Steel Rebar Market Is The Backbone Of Infrastructure And Industrial Growth - Rebar Cost
Rebar Cost
Steel rebars, also called ‘Reinforcing’ bars, help to strengthen concrete structures. They are used to construct skyscrapers, bridges, factories, oil pipelines and more. Due to urbanisation and industries doing business globally, the demand for rebars is increasing.
The steel rebar market was estimated to be USD 224.5 billion in 2022 and is expected to reach USD 317.4 billion by 2030. Why is the demand for steel rebars increasing? The market is growing due to two main reasons: Industrial growth and urbanisation.
Industries like manufacturing, oil and gas and energy are seeing significant growth. These industries need steel rebars for their projects like factory framework, offshore rigs, pipeline construction and more. The rebars used in the oil and gas industry need to withstand extreme pressure and corrosive environments. The rebars are used in manufacturing plants for...