Galvanized Reinforcing Steel Market

The global Galvanized Reinforcing Steel Market Size was USD 292.2 million in 2024 and the market is projected to touch USD 398.3 million by 2031, exhibiting a CAGR of 5.30% during the forecast period.

Reinforcing steel also known as rebars is made from an iron ore raw material. A galvanized steel reinforcement bars are steel rebar which is coated by zinc through galvanization. These galvanized rebars are made to resist corrosion from environment and have longer durability. This rebar has great power to resist the attacks by chloride salt and concrete carbonation.

This type of steel provides the tensile strength to the concrete, beams and slabs. The rebar supplements compressive strength and gives extra shear strength to the concerts. The encouraging government policies and regulation and the eco-friendly products created great opportunities to grow.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

In the pandemic, this market also had a phase of slow growth due to the slowdown of the supply and other areas which are connected with this market are highly affected such as production, manufacturing units and others. Due to COVID-19, it restricts the mining process which has a great impact on the steel market because of this, the less supply of iron ores and scrap iron decreased. Along with the limited raw materials, the transportation and distribution systems affected the production process.

The latest trends in the market of rebar industries is wide-ranging utilization of rebar in non-residential areas such as gas and oil industries, corporate building, infrastructure, commercial constructions, and others. India is anticipated as a consistent fastest growing G20 economy.

GALVANIZED REINFORCING STEEL MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Conventional Hot-dip Galvanized Rebar and Continuous Hot-dip Galvanized Rebar

• Conventional Hot-dip Galvanized Rebar: In this type of galvanization, the steel bars are immersed in a bath of molten zinc to create a protective coating layer. The process conventional galvanization is done in batches.
• Continuous Hot-dip Galvanized Rebar: In this type of galvanization, the steel bars are passed through a line of continuous galvanizing. It is also cost-effective and efficient galvanization process.

By Application

Based on application the market can be categorized into Infrastructure, Commercial and Residential, Others

• Infrastructure: In the infrastructure application segment, these bars are highly used in the construction of buildings, highways, bridges, and other large infrastructure projects due to the quality of corrosion resistance and strength of the steel bars.
• Commercial and Residential: In the commercial and residential application segment, utilization of these bars includes farming structure, reinforcement of concrete structures, and foundations.
• Others: The other application segments of the steel bars due to its reliability and durability are in the field of agriculture, manufacturing, and transportation.

"Increasing Demand of Rebar Increases the Market Extremely"

It is one of the key driving factors for the Galvanized Reinforcing Steel Market Growth due to increasing demand of rebar products and services. Due to change in preferences of the customers and urbanization, the increasing populations increases the demand of the rebar. With the advanced technology, the production of innovative products with enhanced efficiency and effectiveness propelled the market growth.

"Awareness of Environment Encourages the Market Growth"

Escalating awareness about the sustainable environment and require for reduction of carbon emission encourages the market growth. With the assistance of government policies and investment on promoting the renewable energy projects and carbon price mechanism pushed the manufacturer to adopt eco-friendly and renewable steels.

"Infrastructure Limitations Restrict the Market Growth"

Limitation of the infrastructure investment for storage facilities and grid upgrade may slow down the market growth. It required a high amount of investment to develop and install a rebar solution for larger projects. There are many other restraining factors such as tax incentives, competing technologies, and others.

GALVANIZED REINFORCING STEEL MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific Dominates the Market due to Increasing Investment in Constructions"

The Asia Pacific region is dominating the Galvanized Reinforcing Steel Market Share due to the growing investment in the commercial and residential construction in this region that includes India, China, Vietnam, Indonesia, and the Philippines. With the support from the government to increase the residential sectors in India has boosted the market growth. China is the greatest contributor in infrastructure worldwide.

There are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market. Many prominent industry players are operating in this market focused on providing good quality products.

• Commercial Metals Company (U.S.)
• Nucor (U.S.)
• ZINKPOWER (Germany)
• Debrunner Acifer Bewehrungen (Switzerland)
• Tata Steel (India)
• TG Co., Ltd (Japan)
• Madhav KRG Group (India)
• Xiamen New Steel Metal Products Co., Ltd (China)
• Jenco Group (India)

February 2022: Nucor Corporation announced acquirement of the ownership in the California Steel Industries, Inc. (CSI). The California Steel Industries, Inc. manufactures flat-rolled steel converter and produce finished steel and steel products. This made CSI a joint venture company owned by Nucor Corporation and JFE Steel.

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global galvanized reinforcing steel market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.