Market Segmentation
The steel rebar market in the U.S. is expected to witness significant growth over the coming years on account of increasing investment by governments and private players in infrastructure & construction industries to lift the economies from the negative impact of the COVID-19 pandemic. Rebars are used in the construction of various infrastructures such as highways, bridges, water systems, warehouses, and airports. Thus, long-term investment in infrastructure projects is projected to boost the demand for steel rebars in the coming years. For instance, in November 2021, the president of the U.S. signed the Infrastructure Investment and Jobs Act, which is likely to fuse nearly USD 1.2 trillion of investment in the infrastructure industry, which is anticipated to benefit the steel rebar demand over the coming years. The investment is also likely to support the state-wise construction spending. For instance, out of this investment Texas is likely to get nearly USD 577 million for bridge replacement program from 2022 to 2026.
FRP is widely used owing to properties such as lightweight, high strength, high corrosion resistance, and superior mechanical & thermal resistance. Due to this, FRP bars are promising substitutes for steel rebars in reinforced concrete structures. Corrosion is one of the major issues with steel rebars, which impacts the life expectancy of reinforced concrete structures. Sometimes, repair costs are double the construction cost. FRP rebars can replace conventional steel rebar owing to factors such as higher lifespan and increasing metal processing costs. As per the FRP manufacturer - Pultron Composites, the Sydney North Side Storage Tunnel was projected to have a lifespan of 60 years in harsh conditions using steel rebars. However, after redesigning with FRP rebars, its lifespan increased to 100-110 years. Steel rebars have few indispensable advantages over FRP rebars, hence they cannot fully replace steel rebars. FRP bars cannot be bent and have low fire resistance. Steel rebar is the first choice in new construction due to its lower cost compared to FRP rebars. Technological advancement and increasing investment in the advancement of steel rebars are expected to improve their corrosion resistance and life expectancy in the coming years.
The steel industry is energy-intensive and consumes a large amount of energy. In the U.S., steel production reached nearly 117.8 million metric tons in 2021 and is projected to rise in the coming years. This is anticipated to generate more demand for energy. Energy costs account for 20%-40% of the entire steel manufacturing cost. Increasing energy prices are anticipated to impact the manufacturing cost. For instance, in December 2021, energy prices increased by 29% in the U.S. compared to the previous year. Thus, enhancement in energy efficiency is expected to reduce the overall production costs and improve competitiveness. Major steel manufacturers are shifting their focus on improving energy efficiency by using a scrap-based method for production. Energy intensity in steel manufacturing is declining, which is expected to have a positive impact on the market growth over the forecast period. Declining energy intensity is a sign of reduced energy prices.
This section will provide insights into the contents included in this U.S. steel rebar market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance