U.S. Steel Merchant and Rebar Market Size, Share, Trends, Industry Analysis Report: By Product (Rebars, Merchant Bars), and By End-Use – Market Forecast, 2024 – 2032

U.S. Steel Merchant and Rebar Market Size, Share, Trends, Industry Analysis Report: By Product (Rebars, Merchant Bars), and By End-Use – Market Forecast, 2024 – 2032

The U.S. steel merchant and rebar market size is expected to reach USD 15.52 billion by 2032, according to a new study by Polaris Market Research. The report “U.S. Steel Merchant and Rebar Market Share, Size, Trends, Industry Analysis Report: By Product (Rebars, Merchant Bars), and By End-Use – Market Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing infrastructure investments in the country propel the rise in the U.S. steel merchant and rebar market. The U.S. government and private sectors are making substantial investments in improving and extending infrastructure, including roads, bridges, airports, and public buildings. This expenditure has generated a need for vital construction materials such as steel and rebar, as they are essential for reinforcing and constructing long-lasting, high-quality infrastructure. Consequently, the inflow of government funding and infrastructure investments to support ongoing projects and launch new construction initiatives is fueling the U.S. steel merchant and rebar market.

Furthermore, the U.S. steel merchant and rebar market is being driven by the availability of raw materials. The essential raw materials, including iron ore, coal, and scrap metal, are required for the production of steel and rebar. For instance, in 2021, Michigan and Minnesota exported 98% of the iron ore, representing a 23% increase from 2021. This increase in the production of iron ore has contributed to a stable and efficient supply chain for steel manufacturing. The consistent and cost-effective access to raw materials is lowering production costs and ensuring a dependable supply of high-quality steel products, thus propelling the growth of the U.S. steel merchant and rebar market.

The technological advancements in steel manufacturing further propel the U.S. steel merchant and rebar market. Innovations in steel manufacturing, such as automated production processes, advanced metallurgy, and the development of high-strength, corrosion-resistant rebar, have significantly improved product quality and efficiency. These advancements enable steel producers to meet the growing demand for durable and cost-effective construction materials, thereby driving market growth.

The steel industry in the United States is acquiring top-quality raw materials and semi-finished products at competitive prices with the intention of reducing production costs and ensuring a consistent supply of necessary inputs. These import operations are promoting economic expansion within the domestic steel industry and also encouraging innovation as businesses strive to meet various global standards and requirements. Additionally, trade policies and agreements that facilitate smoother import and export procedures support the market by promoting cross-border commerce. As a result, the import and export operations strengthen the competitiveness and promote the growth of the U.S. steel merchant and rebar market.

U.S. Steel Merchant and Rebar Market Report Highlights

• In 2023, the rebars segment held the dominant revenue share, primarily due to the extensive utilization of mild and deformed rebars in construction applications. These rebars play a pivotal role in providing reinforcement and structural support to various types of structures.
• The infrastructure sector is anticipated to experience significant growth in the market, driven by the substantial investment from the Bipartisan Infrastructure Law (BIL). The BIL has dedicated significant funds for the enhancement and expansion of the country's infrastructure.
• The U.S. steel merchant and rebar market key players include Acerinox, CMC, Evraz, Gerdau S/A, JFE Steel Corporation, NIPPON STEEL CORPORATION, Nucor, Outokumpu, Radius Recycling, Inc., and Steel Dynamics.

Polaris Market Research has segmented the U.S. steel merchant and rebar market report based on product and end-use:

U.S. Steel Merchant and Rebar, Product Outlook (Revenue - USD Billion, Volume – Kiloton, 2019 - 2032)

• Rebars
• Merchant Bars

Angles

Beams

Channels

Flats

Rounds

U.S. Steel Merchant and Rebar, End-Use Outlook (Revenue - USD Billion, Volume – Kiloton, 2019 - 2032)

• Construction
• Infrastructure
• Industrial