Steel Rebar Market Summary

The global steel rebar market size was estimated at USD 243.46 billion in 2024 and is projected to reach USD 325.32 billion by 2030, growing at a CAGR of 5.7% from 2025 to 2030. The growth of this market is primarily driven by the increasing government spending on infrastructure development projects aimed at boosting economic growth and improving public facilities. Steel rebar, known for its high tensile strength and durability, plays a crucial role in reinforcing concrete structures, making it an essential component in modern construction activities such as bridges, roads, commercial buildings, and industrial facilities.

Government initiatives to promote urbanization, smart city development, and transportation infrastructure are further propelling the demand for steel rebar across both developed and emerging economies. In particular, large-scale investments in residential and commercial construction, coupled with the rising need for earthquake-resistant and long-lasting buildings, are driving market growth. Moreover, the steel rebar industry is witnessing advancements in product design and manufacturing technologies, leading to enhanced performance, corrosion resistance, and improved bonding strength with concrete structures.

Key Market Trends & Insights

  • For instance, in the first quarter of 2023, China accelerated infrastructure investment as part of its economic growth strategy, launching over 10,000 major projects nationwide. These projects span various sectors, including advanced manufacturing, water conservation, transport networks, modern services, and new forms of digital and green infrastructure. Such large-scale investments are creating a robust demand for steel rebar to support structural development and ensure the stability and longevity of new constructions.
  • In addition to China, other countries in the Asia Pacific region, including India, Japan, and South Korea, are actively investing in large public and private infrastructure projects. This regional focus on sustainable urban development, industrial expansion, and transportation modernization has made Asia Pacific the global leader in the steel rebar market. Increasing population, rapid industrialization, and favorable government policies promoting domestic steel manufacturing have also strengthened the regional market outlook.
  • Asia Pacific dominated the global steel rebar market with the largest revenue share in 2024, supported by continuous investments in construction and infrastructure. The steel rebar market in China led the region, holding the largest revenue share due to the country's massive public infrastructure projects and expansion of industrial and residential construction. China’s efforts to enhance transportation networks and urban facilities have further boosted demand for high-quality rebar materials.
  • By application, the construction segment led the market with the largest revenue share in 2024. The segment’s growth is driven by the widespread use of steel rebar in concrete structures such as residential buildings, highways, bridges, tunnels, and commercial complexes. The global emphasis on sustainable and durable construction materials continues to strengthen the use of steel rebar in modern infrastructure projects.

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Market Size & Forecast

  • 2024 Market Size: USD 243.46 Billion
  • 2030 Projected Market Size: USD 325.32 Billion
  • CAGR (2025-2030): 5.7%
  • Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights

Some of the key players operating in the market include ArcelorMittal, Nippon Steel Corporation, Baowu Group, and Tata Steel.

  • ArcelorMittal is result of a merger between Mittal Steel Company N.V. and Arcelor in 2007. It is an integrated steel and mining company headquartered in Luxembourg. The company produces a broad range of high-quality finished and semi-finished steel products, including sheet and plate, and long products, including bars, rods, and structural shapes.
  • Nucor is a steel producer and recycling company. The company’s business segments include steel mills, raw materials and steel products. Steel mills segment includes bar mills, sheet mills, structural mills, plate mills, and tubular products. Steel products segment includes reinforcing products, steel mesh, gratings & fasteners, open-web steel joists, joist girders & steel decks, metal buildings & components, and cold finished bar products.

Key Players

  • ArcelorMittal
  • NIPPON STEEL CORPORATION
  • NLMK
  • Nucor
  • Tata Steel
  • JSW
  • POSCO HOLDINGS INC.
  • Jiangsu Shagang Group
  • SAIL
  • Steel Dynamics, Inc.

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Conclusion

The global steel rebar market is poised for sustained growth, fueled by rapid urbanization, infrastructure expansion, and government-led construction initiatives. Increasing investments in residential, commercial, and industrial projects across emerging economies are expected to create consistent demand for high-strength and corrosion-resistant rebar. Technological advancements in steel production and growing emphasis on sustainable construction will further enhance market potential. With Asia Pacific remaining the largest and fastest-growing regional market, the steel rebar industry will continue to play a pivotal role in shaping the future of global infrastructure development and economic progress.