DUBLIN--(BUSINESS WIRE )--The "Steel Rebar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global steel rebar market size reached US$ 217.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 314.2 Billion by 2027, exhibiting a CAGR of 6.35% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Steel rebar, or reinforcement steel, refers to a steel wire mesh or bar used as a tension device to reinforce and support concrete and other masonry structures. It is usually manufactured using carbon steel, welded wire fabric, sheet-metal, epoxy, stainless steel and galvanized and glass-fiber reinforced polymers, iron, manganese, carbon, sulfur and phosphorus. Round, square-twisted, ribbed, stretched and ribbed-twisted are some of the commonly used steel rebars.
They are used as a reinforcement to provide support to the structural designs, for minimizing cracking and temperature-induced stress and supporting other steel bars for equal distribution of the overall load. They offer various advantages, such as high durability, tensile strength, thermal resistance and malleability.
Significant growth in the construction industry over the years is one of the key factors creating a positive outlook for the market. Furthermore, extensive infrastructural development, especially in developing countries, is stimulating the market growth. Steel rebars are widely used in the construction of modern skyscrapers, roads, highways, bridges, sewage tunnels, airports and stadiums.
In line with this, growing requirements for deformed steel reinforcing is contributing to the market growth. It is used as a prestressed reinforcing bar in construction activities for minimal slippage and improved bonding with the cement beams and columns.
Additionally, various product innovations, such as the development of thermo-mechanical technology that aids in improving the quality of rebars, are acting as other growth-inducing factors. This enables product manufacturers to create variants with superior tensile strength, ductility and corrosion resistance. Other factors, including rapid industrialization, along with growing product demand from the non-residential sectors, such as oil and gas and manufacturing, are anticipated to drive the market further.
Key Questions Answered in This Report:
6 Market Breakup by Product Type
8 Market Breakup by Finishing Type
9 Market Breakup by End Use
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900