What Does The Current Steel Rebar Market Landscape Look Like and What Does The Future Hold?
The steel rebar market size has seen robust increases in recent years, growing from $257.3 billion in 2024 to $271.5 billion in 2025, representing a compound annual growth rate (CAGR) of 5.5%. Factors such as infrastructure development, population growth and urbanization, government investments in construction, and rapidly evolving industrialization have bolstered this growth.
According to forecasts, the steel rebar market is expected to surge in the coming years, estimated to reach $353.53 billion by 2029, boasting a CAGR of 6.8%. The driving forces for this positive forecast include renewable energy infrastructure projects, emergent smart cities and sustainable construction practices, rising demand for high-strength rebar, recovery from the COVID-19 pandemic, and expansion of transportation infrastructure.
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What Are The Growth Drivers In The Steel Rebar Market?
Global building and construction activities are significant contributors to the growth of the steel rebar market. The steel rebars are used to strengthen and support concrete structures, making it an essential material in construction activities. The increase of construction industry size, particularly in the US, by 5.21% from $1.916 trillion in Q1 2021 to $2.016 trillion in Q1 2022, underscores the demand for steel rebar.
Which Segments Are Major Players In The Steel Rebar Market?
The steel rebar market report covers the following key segments:
1) By Product: Deformed, Mild
2) By Process: Basic Oxygen Steelmaking, Electric Arc Furnace
3) By Application: Residential Buildings, Public Infrastructure, Industrial
4) By End-Use Industry: Construction And Infrastructure, Manufacturing, Oil, And Gas
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Who Are The Major Operational Companies In The Steel Rebar Market?
Major companies within the steel rebar market include ArcelorMittal S.A., CELSA Steel UK Ltd., Commercial Metal Company, Daido Steel Co. Ltd., Gerdau S.A., Hyundai Steel Co. Ltd., Nippon Steel Corporation, Nucor Corporation, Steel Authority of India Limited, Jiangsu Shagang Group Company Limited, Steel Dynamics Inc., Tata Steel Limited, and Jindal Steel & Power Ltd., among others.
What Trends Are Transforming The Steel Rebar Market?
Product innovation marks a leading trend in the steel rebar market. Notable companies are producing new steel bars with improved mechanical and metallurgical properties for expanded applications. One such example is GPH Ispat Limited’s launch of GPH Quantum B600D-R steel rebar in March 2023, a higher-grade steel rebar that reduces construction costs.
Which Region Dominates The Steel Rebar Market?
In 2024, the Asia-Pacific region held the largest share in the steel rebar market, with it predicted to be the fastest-growing region during the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Steel Rebar Market Report 2025 Offer?
Steel rebar is a metal bar that improves the tensile strength of the concrete. It fortifies concrete structures against tensile, bending, torsion, and shearing loads. The Steel Rebar Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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