Steel Rebar Market Analysis

Steel Rebar Market Analysis

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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.