U.S. Steel Merchant And Rebar Market Size, Share & Trends Analysis Report By Product (Merchant Bar, Rebar), By End-use (Construction, Infrastructure, Industrial), And Segment Forecasts, 2024 - 2030

U.S. Steel Merchant And Rebar Market Growth & Trends

The U.S. steel merchant and rebar market size is anticipated to reach USD 14.29 billion by 2030 and is anticipated to expand at a CAGR of 5.4% during the forecast period, according to a new report by Grand View Research, Inc. The gradual recovery of construction sector is projected to provide a push to the market. As per Grand View Research, the construction sector in the U.S. is expected to observe moderate growth in 2024.

In the recent past, the U.S. economy has faced several different issues, including rising energy prices, labor shortages, high mortgage rates, rising inflation, and geopolitical pressure, among others. Despite this, the country’s economy remained recession-free mainly due to private and public funding for infrastructure and manufacturing and a resilient consumer base.

As per recent macroeconomic projections by the Federal Reserve, inflation is expected to observe a gradual reduction, with an average of 2.5% in 2024 and 2.2% in 2025. This is likely to provide more opportunities in the construction sector. As reported by the U.S. Bureau of Labor Statistics, labor challenges are likely to continue over the long term. Owing to current labor shortage and people leaving industry, overall growth in labor force is anticipated to remain sluggish over coming years.

As reported by the White House, overall federal investment spending in the U.S. was USD 1,178 billion in 2022. However, it declined in 2023 to USD 840 billion. As per the proposed budget, investment spending is expected to increase by 2.4% in 2024. This is projected to benefit new infrastructure projects such as bridges, highways, ports, communication, and transportation infrastructure. This is likely to provide a push to U.S. steel merchants and the rebar industry over the coming years.

U.S. Steel Merchant And Rebar Market Report Highlights

• By end-use, the construction segment dominated with 52.4% of the revenue share in 2023, owing to low to moderate construction activities in residential and non-residential segments
• The infrastructure segment is expected to grow at the fastest CAGR over the forecast period
• By product, rebar held the largest revenue share in 2023. Infrastructure spending on bridges and highways is expected to remain a positive factor for the market
• Stability in the construction sector in second half of 2024 is likely to drive demand for rebar and related building materials. Public and private investments are expected to rise in 2024 compared with 2023
• In December 2023, Nippon Steel Corporation announced its plans to acquire U.S. Steel. This is expected to benefit both companies, helping them expand their geographic footprint and reach more customers in near future

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