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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ArcelorMittal (Luxembourg) and Gerdau S.A. (Brazil) are the Key Players in the Steel Rebar Market

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, growing at a CAGR of 4.4% from 2020 to 2025. Increasing building & construction activities, especially in China, Japan, and India, the recovering construction sector in Europe, and rising non-residential construction activities in North America coupled with a shift in trend towards the use of enhanced grades of steel rebar is expected to drive the growth of the steel rebar market during the forecast period.

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.

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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), Nucor Corporation (U.S.), Sohar Steel LLC (Oman), Celsa Steel UK (UK), 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.) hold a potential share of the global steel rebar market.ArcelorMittal (Luxembourg) is the leading player in the steel rebar market, which has adopted organic & inorganic strategies to sustain its market position.

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

Gerdau S.A. (Brazil) is another major company in the steel rebar industry. It has adopted organic and inorganic strategies to sustain its position in the steel rebar market.
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.
In November 2018, Gerdau sold its assets, which included the sale of four rebar units and 33 rebar fabrication units in the United States to Commercial Metals Company (CMC) for USD 600 million. This divestment is in line with the company’s strategy of continued transformation and allows it an opportunity to increase its focus on the SBQ, structural, and merchant bar markets.

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What are the future revenue pockets in the steel rebar market?

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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The deformed steel rebar segment is projected to lead the market during the forecast period

The deformed steel bar segment is the largest and fastest-growing segment by type in the steel rebar market. Deformed bar, formed from carbon steel and provided with ridges for better mechanical anchoring in reinforced concrete, is used in applications such as reinforced concrete slabs, cages, columns, prefabricated beams, and precast products. This deformation of the bar helps in increasing the bond between materials and minimizes slippage in concrete, which is fueling the rapid growth of the deformed bar segment.

Infrastructure segment is projected to be the largest and fastest-growing segment of the steel rebar market by 2025

The infrastructure segment is estimated to have accounted for a major share of the steel rebar market in 2019, followed by the housing, and industrial segments. The use of steel rebar increases the tensile strength of surrounding concrete structures in highways, bridges, and pillar structures. Increasing project counts of highway, bridges, and structural engineering are fueling the growth of the steel rebar market in the infrastructure segment.

Modernization and maintenance of infrastructure projects have led to the increasing demand for steel rebar. Increasing infrastructure projects across the globe, especially in the Asia Pacific, is another major factor driving the growth of the steel rebar market during the forecast period.

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.

Don’t miss out on business opportunities in Steel Rebar Market . Speak to our analyst and gain crucial industry insights that will help your business grow.

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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Steel Rebar Market 2021- An Emerging Market with Attractive Growth Opportunities

Steel rebar or reinforcement bars are used to strengthen the ability of concrete to resist tension in construction. The steel rebar market is expected to reach USD 154.08 billion by 2021, at a CAGR of 5.0% from 2016 to 2021. Growth in this market is mainly attributed to the increasing demand for steel rebar for the infrastructure, housing, and industrial segments across the globe.

On the basis of end user, the steel rebar market has been classified into infrastructure, housing, and industrial segments. The infrastructure segment of the steel rebar market includes highways, dams, bridges, and roads, among others. The housing segment includes real estate, hospitals, schools, and petrol pumps among others, while the industrial segment consists of projects for energy & power, oil & gas, and telecommunications. In terms of value, the infrastructure segment is expected to be the fastest-growing segment in this market during forecast period. This growth is mainly attributed to the significant use of steel rebar in applications such as bridges, roads, dams, and highways, among others.

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On the basis of process, the steel rebar market has been classified into basic oxygen steelmaking, and electric arc furnace. The basic oxygen steelmaking process is the fastest-growing segment in this market, which is used across different regions, and is used in more than 70% of the global crude steel production.

On the basis of type, the steel rebar market has been segmented into deformed, and mild steel. The market for deformed is the fastest-growing, owing to the deformation property on the bar surface which helps in increasing the bond between materials and minimizes slippage in concrete. Mild steel bars have a plain surface and round sections of diameter from six to 50 mm. The mild steel rebar is commonly used as a tensioning device in reinforced masonry structures and reinforced concrete that hold the concrete in compression.

The Asia-Pacific steel rebar market is expected to grow at the highest CAGR between 2016 and 2021. The Asia-Pacific steel rebar market includes countries such as China, Japan, India, and South Korea. The market in this region is witnessing increased consumption of steel rebar in the construction industry. China is estimated to be the major producer of steel rebar in 2016. Rapidly growing household incomes in the Asia-Pacific, along with the growing middle class population is expected to fuel the growth of various end-use industries utilizing steel rebar in the Asia-Pacific region.  

The steel rebar market is highly fragmented and competitive and has a large number of prominent players. Key manufacturers in the steel rebar market are mainly located in the Asia-Pacific and Europe with some presence in North America, and the Middle East & Africa. The U.S. is the largest market in the North American region. Increasing investments on the infrastructure and housing segments is driving the steel rebar market in the region.