Steel Rebar Market Analysis

Description

According to a recent analysis by Wise Guy Reports, the global market for steel rebar is anticipated to reach USD 272.49 billion by 2026. Throughout the projected period, the market is anticipated to expand at a compound annual growth rate (CAGR) of 4.53%. The market is propelled by the high demand for steel in the building industry, the expanding use of steel in infrastructure projects, and the rising usage of steel in both residential and commercial construction. Over the forecast period, the residential construction segment is anticipated to experience the highest CAGR. In the upcoming years, rising urbanization and population increase are anticipated to be the segment's growth drivers.

Rapid infrastructure growth and the establishment of new industrial facilities in emerging economies are driving up product demand. The residential sector is predicted to have a profitable future due to reasons like increasing per capita income, growing populations, and generally better living conditions. As a result, several nations around the world are putting up comprehensive housing and smart city projects in an effort to assist the growth of the residential sector. Rapid urbanization in developing economies is creating new opportunities for economic growth and development.

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