(MENAFN- EIN Presswire) Balkans TMT Steel Bar market to witnessing at a CAGR of 12.5% from 2018 to 2024 | Details Analysis By Top Key Players, Application and Region
PORTLAND, OREGON, UNITES STATE, February 28, 2024 /EINPresswire / -- A new research report says by Allied Market Research, Global Balkans TMT Steel Bar Market is set to exceed $4.06 billion by 2024, and growing at a CAGR of 12.5% from 2018 to 2024. High demand for affordable reinforcement bars, increase in use of TMT in earthquake-resistant structures, and rise in the number of construction projects drive the growth of the market. However, technological constraints regarding high grade TMT bars hinder the market growth. On the other hand, increasing inflow of investments and EU support & cooperation for production of coal & steel would create new opportunities in the market. The report offers extensive analyses of the market dynamics, top investment pockets, market size & estimations, drivers & opportunities, and competitive landscape.
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Balkans TMT Steel Bar Market report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Fe-415 segment contributed more than half of the total market share in 2017, owing to its increased usage in reinforced cement concrete (RCC) constructions, especially in corrosion- and earthquake-prone areas for its high uniform elongation. This segment is expected to maintain its lion's share by 2024. However, Fe-600 segment would register the highest CAGR of 14.1% from 2018 to 2024, owing to its ability to offer higher yield, toughness, and tensile strength in comparison to other grades. The report also analyzes Fe-500, Fe-550, and other segments.
The 12 mm & above segment contributed nearly half of the total market share in 2017 and is expected to remain dominant throughout the forecast period. This segment would grow at the fastest CAGR of 14.3% from 2018 to 2024. It is a lucrative segment owing to its extensive adoption in the construction sector in Balkans and Europe. The study also analyzes the 8-12 mm and 6-8 mm segments.
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Infrastructure application segment contributed more than half of the total market share in 2017, owing to the growing use of construction of bridges, flyovers, dams, underground structure, high-rise buildings, concrete roads, and power plant. This segment is expected to remain dominant through 2024. However, commercial application segment would grow at the highest CAGR of 14.8% from 2018 to 2024, owing to the requirement for super durability, resistance to corrosion, and weldability, which are offered by TMT steel bars. The residential application segment would witness gradual growth rate during the forecast period.
The leading market players analyzed in the study include ArcelorMittal Zenica, Essar Steel, Balkan Steel Engineering Ltd., HUS Ltd., HBIS Group, MMD, Metalopromet d.o.o. Kula, SIJ Group, SIDERAL S.H.P.K., and TATA Steel. These players have implemented various strategies including collaborations, mergers & acquisition, partnerships, joint ventures, expansions, and others to strengthen their position in the industry.
BY APPLICATION
- Residential
- Commercial
- Infrastructure
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Key Benefits for Balkans TMT Steel Bar Market:
Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future scenario of the market from 2018 to 2024 to understand the prevailing opportunities and potential investment pockets.
Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of key players along with their key strategic developments are enlisted in the report.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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