[Latest] Global Steel Round Bars Market Size/Share Worth USD 412.4 Billion by 2032 at a 3.4% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Austin, TX, USA, July 27, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Steel Round Bars Market Size, Trends and Insights By Type (Hot-Rolled, Cold-Rolled, Forged), By Application (Transportation & Automotive, Industrial, Construction, Others), By Sub-type (Alloy, Carbon, Free cutting, Stainless, Tool Steel), By End-use (Infrastructure, Mechanical Engineering, Power, Oil & Gas, Manufacturing), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand for global Steel Round Bars Market size & share was valued at approximately USD 346.5 Billion in 2022 and is expected to reach USD 353.1 Billion in 2023 and is expected to reach a value of around USD 412.4 Billion by 2032, at a compound annual growth rate (CAGR) of about 3.4% during the forecast period 2023 to 2032.”

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Steel Round Bars Market: Growth Factors and Dynamics

• Industrialization and Infrastructure Development: The growth of the steel round bars market is driven by rapid industrialization and infrastructure development projects worldwide. As economies expand, there is an increasing need for steel round bars in various sectors, such as construction, manufacturing, and engineering applications. These bars play a crucial role in supporting buildings, bridges, and other structures, making them indispensable components for modern urbanization.

• Increasing Demand from Automotive and Aerospace Industries: The automotive and aerospace sectors’ robust growth is a significant factor boosting the steel round bars market. As these industries strive for lighter yet stronger materials, steel round bars find extensive use in producing critical components like crankshafts, axles, landing gears, and other structural elements. This surge in demand reflects the essential role of steel round bars in enhancing performance and safety in transportation applications.

• Growing Construction Sector: The construction industry’s expansion, fuelled by rapid urbanization and population growth, creates substantial demand for steel round bars. These bars are extensively used in concrete reinforcement, columns, beams, and other structural elements, offering the required strength and durability for modern building projects. As cities continue to grow and infrastructure demands escalate, the market for steel round bars remains on an upward trajectory.

• Technological Advancements in Steel Production: Ongoing technological advancements in steel production processes are revolutionizing the properties of steel round bars. Techniques like microalloying and thermomechanical rolling improve the mechanical properties of the bars, enhancing their strength, ductility, and fatigue resistance. These advancements have widened the scope of applications and have been instrumental in driving the market’s growth.

• Increasing Demand for Renewable Energy: The rising focus on renewable energy sources, such as wind and solar power, drives the demand for steel round bars used in energy infrastructure. Wind turbine shafts and solar mounting structures rely on high-quality steel round bars for their robustness and durability, supporting the development of sustainable energy solutions.

• Globalization and Trade Opportunities: The ease of international trade and globalization have facilitated the availability of steel round bars in various regions. Manufacturers and suppliers can efficiently cater to diverse consumer demands worldwide, expanding the market’s reach and opportunities for growth. As trade barriers reduce and supply chains become more efficient, the global steel round bars market continues to witness a positive trajectory.

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Steel Round Bars Market: Partnership and Acquisitions

• ArcelorMittal S.A. and POSCO: In 2020, ArcelorMittal S.A. and POSCO entered into a partnership to jointly develop innovative steel round bars for automotive applications. This partnership majorly distinct on utilizing advanced steel technologies to meet the automotive industry’s evolving demands for lightweight and high-performance materials.

• JFE Holdings, Inc., and EVRAZ plc: In 2021, JFE Holdings, Inc. and EVRAZ plc announced a partnership to jointly invest in research and development initiatives for specialty steel round bars. The collaboration focused on developing customized steel solutions to meet specific requirements in sectors like aerospace, automotive, and renewable energy.

• Nucor Corporation’s Acquisition of California Steel Industries: In 2018, Nucor Corporation acquired California Steel Industries, a leading manufacturer of steel products, including steel round bars. Through this acquisition, Nucor expand its product portfolio and gain access to new markets in the western United States.

• JSW Steel’s Acquisition of Aferpi S.p.A.: In 2021, JSW Steel, an Indian steel company, acquired Aferpi S.p.A., an Italian steel producer specializing in long steel products like steel round bars. The acquisition provided JSW Steel with an entry into the European market and access to Aferpi’s production capabilities for further market expansion.

Report Scope

(A free sample of the Steel Round Bars report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on the Request.
• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated.
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Steel Round Bars report has been modified to include the COVID-19 impact study prior to delivery.)

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Steel Round Bars Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Steel Round Bars Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disrupted Supply Chains: The COVID-19 pandemic caused widespread disruptions in global supply chains, including steel production and distribution. Lockdowns, travel restrictions, and workforce shortages led to reduced production capacities and delayed deliveries, impacting the availability of steel round bars and causing fluctuations in prices.

• Decreased Demand from End-Use Industries: Many industries that are significant consumers of steel round bars, such as construction, automotive, and aerospace, experienced a slowdown in operations due to the pandemic’s economic impact. This resulted in reduced demand for steel round bars as these industries prioritized essential operations and delayed non-urgent projects.

• Resumed Industrial Operations: As economies recover from the pandemic’s impact, industrial activities are gradually resuming, driving demand for steel round bars in construction, manufacturing, and infrastructure projects. Stimulus packages and government initiatives to revive economic growth further boost demand.

• Supply Chain Optimization: Companies in the steel round bars market are focusing on optimizing their supply chains to ensure a steady flow of materials and mitigate future disruptions. Improved logistics, supplier diversification, and digitalization of operations enhance supply chain resilience.

• Infrastructure Investments: Governments worldwide are investing in infrastructure development to stimulate economic recovery and create jobs. Increased infrastructure projects, such as bridges, roads, and public facilities, drive demand for steel round bars in the construction sector.

• Renewed Demand from Automotive and Aerospace: As the automotive and aerospace industries rebound, there is a renewed demand for steel round bars for manufacturing critical components. The shift towards sustainable and lightweight materials in these sectors further supports the market’s recovery.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Steel Round Bars Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Key questions answered in this report:

• What is the size of the Steel Round Bars market and what is its expected growth rate?
• What are the primary driving factors that push the Steel Round Bars market forward?
• What are the Steel Round Bars Industry's top companies?
• What are the different categories that the Steel Round Bars Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Steel Round Bars market sample report and company profiles?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2023−2032
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
• Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Steel Round Bars Market:

• ArcelorMittal S.A.
• Nippon Steel Corporation
• Tata Steel Ltd.
• POSCO
• Baosteel Group Corporation
• Hyundai Steel Company
• Jiangsu Shagang Group Company Limited
• JFE Holdings Inc.
• EVRAZ plc
• Gerdau S.A.
• Others

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Steel Round Bars Market – Regional Analysis

The Steel Round Bars Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America, the steel round bars market is witnessing a trend of increasing demand for high-performance steel grades in the aerospace and automotive industries. The region’s advanced manufacturing capabilities drive the adoption of precision-engineered steel round bars for critical applications. Dominating market players in North America include Nucor Corporation, ArcelorMittal USA, and Carpenter Technology Corporation, which offer a wide range of specialty steel round bars.

• Europe: Europe’s steel round bars market is characterized by a growing focus on sustainable construction practices, leading to the adoption of eco-friendly and recycled steel round bars in the infrastructure sector. The region’s stringent regulations on carbon emissions encourage the use of lightweight and energy-efficient steel round bars in various applications. Dominating market players in Europe include Tata Steel Europe, SSAB AB, and Outokumpu Oyj, known for their innovative and sustainable steel solutions.

• Asia-Pacific: In the Asia-Pacific region, the steel round bars market experiences a trend of rapid urbanization and infrastructure development, fueling the demand for robust and cost-effective steel round bars in construction projects. The region’s burgeoning manufacturing industries drive the need for high-quality steel round bars for machinery and equipment. Dominating market players in Asia-Pacific include Nippon Steel Corporation, POSCO, and Baosteel Group Corporation, known for their extensive product portfolios and strong presence in the region.

• LAMEA (Latin America, Middle East, and Africa): With increasing investment in renewable energy projects, such as wind and solar power, leading to a growing demand for specialized steel round bars for energy infrastructure. The region’s rich oil and gas reserves also contribute to the use of high-strength steel round bars in the energy sector. Dominating market players in LAMEA include Gerdau S.A., EVRAZ plc, and SABIC (Saudi Basic Industries Corporation), known for their diverse product offerings and regional market expertise.

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The Steel Round Bars Market is segmented as follows:

By Type:

• Hot-Rolled
• Cold-Rolled
• Forged

By Application:

• Transportation & Automotive
• Industrial
• Construction
• Others

By Sub-type:

• Alloy
• Carbon
• Free cutting
• Stainless
• Tool Steel

By End-use:

• Infrastructure
• Mechanical Engineering
• Power
• Oil & Gas
• Manufacturing

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By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

This Steel Round Bars Market Research/Analysis Report Contains Answers to the following Questions.

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Steel Round Bars Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Status of the Steel Round Bars Market? What Was the Capacity, Production Value, Cost and PROFIT of the Steel Round Bars Market?
• What Is the Current Market Status of the Steel Round Bars Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Steel Round Bars Market by Considering Applications and Types?
• What Are Projections of the Global Steel Round Bars Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Steel Round Bars Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Steel Round Bars Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Steel Round Bars Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Steel Round Bars Industry?

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Reasons to Purchase Steel Round Bars Market Report

• Steel Round Bars Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Steel Round Bars Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Steel Round Bars Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Steel Round Bars Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Steel Round Bars market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Steel Round Bars market analysis.

• The competitive environment of current and potential participants in the Steel Round Bars market is covered in the report, as well as those companies' strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Steel Round Bars market should find this report useful. The research will be useful to all market participants in the Steel Round Bars industry.
• Managers in the Steel Round Bars sector are interested in publishing up-to-date and projected data about the worldwide Steel Round Bars market.
• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Steel Round Bars products' market trends.
• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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