The global steel rebar market, valued at USD 270.18 billion in 2021, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. This growth is primarily driven by rising investments in infrastructure development and construction activities worldwide. Governments across various regions are focusing on boosting economic growth through infrastructure improvements, which directly support the demand for steel rebar.

In 2021, for example, the Chinese government allocated USD 573 billion in special-purpose bonds (SPBs) for local governments to rebuild and develop the country’s infrastructure. Half of the funds from these bonds were directed toward industrial parks and transport infrastructure, underscoring the massive push for development that fuels demand for steel rebar.

Similarly, the U.S. is one of the major consumers of steel rebar, with increasing government spending on infrastructure rebuilding. The Infrastructure Investment Jobs Act passed in 2021 includes substantial investments in projects such as bridges, roads, rails, ports, and communication systems. These investments are expected to drive continued demand for steel rebar in the coming years.

In recent years, there has been a significant increase in expenditures on both non-residential and residential construction, reflecting the growing demand for infrastructure development, housing, and commercial projects. This surge in construction spending is attributed to several factors, including increased investments in urbanization, infrastructure upgrades, and housing development across various regions.

Gather more insights about the market drivers, restrains and growth of the Steel Rebar Market

Regional Insights

Asia Pacific

The Asia Pacific region accounted for over 60% of the global steel rebar market revenue in 2021, making it the dominant market. Key drivers include large-scale infrastructure projects, particularly in China and India. In early 2022, the Indian government allocated USD 1.89 billion to projects like the 'Housing for All' and 'Smart Cities Mission', both of which are expected to significantly boost steel rebar demand in the region. The ongoing development in China and other countries in the region continues to expand the demand for steel rebar as construction and infrastructure activities ramp up.

North America

In North America, the steel rebar market is expected to grow at a 4.8% CAGR from 2022 to 2030, influenced by increasing government investments in infrastructure development. In Mexico, the government has allocated significant funds for the third infrastructure development fund, focusing on revamping critical infrastructure such as airports, rail lines, and ports. This is complemented by investments in the U.S., where the Infrastructure Investment Jobs Act is spurring various construction projects that will require substantial amounts of steel rebar.

Additionally, the German government also plays a role in driving steel rebar demand in Europe. In October 2021, the government announced USD 109.32 billion for the development of rail infrastructure, further bolstering market growth.

Overall, investments in infrastructure projects across these regions are expected to significantly support the continued expansion of the steel rebar market. As government spending increases and construction activities ramp up, steel rebar will remain a crucial material for economic development and growth worldwide.

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Key Steel Rebar Market Companies

The global steel rebar market is characterized by a fragmented landscape, with both established industry giants and small-scale players operating across various regions. This dynamic creates intense competition, as larger players leverage their financial strength, market experience, and technological advancements to maintain a competitive edge. At the same time, smaller players employ niche strategies to capture specific market segments or local demand.

Some prominent players in the global steel rebar market include:

• ArcelorMittal
• NIPPON STEEL CORPORATION
• NLMK
• Nucor
• Tata Steel
• JSW
• POSCO HOLDINGS INC.
• Jiangsu Shagang Group
• SAIL
• Steel Dynamics, Inc.

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