United States Rebar Steel Market – [2028] Growth, Trends & Forecast

The United States rebar steel market is anticipated to grow at a steady pace in the forecast period, 2024-2028. During the projected period, it is anticipated that rising investments in infrastructure and development projects would drive the demand for steel rebar in the nation. Additionally, in 2022, the rate of global urbanization was 57 percent. North America had the highest rate of urbanization, with more than 45% of the population residing in cities.

Concrete reinforcing bar, often known as steel rebar, is a long, hot-rolled steel component used in reinforced cement concrete (RCC). It is utilised in reinforced concrete and other structures to increase the tensile strength of the concrete, hence increasing the strength of the structure. Steel is employed as a reinforcing bar because concrete and steel have almost identical thermal expansion coefficients for temperature-induced elongation. Molten steel is formed into enormous rectangular billets, which are then sent through a series of dies to form reinforcement bars.

Technological Advancement

Deeper research into the sectoral system of production and innovation is anticipated due to the advancement of innovations, the spread of new processes and technology, and the greater interaction between suppliers, manufacturers, and users in the steel industry.

As a result of growing innovation and development in the steel rebar sector, there will be promising commercial opportunities for both current and new market participants. High-end applications and technological advancements support steel rebar innovation.

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Applications that call for corrosion, epoxy coating, and earthquake resistance use modern steel rebar. Rebar steel is typically made utilising processes like microalloying, thermos mechanical treatment, etc. to increase the material’s bendability, weldability, ductility, and corrosion resistance.

Expanding Investments in Infrastructure Development

The industry is anticipated to grow as infrastructure development and construction projects receive more funding. Due to various infrastructure development projects that are being planned in North American countries to promote economic growth, the demand for steel rebar in the area is projected to increase. The United States is one of the main markets for steel rebar because of the rising expenditure on the development of residential and non-residential regions.

U.S. Government Investment Act & Growing infrastructure Spending

The Infrastructure and Investment Jobs Act 2021, passed by the U.S. government, aims to reconstruct the country by providing funds for infrastructure projects such as ports, highways, trains, bridges, and communication networks. The US’s efforts to rebuild its infrastructure and increased construction investment are anticipated to boost product demand during the course of the forecast timeframe. The government estimates that the United States needs to repair 45,000 bridges, major roads, and highways. The Act grants USD 110.0 billion for road and bridge reconstruction. In addition, the government plans to invest USD 25.0 billion on airports and USD 17.0 billion on port and waterway infrastructure. According to projections, these investments will boost product demand in the United States.

The cost of both residential and non-residential structures has significantly climbed over the past few years. According to the U.S. Census Bureau, spending on single-family homes increased by 19.3% from April 2021 to April 2022, or from USD 400.5 billion to USD 477.6 billion. Construction spending in non-residential areas increased from 456.9 billion to 503.2 billion USD as of April 2022. But when mortgage rates rise in the US, building spending is likely to be constrained, which is expected to have an effect on product demand over the forecast period. The agreed-upon rate, for instance, increased from 3.3% in January 2022 to 5.4% in April 2022 for a 30-year fixed-rate mortgage.

Construction industry vulnerability to crisis

Due to the high initial investment costs of building projects and the potential for significant financial losses as a result of unforeseen events, construction enterprises are particularly vulnerable to crises.

The construction business may experience crises such as political unrest, the economic downturn, and pandemics. Given that steel rebar is mostly used in public construction, commercial and industrial construction, and road and bridge construction, the demand for steel rebar is influenced by the volume of construction activities. Financial problems, widespread unemployment, and a decline in consumer spending power were all consequences of the economic slump. During this time, there are fewer new construction projects and infrastructure improvements, which lowers demand for steel rebar.

Growing Demand from the Non-Residential Sector
Rebar Steel is being extensively used by non-residential sectors such as oil and gas industry, infrastructure, commercial construction, corporate buildings, etc. as a result of rising urbanization. The United States’ overall construction production is anticipated to reach USD 1,639.86 billion in December 2021, according to the U.S. Census Bureau.

The non-residential industry has an estimated value of USD 820.73 billion, up by 3.9% from the same time last year. In the United States, 1 in 5 miles of highways, major roads, and 45,000 bridges are in bad condition, according to a White House briefing. Due to which government will invest an additional USD 110 billion in financing to maintain roads and bridges and support large, transformative projects, as well as reauthorize surface transportation programs for five years,

The commercial sector accounts for 21% of the non-residential construction industry. Along with stores, eateries, and bars, it has capabilities for wholesale and distribution. Since the mid-year of 2020, this class has quickly expanded in size. Distribution centers have performed especially well because of rising web deals. Yet, regardless of appearances, the retail area has not been as terrible. Supermarkets, cafés, and movement-based retail (exercise centers, spas, and active art organizations) have all seen development as of late in spite of the way that enormous shopping centers are done being fabricated.

Amazon is deferring the development of new stockrooms. As per Fortune Magazine, MWPVL Global Inc., which follows Amazon’s land impression, says the business has either shut 42 destinations or dropped plans to fabricate new ones adding up to around 25 million square feet of usable space, because of which the rebar steel market will fill in gauge period.

Recent Development:

• The U.S. Census Bureau reports that when compared to February 2021, the number of single-family dwelling permits issued in Texas grew by 16.5% in February 2022. The state’s authorities anticipate that this trend will continue in the years to come. In Canada, a lot of construction projects are being launched with the intention of ensuring long-term economic growth, transitioning to a clean economy, and promoting social inclusion.
• An enormous network of infrastructure, including roads, bridges, freight rail, ports, electrical grids, and internet connectivity, supports the USD 20 trillion U.S. economy. The systems in place, however, were developed over a long period of time, and experts assert that delays and rising maintenance costs are slowing down economic performance.
• The South Atlantic region got a new rebar micro mill with spooling capabilities, according to a December 2021 announcement from Nucor Corporation. The new micro mill has a 350 million USD CAPEX budget. 430,000 tonnes will be its annual capacity.

Market Segmentation

The United States Rebar Steel Market is divided into type, end use, process, finishing type, region. Based on type, the market is divided into deformed and mild. Based on end use, the market is segmented into residential, commercial, industrial, and public. Based on process, the market is divided into basic oxygen steelmaking and electric arc furnace. Based on the finishing type, the market is segmented by epoxy-coated rebar, carbon steel rebar, and others.

Market Players

Major market players in the United States Rebar Steel Market are Acerinox S.A, ArcelorMittal S.A., Commercial Metals Company, EVRAZ U.S., Inc, Gerdau S.A, Liberty Steel USA, Nucor Corporation, Outokumpu India Pvt. Limited, Schnitzer Steel Industries, Inc, Steel Dynamics, Inc.

Report Scope:

In this report, the United States Rebar Steel Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• United States Rebar Steel Market, By Type:

• Deformed
• Mild

• United States Rebar Steel Market, By End Use:

• Residential
• Commercial
• Industrial
• Public
• Others

• United States Rebar Steel Market, By Process:

• Basic Oxygen Steelmaking
• Electric Arc Furnace

• United States Rebar Steel Market, By Finishing Type:

• Epoxy-Coated Rebar
• Carbon Steel Rebar
• Others

• United States Rebar Steel Market, By Region:

• West
• Midwest
• Northeast
• South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States Rebar Steel Market.

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Table of Content-United States Rebar Steel Market

1. Product Overview
2. Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3. Executive Summary
4. Voice of Customers
5. United States Rebar Steel Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type (Deformed, Mild)

5.2.2.    By End Use (Residential, Commercial, Industrial, Public)

5.2.3.    By Process (Basic Oxygen Steelmaking, Electric Arc Furnace)

5.2.4.    By Finishing Type (Epoxy-Coated Rebar, Carbon Steel Rebar, Others)

5.2.5.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6. North-East United States Rebar Steel Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By End Use

6.2.3.    By Process

6.2.4.    By Finishing Type

7. Mid-West United States Rebar Steel Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By End Use

7.2.3.    By Process

7.2.4.    By Finishing Type

8. West United States Rebar Steel Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By End Use

8.2.3.    By Process

8.2.4.    By Finishing Type

9. South United States Rebar Steel Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By End Use

9.2.3.    By Process

9.2.4.    By Finishing Type