Asia And Europe Steel Rebar Market size is expected to reach USD 283.1 billion by 2028

 Asia And Europe Steel Rebar Industry Overview

The Asia and Europe steel rebar market size was valued at USD 155.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. Governments in various countries are focusing on the expansion of infrastructure through the development of bridges, highways, and tunnels, which is projected to provide new opportunities for steel rebar vendors over the coming years. For instance, The Atal Rohtang Tunnel in Himachal Pradesh that came into service in October 2020 is one of the longest road tunnels in India that has reduced 46 km of distance between Leh and Manali.

 

The Steel Authority of India (SAIL) provided 6,500 tons of TMT rebars and 1,500 tons of structural steel for this project. Similar projects are underway across Asia and Europe, which are projected to fuel market growth over the coming years. China is projected to remain a key consumer in Asia’s steel rebar industry. The country accounted for a volume share of around 72.0% in regional demand. Through its five-year action plan, China is also focused on the improvement of a high-speed rail network, waterway 5G networks, new airports, data centers, charging stations for EVs, gateway airports, and international aviation hubs.

 

Gather more insights about the market drivers, restrains and growth of the Asia And Europe Steel Rebar Market

 

Moreover, under the 13th economic action plan, China would increasingly focus on the development of smart cities. The country has emerged as a hub for high-rise buildings worldwide. As of the first half of 2021, there are about 2,582 buildings in China that are over 150 meters tall while a number of new high-rise buildings are under construction. These buildings are likely to attract steel rebar demand for reinforcing applications. The flourishing real estate sector in the country is further anticipated to augment the growth of the market for steel rebar in China. According to the National Bureau of Statistics of China, investments in real estate rose by 38.3% on a year-on-year basis in the first two months of 2021, reaching USD 215.2 billion (CNY 1.39 trillion). Of these total real estate investments, the residential sector of the country witnessed a growth of 41.9% in the same period.

 

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Key Companies Profile

Some of prominent players in the Asia and Europe steel rebar market include:

  • ArcelorMittal
  • NLMK
  • Tata Steel
  • SAIL
  • JSW
  • JFE Corporation
  • Nucor
  • Evraz plc
  • Celsa Group
  • HBIS Group

 

Order a free sample PDF of Asia And Europe Steel Rebar Market Intelligence Study, published by Grand View Research. 

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