Australia Steel Rebar Market Size, Share & Trends Analysis Report By Application (Construction, Infrastructure, Industrial), By Region (New South Wales, Victoria, Queensland), And Segment Forecasts, 2022 - 2030

Australia Steel Rebar Market Size, Share & Trends Analysis Report By Application (Construction, Infrastructure, Industrial), By Region (New South Wales, Victoria, Queensland), And Segment Forecasts, 2022 - 2030

Australia Steel Rebar Market Growth & Trends

The Australia steel rebar market size is expected to reach USD 1.79 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.7% from 2022 to 2030. Growth in non-residential construction is anticipated to push the rebar market demand in Australia.

Australia’s commercial construction has shown growth in the recent past mainly due to the construction spread in Tasmania, Western Australia, Southern Australia, and Queensland. New investment in hospital work, schools, office construction, warehouses, hotels, and leisure projects along with investment in high-rise buildings is projected to benefit the market growth in the short term.

Foreign direct investment (FDI) in Australia’s commercial sector is projected to remain a key long-term factor for industry growth. For instance, as reported by the Foreign Investment Review Board, Australia, FDI investment in commercial real estate has increased from USD 1.3 billion in the first quarter of 2020 to USD 2.4 billion in the first quarter of 2021. As per the same report, Queensland, Victoria, and New South Wales were the key areas that attracted new investments in 2019-20.

In the 2021 budget, the Australian government allocated substantial funds for infrastructure, which is projected to benefit the market growth over the coming years. As per the budget, nearly USD 15.2 billion is expected to be spent over the next 10 years for infrastructure expansion and related activities. States including Victoria, South Australia, and New South Wales additionally secured USD 9.5 billion of project investment for infrastructure expansion.

The market is expected to remain stable over 2022, as new owner and investor-occupier housing loan commitments remain higher from both 2020 and pre-pandemic levels. New owner-occupier housing loan commitments increased by 19.6% in 2021 from the previous year. Also, historically low loan rates are projected to remain stable in the near future, further driving housing credit demand. The fear of missing out the current reduced loan rates is anticipated to provide a boost to the industry over the short term.

The competitive environment in the country is largely dominated by the importers owing to a limited domestic production of rebar. China, Indonesia, and Thailand are among the major trade partners for the rebar commodity in Australia.

Australia Steel Rebar Market Report Highlights

• In terms of application, infrastructure is projected to remain the fastest growing segment with a CAGR of 3.1% from 2022 to 2030, in terms of volume. Strong infrastructure pipeline along with investments for the 2032 Olympic games in Brisbane is likely to remain significant contributor to the market growth
• Construction was the largest segment with a revenue share of nearly 50% in 2021. Low and stable credit interest rates are anticipated to provide boost to the expansion of the housing construction sector
• Western Australia is projected to advance at a lucrative growth rate during the forecast period. Funding from Western Australia government for infrastructure projects such as upgrades, road infrastructure, and maintenance is likely to act as an enabler for the market
• The market is consolidated in nature, with Infrabuild being the sole producer of steel rebar in Australia. Imports from other countries such as China, Indonesia, and Thailand has further intensified competition in the Australia steel rebar industry