Steel Rebar Market Size - By Product (Deformed and Mild), By Process (Basic Oxygen Steelmaking and Electric Arc Furnace), By Application (Residential Buildings, Public Infrastructure, and Industrial), By Regional Outlook & Forecast, 2024 – 2032

Steel Rebar Market Size

Steel Rebar Market was valued at USD 147.1 billion in 2023 and is estimated to grow at a CAGR of 4.9% during 2024 to 2032. The increasing investment in infrastructure development projects and construction activities especially in developing nations, which is driving up demand for steel rebar. Steel rebar is vital for maintaining the strength and longevity of roads, bridges, buildings, and dams. It is also necessary for reinforcing concrete constructions. In addition to this, the growth is being driven by rising urbanization and the increased demand for reliable infrastructure.
 

The government activities and investments fuel this demand, with substantial infrastructure projects going around the world. These projects, which include large-scale infrastructure such as bridges, highways, and dams, rely largely on steel rebar to improve structural integrity and safety. As a result, the steel rebar market is expanding rapidly, driven by major construction and infrastructure initiatives. For example, The United States government estimates that 45,000 bridges and major roadways need to be repaired nationwide. The Act requires that USD 110.00 billion be set aside for infrastructure reconstruction.
 

The pricing of raw materials, especially iron ore and scrap steel, is highly volatile. These variations in prices have a direct influence on steel rebar manufacturers' production costs and profit margins, causing financial instability and affecting their capacity to maintain consistent pricing. As raw material costs grow, producers incur increasing expenses, which might reduce earnings if they are unable to pass these costs on to customers.
 

Steel Rebar Market Trends

Steel rebars are becoming increasingly popular in non-residential applications such as the oil and gas industry, infrastructure projects, commercial development, and corporate structures as cities grow. These industries rely on steel rebar for its strength and durability, which are critical for building strong and long-lasting structures. As cities expand and industrial activity expand, the need for steel rebar in non-residential applications rises, propelling market growth.
 

Steel Rebar Market Analysis

Based on product, the deformed segment was worth about USD 110.8 billion in 2023 and is expected to grow at a CAGR of 5% through 2032. This is due to its curved surface, which improves material adhesion and lowers slippage in concrete. Furthermore, increased demand for deformed steel reinforcement drives market growth. Rebar constructed of deformed steel is used in construction as a prestressed reinforcing bar to reinforce cement beams and columns while reducing slippage.
 

Based on application, the public infrastructure dominated the market with 61.6% of the revenue share in 2023 and is expected to reach USD 138.7 billion by 2032. Governments around the world are making significant investments in large-scale infrastructure projects such as highways, bridges, railways, airports, and public transportation networks. These projects require large amounts of steel rebar to ensure structural integrity and endurance, resulting in significant market growth.
 

Asia Pacific steel rebar market size crossed USD 96.1 billion in 2023 and is projected to reach USD 148.4 billion by 2032. Because of the growing economies and increasing construction activity in countries such as China and India. The expansion of infrastructure and housing expansions by the construction industry is driving the growth market share. The need for steel rebar in this region has increased as a result of numerous infrastructure projects by the public and commercial sectors.
 

China dominated the Asia Pacific steel rebar market with 37% of revenue share in 2023 due to China's vast and rapidly growing construction sector. Urbanization, industrialization, and proactive government initiatives are the main drivers of China's large and rapidly expanding construction industry. The Chinese government makes significant investments in large-scale infrastructure projects, including highways, bridges, trains, and urban transit systems, all of which require significant amounts of steel rebar.
 

The U.S. steel rebar market was valued at 11.7 billion in 2023. The need for steel rebar has increased as a result of large investments made in the construction and maintenance of infrastructure, such as roads, bridges, and public transportation networks. Initiatives from the federal and state governments, such the Infrastructure Investment and Jobs Act, have significantly raised demand for building supplies, particularly steel rebar in U.S. For instance, The Infrastructure Investment Jobs Act, passed by the US government in 2021, aims to improve public infrastructure and stimulate the economy by funding a variety of projects, including ports, bridges, trains, highways, and communication systems.
 

Steel Rebar Market Share

The Steel Rebar industry is highly fragmented in nature due to the presence of local and global players. In 2023, the market players, such as ArcelorMittal, Nippon Steel Corporation, Tata Steel, Nucor Corporation and Gerdau SA, collectively held around 15%-20% market share. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions and facility expansions & collaborations to diversify the product portfolios, expand the customer base, and strengthen its market position.
 

Steel Rebar Market Companies

Major players operating in the Steel Rebar industry are:

• Acerinox S.A
• ArcelorMittal
• Commercial Metals Company
• Daido Steel Co Ltd
• Gerdau S/A
• HBIS Group
• Jiangsu Shagang Group
• JSW
• NIPPON STEEL CORPORATION
• NLMK
• Nucor
• POSCO HOLDINGS INC.
• SAIL
• Steel Dynamics, Inc
• Tata Steel
   

Steel Rebar Market Industry News

• In February 2022, Nucor Corporation announced the completion of its acquisition of a majority ownership position in California Steel Industries, Inc. (CSI), transforming CSI into a joint venture business held 51% by Nucor and 49% by JFE Steel. CSI is a flat-rolled steel converter that can generate over two million tons of finished steel and steel products per year.
   
• In February 2022. FABco, LLC, a prominent supplier of concrete construction materials and steel rebars, has purchased Volunteer Rebar. This acquisition is expected to help the company accelerate its expansion and provide services to customers in Tennessee, United States.
   

This steel rebar market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) (Million Tones) from 2021 to 2032, for the following segments:

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Market, By Product

• Deformed
• Mild

Market, By Process

• Basic Oxygen Steelmaking
• Electric Arc Furnace 

Market, By Application

• Residential Buildings
• Public Infrastructure
• Industrial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA