NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global TMT steel bar market size is estimated to
grow by USD 85.9 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 4.26% during the forecast
period. Increasing demand for steel is driving
market growth, with a trend towards rising demand for
seismic resistance. However, fluctuating raw material costs
for making tmt steel bar poses a challenge. Key market
players include 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, and Ultra TMT.
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Residential,
Commercial, and Infrastructure), Grade Type (Fe 415, Fe 500 and
500D, Fe 550 and 550D, Fe 600, and Others), and Geography (APAC,
Europe, North America, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
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, and Ultra
TMT
|
Key Market Trends Fueling Growth
The TMT steel bar market is experiencing growth due to the
increasing demand for seismic resistance in construction. This
trend is particularly prominent in regions susceptible to
earthquakes, such as Indonesia,
Japan, and Nepal. Seismic activities can result in
significant structural damage, leading to loss of life and
property. To mitigate this risk, there is a heightened focus on
using materials that can withstand seismic forces. TMT steel bars,
known for their high tensile strength and ductility, are an ideal
choice for such applications. Incorporated into reinforced concrete
structures, TMT bars absorb and dissipate seismic energy, reducing
the likelihood of structural failure. As a result, the construction
industry in seismic-prone areas is adopting seismic-resistant
design principles, which will drive the market growth for TMT steel
bars throughout the forecast period.
The TMT steel bar market is witnessing significant growth due to
increasing demand from various sectors like shopping malls, office
buildings, flyovers, highways, and mega-construction projects in
urban regions. Seismic zones require TMT bars with specific
properties such as ductility, fatigue-resistance, and
earthquake-resistance. Manufacturers focus on producing
super-strong structures using advanced technologies like water jet
cutting and improved elongation value. Industrial structures,
hydropower plants, and high-rise skyscrapers require TMT bars with
high tensile strength and durability. Extreme weather patterns and
seismic activity necessitate the use of corrosion-resistant and
fire-safe bars. The construction process benefits from the
weldability and non-deforming properties of TMT bars. Raw material
prices and modern architecture trends influence the market. TMT
bars undergo various processes like cold twisting and heat rolling
to enhance their properties. Surface defects, cracks, abrasion, and
high heat resistance are crucial factors. The industry standard
ensures TMT bars meet requirements for elongation property, tensile
strength, and earthquake resistance.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- TMT steel bar manufacturers face challenges due to volatile raw
material costs, specifically iron ore and scrap metal. These
fluctuations make it difficult to plan budgets and manage
production costs effectively. When raw material costs rise,
manufacturers may struggle to maintain profit margins if they
cannot pass on the increases to customers due to competition or
contracts. For example, NMDC Limited changed lump iron ore and iron
fines prices in January and February
2022. These price changes can lead to unstable steel prices,
making it challenging for construction companies and other
customers to accurately estimate project costs, potentially causing
delays or budget overruns. Sudden spikes in raw material costs can
also disrupt the supply chain, leading to production delays as
manufacturers seek alternative sources or assess the impact on
their operations. These factors are anticipated to hinder the
growth of the TMT steel bar market during the forecast period.
- The Tmt Steel Bar Market faces several challenges in producing
Fe415 rods and Fe250 rods for urban and residential building
construction. The spacing of rods in concrete structures must meet
mechanical qualities such as corrosion resistance and earthquake
resistance. Producers must cater to various grades and yield
strengths for different loads in buildings, bridges, dams, and
industrial complexes. Mild steel bars undergo heat treatment for
greater strength and ductility. Rapid cooling is crucial for
structural integrity and meeting quality standards. Sustainable
production techniques are essential to address environmental
worries. Industry publications discuss the latest trends, including
the use of smart city projects and architectural designs in old
buildings. Diameter type and load-bearing capacity are critical
factors in selecting building materials for commercial and
residential areas. The construction sector relies on Tmt Steel Bars
for columns, beams, slabs, and foundations in commercial projects,
hotels, and large-scale infrastructure projects. Producers must
ensure their products meet industry standards and offer sustainable
practices with a low carbon footprint.
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challenges - Download a Sample Report
Segment Overview
This tmt steel bar market report extensively covers market
segmentation by
- End-user
- 1.1 Residential
- 1.2 Commercial
- 1.3 Infrastructure
- Grade Type
- 2.1 Fe 415
- 2.2 Fe 500 and 500D
- 2.3 Fe 550 and 550D
- 2.4 Fe 600
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Residential- TMT steel bars provide numerous
benefits for residential construction due to their superior
properties and durability. These bars are widely used in various
residential structures for ensuring structural integrity and
safety. With high tensile strength and excellent ductility, TMT
bars can withstand stresses and loads experienced by buildings over
their lifespan. Their superior strength-to-weight ratio enables
safer and more reliable structures. TMT bars have good elongation
properties, which prevent breaking during seismic events,
maintaining building integrity during earthquakes. With a higher
melting point, they resist high temperatures in fires, adding
safety. TMT bars can be easily bent and welded, allowing for
customized designs and construction. The strength, durability, and
corrosion resistance of TMT steel bars will fuel the growth of the
residential segment and strengthen the market's expansion during
the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The TMT (Thermo-Mechanically Treated) Steel Bar Market is
witnessing significant growth due to the increasing demand for
infrastructure development. TMT bars, with their superior
mechanical qualities, are increasingly being used in various
applications, including torsional bars, low-cost reinforcement
bars, and in heavy industry. These bars are available in various
sizes, such as 68 mm, 812 mm, and 12 mm, making them suitable for
residential, commercial, and infrastructure applications. In the
Construction sector, TMT bars are used extensively in Concrete
structures due to their superior corrosion resistance and
earthquake resistance. Mild steel bars undergo heat treatment,
including rapid cooling, to enhance their mechanical properties,
making them ideal for loads in Buildings and industrial structures.
Water jet technology is used to cut TMT bars to precise dimensions,
ensuring a super-strong structure. TMT bars are ductile,
fatigue-resistant, and earthquake-resistant, making them an
industry standard in hydropower plants and other heavy-duty
applications. With their ability to resist corrosion and withstand
high loads, TMT bars are a preferred choice for engineers and
contractors.
Market Research Overview
The Tmt Steel Bar Market is witnessing significant growth due to
the increasing infrastructural development in various sectors.
Torsional bars and reinforcement bars, available in diameters
ranging from 68 mm to 812 mm and sizes like 12 mm, play a crucial
role in construction applications. Mild steel bars, which undergo
heat treatment for greater strength, are used extensively in
residential, commercial, and infrastructure projects. The
Construction sector relies heavily on these bars for Concrete
structures, with mechanical qualities like yield stress, corrosion
resistance, and earthquake resistance being key considerations.
FE-415, FE-500, FE-550, and FE-600 are popular grades, each with
distinct yield strengths. Producers ensure quality standards
through sustainable production techniques and industry
publications. Urban areas see the use of Tmt Steel Bars in
residential buildings, commercial areas, and industrial complexes.
The demand for sustainable practices and reducing carbon footprint
is driving the industry towards eco-friendly production methods.
Smart city projects and architectural designs incorporate these
bars for their load-bearing capacity and extreme weather
resistance. In large-scale infrastructure projects like bridges,
dams, and factories, Tmt Steel Bars contribute to structural
integrity. Columns, beams, slabs, foundations, and flyovers are
some applications where these bars are essential. The market caters
to various industries, including commercial projects like hotels,
shopping malls, and office buildings, as well as hydropower plants
and mega-construction projects. Seismic zones and extreme weather
patterns necessitate the use of fatigue-resistant,
earthquake-resistant, and corrosion-resistant bars. Water jet
technology is employed for producing super-strong structures,
ensuring ductility and meeting industry standards. In summary, the
Tmt Steel Bar Market is a vital player in the construction
industry, providing essential building materials for various
applications, ensuring structural integrity, and catering to the
demands of modern infrastructure projects.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- 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
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
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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