Press release
Steel Rebar Market Set to Hit USD 506.06 billion by 2034, Driven by Innovation & 4.9% CAGR Growth
📚 Market Outlook
The global steel rebar market was valued at USD 313.09 billion in 2024 and is expected to grow to USD 506.06 billion by 2034. The market is expected to expand at a CAGR of 4.9% from 2025 to 2034.
📚 Overview
Steel rebars are rods utilized in concrete construction to generate reinforced concrete. They are normally ribbed to prohibit slipping within the concrete and offer an aggregate of advantages, such as enhancing the structural robustness of concrete projects. Concrete possesses an excessively high compression strength but proportionately low tensile and torsional strength. Steel assists this by offering elevated strength in those regions, assisting in prohibiting the configuration and proliferation of cracks that could demolish the entire project. Further, steel is the best substance for rebar usage due to its homogenous thermal augmentation attributes to concrete, circumventing several issues in the context of temperature alteration.
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📚 Growth Factors and Opportunities
Increased residential, commercial, and infrastructure projects being shouldered globally are expected to drive up the demand for steel rebar. Moreover, growing funding in infrastructure advancement, where governments and private sectors are disbursing massively on roads and bridges, will propel the steel rebar market forward.
📚 Key Participants
The market is continuously developing with several firms striving to invent and differentiate themselves. Some of the major players participating in the steel rebar market are:
• ArcelorMittal
• Gerdau S/A
• JSW
• Mechal
• NIPPON STEEL CORPORATION
• NLMK
• Nucor
• SAIL
• Steel Dynamics Inc.
• Tata Steel
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📚 Steel Rebar Market Report Highlights
o Based on type, the deformed segment recorded the largest revenue in the global market in 2024. This growth is attributed to the rising demand for deformed steel rebar in the construction of high-rise skyscrapers.
o By application, the construction & infrastructure segment dominated the market in 2024 due to the increase in the number of construction and infrastructure projects worldwide.
o In 2024, Asia Pacific had the largest revenue share of the global market due to rapid industrialization, urbanization, and significant infrastructure development in the region.
o The steel rebar market in North America is experiencing significant growth in the global market due to increased investment in infrastructure.
📚 Country-Wise Insights:
Steel Rebar Market, Regional Outlook
🔹 North America
» Type Outlook
» Mild
» Deformed
» Application Outlook
» Construction & Infrastructure
» Industrial
🔹 Europe
» Type Outlook
» Mild
» Deformed
» Application Outlook
» Construction & Infrastructure
» Industrial
🔹 Asia Pacific
» Type Outlook
» Mild
» Deformed
» Application Outlook
» Construction & Infrastructure
» Industrial
🔹 Latin America
» Type Outlook
» Mild
» Deformed
» Application Outlook
» Construction & Infrastructure
» Industrial
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📚 Market Segmentation
The steel rebar segmentation is mainly based on type, application, and region. Based on type, the deformed segment accounted for the largest market share in 2024. Also, according to the application, the construction & infrastructure segment held a significant revenue share in 2024. Growing demand for housing, conveyance systems, and important services is fueling the segment. Further, progressions in construction technology, substances and project handling have rendered extensive projects more practical and economical, additionally speeding up global infrastructure advancement and pushing the demand for steel rebar.
Steel Rebar Market, Type Outlook (Revenue - USD Billion, 2020-2034)
☛ Mild
☛ Deformed
Steel Rebar Market, Application Outlook (Revenue - USD Billion, 2020-2034)
☛ Construction & Infrastructure
☛ Industrial
📚 FAQs
1. What is the current market size of the steel rebar industry?
◘ The steel rebar market was valued at USD 313.09 billion in 2024 and is expected to reach USD 506.06 billion by 2034.
2. What is the projected growth rate of the steel rebar market?
◘ The market is anticipated to grow at a CAGR of 4.9% from 2025 to 2034.
3. Which region led the global steel rebar market in 2024?
◘ Asia Pacific held the largest revenue share in the global market in 2024.
4. Which steel rebar type generated the highest revenue in 2024?
◘ The deformed segment dominated the market due to its high demand in high-rise construction projects.
5. Which application segment had the largest market share in 2024?
◘ The construction & infrastructure segment led the market, driven by
increasing global construction and infrastructure developments.
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