Balkans TMT Steel Bar Market Size Predicted to Generate Huge Revenues in the Future | Balkan Steel Engineering Ltd., Essar Steel, HBIS Group

The Balkan TMT steel bar market was valued at $1,769 million in 2017, and is anticipated to reach $4,065 million by 2024, registering a CAGR of 12.5% from 2018 to 2024. In terms of volume, this market accounted for 2,669 thousand tons in 2017, and is anticipated to reach 5,435 tons by 2024, registering a CAGR of 10.6% from 2018 to 2024.

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Thermo-mechanically treated (TMT) bars are fabricated through a metallurgical process, which combines work hardening with heat treatment for formulating a robust and high-strength product from low-carbon steel. These bars are high-strength reinforcement bars, which are widely used in the construction industry, due to their high ductility, resistance to corrosion, weldability, and other desirable physical properties.

Advantages offered by TMT steel bars over other products such as cold twisted deformed steel bars, upsurge in demand for low-cost reinforcement bars, and rise in construction projects such as dams and bridges in the Balkans are the key factors that augment the growth of the Balkan TMT steel bar market.

Furthermore, EU support and cooperation in coal & steel production in the Balkans is expected to boost the market growth. However, technical constraints such as bendability associated with higher grade TMT bars impede the market growth. Conversely, increase in investment by other countries such as China in Balkans heavy industry is anticipated to provide future growth opportunities to the market.

The Balkans TMT steel bar market is segmented based on diameter, application, grade, and country. On the basis of diameter, the market is divided into 6-8 mm, 8-12 mm, and 12 mm & above TMT steel bars. The applications covered in the study include residential, commercial and infrastructure. Depending on grade, the market is fragmented into FE-415, FE-500, FE-550, FE-600, and other. Country wise, it is analyzed across Macedonia, Kosovo, Albania, Serbia, Bosnia & Herzegovina, and rest of Balkans.

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KEY BENEFITS

This report entails a detailed quantitative analysis of the current market trends from 2017 to 2024 to identify the prevailing opportunities along with strategic assessment of the Balkans TMT steel bar market.
Market volume, size, and estimations are based on comprehensive analysis of the grades, applications, and diameters of the products.
An in-depth country-based analysis assists to understand the regional market and facilitate the strategic business planning.
Key market players are thoroughly analyzed to understand the competitive outlook of the market.

COVID-19 Impact

In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.

The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.

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The list of key players operating in this market includes:

ArcelorMittal Zenica
Balkan Steel Engineering Ltd.
Essar Steel
HBIS Group
HUS Ltd.
Metalopromet d.o.o. Kula
MMD
SIDERAL S.H.P.K.
SIJ Group
TATA Steel

The other players included in the value chain analysis (and not included in the report) include:

Eurometal Bulgaria Ltd.
Ovako Bulgaria
Metalfer Group

KEY MARKET SEGMENTS

By Diameter

6-8 mm
8-12 mm
12 mm & above

By Application

Residential
Commercial
Infrastructure

By Grade

Fe-415
Fe-500
Fe-550
Fe-600
Others

Country

Macedonia
Kosovo
Albania
Serbia
Bosnia & Herzegovina
Rest of Balkans

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This release was published on openPR.