Steel Rebar - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Steel Rebar market is accounted for $182.20 billion in 2018 and is expected to reach $295.00 billion by 2027 growing at a CAGR of 5.5% during the forecast period. Some of the key factors propelling the market growth are rising in production of oil & gas and rise in the capacity of refineries across the globe. However, the corrosion tendency of ferrous materials is the restraining factor for the growth of the market.
Steel Rebar is also known as reinforcing bar is widely used in the construction industry majorly in concrete reinforcement. It serves as a tensioning device and assists to hold the concrete in a compressed state. Concrete can carry a heavy load for compression but is very weak in tension. To allow concrete to hold tensile load, steel rebar is used. Steel rebar is frequently used for concrete construction its thermal co-efficient value is close to the thermal co-efficient value of concrete. Concrete exhibits high strength when condensed, but is equally weak under tension. Steel rebar acts as the tensioning device, thus providing strength to concrete structures. It makes these structures stable under strength and tension.
By end user, oil and gas segment is expected to grow at the significant market share during the forecast period due to increase in the capacity of refineries across the globe, and these refineries will generate a demand for steel rebar for use in conduits. Steel rebar used in the oil and gas, and other manufacturing industries such as pharmaceuticals and fertilizer plants are generally epoxy coated in order to resist corrosion. The epoxy-coated steel rebar market is poised to witness growth in coming years. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to increase in construction activities across the country which is significantly supporting the steel rebar market. Additionally, Indonesia, Malaysia, and Japan are observing increased infrastructural development, which is boosting the APAC steel rebar market. Population growth in countries such as China and India is also creating growth prospects for the real estate industry in these countries, which in turn is creating opportunities for the APAC steel rebar market.
Some of the key players in Steel Rebar Market include ACERINOX S.A, Ansteel Group Corporation Limited, ArcelorMittal, Bluescope Steel Limited, Commercial Metal Company, DAIDO STEEL, Gerdau SA, HBIS Group, JFE Steel Corporation, MECHEL PAO, Nippon Steel & Sumitomo Metal Corporation, Nucor Coporation, OUTOKUMPU OYJ, SAIL, Steel Dynamics and TATA Steels
• Electric Arc Furnace
• Basic Oxygen Steelmaking
Finishing Types Covered:
• Black Rebar
• Epoxy Coated Rebar
• Fabricated Rebar
End Users Covered:
• Residential buildings
• Oil and Gas
• Construction & Infrastructure
• Structural Floor
• Road Pavements
• Floor Slab
• Drainage Structures
• Concrete Cannels
• Box Culverts
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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