Steel Rebar Market

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Steel Rebar Market by Products Regional
Analysis 2019 - 2024
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• Steel Rebar Market Scenario

• The surging implementation of smart city programs
  across several countries will also have a
  remarkable impact on steel rebar industry growth,
  as regional governments have been making heavy
  investments in the construction of buildings,
  road, and highways. Taking into account growing
  demand for steel rebar, many fabrication
  companies have been working toward constructing
  new production facilities. For instance, the U.S.
  based steel manufacturer, PennFab, recently
  commenced the production of rebar cages for
  highway signs, signal bridges, and catenary
  poles.
• The year 2017 witnessed China manufacturing
  around 832 million tons of steel. Currently the
  country is looking forward to encouraging biggies
  to develop more electric furnaces in order to
  process scrap, which is likely to have a
  considerable impact on China steel rebar industry
  trends. The APAC region has been depicting an
  increase in industry size, despite rising product
  prices.
• It has been observed that driven by the growing
  steel product requirement from the industrial,
  automotive, and construction sectors, Japan
  market has been consistently generating a
  substantial valuation. As per statistics, in
  2016, APAC accounted for 65 of the overall
  industry share. Escalating investments in urban
  development projects mainly across India and
  China will also boost product demand over the
  years ahead.

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• Lately, on account of the vivid environmental
  crackdown, the worlds largest steel producer
  China, apparently declared to reduce its steel
  production capacity by 2020. In consequence, this
  has led to the shutdown of numerous induction
  furnaces, gradually resulting in the rise of
  steel rebar prices. Last year alone, the price of
  steel bars increased by around 38. In essence,
  this decision taken by the Chinese government has
  helped many downsized companies to improve their
  market position with the production of steel
  rebars.
• Undeniably, the surging deployment of steel and
  the rise in the construction of myriad
  steel-based structures in long-term projects are
  likely to boost overall industry outlook.
  According to Global Market Insights, Inc., steel
  rebar market will generate revenue of more than
  USD 170 billion by the end of 2024.
• It has been observed that the increasing
  deployment of regulatory programs related to
  smart cities and industrialization will generate
  lucrative opportunities for giants in market for
  future. Smart cities have emerged as one of the
  visionary projects for several regional
  governments for a high quality and sustainable
  life comprising mobility, infrastructure,
  resource availability, technology, connectivity,
  and environment.

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• Regional Analysis

• Considering the rising prices of steel rebars
  across several countries including Kuwait, Egypt,
  and China, most of the players in steel rebar
  industry have been working toward improving their
  production facilities to produce quality steel
  rebars at a competitive price. The Malaysia based
  company, Leader Steel Holdings Bhd, for example,
  made it to the headlines for having announced its
  decision to commence the manufacturing of
  cost-effective reinforced bars for the local
  market.

• Competitive Analysis

• Key industry players are ArcelorMittal, Acerinox,
  Essar, Nippon Sumitomo Metal Corporation,
  Gerdau, Tata, Jindal, Commercial Metals Company
  and SAIL. Other prominent industry players are
  Daido, Hyundai, NJR, Kobe and Byer. Manufacturers
  are anticipated to adopt merger acquisition
  strategy to gain competitive advantage.

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