Reinforcement steel rebar market is recovering

Reinforcement steel rebar market is recovering

During 2014-2020, the compound annual growth rate of the global steel rebar market is about 7%. Looking ahead, the global steel market will continue to grow moderately in the next five years.

Reinforcement or reinforcement refers to the steel mesh or reinforcement used as a tensioning device to strengthen and support concrete and other masonry structures. It is usually made of carbon steel, wire, fabric, sheet metal, epoxy resin, stainless steel, as well as galvanized and glass fiber reinforced polymers, iron, manganese, carbon, sulfur and phosphorus.

Circular, square, ribbed, tensile and ribbed are some commonly used reinforcing bars. They are used as supports to enhance structural design to minimize cracking and temperature induced stresses, and to support other reinforcement to distribute the total load equally. They have various advantages, such as high durability, tensile strength, heat resistance and ductility.

Over the years, the remarkable growth of the construction industry has been one of the key factors in creating a good market prospect. In addition, the extensive development of infrastructure, especially in developing countries, is stimulating market growth. Steel bars loop wire tie machine and steel rebar stirrup bender machine are widely used in modern skyscrapers, roads, highways, bridges, sewage tunnels, airports and stadiums.

In line with this, the demand for deformed steel reinforcement is growing, which has contributed to the market growth. It is used as prestressed reinforcement in construction activities to minimize slippage and improve bond with concrete beams and columns. In addition, other product innovations, such as the development of thermomechanical technology, which helps to improve the quality of reinforcement, are also other factors contributing to the growth. This enables product manufacturers to create variants with superior tensile strength, ductility and corrosion resistance.

Other factors, including rapid industrialization and growing demand for products from the non resident sector, such as oil and gas and manufacturing, are expected to further drive the market.

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