Rebar is also known as steel reinforcement bar used as a tensioning device in the construction industry mainly for concrete reinforcement. Steel rebar is the versatile constructional material extensively used to hold and strengthen the concrete in a compressed state. Reinforcement concrete is a complex material fabricated from concrete along with some procedure of reinforcement.
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Concrete is adamant in density, but nearly with less strength. Though, to overcome this imbalance in concrete, steel rebar is cast into it to hold the tensile load. There are five types of rebar namely welded wire fabric, sheet metal reinforcing bars, stainless steel rebar, wire mesh or expanded metal. The steel rebar usually consists of such size and shape that they can easily be placed and bent in the concrete to form a monolithic structure.
The steel rebar has an excellent bendability property which makes it the best material as reinforcement raw material in the concrete structure. The steel rebar significantly reduce the risk of cracking, has a high impact resistance, reduce spalling joint edges, and high durability.
Steel Rebar Market: Drivers and Restraints
Expanding construction industry globally, declining steel price, reduce wastage, minimize overlapping at joints, helps in faster infrastructure development are the primary factor driving the growth of global steel rebar market. Moreover, an advanced thermo-mechanical technology that helps in improving the quality of steel rebar, and unique features of steel rebar such as high tension, ductility, provide perfect shaped beams, and columns with accurate quantity of cover concrete are some of the prominent factors fueling the growth of steel rebar market over the forecast period.
However, rusting of unprotected steel will reduce its strength which will further minimize the reinforced concrete strength, and the high cost of fabrication used for casting rebar concrete may limiting the growth of the steel rebar market during the forecast period.
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Steel Rebar Market: Segmentation
The steel rebar market has been classified by product type, finishing type, and end user.
Based on product type, the steel rebar market is segmented into the following:
Based on finishing type, the steel rebar market is segmented into the following:
Based on the end user, the steel rebar market is segmented into the following:
Steel Rebar Market: Overview
Steel rebar market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well soon owing to use of steel rebar in construction to strengthen infrastructures along with minimizing the effect of stressors such as temperature, and tension.
Additionally, steel is used as the finest material for reinforcement of concrete because of its expansion property, and its bond strength with concrete are the factors that can propel the market revenue growth of steel rebar in the near future. Based on product type, deformed steel bar segment is projected to lead the global steel rebar market over the forecast period attributed to the fact that it reduces slippage in concrete along with enhancing the bond between the two materials, and have more tensile strength compared to mild steel bars. According to World Steel Association, in , the per capita finish steel consumption of India was around 59 kg compared to 215 kg of globally.
Steel Rebar Market: Region-wise Outlook
Depending on the geographic region, steel rebar market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. North America dominates the steel rebar market followed by Europe, and Japan is owing to developed infrastructure, and expanding imports of steel rebar or concrete reinforcing bar in the U.S, established research & development institutes, and favorable market conditions such as rebounding non-residential construction activities.
The market in Asia-Pacific is projected to have the fastest growth due to growing manufacturing industry, expanding construction technology, government initiatives to promote steel use, the rise in demand for steel rebar for concrete reinforcement, and the presence of domestic steel trades. Moreover, growing national investment, and expanding the number of high profile steel ventures and selling duty-free steel rebar products by key players in developing countries are some of the factors which are anticipated to surge the growth of steel rebar market throughout the forecast period.
Steel Rebar Market: Key Players
Some of the prominent players in the steel rebar market are
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Steel Rebar: Definition
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Steel rebars, also known as &#;steel reinforcement bars,&#; are deformed ferrous steel bars that increase the tensile strength of concrete. The concrete itself has weak tension but strong compression.
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The steel rebars elongate when they are exposed to high temperatures. It functions as a tension device in reinforced masonry and reinforced concrete buildings.
Carbon steel, stainless steel, European, epoxy-coated, welded wire fabric, galvanised, sheet metal, expanded metal or wire mesh, and glass-fibre reinforced polymer (GFRP) rebars are among the varieties of rebar that are offered.
This blog contains detailed information on production process, pricing trends, key competitors, and market drivers.
Production Process of Steel Rebar
Steel rebar production via electric arc and rolling steel mills:
Steel rebar is produced through electric arc and rolling steel mills. The procedure involves gathering scrap steel from various sources and feeding it into an electric arc furnace, where the steel slag is initially stored in a ladle and is heated to temperatures as high as 1,800 °F to melt it. After that, the molten steel is created and is confined in casters with the help of tundish, which stops the molten steel from splashing. The steel is given the necessary shape after being placed in several casters.
Thus, the billets are created, which are further treated to create steel billets. Following that, the steel billets are stored and processed in rolling steel mills where they are rolled to the necessary specification for steel rebar.
Steel Rebar Price Trend
North America
Steel rebar&#;s price stayed the same. The completion of construction enterprises backlogs and less competitive international prices were accompanied by delayed orders for market participants.
Steel rebar manufacturers decreased their pricing to keep pace with falling import prices, which were further slashed by a slowdown in United States demand for foreign capacity in and falling raw material costs.
According to sources in the market, rising infrastructure expenditure was the main factor influencing the cautiously optimistic forecast for domestic demand. The supply chain was impeded by the festive holidays and heavy snowstorms.
Asia Pacific
As the steel rebar production cost continued to fall, its prices displayed conflicting sentiments. Steel rebar surged in the Chinese market as a result of falling inventory levels, as the supply chain was impeded by rising infection rates and workforce shortages. On the upstream side, coke stabilised, and the price of scrap steel fluctuated side by side, maintaining stability overall. Month after month, demand fell while the regional market&#;s seasonal effects grew.
However, demand was minimal during the typical off-season. The impacts of the off-season intensify in December. Steel production fell further as a result of decreased profits.
Europe
Due to sluggish demand and ample supplies to serve the domestic market, the overall market prices of steel rebar in Europe continued to decline.
Leading steel mills around the country also significantly altered their factory prices, which caused spot costs for domestic businesses to soar. Furthermore, the raw material trend was solid, providing spot products with significant short-term support. Due to consumer and industry competition, the European market had significant inventories.
The pricing remained within the constant range. For the Christmas season, steelmakers experienced early supply and demand imbalances. Steel rebar producers intend to pause production for maintenance before resuming it.
Key Market Players:
Steel Rebar Producing Countries
The leading steel rebar producing countries are the United States, Japan, South Korea, Turkey, Brazil, Iran, and Russia.
Market Drivers
One of the main elements fostering a favourable view for the steel rebar market is the construction industry&#;s significant rise over the years. In addition, market expansion is being fueled by considerable infrastructure construction, particularly in developing nations.
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In the building of contemporary skyscrapers, roads, highways, bridges, sewage, tunnels, airports and stadium, steel rebars are frequently employed. In accordance with this, rising demand for deformed steel reinforcement is boosting market expansion.
In order to minimise slippage and improve bonding with the cement bears and columns, it is utilised as a prestressed reinforcing bar in building activities.
Other growth-promoting aspects include a variety of product breakthroughs, such as the creation of thermo-mechanical technology that helps to enhance the quality of rebars. It is projected that additional factors, such as quick industrialization and rising product demand from non-residential sectors like oil and gas, will further propel the market.
About Author:
Prakhar Panchbhaiya
Senior Content Writer at Procurement Resource
Prakhar Panchbhaiya is an accomplished content writer and market research analyst. With over 4 years of experience in content creation and market analysis encompassing many industries, including pharmaceuticals, nutraceuticals, biochemistry, healthcare, ed-tech, and Food & Agriculture, he has been creating quality content for multiple sectors. He is a Biochemistry major with sturdy backing in a PG diploma in digital marketing, helping in the exhaustive content creation based on extensive research and competitive marketing.
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