The steel rebar market is projected to reach USD 154.08 Billion by 2021, at a CAGR of 5.0% from 2016 to 2021. The key factor driving the growth of the steel rebar market is the rising demand for steel rebar for construction projects from various end users such as the infrastructure, housing, and industrial segments.
The major types of steel rebars are deformed and mild steel. Deformed is the largest and fastest-growing market, owing to its deformed surface which helps in the bond between materials and minimizes slippage in concrete.
The steel rebar market by end user has been classified into infrastructure, housing, and industrial segments. Infrastructure is the largest and fastest-growing segment, as steel rebar is widely used in infrastructure projects which include bridges, highways, dams, and stadia, among others.
The steel rebar market by process is classified into basic oxygen steelmaking, and electric arc furnace. The basic oxygen steelmaking segment is the largest and fastest-growing segment in this market, owing to its superior characteristics such as high production rate, steel with low nitrogen content, and requiring less labor.