According to the research report titled ‘Steel Rebar Market Size By Product (Deformed, Mild), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By Application (Residential Buildings, Public Infrastructure, Industrial), Industry Analysis Report, Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global steel rebar market is expected to be worth over USD 198.6 billion by the year 2026.
 

According to the report, rapid urbanization in emerging economies has surged the development of residential infrastructure which in turn is driving the steel rebar market growth. Steel rebars have gained prominence in construction due to their high stress bearing and reinforcement capacity with concrete. Moreover, these products help extend the life span of structures as well as offer better stability, thereby aiding the expansion of the market.
 

As per product type, the report states that deformed steel rebar market segment held 75% revenue share in the year 2018. Factors such as high tensile strength and greater bonding with concrete has led to rising adoption of deformed steel rebar in construction activities.
 

On the other hand, the report cites that mild steel rebar product segment will register moderate growth during the forecast period. Mild steel rebars are fragile despite providing tensile and strength properties. Moreover, mild steel rebars can not only be recycled but can also be used for welding, cutting, and drilling applications.
 

In terms of process, BOF (Basic Oxygen Steelmaking) segment holds the largest share of the steel rebar market. BOF processes are extensively used to manufacture deformed or mild steel rebars. Meanwhile, EAF (Electric arc furnace) process segment is presumed to expand significantly due to its high energy efficiency and low production cost properties.
 

Considering the geographical landscape, the report cites that Asia-Pacific steel rebars market will witness substantial growth during the estimated timeframe. Growing population and rising construction activities in Thailand, Malaysia, China, Indonesia, and India are contributing towards the popularity of the product across the region. Favorable government initiatives which promote infrastructural development along with increasing production of steel are also facilitating the regional business scenario.
 

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In contrast, the burgeoning trend of remodeling and home improvement in North America and Europe are boosting the growth of the steel rebar market. Moreover, growing demand for healthcare, tourism, and education facilities in Middle East & Africa are augmenting the demand for steel rebars across the region.
 

Celsa Steel UK, Byer Steel, Outokumpu OYJ, Barnes Reinforcing Industries, Posco SS Vina, The Conco Companies, Jindal Steel & Power Ltd., Commercial Metals Company (CMC), Evraz Plc., Kobe Steel, Daido Steel, Hyundai Steel, Acerinox S.A., Mechel OAO, Essar Steel, Nippon Steel & Sumitomo Metal Corp., Gerdau Sa, Steel Authority of India Ltd. (SAIL), Tata Steel, and Arcelormittal are the prominent companies operating in the steel rebar market.