North America Rebar Steel Market – By Type (Deformed, Mild), By End Use (Residential, Commercial, Industrial, and Public), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By Finishing Type (Epoxy-Coated Rebar, Carbon Steel rebar, and Others), and By Country, Competition, Forecast and Opportunities 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Infrastructure | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNorth America Rebar Steel Market – By Type (Deformed, Mild), By End Use (Residential, Commercial, Industrial, and Public), By Process (Basic Oxygen Steelmaking, Electric Arc Furnace), By Finishing Type (Epoxy-Coated Rebar, Carbon Steel rebar, and Others), and By Country, Competition, Forecast and Opportunities 2028
North America rebar steel market is anticipated to grow robustly
Rebar (short for reinforcing bar), frequently referred to as reinforcing steel or reinforcement steel when grouped together, is a steel bar used as a tension device in reinforced concrete and reinforced masonry constructions to aid and strengthen the concrete when it is under tension. While having a low tensile strength, concrete is robust in compression. The structure's tensile strength is greatly increased by rebar. To improve its bond with the concrete and lessen the chance of slippage, rebar has a continuous series of ribs, lugs, or indentations on its surface.
Expanding Investments in Infrastructure Development
Rising investments in infrastructure development and building projects are expected to drive the market. The demand for rebar steel is likely to rise in the region as a result of numerous infrastructure development projects that have been planned in North American nations with the aim of fostering economic growth. For instance, under its investing in Canada plan, the Canadian government has promised to invest more than USD 180.0 billion in infrastructure development in the nation over the next twelve years. Considering the growing spending on the development of residential and non-residential areas, the US is one of the primary markets for rebar steel.
US Government Investment Act and Growing infrastructure Spending
The US government passed the Infrastructure and Investment Jobs Act 2024-2032, which focuses on rebuilding the nation by funding infrastructure projects such as roads, railroads, bridges, ports, communication networks, and water supply systems. Over the course of the projected period, it is anticipated that the US's initiatives to restore its infrastructure and rising construction spending will increase product demand. According to the government, major highways and roads as well as 45,000 bridges require to be fixed in the US. The Act allows USD 110.0 billion for the reconstruction of roads and bridges. The government further intends to spend USD 25.0 billion on airports and USD 17.0 billion on waterways and port facilities. It is projected that these investments will increase product demand in the US during the forecast period.
In addition, spending on both residential and non-residential buildings has greatly increased during the previous years. Corresponding to the US Census Bureau, spending on single-family residential spaces climbed by 19.3% year over year, from USD 400.5 billion in April 2024-2032 to USD 477.6 billion in April 2022. As of April 2022, construction spending on non-residential areas went from USD 456.9 billion to USD 503.2 billion. However, the rising mortgage rates in the US are likely to limit construction spending, which is anticipated to have an impact on product demand during the forecast period. For instance, the agreed-upon rate for a 30-year fixed-rate mortgage climbed from 3.3% in January 2022 to 5.4% in April 2022.
Download Free Sample ReportAcceptance of Technological Advancements Propelling the Market Growth
A deeper exploration of the sectoral system of production and innovation is likely to be encouraged by the advancement of innovations, the proliferation of new processes and technology, and the greater collaboration between suppliers, producers, and users in the steel industry. With increased innovation and advancement in the rebar steel industry, there will be considerable commercial opportunities for both established and emerging market players. Technological advancements and high-end applications promote rebar steel innovation. Corrosion-resistant, epoxy-coated, and earthquake-resistant applications use modern rebar steel. In addition, technologies such as microalloying, and thermos mechanical treatment are widely used during the production of rebar steel to increase the material's bendability, weldability, ductility, and corrosion resistance. Hence, the market is expected to register a high CAGR during the forecast period.
Development of Wire Rod Usage in Various Application Areas is Driving the Market
To create wire rods, a form of steel product, steel billets are typically hot rolled into a cross-section that is circular. Before the final products are made, wire rods undergo extensive further processing in secondary and tertiary processing facilities. Additionally, a range of industrial enterprises commonly utilize the finished goods as crucial parts. Thus, it is expected that increased use of wire rods in a variety of application areas will create a commercial opportunity for North America wire rod manufacturers and distributors.
Recent Development
- Buildingconstruction investment grew to USD 20.0 billion in February 2022 from USD 16.8billion in February 2024-2032, according to Statistics Canada. Thus, it isanticipated that the infrastructure segment will have the fastest CAGR in termsof revenue during the forecast period.
- Topromote economic growth and advance the construction industry, the Mexicangovernment and the private sector drafted a third infrastructure package inMarch 2022 for a total cost of USD 3.5 billion. Prior to that, the governmentunveiled two infrastructure packages in 2024-2032 totaling USD 26.4 billion, whichincluded 68 construction projects for roads, ports, railroads, and airports.
- Tobuild two manufacturing plants in Tennessee and Kentucky, the US, Ford MotorCompany agreed to invest USD 11.4 billion in September 2024-2032. Batteries for Fordand Lincoln's next electric automobiles will also be produced at thefacilities, along with electric F-Series trucks. 2025 is the anticipated startdate for these plants' output.
- Accordingto the US Census Bureau, Texas single-family home permits acquired in February2022 increased by 16.5% when compared to permits obtained in February 2024-2032. Thestate authorities predict that this tendency will persist in the coming yearsas well. Numerous building initiatives are being started in Canada with thegoals of assuring long-term economic growth, transforming to a clean economy,and enhancing social inclusion.
- TheUSD 20 trillion US economy depends on an extensive network ofinfrastructure, including highways, bridges, freight rail, ports, electricitygrids, and internet access. However, the mechanisms in place were created manyyears ago, and economists claim that delays and increasing maintenance costsare slowing down economic performance.
- Tostrengthen its manufacturing capacity and assure long-term success, the Mexicangovernment announced a plan to invest about USD 44 million in new andimproved infrastructure in 2024-2032. This investment serves as an innovativestrategy for energy projects, IT infrastructure, transit projects, and privateinvestment in many other fields. It aims to support Mexico's economic expansionand raise its level of international competitiveness. Due to its advantageouslocation, cost-effectiveness, and trained workforce, Mexico is now moreattractive than ever for manufacturing.
- Witha GDP of USD 1.3 trillion, Mexico has the second-largest economy in LatinAmerica and ranks 15th globally. Any American engineering or constructionsupply company should therefore carefully assess its infrastructure plans.
Market Segmentation
Market player
Major players operating in the North America rebar steel market are
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018– 2024-2032 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, value, and CAGR for 2018 -2022 and 2023 – 2028 |
| Report coverage | Revenue forecast, Company Share, growth factors, and trends |
| Segments covered | Type End Use Process Finishing Type Country |
| Regional scope | North America |
| Country scope | United States, Canada, Mexico |
| Key companies profiled | Gerdau S.A, Commercial Metals Company, Steel Dynamics, Inc, Schnitzer Steel Industries, Inc, Acerinox S.A, EVRAZ North America, Inc, Pacific Steel Group, ArcelorMittal, Nucor Corporation, and Ternium S.A. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy