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Steel Rebar Market: Snapshot

Steel Rebar, also known as reinforcing bar is widely used in the construction industry, majorly in concrete reinforcement. It serves as a tensioning device and assists to hold the concrete in a compressed state. Concrete can carry a heavy load for compression but is very weak in tension. To allow concrete to carry tensile load, steel rebar is used. Steel rebar is commonly used for concrete construction its thermal co-efficient value is close to the thermal co-efficient value of concrete.

Deformed steel bars, a type of steel rebar, have ribs, lugs, or deformity on the bar surface. These steel bars bind two materials strongly, limit cracks in concrete, avoid slippage and have higher tensile strength than mild steel rebar. Mild steel rebar is used to support the tensile stress of slab beams.

Steel rebar is a cost-effective product that could be used for concrete masonry and concrete reinforcement. Conversely, aluminum is an expensive with less tensile strength alternative for the same applications. However, steel rebar comes with several drawbacks. In the production of steel, various types of wastes are discharged in water which can cause water pollution. Its manufacturing also releases CO2 causing greenhouse effect. It is also responsible for emission of hazardous gases such as nitrogen oxide and sulfur oxide in the air, causing air pollution. The corrosion tendency of steel leads to deterioration of constructions where rebar is used. While these drawbacks will continue posing threat, increasing construction activities worldwide, especially in emerging nations, will keep the demand for steel rebar high in the coming years.

Steel rebar, commonly known as steel reinforcement or reinforced bar, is a steel bar or a mesh of steel wires used in concrete constructions and concrete masonry as a tension device in order to provide support to concrete structures. Concrete exhibits high strength when compressed, but is equally weak under tension. Steel rebar acts as the tensioning device, thus providing strength to concrete structures. It makes these structures stable under strength and tension. Steel is used in concrete reinforcement as it offers high tensile strength and has a thermal co-efficient value, which is close to the thermal co-efficient value of concrete. Furthermore, it is one of the cheaper options that can be used for concrete reinforcement and concrete masonry. Aluminum is a costlier substitute for steel with less tensile strength. However, steel rebar has several disadvantages. These include the corrosion tendency of ferrous materials. This leads to intrinsic deterioration of structures where steel is used. Production of steel adversely affects the environment. For instance, it leads to emission of hazardous gases such as carbon oxides, sulfur oxide, and nitrogen oxide in air. It also is responsible for emission of CO2, thus leading to the greenhouse effect. Production of steel results in discharge of wastes into water, thereby leading to water contamination. The steel rebar market has been expanding due to the rapid infrastructure development, especially in housing, commercial, and industrial infrastructure, in developing nations. The market for steel rebar is expected to expand significantly in the next few years owing to the rapid industrialization in developing nations. There exists a need for substitutes for steel rebar considering its various disadvantages. Some substitutes such as basalt rebar and fiber reinforced polymer are eco- friendly and possess high tensile strength. These substitutes are anticipated to seize some share of the steel rebar market due to the environmental and corrosive effects of steel. Basalt rebar possesses numerous advantages over steel rebar and also has thermal co-efficient almost equal to that of concrete. The industry is experiencing continuous innovations and advancements due to the rapid technological advancements and high end applications of steel rebar. The newer grades that are being introduced are Fe-500, Fe-550, and Fe-500D. Similarly, in terms of application, a newer range of steel rebar that is corrosion resistant, epoxy coated, and earthquake resistant is being used increasingly in applications than the conventional rebar.

Based on application at the site of work, the steel rebar market can be segmented into mild steel bars and deformed steel bars. Mild steel bars are used to support the tensile stress of slab beams. Deformed steel bars come with deformity or lugs or ribs on the bar surface. It has higher tensile strength as compared to the mild steel rebar and avoids slippage, limits cracks in concrete, and also binds two materials strongly.

Based on its finish, the steel rebar market can be divided into black rebar, epoxy coated rebar, and fabricated rebar. The use of these finishes depends on the environmental conditions that the bars are subjected to.  Black rebar is a conventional uncoated rebar used at sites with minimum exposure to moisture, with minimum chances of catching rust or corrosion. Epoxy rebar is usually found in marine applications where there is a high chance of corrosion due to water. Black rebar is the preferred rebar is widely used owing to its cost effectiveness.

In terms of end-use industry, the steel rebar market can be segregated into construction and infrastructure, manufacturing, and oil & gas industry. The construction and infrastructure sector dominates the steel rebar market. The segment is expected to expand during the forecast period due to the rapid development and industrialization in developing countries such as China and India. This is anticipated to result in real estate and infrastructural developments.

In terms of geography, the global steel rebar market can be segmented into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. The market for steel rebar is dominated by North America owing to the large number of construction activities in the region. Asia Pacific is also a key consumer if steel rebar, led by the rapid industrial and infrastructural development in developing countries such as India and China. This results in the need for steel rebar for housing, industrial construction, and other infrastructural construction. Consumption of steel rebar has increased significantly in Asia Pacific.  Europe and Middle East & Africa are the other major consumers of steel rebar.

Major players operating in the global steel rebar market include Arcelor Mittal, Saudi Iron & Steel Co., Tata Steel, and Zamil Steel Holding.

The steel rebar market is expected to expand significantly in North America and developing countries in Asia Pacific due to its cost effectiveness and increase in construction and infrastructure development activities in these regions. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Steel Rebars Market

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