Pune, India -- (SBWire) -- 03/08/2018 --The Global Steel Rebar Market accounted for USD 120.8 billion in 2016 and is projected to grow at a CAGR of 5.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Steel rebar, commonly known as reinforcing steel or reinforcement steel, is widely used in the construction industry, mainly for the concrete reinforcement. Based on finishing type, steel rebar can be epoxy coated, black and fabricated. Epoxy coated rebar, also known as green rebar is used in making bridges, parking structures, pavement, and their repair work. Epoxy rebar is widely used as compared to the conventional reinforcing bars in order to strengthen the concrete and to protect it against corrosion. Black rebar is expected to grow at the highest CAGR over the forecast period owing to cost effectiveness.
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Major Market Drivers:
- Increasing investment in infrastructure
- Growing urban population leading to a boom in residential construction
- Declining steel price
- Requirement for highly ductile reinforcement bars
Market Restraint:
- High cost of the fabrication used in casting rebar concrete
- Volatility in the raw material prices
Market Segmentation: Global Steel Rebar Market
The steel rebar market is segmented on the basis of product type into deformed and mild. Deformed steel rebar is expected to grow at the highest CAGR over the forecast period.
On the basis of process, the market is segmented into basic oxygen steelmaking, and electric arc furnace. Basic oxygen steelmaking is expected to grow at the highest CAGR over the forecast period.
On the basis of finishing type, the market is segmented into epoxy coated, black, and fabricated. Black rebar is expected to grow at the highest CAGR over the forecast period.
On the basis of end users, the market is segmented into infrastructure, housing, industrial, construction, oil & gas industry.
On the basis of geography, the steel rebar market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacific is expected to dominate the market.
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Competitive Landscape: Global Steel Rebar Market
The global steel rebar market is highly consolidated with the presence of a limited number of players. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Steel Rebar Market
Some of the major players in the steel rebar market include ArcelorMittal, Gerdau SA, Nippon Steel & Sumitomo Metal Corporation, SAIL (Steel Authority of India Limited), Tata Steel, Essar Steel, Mechel OAO, Evraz PLC, Commercial Metals Company (CMC), Jindal Steel & Power Ltd., Steel Dynamics, SteelAsia Manufacturing Corporation, Outokumpu OYJ, Acerinox, Hyundai Steel, Daido Steel, Kobe Steel, Sohar Steel LLC, Celsa Steel UK, Jiangsu Shagang Group, NJR Steel, Conco, Posco SS Vina, Byer Steel Corporation and many more.
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Steel Rebar Market Growing CAGR of 5.2% by 2024 Forecasting with Industry Analysis of ArcelorMittal, Gerdau SA, Nippon Steel & Sumitomo Metal Corp., SAIL & More Globally
Steel Rebar Market, By Product Type (Deformed, Mild); By Process (Basic Oxygen Steelmaking, Electric Arc Furnace); By Finishing Type (Epoxy Coated, Black, Fabricated); By End Users (Infrastructure, Housing, Industrial, construction, Oil & Gas Industry); By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa)