Steel Rebar Market Type | Key Drivers And Trends Analysis Revealing Leading Players

enero 7, 2022 7:06, por Ram Vasekar - 0no comments yet

According to the MRFR analysis, the Global Steel Rebar Market is projected to reach a market value of over USD 290 Billion by the end of 2030 at a CAGR of over 4%.

Rebars, also known as reinforcement steel or reinforcing steel, are steel bars or a mesh of steel wires used in reinforced concrete and masonry structures to strengthen and hold the concrete in tension as well as to improve the quality of the bond with the concrete. The tensile property provided by the steel reinforcement helps to prevent and minimize cracks in concrete under tension loads. The coefficient of thermal expansion of steel reinforcement and concrete are similar and undergo similar expansions during temperature changes, which ensures that the concrete is subjected to minimal stress during temperature variations.

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The prominent factor favoring the growth of the global market is the increasing demand for steel rebars in the building & construction industry, especially in residential construction and infrastructure projects. As per MRFR analysis, the expenditure in the global construction industry was USD 11.2 trillion in 2018 which is rising significantly year-on-year and is expected to reach USD 13.4 trillion by the end of 2024. The expanding construction sector in the emerging economies of Asia-Pacific is likely to drive the market growth during the forecast period. The growing investments in infrastructural development in Southeast Asian economies such as Thailand, Indonesia, Malaysia, Myanmar, Singapore, and Vietnam are likely to favor the global market growth. For instance, the government of Thailand has announced an investment of approximately USD 26 billion for its infrastructure development projects such as railways, commercial buildings, airports, public roads and highways, and shipping ports.

However, the availability of effective and low-cost alternatives to steel rebars in the residential construction applications is expected to be a key factor hampering the market growth in the years to follow.

COVID 19 Analysis

The arrival of the novel coronavirus pandemic has played its role in hampering the growth scenario for the steel rebar market and trends. The global market has been witnessing a huge backlash in terms of marketing, production, functioning, and manufacturing that are causing major disruptions in the demand and supply chain mechanism of the global market during the forecast period that will be ending in 2028. The global market has been witnessing a shortage of skilled labor, raw material, resources, and much more that might have a major challenge for the market to grow and dwell based on the predictions that have been laid by the business analysts for the forecast period of 2021-2028.

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The steel rebar market players are collaborating with the key players that are functional in the market and have positive attributes in store for the market operations and growth during the period that will be ending in 2028. The rising investments are putting the production and manufacturing units in a better position for bulk products that will help the steel rebar market to enhance at a global and elaborated market scale. 

Regulatory Analysis and Trade Analysis

The American Society for Testing and Materials (ASTM) has created a standard identification ruling that all rebars must comply with:

• The number must identify the bar size.

• The symbol for the type of steel must be noted. For instance, "N" means the bar was rolled from a new billet, "A" designates rolled axle steel, and "W" stands for weldable steel.

• The rebar grade identification must be cited, the grade indicates the rebar yield strength.

• A symbol identifying the manufacturer that rolled the bar must be included

Grades of Rebar in Different Codes

Source: ASTM International, The Concrete Centre, The Indian Concrete Journal, and MRFR Analysis

SEGMENTATION

By End-Use

• Infrastructure: The growth of the infrastructure segment is primarily driven by the increasing investments by the governments of developing economies across the globe. For instance, the Smart City project, the Dubai Expo 2020, the Lusail City project, and Qatar’s FIFA World Cup 2022 undertaken by the Middle East governments; since 2018, the National Development and Reform Commission (NDRC) of China has approved 27 infrastructure projects with a value of around USD 220 billion. This segment accounted for a share of over 35% in 2019 and is expected to register the highest CAGR during the forecast period.

• Residential Construction: The residential construction sector is the major end-use segment for the steel rebar market, with a share of around 45% in 2019. The rising residential and commercial construction, especially in India and China, due to the growing economies and population, the increasing government and private sector investments, the rising per-capita incomes, growing consumer spending, and the improving standard of living are together expected to boost the demand for steel rebars in the region and thus favor the growth of the segment in the years to follow.
• Commercial Construction: The commercial construction segment is expected to witness healthy growth, particularly in the developing economies of Asia-Pacific, Latin America, and the Middle East & Africa. Widespread use of steel rebars in non-residential construction, such as high-rise buildings, warehouses, industrial construction, shopping malls is expected to favor the growth of the segment in the years to follow.

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By Region

• North America: The growth of the residential construction sector and the ongoing infrastructure development projects, primarily in the US, is the primary driver for regional market growth.

• Europe: Western European countries, including Germany, France, and Spain, are the major contributors to the regional market growth. The established building & construction industry is expected to support the growth of the regional market during the forecast period.

• Asia-Pacific: Asia-Pacific is the largest and fastest-growing regional market for steel rebars, with China and India being the leading country-level markets.

• Latin America: The booming construction sector in Mexico and Brazil is likely to fuel the demand for steel rebars in Latin America in the coming years.

• Middle East & Africa: The high growth potential of the paints & coatings industry and the expanding construction sector in the GCC countries is expected to propel the regional market growth during the forecast period.
  
  

By Type

• Mild: The mild steel rebars have a plain and round-shaped surface and they are available in various sizes from 6 mm to 50 mm. They are used in concrete for special purposes, such as dowels at expansion joints, for contraction joints in roads and runways, and for column spirals. They are easy to cut and bend without damage. The residential and commercial construction sectors are the major consumers of mild steel rebars. This segment held the second-largest share of the market, around 30%, in 2019.

• Deformed: Deformed steel rebars have higher tensile properties as compared to other steel rebars. These rebars have ribs, lugs, and indentations on their surface, which reduces slippage and allows for superior bonding between the concrete and the rebar. These rebars offer better ductility and malleability, high yield strength and toughness, high bonding strength, earthquake resistance, excellent corrosion resistance, high thermal resistance, and are economical and safe for use. In construction, they are extensively and majorly used for reinforcement purposes. These bars are used in structural buildings like bridges, dams, road construction, and other heavy structures as well as in residential construction projects. The deformed segment held the largest share of 55% in the global market in 2019.

• Others: The others segment includes European rebars, epoxy-coated rebars, and stainless-steel rebars. The majority of these rebars are costly and are used in specific applications in the construction industry.

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Engine Oil Additive Industry Outlook 2022-2030 Development Status, Trending Technologies, Business Strategies And Scope

enero 7, 2022 6:41, por Ram Vasekar - 0no comments yet

Market Synopsis

According to the MRFR analysis, the global Engine Oil Additives Market size was valued at around USD 9.5 billion in 2019 and is expected to reach around USD 11 billion by the end of 2030 at a CAGR of 3.5%.

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Engine oil additives are chemical compounds that are used to enhance the performance of engine oils. Additives are selected based on their ability to perform specific functions in combination with other additives. They are formulated for use with a specific base oil and for a specified end-use application. The major functional additive types are anti-oxidant, dispersants, detergents, anti-wear agents, viscosity modifiers, demulsifiers, and extreme-pressure additives.

High demand from the automotive industry and rising industrialization globally are factors that are expected to propel the growth of the global engine oil additives market. Furthermore, the advancement in engine oil additives and the development of various additives as per end-use industry is further fueling the growth of the global market. However, the high cost of raw materials and stringent government regulations hamper the growth of the market.

Competitive Landscape

The global Engine Oil Additives Market is fragmented with numerous global, regional, and local players. Manufacturers focus on developing advanced engine oil additives made from high-quality materials and expanding their production capacity to maintain supply-demand balance. Furthermore, producers increasingly focus on a strategic alliance with stake holders to gain a maximum share of the global market. Moreover, due to the coronavirus outbreak globally, the automotive industry witnessed a decline in demand. Furthermore, a steep fall in crude oil prices during 2020 had a significant impact on base oil prices and single additives.

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of TheReport

2.1 Market Definition

2.2 Scope Of The Study

2.3 List Of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Factor Analysis

4.1 Supply Chain Analysis

4.1.1 Raw Form Suppliers

4.1.2 Manufacturers/Service Providersof Engine Oil Additive

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce Merchants

4.1.4 End-Use Industries

4.2 Porter’s Five Forces Model

4.2.1 Threat Of New Entrants

4.2.2 Intensity Of Competitive Rivalry

4.2.3 Threat Of Substitutes

4.2.4 Bargaining Power Of Suppliers

4.2.5 Bargaining Power Of Buyers

4.3 Pricing Analysis

Continue...

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Segmentation

By Region

• North America: Market growth is driven by the presence of large-scale manufacturers in the region and established end-use industries.
• Europe: Stringent government regulation and increased focus on R&D to develop high-quality engine oil additives is driving the market in the region.
• Asia-Pacific: This is the largest and fastest-growing regional market due to rising industrialization and growing demand for automotive engine oils.
• Latin America: The growing demand from major end-use industriesis fuelingthe market growth in the region. 
• Middle East & Africa: The rising awareness and high demand from the automotive sector and strict environmental regulations are fueling the demand for engine oil additivesin the region.

By Enduser

• This segment is further segmented into automotive, industrial, and others.
• The automotive segmentholds the largest share of the global engine oil additivesmarket owing to the increased demand for engine oil additives to protect engine oils, growing demand for specific end-use demand, and rapid growth in the automotive industry.
• The industrial segmentis expected to witness the fastest growth in the global engine oil additives market owing to the rising industrialization in developing economies of Asia-Pacific.
• The others segment includes marine, aviation, railway, etc.

By Type

• This segment is further segmented into anti-oxidants, detergents, corrosion inhibitors, dispersants, friction modifiers,and others.
• The anti-oxidantssegment accounts for the largest market and is expected to witness notable growth during the forecast period in terms of volume. This growth is attributed to the increased demand for anti-oxidant additives from the automotive industry.
• The detergents segmentis expected to witness healthy growth during the forecast period. It is widely used as engine oil additives for neutralizing strong acids present in the lubricant and wide usage in automotive oils.
• Corrosion inhibitors is projected to be the fastest-growing segment during the assessment period. This is due to the growing demand for durable and efficient engine oils.
• Dispersants is expected to witness moderate growth due to the growing demand for dispersing agent in engine oils.
• Friction modifier has witnessed significant growth owing to an increase in demand for fuel-efficient engine oils.
• The others segment includes anti-wear additives, pour point depressants, viscosity index improvers, anti-foaming agents, etc.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact:

Market Research Future

Phone:

+1 628 258 0071(US) 

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

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