(MENAFN- EIN Presswire)
U.S. Steel Merchant and Rebar Market
The rising government funding and investments in infrastructure to support new and existing construction initiatives drive the market growth.
Rebars are experiencing significant demand in the U.S. as they're being increasingly used in construction applications to provide crucial reinforcement and support to structures.” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, September 16, 2024 /EINPresswire / -- This study presents the analytical depiction of the U.S. steel merchant and rebar market along with the current trends and future estimations.
The U.S. steel merchant and rebar market size was valued at USD 9.85 billion in 2023, according to the latest research study by Polaris Market Research. The market is anticipated to reach USD 15.52 billion by 2032, exhibiting a CAGR of 5.2% from 2024 to 2032.
Download Free Sample PDF Copy of the Report:
/request-for-sample
Market Overview
Merchant bar steel, also known as merchant steel, is a type of carbon steel used for structural reinforcement in construction and manufacturing industries. It is produced in specific sizes and controlled chemical composition. Merchant steel is used in applications that involve welding, punching, bending, and forming. The steel type is available in a variety of cross sections, including squares, flats, U-bars, T-bars, and angles.
A rebar, also known as a reinforcing bar, is a metal bar that's used to help increase the tensile strength of concrete. Rebar is made from steel and comes with a twisted and ribbed surface that helps it bond better with concrete. It is used in a variety of applications, including concrete structural applications such as walls, pillars, and floors. The consistent and cost-effective access to raw materials ensures a reliable supply of high-quality steel products, thereby driving the U.S. steel merchant and rebar market growth.
Report Scope
.Market Size Value in 2023: USD 9.85 billion
.Revenue Forecast in 2032: USD 15.52 billion
.CAGR: 5.2% from 2024 to 2032
.Base Year: 2023
.Historical Data: 2019 to 2022
.Forecast Period: 2024 to 2032
.Report Format: PDF + Excel
Request for a Discount on this Report Before Purchase:
/request-for-discount-pricing
Key Market Players
Leading market players focus on research and development to expand their product offerings. Also, they are adopting a variety of strategic initiatives, including mergers, acquisitions, product launches, and agreements, to enhance their global reach.
The U.S. steel merchant and rebar market key players are:
.Acerinox
.CMC
.Evraz
.Gerdau S/A
.JFE Steel Corporation
.NIPPON STEEL CORPORATION
.Nucor
.Outokumpu
.Radius Recycling, Inc.
.Steel Dynamics
Growth Drivers and Opportunities
.Technological Advancements: Advances in technology have enabled the development of highly sustainable and environment-friendly steel products. Also, innovations in the manufacturing process have allowed steel producers to minimize greenhouse gas emissions across all production stages.
.Increased Imports of Rebar: The steel industry in the U.S. is emphasizing the import of high-quality raw materials and semi-finished products at competitive prices to reduce production costs and ensure a steady supply of raw materials. The increased import of rebars is propelling the U.S. steel merchant and rebar market growth.
.Government Initiatives: The U.S. government is allocating substantial funding and investment to infrastructure development. This, in turn, is having a favorable impact on the demand for merchant steel and rebars in the region.
Inquire more about this report before purchase:
/inquire-before-buying
Segmental Overview
The U.S. steel merchant and rebar market segmentation is primarily based on product and end-use.
By product analysis, the rebars segment accounted for the largest revenue share in 2023. The segment's growth is largely due to the widespread use of mild and deformed rebars in construction applications. These bars offer high strength, malleability, and versatility. Also, their cost-effectiveness and versatility make them suitable for a broad range of applications.
By end-use analysis, the infrastructure segment is anticipated to register a robust CAGR from 2024 to 2032. This is primarily due to the significant investment from the Bipartisan Infrastructure Law (BIL) that allocates substantial funding for the expansion and upgradation of the nation's infrastructure.
Browse PMR's U.S. Steel Merchant and Rebar Market Report Coverage from Different Publications:
The U.S. steel merchant and rebar industry is expected to reach USD 15.52 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period.
FAQs:
How much is the U.S. steel merchant and rebar market worth?
The market size was valued at USD 9.85 billion in 2023 and is projected to grow to USD 15.52 billion by 2032.
What is the growth rate of the U.S. steel merchant and rebar market?
The U.S. market is projected to grow at a CAGR of 5.2% from 2024 to 2032.
Which product led the U.S. steel merchant and rebar market in 2023?
The rebar segment led the market in 2023.
Which end-use had the fastest CAGR in the U.S. steel merchant and rebar market?
The infrastructure segment accounted for the fastest CAGR in U.S. steel merchant and rebar market in 2023.
Browse More Research Reports:
Enzymes Market:
Injection Molded Plastic Market:
Petrochemicals Market:
Polyurethane (Pu) Market:
Industrial Lubricants Market:
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
...
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN16092024003118003196ID1108678076