará, and has a capacity of 600,000 tonnes per year of long rolled steel. The company mainly produces rebar and wire rod. Silat was a close competitor of Gerdau in the rebar market, and with this acquisition, the company has cemented its market position in the rebar market.

The Asia Pacific steel rebar market is projected to grow at the highest CAGR between 2020 and 2025. Growth in this market is attributed mainly to the increasing steel rebar consumption in the construction industry coupled with large steelmaking capacities and consumption of steel rebar in countries such as China, India, Japan, and South Korea.

Increasing building & construction activities supported by a rapidly growing population, need for new residential housing, and major infrastructure investment projects announced in countries like China is expected to create future market avenues for steel rebar industries. In addition, strong policy initiatives such as the mandatory use of domestic steel in government infrastructural projects, shutting of environmentally hazardous blast furnace capacities and increasing use of electric furnace to produce steel rebar from scrap in China and National Steel Policy introduced in India to make the country self-sufficient in terms of steel production are some of the factors expected to support the growth of the domestic steel rebar market. However, currently, the world is facing a crisis related to the outbreak of coronavirus disease by which the world trade, travel, and even the domestic activities have come to a standstill. This is having a severe impact on the Chinese steel industry, which is home to 60% of the world’s steel rebar production.

Major market players covered in the report are 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), Nucor Corporation (U.S.), Sohar Steel LLC (Oman), Celsa Steel UK (U.K.), Ansteel Group (China), Hyundai Steel (South Korea), Kobe Steel, Ltd. (Japan), Jiangsu Shagang Group Co., Ltd. (China), JFE Steel Corporation (Japan), Commercial Metals Company (U.S.), Daido Steel (Japan), Barnes Reinforcing Industries (pty) Ltd (South Africa), Jindal Steel & Power Ltd. (India), Steel Dynamics, Inc. (U.S.), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel Company (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel Group Inc. (U.S.).

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Steel Rebar Market Competitive Landscape Analysis And Forecast To 2021

Steel rebar are long steel products, which are used as reinforcement elements in Reinforced Cement Concrete (RCC). Steel rebars are hot rolled steel products and are used as reinforcement elements, along with concrete to effectively bear tensile, compression, and bending-in in concrete construction.

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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 UK (U.K.), Kobe Steel Ltd. (Japan), Jiangsu Shagang Group (China), NJR Steel (South Africa), Commercial Metals Company (U.S.), The Conco Companies (U.S.), Barnes Reinforcing industries (South Africa), Jindal Steel & Power Ltd. (India), Steel Dynamics (U.S.), SteelAsia Manufacturing Corporation (Philippines), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel (U.S.) are the key players in the steel rebar market.

Steel rebar, owing to its heavy consumption in the construction segment, which includes infrastructure, housing, and industrial, is being widely used in the construction industry and in structural engineering.

Some of the important strategies adopted by key companies to scale up their activities in the market are expansions, partnerships & joint ventures, acquisitions, contracts, and new product developments. These companies are also investing in R&D activities to strengthen their product portfolios and their positions in the steel rebar market.

ArcelorMittal is the world’s leading steel and mining company, and produces approximately 114 million tons of crude steel. ArcelorMittal is the successor to Mittal Steel, a business originally set up in 1976. The company was founded in 2006 through the merger of Arcelor and Mittal Steel and is headquartered in Luxembourg City, Luxembourg. ArcelorMittal manufactures and supplies quality steel products to various industries, which include construction, automotive, packaging, and household appliances. ArcelorMittal produces blooms, rebars, billets, wire rods, sections, sheet piles, rails, and drawn wires, along with seamless and welded tubular products. The company, through its long business segment, serves industries, which include construction and mechanical engineering, automotive, and energy, among others. ArcelorMittal has a presence in 60 countries and an industrial footprint in 19 countries.

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The company focuses on both, organic and inorganic growth strategies for sustainable development. For instance, in Oct 2016, ArcelorMittal Brasil S.A. and Votorantim S.A. signed a definitive agreement for long steel business, which helps the company in increasing the production capacity of its long steel business. As a part of the inorganic growth strategy, ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation have completed the acquisition of ThyssenKrupp Steel USA (U.S.) in February 2014, which helped the company in capacity expansion of hot rolling, cold rolling, coating, and finishing lines. For the growth of the steel segment, ArcelorMittal has engaged in various agreements, acquisitions, and contracts in recent years.

Gerdau SA was founded in 1901 in Porto Alegre, Brazil. The company is the largest supplier of special long steel in the world, and is among the leading producers of long steel in the Americas. Gerdau is also the largest supplier to the automotive industry worldwide. For instance, in September 2015, Gerdau supplied 16,500 tons steel including reinforcing steel bars for expansion of the Tampa International Airport. Gerdau SA has a strong footprint across the globe, and presence in countries such as Argentina, Brazil, Chile, Columbia, Dominican Republic, Guatemala, India, Mexico, North America, Peru, Uruguay, and Venezuela. The company engages in the production and supply of steel products worldwide. It has a wide product portfolio, which includes shapes, rebars, drawn products, bars, billets, slabs, blooms, wire rods, and structural shapes. Gerdau SA also offers millions of tons quality steel through recycled scrap and serves industries such as agriculture, construction, automotive, and industrial. The company engages in the inorganic growth strategy through expansions. For example, in May 2013 the company expanded its production capacity for the steel operational facility of Knox County with expansions in the West Knox County.

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