The British steel industry is awaiting detailed information on the timeline for the removal of US tariffs, as outlined in a recent trade agreement promising to reduce duties from 25% to 0%.

British PM Keir Starmer is optimistic about reducing U.S. tariffs on British steel imports to zero, following a bilateral agreement with the U.S. to avoid a potential increase to 50% by July.

The basic steel processing industry revenue is set to climb at a compound annual rate of 2.4% over the five years through 2025-26 to just over £1.2 billion, including a 2.7% hike in 2025-26. Industry revenue has been highly volatile in recent years, mostly as a result of volatiles steel prices. Supply chain disruptions and soaring energy costs (resulting from the Russia-Ukraine conflict) caused steel prices to skyrocket in 2022-23 balloning production costs for basic steel processing companies. While this inflated revenue as companies passed on the cost increases, sales volumes remained subdued as the same challenging market conditions ate away at downstream buyers’ demand for cold-formed steel products. Due to the steep steel prices and inflated energy costs during 2022-23 and part of 2023-24, basic steel processing companies have struggled to remain profitable despite raising their prices. As steel prices have significantly eased in 2025-26, profitability is set to see some improvement, reaching 6.4% in 2025-26. However, price volatility will continue to permeate the industry. Particularly due to the US’s new “Liberation Day” tariffs on steel and aluminium products. While the UK has reached a trade agreement with the US on 8 May 2025 to exempt British steel and aluminium products, the tariffs on other countries are set to spark trade diversions, supply chain restructuring and retaliatory tariffs in other markets, impacting global steel prices and industry revenue. Still, strong investment from British car manufacturers is set to support domestic demand for cold-formed steel products in 2025-26 and the coming years, shielding basic steel processing companies from the volatility of export markets. Over the five years through 2030-31, industry revenue is forecast to climb at a compound annual rate of 1.5% to £1.3 billion. Growth in vehicle and aerospace manufacturing output is set to support demand for cold-formed steel products. Oversupply of cheap steel on the global market will remain the most significant threat to UK cold-formed steel products manufacturers. However, UK steel import tariffs are set to continue protecting national steel processors until 9 February 2028 when the anti-dumping measure is set to expire. However, this will also keep input cost high for companies that aren’t vertically integrated or have their steel furnaces in other countries, like Voestalpine, limiting industry profitability.

The US and UK have signed a trade agreement reducing tariffs on British auto and aerospace imports, promising economic benefits while steel tariff discussions continue.

Employment in the U.S. iron and steel industry has seen a continuous decline over the past three years, but employment figures have shown some signs of recovery of late. The number of employees working in blast furnaces and steel mills increased moderately to 83,000 in 2019.

 The importance of being an importer    

Nucor and U.S. Steel Corporation are the largest producers of steel in the United States. At the end of 2018, these two companies had some 55,000 employees on their payrolls, some 17,000 of which were employed by U.S. Steel in the United States. Nucor employs most of its workforce in the U.S., although the company has some facilities in Canada, Latin America, Europe, and Dubai. Iron and steel workers in the United States process large quantities of iron, which is the main material used in the manufacture of steel. The main producers of usable iron ore include Australia and Brazil. The U.S. has to rely on iron imports due to the low level of domestic production. As a result, the United States imported almost 31 million metric tons of steel in 2018.

Over the five years through 2024-25, iron and steel manufacturing revenue is expected to dip at a compound annual rate of 3.3% to £7.2 billion. Heaps of cheap steel on the global market have undercut British prices and caused big trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. Both companies are also moving away from blast furnace operations to invest in greener electric arc furnaces, marking a complete industry shift. Tata Steel closed its Port Talbot site in September 2024, marking the end of traditional steelmaking in Wales and the switch to its electric arc furnace, which is set to begin operations in 2028. British Steel is preparing to close its Lincolnshire blast furnace site before the end of 2024-25. However, ongoing discussions with the government over the size of the support package for British Steel’s transition could delay the closure. The industry has been wracked by volatility. Metal prices dropped during 2020-21 as the COVID-19 pandemic slashed downstream demand for iron and steel. However, as manufacturing and construction activity started recovering in 2021-22, iron and steel prices soared as production failed to keep up, causing a global undersupply of steel. This massively raised revenue in 2021-22, driving up profitability. Steel prices started to dip in 2022-23, bringing down iron and steel manufacturers’ revenue. In 2024-25, revenue is set to dip by 2.9% owing to a slump in sales volumes in the second half of the year, resulting from the 2024 Autumn Budget denting business confidence and slashing construction and manufacturing new orders. This will coincide with iron and steel prices continuing to stave off. Profit is expected to remain flat as iron ore, carbon and energy prices continue to normalise, reducing manufacturers’ costs. However, higher wage costs and subdued demand will keep profit low at 1.1% in 2024-25. Over the five years through 2029-30, revenue is forecast to drop at a compound annual rate of -0.2% to £7 billion. While UK steel manufacturers no longer face tariffs in the US, EU import quotas will stay put, causing significant harm. Despite UK quotas, competition from imports will prevail, especially as China’s manufacturing rebounds. Reduced production from British Steel and Tata Steel as both companies switch to electric arc furnace production will also hinder revenue growth until 2028-29.

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Galvanized Steel Market Size 2025-2029

The galvanized steel market size is forecast to increase by USD 51.9 billion at a CAGR of 5.2% between 2024 and 2029.

The market is experiencing significant growth, driven by the robust economic expansion in China and India. These countries' increasing infrastructure development and industrialization efforts are leading to a rise in demand for galvanized steel, particularly in the form of pipes, which are extensively used in the oil and gas industry. Hot-dip galvanized steel is a durable and protective coating for steel, created by immersing it in a molten zinc bath at high temperatures. This sector's expansion is a key trend, as it not only boosts the demand for galvanized steel but also offers opportunities for innovation and technological advancements. However, the market faces challenges due to the volatility in raw material prices, which significantly impacts the manufacturing cost of galvanized steel.
This price instability can create uncertainty for market participants and necessitates effective risk management strategies. Companies seeking to capitalize on the market's growth potential while navigating these challenges must focus on optimizing their supply chains, exploring alternative raw material sources, and implementing price hedging strategies. By staying agile and responsive to market dynamics, they can effectively capitalize on the opportunities presented by the expanding market. This material's durability and resistance to corrosion make it a preferred choice for transporting oil and natural gas.

What will be the Size of the Galvanized Steel Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic and intricate world of construction materials, galvanized steel continues to hold a prominent position. This metal, known for its durability and resistance to corrosion, is a popular choice for various applications due to its elongation properties and certification processes. Galvanized steel distribution networks ensure the smooth flow of this essential material, while warehousing and logistics optimize its availability. The certification process, a crucial aspect of the market, guarantees the quality and safety of galvanized steel products. Galvanized steel's lifespan is significantly extended by its protective zinc-aluminum coating, which undergoes rigorous inspection during production. Galvanized steel's adaptability and strength make it a preferred choice for businesses seeking optimal performance and value.
The installation process requires careful attention to thickness and hardness, while maintenance and repair are essential for maintaining optimal performance. Applications for galvanized steel span across industries, from infrastructure to transportation, and its light weight makes it an attractive option for construction projects. Galvannealed steel, a variation of galvanized steel, offers enhanced durability. Galvanized steel's production process is continually evolving, with advancements in technology leading to improved efficiency and sustainability. The market's focus on safety and testing ensures that only high-quality products reach consumers. Replacement of older, less durable materials with galvanized steel is a common trend, as businesses recognize the long-term cost savings and reliability of this versatile metal. 

How is this Galvanized Steel Industry segmented?

The galvanized steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Hot-dip galvanized steel
  Electrical galvanized steel


Product

  Sheets and strips
  Structures
  Pipes and tubes
  Others


End-user

  Industrial
  Commercial
  Residential


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The hot-dip galvanized steel segment is estimated to witness significant growth during the forecast period. This process forms a corrosion-resistant layer, enhancing the steel's lifespan, particularly in harsh environments such as concrete and water. Galvanized steel's versatility is evident in various industries, including construction, where it's used for roofing, decking, and structural components. In consumer appliances, galvanized steel's weather resistance is essential for outdoor equipment. Automobiles and light industrial applications also benefit from its durability.

Hot-dip galvanized steel's popularity stems from its ability to withstand corrosion, ensuring long-last

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Steel Manufacturing Market Size 2025-2029

The steel manufacturing market size is forecast to increase by USD 455.4 billion, at a CAGR of 4.5% between 2024 and 2029.

The market is driven by the increasing consumption of high-strength steel, which is increasingly preferred in various industries due to its superior properties. This trend is further fueled by the growing demand for steel and stainless steel scrap, serving as crucial raw materials in steel production. However, the market faces challenges from excess production capacity, leading to intense competition and price pressures. Companies must navigate these dynamics to capitalize on opportunities and maintain profitability. Strategic initiatives such as innovation, operational efficiency, and geographic expansion can help steel manufacturers stay competitive and thrive in this dynamic market.

What will be the Size of the Steel Manufacturing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by dynamic market conditions and shifting applications across various sectors. Basic oxygen furnaces and blast furnaces remain the cornerstone of steel production, transforming iron ore into molten steel for further processing. The resulting steel is then shaped through continuous casting, hot rolling, and cold rolling into various forms such as bars, slabs, sheets, tubes, pipes, and plates. Steel consumption patterns are influenced by the demands of industries like consumer goods, automotive, construction, and energy. Stainless steel, with its superior strength and resistance to corrosion, finds extensive use in these sectors. Steel imports and exports shape global supply chains, with electric arc furnaces playing a crucial role in steel recycling and the production of alloy steel and high-strength steel. Steel grades and quality standards are continually evolving to meet the specific requirements of various applications. Carbon steel, galvanized steel, and prepainted steel are some of the many grades available. Steel pricing remains a critical factor, influenced by production costs, supply and demand, and market trends. The ongoing development of steel manufacturing technology further enhances the industry's ability to meet the evolving needs of its diverse customer base.

How is this Steel Manufacturing Industry segmented?

The steel manufacturing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userConstructionMachineryAutomotiveMetal productsOthersTypeFlatLongGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW).

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.The market is driven by the construction sector, which accounted for the largest share in 2024. This growth can be attributed to the construction of infrastructure projects such as skyscrapers, tech parks, roads, motorways, and bridges. Steel's strength and ductility make it an ideal choice for the building industry. It is commonly used in the production of high-strength plates for roads and bridges, rectangular tubing for welded frames, and beams for structural frameworks. Rebar and hollow structural components are also manufactured using steel. Additionally, steel is utilized in sign poles, fences, caissons, columns, culverts, pilings, and handrails due to its properties of durability, affordability, and adaptability for prolonged exposure to weather. Steel manufacturing processes include the use of electric arc furnaces, basic oxygen furnaces, and blast furnaces. Steel grades such as carbon steel, alloy steel, stainless steel, and high-strength steel are produced using these processes. Steel production capacity is increased through continuous casting, hot rolling, cold rolling, and continuous annealing. Steel scrap is recycled and reused in the manufacturing process, contributing to the sustainability of the industry. Steel applications extend beyond the construction industry to consumer goods, transportation, packaging, and industrial machinery. Prepainted steel, galvanized steel, and steel coatings are used in the production of appliances, automobiles, and packaging materials. Steel tubes and pipes are utilized in the oil and gas industry for transportation and storage. Steel wires are used in various applications such as fencing, wire ropes, and electrical conductors. Steel exports and imports play a significant role in the global steel market. Steel production and consumption vary across regions, leading to fluctuations in prices. Steel qu

In 2024, the EU's iron and steel trade recorded a surplus of EUR4.7 billion, with exports rising by 15.2% and import dynamics shifting towards Asian markets.

In 2023, the price of fabricated structural steel in the United Kingdom has fallen by over ** percent. That came after the cost of that building material soared between 2020 and 2022. Most of that price increase happened in 2021, with a growth rate of **** percent that year. Structural steel is widely used for construction because it is durable, malleable, and strong, while also being cheaper than many other metals. For example, it is often used as a structural material for skyscrapers and other buildings, as well as for infrastructure. Why has the price of steel increased? Those price increases seen until 2022 have not just affected the UK, but many other countries around the world. For example, the cost of fabricated structural metal in the U.S. and that of structural steel and other steel products in Germany reached their highest growth rate in 2022. Supply chain disruptions along with a decrease in the global production of crude steel in 2020 were some of the main reasons for those price hikes in 2021. In addition to that, the price of iron ore, which is the main component of steel, and energy also had a strong impact on the final price of steel products those years. Largest steel producers In the past couple of years, China was by far the largest steel producer in the world, with a production volume that was well over ***** times higher than that of the second country in the ranking: India. Although the United States was also on that list along with Japan and Russia, it was not among the leading exporters of steel. The reason for that discrepancy is that a big share of the production in countries of the size of the U.S., China, and India goes to fill their own domestic needs. Meanwhile, **** of the ** companies with the highest output of steel came from China, with the rest coming from Luxembourg, Japan, South Korea, India, and the U.S.

[250 Pages Report] The global stainless steel foil market size is expected to reach US$ 6.3 Billion in 2022 and US$ 10.4 Billion in 2032. It is likely to exhibit growth at a CAGR of 6.2% in the forecast period from 2022 to 2032. The rising need to enhance the dimensional stability that often prevents contamination of steel tool parts during heat treatment is expected to drive the sales of stainless steel foil in future years.

Report Attribute	Details
Stainless Steel Foil Market Estimated Base Year Value (2021)	US$ 5.9 Billion
Stainless Steel Foil Market Expected Market Value (2022)	US$ 6.3 Billion
Stainless Steel Foil Market Anticipated Forecast Value (2032)	US$ 10.4 Billion
Stainless Steel Foil Market Projected Growth Rate (2022 to 2032)	6.2% CAGR

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6.2% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Grade Type Product Type Material Type Application End Use Region
Regions Covered	North America Latin America Western Europe Eastern Europe APEJ Japan Middle East and Africa
Key Countries Profiled	USA Canada Brazil Argentina Germany UK France Spain Italy Nordics BENELUX Australia & New Zealand China India ASEAN GCC South Africa
Key Companies Profiled	AK Steel Corporation ArcelorMittal, Nisshin Steel Co., Ltd. Tata Steel Limited Ulbrich Stainless Steels & Special Metals, Inc. Reliance Foundry Co. Ltd. Jindal Stainless Ltd. A.J. Oster, LLC Hollinbrow Precision Products (UK) Ltd. All Foils, Inc.
Customization	Available Upon Request

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Carbon Steel Market Size 2024-2028

The carbon steel market size is forecast to increase by USD 187.59 billion at a CAGR of 3.58% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand in the construction industry for its durability and cost-effectiveness. This sector's expansion is further fueled by the global shift towards sustainable manufacturing practices, as carbon steel's production process emits less greenhouse gases compared to other steel types. However, the market is not without challenges. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth. Producers must navigate these price fluctuations to maintain profitability and remain competitive. To capitalize on market opportunities and navigate challenges effectively, companies must focus on operational efficiency, supply chain optimization, and strategic sourcing of raw materials. Additionally, investments in research and development to improve production processes and create value-added products can differentiate market players and provide a competitive edge. Overall, the market presents a compelling growth opportunity for investors and businesses, with the potential for significant returns in the long term.

What will be the Size of the Carbon Steel Market during the forecast period?

Request Free SampleCarbon steel, a fundamental component in construction and engineering, continues to shape industries with its versatile properties and evolving trends. Steel architecture's growth is driven by stringent safety standards and advanced forming processes, leading to innovative product development. Traceability and certification are crucial in ensuring steel's quality and reliability, while R&D and collaborations propel industry 4.0 and circular economy initiatives. Microstructure analysis and inspection standards play a pivotal role in enhancing steel's performance and sustainability. Simulation, testing methods, and optimization software facilitate efficient manufacturing processes and smart steel applications. Industry associations and partnerships foster knowledge exchange and digitalization, enabling a competitive market landscape. Steel's investment potential lies in its versatility, as it adapts to various engineering applications and welding processes. Sustainability initiatives and quality control measures further strengthen its appeal. Green steel, a promising trend, focuses on reducing carbon emissions and improving overall environmental impact. In the realm of steel manufacturing, collaboration, innovation, and adherence to industry standards are key to staying competitive. The future holds exciting possibilities as steel continues to adapt and evolve, offering endless opportunities for businesses.

How is this Carbon Steel Industry segmented?

The carbon steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. End-userConstructionShipbuildingAutomotiveTransportationOthersTypeLow carbon steelMedium carbon steelHigh carbon steelProductLong SteelFlat SteelTubular SteelGeographyAPACChinaIndiaJapanEuropeFranceGermanyItalyUKNorth AmericaUSCanadaMiddle East and AfricaEgyptKSAOmanUAESouth AmericaArgentinaBrazil

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.Carbon steel plays a pivotal role in various industries, including construction, manufacturing, energy, and transportation. In the construction sector, carbon steel's high strength and ductility make it an ideal choice for constructing high-rise buildings, tech parks, roads, highways, bridges, and other infrastructure projects. The global construction industry is experiencing moderate growth, driven by the increasing demand for residential and commercial buildings worldwide. Heavy equipment and industrial machinery also rely heavily on carbon steel for their manufacturing due to its heat resistance and wear resistance. The energy sector utilizes carbon steel pipes and plates for their high strength-to-weight ratio and corrosion resistance, making them suitable for transporting oil and gas. Steel manufacturers employ various processes such as forming, finishing, optimization, and recycling to produce different grades of carbon steel, including high strength steel, stainless steel, and alloy steel. These grades cater to diverse applications, including automotive, aerospace, and advanced technology industries. Steel suppliers and distributors play a crucial role in the steel supply chain by ensuring timely delivery of steel products to various industries. Steel prices are influenced by several factors, including production costs, demand, and market conditions. Steel research an

The Steel Tube, Pipe and Related Fitting Manufacturing industry has been affected by high volatility in global upstream and downstream markets. British oil and gas stocks are sinking, with only hard-to-reach reserves remaining untapped. Even during times of successful exploration, volatile global oil prices have reduced the incentive for production. Ballooning energy prices caused by the Russia-Ukraine conflict have eaten away at industry profitability as the manufacture of steel products is energy-intensive, resulting in staggering utility bills, particularly in 2022-23. These factors have dampened steel tube sales, with revenue expected to contract at a compound annual rate of 4.2% over the five years through 2025-26 to just over £1.1 billion. Revenue is set to hike by 1.4% in 2025-26 owing to persistently high steel prices lifting revenue, and higher demand from the vehicle manufacturing industry. Russia's invasion of Ukraine created significant supply chain disruptions in the steel and energy industries. This resulted in soaring steel prices due to constrained iron and natural gas supplies, which inflated production costs. While this inflated industry revenue, as steel tube, pipe and fitting manufacturers passed on the cost increases, revenue growth was limited by low downstream demand. While steel prices are falling in 2025-26, they remain historically high, slightly lifting industry revenue. However, lower steel prices are supporting profitability, which is set to stay at 5.7% in 2025-26. Price volatility will continue to permeate the industry. Particularly as US tariffs on iron, steel and aluminium products are set to spark, trade diversions, supply chain restructuring and retaliatory tariffs in other markets, impacting steel prices and industry revenue. Still, strong investment from British car manufacturers is set to support domestic demand for steel tube, pipes and fittings for vehicle manufacturing in 2025-26 and the coming years. Revenue is forecast to dip at a compound annual rate of 0.5% over the five years through 2030-31 to £1.1 billion. The natural decline of oil and gas extraction in the North Sea is set to slash sales of steel piping to petrochemical operations. However, green government energy policies are set to inflate revenue as the industry capitalises on the potential of manufacturing steel tube fittings for wind turbines. The industry will benefit from rising demand from vehicle manufacturers, especially Electric Vehicles.

Steel rose to 3,043 CNY/T on July 3, 2025, up 0.43% from the previous day. Over the past month, Steel's price has risen 2.70%, but it is still 10.74% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on July of 2025.

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TMT Steel Bar Market Size 2025-2029

The TMT steel bar market size is forecast to increase by USD 91 billion at a CAGR of 4.3% between 2024 and 2029.

The market is experiencing significant growth due to several key factors. The increasing demand for steel, driven by infrastructure development and construction projects, is a major growth driver. Additionally, the rising demand for seismic resistance in buildings and structures is leading to increased usage of TMT steel bars. However, fluctuating raw material costs pose a challenge to market growth. Producers must carefully manage their costs to maintain profitability. The market is expected to continue its growth trajectory, driven by these trends and challenges. TMT steel bars offer superior strength and durability, making them an essential component in various industries. As the demand for infrastructure development and construction projects continues to rise, the market for TMT steel bars is poised for steady growth.

What will be the Size of the TMT Steel Bar Market During the Forecast Period?

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The TMT (Thermomechanically Treated) steel bar market in the United States is experiencing significant growth due to the increasing demand for infrastructure development. TMT steel bars, available in various sizes such as 68 mm, 812 mm, and 12 mm, are increasingly being used in heavy industry applications, including torsional bars, low-cost reinforcement bars for residential and commercial construction, and concrete structures for buildings and industrial structures. The mechanical qualities of TMT steel bars, including their superior torsional strength, corrosion resistance, and earthquake resistance, make them a preferred choice for construction projects. These bars are also ductile and fatigue-resistant, ensuring a super-strong structure that can withstand heavy loads.



Heat treatment techniques such as rapid cooling are used to enhance the mechanical properties of TMT steel bars, making them ideal for use in infrastructure applications. The construction sector, particularly in the areas of hydropower plants and industrial structures, is a major consumer of TMT steel bars and other construction materials due to its ability to provide a reliable and durable solution. Water jet technology is used in the production of TMT steel bars, ensuring consistent and precise dimensions, while adhering to industry standards. The growing demand for earthquake-resistant and corrosion-resistant structures is expected to further drive the growth of the market in the United States.

How is this TMT Steel Bar Industry segmented and which is the largest segment?

The TMT steel bar industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Commercial
  Infrastructure


Grade Type

  Fe 415
  Fe 500 and 500D
  Fe 550 and 550D
  Fe 600
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  Middle East and Africa



  South America

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

TMT (Thermo-Mechanically Treated) steel bars are a preferred choice in the construction sector due to their superior mechanical qualities and corrosion resistance. These bars are widely used in urban areas for the construction of residential buildings and concrete structures. The use of TMT bars offers several advantages, including high tensile strength, excellent ductility, and a superior strength-to-weight ratio. These properties ensure the structural integrity and safety of buildings, bridges, dams, and other infrastructure. TMT bars can deform without breaking during seismic events, making them essential for earthquake resistance. The heat treatment process, which involves rapid cooling, enhances the steel's mechanical properties.

TMT bars are available in various grades to cater to different applications and load requirements. Producers use advanced technologies to ensure consistent quality and meet industry standards. The use of TMT bars is expected to continue growing due to their proven performance and durability.

Get a glance at the TMT Steel Bar Industry report of share of various segments Request Free Sample

The residential segment was valued at USD 164.10 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 77% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more in

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Steel Rebars Market Size 2025-2029

The steel rebars market size is forecast to increase by USD 66.1 billion at a CAGR of 4.9% between 2024 and 2029.

The market is experiencing significant growth due to the increasing construction activities in various sectors, including residential, commercial, and infrastructure. This trend is driven by the global population growth and urbanization, leading to a surge in demand for new buildings and infrastructure projects. Moreover, innovations in steel rebars are contributing to the market's growth, with manufacturers focusing on enhancing the product's durability, strength, and corrosion resistance. However, the market faces challenges due to the fluctuation in prices of raw materials needed to manufacture steel rebars, such as iron ore and coal.
These price volatilities can impact the profitability of steel rebar manufacturers and may lead to supply chain disruptions. Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on implementing cost management strategies, exploring alternative raw material sources, and investing in research and development to offer innovative and sustainable steel rebar solutions.

What will be the Size of the Steel Rebars Market during the forecast period?

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The steel rebar market continues to evolve, driven by the dynamic interplay of various factors. Applications in civil and structural engineering sectors remain a significant market driver, with infrastructure development and construction projects requiring large quantities of reinforcement bars for concrete structures. The ongoing unfolding of market activities is marked by advancements in rebar production techniques, such as hot and cold rolling, as well as the development of new steel grades and standards. Rebar diameters and lengths are continually being optimized for various applications, from high-rise buildings to residential construction. Seismic resistance and fire resistance are increasingly important considerations, leading to the adoption of new standards and technologies, such as epoxy and galvanized coatings.
Rebar testing and inspection play a crucial role in ensuring structural integrity, with the importance of quality control and certification growing. The supply chain, from steel mills to rebar distributors and fabricators, is undergoing continuous transformation, with advancements in logistics and technology streamlining the process. Green building initiatives are also influencing market dynamics, with an increasing focus on sustainable and eco-friendly construction materials. Precast concrete and prestressed concrete are gaining popularity due to their environmental benefits and improved mechanical properties. The market's continuous evolution is further underscored by advancements in rebar bending and cutting technologies, as well as the emergence of new applications, such as rebar spacing and rebar placement automation.
Overall, the steel rebar market is a vibrant and dynamic space, characterized by ongoing innovation and adaptation to changing market conditions.

How is this Steel Rebars Industry segmented?

The steel rebars industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Deformed
  Mild


Application

  Residential
  Commercial
  Public infrastructure


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The deformed segment is estimated to witness significant growth during the forecast period.

Deformed steel rebars, identified by their raised patterns like lugs, ribs, or indentations, are essential building materials for constructing infrastructure with high strength and durability. These rebars are commonly used in the construction of buildings, bridges, highways, dams, and other structures where structural integrity is paramount. The increasing urbanization in developing countries, particularly in Asia and Africa, drives the demand for new infrastructure and housing projects, leading to a significant increase in the need for deformed steel rebars. Additionally, investments in infrastructure projects such as transportation networks, bridges, and dams create high demand for high-performance reinforcement materials. BS and ASTM standards regulate the production and quality of deformed steel rebars in the US, ensuring their mechanical properties meet specifications.

Steel mills and rolling mills manufacture these rebars using hot or cold rolling processes. Rebar lengths, diameters, and grades vary depending on the application and project requirements. Yield and tensile stren

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Sheet Metal Market Size 2025-2029

The sheet metal market size is forecast to increase by USD 101 billion at a CAGR of 4.8% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the expansion of the machine tools industry and the increasing adoption of 3D technologies for sheet metal production. The machine tools sector's growth is fueled by rising industrialization and automation in various end-use industries, including automotive, construction, and electrical and electronics. Additionally, the integration of advanced technologies such as artificial intelligence and robotics in machine tools is enhancing production efficiency and reducing manufacturing costs. Another key trend influencing the market is the adoption of 3D technologies, including 3D printing and laser cutting, for sheet metal production. These technologies offer numerous advantages, including reduced production time, improved accuracy, and the ability to produce complex designs. However, the market is not without challenges. Fluctuating raw material costs, particularly for metals like aluminum and steel, pose a significant challenge for sheet metal manufacturers. Companies must carefully manage their supply chains and production costs to remain competitive in the market. To capitalize on market opportunities and navigate challenges effectively, sheet metal manufacturers must focus on innovation and operational efficiency. Investing in advanced technologies such as 3D printing and automation can help reduce production costs and improve product quality. Additionally, companies should prioritize supply chain management and risk mitigation strategies to manage the impact of raw material price fluctuations. Overall, the market presents significant growth opportunities for companies that can effectively navigate these trends and challenges.

What will be the Size of the Sheet Metal Market during the forecast period?

Request Free SampleThe metal industry encompasses various sectors, including research, careers, associations, impact, responsibility, sustainability, and more. Sheet metal components are a significant part of this industry, with technology and automation playing crucial roles in metal processing and forming. Sustainability is a key focus, as metal alloys undergo digitalization and adoption of industry 4.0 practices. Ethical considerations and certifications are essential in ensuring responsible business practices. Metal industry regulations govern the use of metal panels, cladding, and enclosures, while education and training equip the workforce with necessary skills. Surface treatment and coating processes enhance metal properties and meet evolving industry standards. Metal forming machines and fabrication shops contribute to innovation and investment opportunities. Metal industry associations and research firms, such as FMI, Nelsen, and others, provide valuable insights into market trends and dynamics. Regulations and ethical considerations shape the industry landscape, with a growing emphasis on metal industry 4.0 and digitalization. Metal certification and testing are essential for ensuring product quality and consumer safety. Investment in metal industry education and workforce development will remain vital as technology continues to transform the sector. The integration of metal industry ethics and sustainability into business strategies will further drive growth and innovation. Sheet metal suppliers and manufacturers must adapt to these trends to remain competitive and meet evolving market demands.

How is this Sheet Metal Industry segmented?

The sheet metal industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userBuilding and constructionAutomotiveMachineryOthersMaterialSteelAluminumOthersTypeBend sheetCut sheetPunch sheetGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKMiddle East and AfricaAPACAustraliaChinaIndiaJapanSouth KoreaSouth AmericaRest of World (ROW)

By End-user Insights

The building and construction segment is estimated to witness significant growth during the forecast period.The market encompasses various industries, with building and construction being a significant segment. In this sector, sheet metal plays a pivotal role in roofing, wall cladding, and structural applications. It is also indispensable in the manufacturing of HVAC systems, ductwork, and pipes. The value of sheet metal in construction stems from its inherent properties, including strength, durability, and adaptability. It can endure harsh weather conditions, offer corrosion resistance and fire protection, and be shaped and sized effortlessly. Moreover, sheet metal can undergo numerous finishing processes, such as painting, powder coating, and anodizing, to

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While growth is tempered by fluctuating raw material costs and regional trade policies, the market’s long-term outlook remains stable, with steady demand and incremental advancements in manufacturing processes expected through 2035. In 2025, the global stainless steel market is estimated to be valued at approximately USD 134,337.0 Million. By 2035, it is projected to grow to around USD 173,647.8 Million, reflecting a compound annual growth rate (CAGR) of 2.6%.

Metric	Value
Market Size in 2025	USD 134,337.0 Million
Projected Market Size in 2035	USD 173,647.8 Million
CAGR (2025 to 2035)	2.6%

Country Wise Outlook

Country	CAGR (2025 to 2035)
USA	2.7%

Country	CAGR (2025 to 2035)
UK	2.5%

Region	CAGR (2025 to 2035)
European Union (EU)	2.6%

Country	CAGR (2025 to 2035)
Japan	2.5%

Country	CAGR (2025 to 2035)
South Korea	2.7%

Competitive Outlook

Company Name	Estimated Market Share (%)
Acerinox S.A.	18-22%
Outokumpu Oyj	12-16%
POSCO	10-14%
Jindal Stainless Ltd.	8-12%
Nippon Steel Corporation	5-9%
Other Stainless Steel Manufacturers (combined)	30-40%

The global iron ore mining market is projected to reach USD 27.6 billion by 2033, exhibiting a CAGR of 7.80% from 2025 to 2033. Rising demand for iron ore in construction, transportation, and other industries is driving market growth. Iron ore is a key raw material for steel production, which is used in various industries such as automotive, construction, and manufacturing. The growing construction activities in emerging economies, coupled with increasing infrastructure development, are major factors contributing to the market expansion. Key industry players include BHP (Australia), Rio Tinto (U.K.), Northern Iron & Machine (U.S.), Shree Minerals Ltd. (Australia), Mount Gibson Iron (Australia), Vale (Brazil), ArcelorMittal (Luxembourg), NIPPON STEEL CORPORATION. (Japan), POSCO (South Korea), Tata Steel (U.K.), Great Panther Mining Limited (Canada), Atlas Iron Works (U.S.), and Iron Ore Company of Canada. (Canada). These companies are focusing on strategies such as mergers and acquisitions, collaborations, and technological advancements to strengthen their market position and expand their operations globally. Recent developments include: September 2021: In September 2021, Metso Outotec, a Finland-based technology and service provider catering to the minerals processing and metals refining industries, introduced a suite of solutions designed to enhance process efficiency, boost production capabilities, improve product quality, and simultaneously reduce energy consumption, environmental impact, as well as maintenance and operational costs., December 2022: In December 2022, Metalloinvest completed the refurbishment of the kiln complex at OEMK's pelletizing and metallization plant. Consequently, the complex now can produce 4.5 million metric tons of oxidized pellets annually, marking a 10% increase compared to its previous capacity.. Notable trends are: Rise in the extraction and mining activities and high usage for construction purposes is driving the market growth.