According to IMARC Group’s latest report, titled “Steel Rebar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global steel rebar market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during 2021-2026
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Steel rebar or reinforcement steel is a steel bar or mesh of steel wire used to reinforce and support concrete and other stone structures. It is manufactured using carbon steel, welded wire fabric, epoxy, stainless steel, galvanized and glass-fiber reinforced polymers, iron, sheet-metal, carbon, sulfur and phosphorus. Steel rebars are available in various sizes and shapes like round, square-twisted, ribbed, stretched and ribbed-twisted. They offer numerous advantages, such as high durability, malleability, tensile strength, and thermal resistance.
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Significant growth in the construction industry over the years is primarily driving the market. Steel Rebars are widely used to construct modern infrastructures like skyscrapers, roadways, sewage tunnels, airports and stadiums. They are utilized as prestressed reinforcing bar in construction activities to minimize the slippage and cracking and improve bonding with the cement beams and columns. Additionally, several product innovations, such as the development of thermo-mechanical technology that improves the quality of rebars, are further catalyzing the market growth. Various manufacturers are introducing advanced variants with superior tensile strength, ductility and corrosion resistance properties which will further continue to drive the market for steel rebar in the coming years.
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