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Steel Rebar Market – Global Industry Analysis and Forecast to 2024

07-11-2019 11:03 PM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights Inc.

Steel Rebar Market

Steel Rebar Market

Steel Rebar Market Asia Pacific will generate revenue over USD 110 billion by 2024. The region already accounts for 60% of the world population and increasing necessity to accommodate rising inhabitants will enhance regional construction spending. In addition, regional technology services sector expansion will also propel telecommunications infrastructure investments.

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Rapid construction of highways, bridges & buildings, and public utilities owing to shifting economic and demographic trends will drive steel rebar market Increasing smart city projects financed by public-private partnership will propel product application scope. As per industry estimates, global infrastructural spending was over USD 4.5 trillion in 2016.

Global steel rebar market share is competitive in nature. Key industry participants are:
• Acerinox
• ArcelorMittal
• Gerdau
• SAIL
• Nippon & Sumitomo Metal Corporation
• Tata Steel
• Hyundai
• Essar Steel
• Jindal Steel & Power Ltd.
• Daido
• Kobe
• NJR
• Byer

Presence of key manufactures such as Tata Steel, SAIL, Essar Steel and Jindal Steel & Power Ltd. will also play a key role in promoting regional industry growth. Manufacturers are anticipated to upgrade existing production capacity and adopt new solution through extensive R&D to attain competitive advantage.

Steel Rebar Market by Application:
• Residential buildings
• Public infrastructure
• Industrial

Public infrastructure estimated to witness CAGR over 4.5% up to 2024. Increasing necessity to build and upgrade bridges, roads, government institutions, airports, water treatment infrastructure and rail services fueling product demand. Changing consumer trends and rising disposable income will drive the construction of new commercial buildings, shopping malls, and sports complexes over the projected timeframe.

Residential building application witnessed demand over 95 million tons in 2016. Surge in public-private partnership projects will provide lucrative business opportunities for manufactures. Increasing government spending on construction of smart cities will drive steel rebar market growth. Emerging economies such as India, China, Japan and South Korea expected to invest in smart city projects over the forecast period. For instance, Indian government is expected to invest USD 15 billion for development of 100 cities in coming years.

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Steel Rebars Industry by Product:
• Deformed
• Mild

Deformed steel rebar dominated the overall industry and expected to witness growth over 4.5% up to 2024. Key properties such as minimum slippage and improved mechanical anchoring supporting product penetration. Increasing demand for reinforced concrete cages, columns, slabs, prefabricated beams, will foster industry growth. Strong application outlook to refurbish old structures will propel steel rebar market.

Steel Rebar Market by Process:
• Basic oxygen steelmaking
• Electric arc furnace

Electric arc operations accounted for over 40% of the overall industry demand in 2016. Rising carbon and alloy steels production by recycling ferrous scrap fostering the segment growth. Factor such as quality control, reduced costs, low CO2 emission and better energy savings potential will support steel rebar market growth. Globally, increasing demand for finished structural products and falling scrap prices are expected to further influence segment growth.

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Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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