The TMT Steel Bar Market is being driven by Increasing demand for steel
The TMT Steel Bar Market is expected to grow at a CAGR of 4.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 91 billion. The TMT steel bar market has witnessed a notable trend towards seismic resistance, particularly in regions susceptible to earthquakes and seismic activities. Countries like Indonesia, Japan, and Nepal, situated in seismically active areas, prioritize seismic resilience in construction due to the potential for significant structural damage and loss of life and property. TMT steel bars, recognized for their superior tensile strength and ductility, are increasingly preferred for applications demanding seismic force resistance. This growing awareness of the importance of using robust construction materials is a crucial response to the potential devastation caused by earthquakes.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
207 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
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Market growth 2025-2029 |
USD 91 billion |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
4.1 |
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Key countries |
China, Japan, Germany, US, India, UK, South Korea, France, Canada, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The TMT Steel Bar Market caters to various sectors, including infrastructure, residential, and commercial, with applications in concrete structures for buildings and industrial structures. Torsional bars and reinforcement bars in sizes like 68 mm, 812 mm, and 12 mm are used. Mild steel bars undergo heat treatment for improved mechanical qualities such as ductility, fatigue resistance, earthquake resistance, and corrosion resistance. The Construction sector relies on these super-strong structures for infrastructure development, including hydropower plants and other heavy industry projects. Rapid cooling techniques like water jet technology ensure industry-standard bars meet loads and resist various stresses.
The TMT steel bar market is a significant segment of the larger global construction materials industry, which encompasses manufacturers and providers of various materials such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and metals like TMT steel bars. Factors fueling the expansion of this market include the surge in infrastructure development and the building and construction industry. Notably, the global building and construction sector has experienced robust growth in recent years, leading to increased demand for TMT steel bars in applications like torsional bars, low-cost reinforcement bars, and heavy industry. Key TMT steel bar product offerings include those with yield stresses of FE-415, FE-500, FE-550, and FE-600, used in residential, commercial, and infrastructure projects. The demand for Fe415 rods and Fe250 rods, specifically, is driven by their applicability in various construction applications, such as 68 mm, 812 mm, and 12 mm diameters. Overall, the upswing in infrastructure development and the building and construction industry is expected to continue propelling the growth of the TMT steel bar market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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