Balkans TMT Steel Bar Market by Diameter (6-8 MM, 8-12 MM, and 12 MM & Above), Application (Residential, Commercial, and Infrastructure), Grade (Fe-415, Fe-500, Fe-550, Fe-600, and Others), and Country (Macedonia, Kosovo, Albania, Serbia, Bosnia & Herzegovina, and Rest of Balkans) - Opportunity Analysis and Industry Forecast, 2018-2024
Thermo-mechanically treated (TMT) bars are fabricated through a metallurgical process, which combines work hardening with heat treatment for formulating a robust and high-strength product from low-carbon steel. These bars are high-strength reinforcement bars, which are widely used in the construction industry, due to their high ductility, resistance to corrosion, weldability, and other desirable physical properties.
The Balkan TMT steel bar market was valued at $1,769 million in 2017, and is anticipated to reach $4,065 million by 2024, registering a CAGR of 12.5% from 2018 to 2024. In terms of volume, this market accounted for 2,669 thousand tons in 2017, and is anticipated to reach 5,435 tons by 2024, registering a CAGR of 10.6% from 2018 to 2024.
Advantages offered by TMT steel bars over other products such as cold twisted deformed steel bars, upsurge in demand for low-cost reinforcement bars, and rise in construction projects such as dams and bridges in the Balkans are the key factors that augment the growth of the Balkan TMT steel bar market.
Furthermore, EU support and cooperation in coal & steel production in the Balkans is expected to boost the market growth. However, technical constraints such as bendability associated with higher grade TMT bars impede the market growth. Conversely, increase in investment by other countries such as China in Balkans heavy industry is anticipated to provide future growth opportunities to the market.
The Balkans TMT steel bar market is segmented based on diameter, application, grade, and country. On the basis of diameter, the market is divided into 6—8 mm, 8—12 mm, and 12 mm & above TMT steel bars. The applications covered in the study include residential, commercial and infrastructure. Depending on grade, the market is fragmented into FE-415, FE-500, FE-550, FE-600, and other. Country wise, it is analyzed across Macedonia, Kosovo, Albania, Serbia, Bosnia & Herzegovina, and rest of Balkans.
This report entails a detailed quantitative analysis of the current market trends from 2017 to 2024 to identify the prevailing opportunities along with strategic assessment of the Balkans TMT steel bar market.
Market volume, size, and estimations are based on comprehensive analysis of the grades, applications, and diameters of the products.
An in-depth country-based analysis assists to understand the regional market and facilitate the strategic business planning.
Key market players are thoroughly analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
12 mm & above
Bosnia & Herzegovina
Rest of Balkans
The list of key players operating in this market includes:
Balkan Steel Engineering Ltd.
Metalopromet d.o.o. Kula
The other players included in the value chain analysis (and not included in the report) include:
Eurometal Bulgaria Ltd.
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