Authored By: Sarah
11 Jul 2024

 Tmt Steel Bar Market Size to grow by USD 85.9 billion between 2024-2028

According to a research report “ Tmt Steel Bar Market” by End-user (Residential, Commercial, Infrastructure) Grade Type (Fe 415, Fe 500 and 500D, Fe 550 and 550D, Fe 600, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 85.9 billion, at a CAGR of  4.26% during the forecast period. In the global economic landscape, steel plays a pivotal role as a key commodity, fueling growth across various sectors, including automotive, energy, construction, and industrial machinery. The burgeoning global population and economic development fuel the demand for steel worldwide. Notably, the construction industry is a significant driver of the steel market's growth, with modern infrastructure and buildings increasingly adopting TMT steel bars due to their superior attributes, such as extended service life, exceptional workability, and robust fatigue strength. China, with its extensive infrastructural developments, dominates the global steel production landscape.

Browse market data tables, figures, and in-depth TOC on “Tmt Steel Bar Market” by End-user (Residential, Commercial, Infrastructure) Grade Type (Fe 415, Fe 500 and 500D, Fe 550 and 550D, Fe 600, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By End-user, the Residential segment is projected to dominate the market size in 2024

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By Grade Type, Fe 415  segment is expected to hold the largest market size for the year 2024

In the realm of residential construction, TMT (Thermo-Mechanically Treated) steel bars hold a significant advantage due to their superior properties and robustness. These bars are extensively utilized in various types of structures, including residential buildings, to ensure structural integrity and safety. TMT bars are renowned for their high tensile strength and exceptional ductility, enabling them to endure the stresses and loads that residential buildings encounter throughout their lifespan. Their superior strength-to-weight ratio facilitates the construction of safer and more dependable structures. Moreover, TMT bars possess excellent elongation properties, allowing them to deform without fracturing during seismic events. This crucial property is essential for maintaining a building's structural integrity during earthquakes and averting catastrophic collapses.

APAC is forecasted to hold the largest market size by region in 2024

The TMT steel bar market witnesses significant growth due to its widespread usage in infrastructure development and construction projects. This segment's demand is driven by the increasing focus on infrastructure development and urbanization, particularly in emerging economies. TMT bars offer superior tensile strength and durability, making them an ideal choice for structural applications. Market players are investing in advanced manufacturing technologies to enhance production efficiency and meet the growing demand.

The Tmt Steel Bar Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Agni Steels Private Ltd.
  • ArcelorMittal
  • Atlas Group
  • Bansal Group
  • Kamdhenu Ltd.
  • MMD
  • MS Life Steel
  • MSP Steel and Power Ltd.
  • O. P. Jindal Group
  • Primegold International Ltd.
  • Radha Smelters Pvt. Ltd.
  • Shyam Metallics
  • Spark Electrodes Pvt. Ltd.
  • SRMB SRIJAN Pvt. Ltd.
  • Stecol International Pvt. Ltd.
  • Tata Steel
  • Ultra TMT
.

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Research Analysis Overview

The TMT (Thermo-Mechanically Treated) Steel Bar Market caters to various industrial structures, including hydropower plants and buildings, with a focus on providing superior mechanical qualities. These bars are industry standard for earthquake-resistant and corrosion-resistant structures. TMT steel bars are known for their ductile and super-strong structure, making them ideal for use in heavy industry, infrastructure applications, and commercial and residential construction. Manufactured using advanced water jet technology, these bars undergo rapid cooling and heat treatment processes to enhance their fatigue-resistant and torsional properties. Mild steel bars are available in various sizes, such as 12 mm, 812 mm, and 68 mm, to cater to diverse construction needs. TMT steel bars are essential for constructing earthquake-resistant and corrosion-resistant structures, making them indispensable in the construction sector. Their mechanical qualities make them suitable for use in concrete structures, where they act as reinforcement bars, ensuring the safety and durability of buildings and other infrastructural developments. In summary, the TMT Steel Bar Market plays a crucial role in providing high-quality reinforcement bars for various industrial structures, ensuring their strength, durability, and resistance to loads, making them a preferred choice for low-cost reinforcement bars in heavy industry and infrastructure applications.

Market Research Overview

The TMT (Thermo-Mechanically Treated) steel bar market is a significant segment of the construction industry, known for its bulky yet robust nature. TMT bars offer superior fire safety, high heat resistance, and improved elongation value, making them ideal for non-deforming construction in urban regions. These bars are available in various diameters, including 12 mm, 68 mm, and 812 mm, catering to the diverse needs of infrastructure applications in commercial and residential buildings. TMT bars are heat rolled to enhance their mechanical qualities, such as tensile strength, elongation property, and yield strengths. The manufacturing process involves rapid cooling and heat treatment, resulting in a super-strong structure with greater ductility and durability. These bars are also corrosion-resistant, earthquake-resistant, and fatigue-resistant, making them essential for modern architecture in seismic zones and regions prone to extreme weather patterns. The construction process benefits from TMT bars' weldability, load-bearing capacity, and resistance to cracks and surface defects. The industry standard includes grades such as FE-600, FE-550, FE-500, FE-415, and Fe250 rods, suitable for various infrastructure applications, including highways, flyovers, office buildings, shopping malls, hotels, commercial projects, foundations, slabs, beams, columns, large-scale infrastructure projects, industrial complexes, and even dams and bridges. Producers employ advanced techniques like water jet technology to ensure consistent quality and adhere to industry publications' sustainability practices and environmental worries. The TMT steel bar market's growth is driven by the increasing demand for sustainable production techniques and the need for carbon footprint reduction in the construction sector.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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