Published On: Wed, Jun 7th, 2017

Growing Construction Fuels Growth Of Steel Rebar Market

The growing construction industry and construction projects are fueling the growth of the steel rebar market. Moreover, modernization and maintenance of infrastructure projects has led to the growth of the infrastructure segment. Increasing investments in new infrastructure projects and maintenance of existing projects are contributing towards the steel rebar infrastructure market being the largest and fastest-growing segment.

The rapidly growing construction industry in countries such as China and India has fueled the growth of the steel rebar market in the region. This sector includes all road, highway and bridge construction, sewage system, airport, and stadium projects. The growth in this industry is expected to lead to the growth in demand for steel rebar during the forecast period.

The Asia-Pacific is the fastest growing region in the steel rebar market. Growing usage of steel rebar in infrastructure, housing, and industrial segments, growing economies and increasing domestic consumption, and increase in disposable incomes, are some of the major factors expected to drive the steel rebar market.

Asia-Pacific is estimated to have accounted for the largest share of the steel rebar market in 2016, followed by Europe and Middle East & Africa. China is one of the major producers and consumers of steel rebar in the Asia-Pacific region.

Some of the major companies involved in Steel rebar 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), EVRAZ plc (U.K.), Sohar Steel LLC (Oman), Celsa Steel U.K. (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.), Steel Asia Manufacturing Corporation (Philippines), Outokumpu Oyj (Finland), Acerinox S.A. (Spain), Hyundai Steel (South Korea), Daido Steel Co., Ltd. (Japan), and Byer Steel (U.S.).

The steel rebar market is projected to reach USD 154.08 billion by 2021, at a CAGR of 5.0% from 2016 to 2021. Increasing consumption of steel rebar in infrastructure, housing, and industrial segments is driving the steel rebar market.

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