NEW YORK, March 16, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has published a new report on the global concrete reinforcing bar (rebar) market, providing detailed insights, trends, and forecasts up to 2030. The report is available for purchase on their website, with trial access to market data available on the IndexBox platform: https://www.indexbox.io/store/world-concrete-reinforcing-bars-market-analysis-forecast-size-trends-and-insights/
The comprehensive study reveals that the global concrete reinforcing bar market is expected to grow at a steady pace, with a projected CAGR of around 4% from 2021 to 2030. The demand for rebar will be driven by the growth of the construction industry, investments in infrastructure projects, and technological advancements in construction materials.
Key growth drivers for the global rebar market include rapid urbanization, government investments in infrastructure projects, and technological advancements in construction materials. However, challenges such as fluctuations in raw material prices and environmental concerns associated with the production process may hinder the market's progress.
Key Statistics and Insights:
Product Type:
- Deformed rebars are the dominant product type, accounting for over 75% of the global market share. This is attributed to their superior bond strength, high tensile strength, and durability.
- Mild steel rebars, though less popular, are still used in specific applications, such as low-rise construction and small-scale projects.
Application:
- Infrastructure and residential construction segments are the largest consumers of rebar, accounting for more than 60% of the global demand. This is driven by increased investments in transportation, urban development, and housing projects.
- Commercial construction and industrial segments are also expected to exhibit steady growth, fueled by the expansion of businesses and industrial facilities.
Region:
- The Asia-Pacific region leads the global rebar market, accounting for over 50% of the total consumption. China and India are the key growth drivers in the region, supported by rapid urbanization and government investments in infrastructure projects.
- North America and Europe follow, with the United States, Canada, Germany, and France being significant markets. The growth in these regions is primarily driven by the recovery of the construction industry and the need to upgrade aging infrastructure.
- Latin America and the Middle East & Africa are also expected to witness significant growth in the rebar market, owing to investments in infrastructure development and the construction of new residential and commercial buildings.
The report also identifies the largest manufacturers in the industry, including ArcelorMittal, Gerdau, Nippon Steel & Sumitomo Metal Corporation, and POSCO.
Aleksandr Romanenko, CEO of IndexBox, said, "The global concrete reinforcing bar market has shown resilience in the face of economic fluctuations and environmental concerns. We believe that with continued investments in infrastructure development and technological advancements, the market will continue to grow, providing ample opportunities for manufacturers and consumers alike."
For more information on the report and to access trial market data, please visit the IndexBox website.
Keywords: Concrete Reinforcing Bar, Rebar Market, Construction, Infrastructure, Market Research
