Infrastructure Demand Drives Rebar Market

The need to modernize infrastructure is continuing and so too is the need for more advanced construction materials at the jobsite, take for instance, steel rebar.

Increasing consumption of steel rebar in infrastructure, housing, and industrial segments is driving the market. The steel rebar market is projected to reach slightly more than $154 billion by 2021. 

Modernization and maintenance of infrastructure projects has led to growth. Increasing investments in new infrastructure projects and maintenance of existing projects are contributing towards the steel rebar infrastructure market being the largest and fastest-growing segment. This includes all road, highway and bridge construction, sewage system, airport, and stadium projects.

Looking at it from a global perspective, Asia-Pacific accounted for the largest share of the steel rebar market in 2016, followed by Europe and Middle East & Africa. The rapidly growing construction industry in countries such as China and India has fueled the growth of the market in the region.

This construction material will continue its dominance in the market and be a staple on jobsites for a multitude of projects.

Posted: 7/21/2017 1:32:23 PM



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