Global Steel Rebars Market 2017-2021
About Steel Rebars
Steel rebars, also known as reinforcing bars, are widely used in the construction industry. These are categorized under long products and steel bars. The major function of these bars is to absorb tension in concrete and masonry structures and hold these structures under tension.
Concrete structures do not have proper tension properties. Therefore, to balance, the rebars are placed inside the concrete structure to provide shape and increase the tension capabilities. The rebar is rugged and not smooth; therefore, it helps in the attachment of concrete to the bars.
Technavio’s analysts forecast the global steel rebars market to grow at a CAGR of 6.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global steel rebars market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Steel Rebars Market 2017-2021
Technavio recognizes the following companies as the key players in the global steel rebars market: ArcelorMittal, EVRAZ, Gerdau, Jiangsu Shagang, Nucor, and Tata Steel
Other Prominent Vendors in the market are: Baosteel, Byer Steel, Celsa Steel, CMC, HBIS GROUP, HYUNDAI STEEL, Jindal Shadeed Iron & Steel, Mechel, NLMK, POSCO SS VINA, Rajhi Steel, Riva Group, SAIL, and SteelAsia.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of secondary steel. The major raw materials used in the production of steel are iron ore and steel scrap. The use of steel scrap as a raw material in the production of the steel has increased. The use of iron is being reduced as mining is expensive and the ores of iron are depleting.”
According to the report, one of the major drivers for this market is Growth of private non-residential sector. The growth of private non-residential sector will be adding to the demand for steel rebars during the forecast period. In 2016, there was a growth of 7% in the private non-residential sector. The major contributors to this growth were the construction of lodging, office space, and business and amusement-related structures.
Further, the report states that one of the major factors hindering the growth of this market is Overproduction capacity of steel in global scenario. One of the main challenges faced by the global steel manufacturers is the excess production capacity in the steel industry and low demand for the product. These factors result in lowering of the price, thereby affecting the bottom-line of the company. The Organisation for Economic Co-operation and Development (OECD) steel committee has been keeping a check on the excess production capacity and is trying to frame policies by providing adequate data to the manufacturing units in terms of steel production, so they can curtail some production to maintain the balance in demand and supply.
ArcelorMittal, EVRAZ, Gerdau, Jiangsu Shagang, Nucor, Tata Steel, Baosteel, Byer Steel, Celsa Steel, CMC, HBIS GROUP, HYUNDAI STEEL, Jindal Shadeed Iron & Steel, Mechel, NLMK, POSCO SS VINA, Rajhi Steel, Riva Group, SAIL, and SteelAsia.
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