By Type :

The type segment is categorized into carbon steel rebar, stainless steel rebar, galvanized rebar, epoxy-coated rebar, and others. In 2022, the carbon steel rebar segment accounted for the highest market share in the steel rebar market. Carbon steel rebar provides high tensile strength, which is crucial for reinforcing concrete structures and withstanding heavy loads and forces. These types of steel rebar exhibit good ductility, allowing them to bend and deform withstanding fracturing. This property is essential in earthquake-prone regions as it helps absorb energy during seismic events. Hence, owing to all these properties, carbon steel rebar is used in the construction sector to exhibit overall strength to the structure, which is increasing the demand for carbon steel rebar and thus driving the segment growth.

However, the stainless-steel rebar segment is expected to be the fastest-growing CAGR over the forecast period. This type of rebar provides excellent durability, fire resistance, structural performance, and exceptional corrosion resistance in harsh marine environments, resisting chlorides and pitting corrosion. Hence, the increasing demand for stainless steel rebar to protect against corrosion is expected to drive the segment growth during the forecast period.

By Reinforcing Type :

The reinforcing type segment is categorized into deformed and mild. In 2022, the deformed segment accounted for the highest market share in the overall steel rebar market, and it is also expected to hold the fastest CAGR over the forecast period. Deformed steel rebar feature ribs, grooves, and other deformations on their surface which provides several benefits when used in construction and concrete reinforcement. The deformations on the rebar's surface create a mechanical bond with the surrounding concrete. This bond enhances this adhesion between the rebar and concrete, preventing slipping and separation avoiding shrinkage & elongation of concrete, and preventing cracks. Hence, owing to the large benefits offered by the steel rebar they are highly popular across the construction industry and used for various construction activities. This high popularity and advantages offered by the deformed steel rebar are driving the segment growth across the globe.

By Bar Size :

The application segment is categorized into #3 bar size, #4 bar size, #5 bar size, #6 bar size, and others. In 2022, the #4 bar size segment accounted for the highest market share in the overall steel rebar market. #4 bar size steel rebar typically has a diameter of ½ inch or 12.7 millimeters and offers a good balance between strength and flexibility. It is easy to bend and shape, making it suitable for a wide range of construction applications where intricate design or complex structural configurations are required. This type of rebar is commonly used in commercial and industrial construction projects, such as offices, buildings, warehouses, and manufacturing facilities, where it provides the necessary strength for structural stability. The increasing investment in the development of commercial construction projects is driving the demand for steel rebar. For instance, in July 2021, Red Bull, a U.S.-based beverage manufacturing company announced an investment of USD 740 million for the construction of its own manufacturing, filling, and distribution campus in the Concord, North Carolina region.

However, the #5 bar size segment is expected to be the fastest-growing segment during the forecast period owing to its widespread uses in the light commercial and residential construction industries, including patio decks, retaining walls, and caissons.

By End User :

The end user segment is categorized into residential, infrastructure, and industrial. In 2022, the infrastructure segment accounted for the highest market share of 45.50% in the overall steel rebar market. The significant growth in the development of various infrastructure projects worldwide along with increasing investments to boost infrastructure construction activities across developed economies are driving the segment growth across the globe. For instance, in June 2023, the European Union announced USD 324.25 million for the construction of four new flagship infrastructure projects in Bosnia and Herzegovina. Furthermore, in April 2023, The European Climate, Infrastructure and Environment Executive Agency (CINEA) launched a call for proposals for key cross-border EU energy infrastructure projects worth USD 802.59 million from the European Union budget. Therefore, the growing investment for the construction of various infrastructure projects across the developed economies is driving segmental growth.

However, the residential segment is expected to be the fastest-growing segment during the forecast period owing to the increasing residential projects across the globe. For instance, in December 2022, the government of the U.S. announced an investment of USD 1.7 trillion among which USD 30.3 billion was allocated for housing choice vouchers.

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By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, Asia Pacific accounted for the highest market share at 38.65% valued at USD 95.80 billion in 2022 and USD 99.95 billion in 2023, it is expected to reach USD 144.72 billion in 2031. In Asia Pacific, China accounted for the highest market share of 22.30% during the base year of 2022. The significant growth in construction projects across the region is fueling the market growth. For instance, according to the data published by the China State Council Information Office in February 2023, Chengdu, the capital of southwestern China's Sichuan province, announced the launch of 900 major construction projects this year. Among them, 145 are key infrastructure projects with a total investment of USD 132.13 billion. Meanwhile, more capital has been directed toward high-end industries in coastal areas. The significant growth in the construction industry in India is also driving market growth across the region. For instance, according to the report by the National Investment Promotion and Facilitation Agency, owing to the significant growth in the urban population in India, the construction Industry in the country is expected to reach USD 1.4 trillion by 2025.

Furthermore, the North America region is expected to witness significant growth over the forecast period, growing at a CAGR of 6.3% during 2023-20230. This is due to the increasing investments in infrastructure projects across the region. For instance, in February 2022, the government of Mexico prepared a third infrastructure package of USD 3.53 billion for various infrastructure projects across the country.