Global Steel Rebar Market Size 2024, Forecast To 2033

The steel rebar market has experienced strong growth, escalating from $245.46 billion in 2023 to $260.97 billion in 2024, representing a compound annual growth rate (CAGR) of 6.3%. The robust growth in the historical period is attributed to factors such as infrastructure development and construction projects, population growth and urbanization, government investments in construction, resilience and strength requirements in construction, and global economic growth and industrialization. Foreseeing strong growth in the next few years, the market is projected to reach $327.85 billion in 2028 at a CAGR of 5.9%. The expected expansion in the forecast period is linked to factors such as renewable energy infrastructure projects, smart cities and sustainable construction practices, an increasing demand for high-strength rebar, global recovery from the COVID-19 pandemic, and the expansion of transportation infrastructure. Key trends during this forecast period include innovations in sustainable steel production, technological advancements in steel manufacturing, the adoption of green and sustainable practices, the use of microalloying technology for enhanced performance, market expansion in developing economies, and the adherence to stringent quality standards and regulatory compliance.