Navigating Market Dynamics in the Long Steel Products Industry
The global long steel products market size is expected to reach USD 1,012.11 billion by 2030, expanding at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc,. Products such as rebars and wire rodsare of vital importance in today’s world with their growing emphasis in the building and construction industry. Based on product, the market is segmented into rebars, wire rods, sections, and tubes, of which rebars are extensively used in the construction of infrastructure and buildings. Wire rods are manufactured by drawing hot metals through shafts to develop wires with reduced diameters. Wire rods represent the most ductile form owing to their high ductility and easy availability in different diameters. They are widely used in construction and fencing applications which is positively impacting their growth.
Long Steel Products Market Report Highlights
Based on product, rebars held a revenue share of more than 34.0% in 2023 of the global market. Rebars are embedded in the concrete or used along with it so that the concrete can withstand the compressive forces in the structure and sustain against the tensile forces formed in the structure. The demand for rebars is expected to propel in developing nations owing to the growing construction activities
In terms of revenue, wire rods is anticipated to register a CAGR of 5.9% across the forecast period owing to their rising use in the automotive industry
Asia Pacific accounted for the highest share of over 66.0% in 2023, in terms of revenue, and this trend is anticipated to continue over the forecast period. As the region is characterized by a growing population and surging housing requirements, countries such as China and India, are witnessing an increasing number of residential construction projects. This is expected to result in significant product demand in the Asia Pacific in the coming years
The market is characterized by intense competition. Several of players are entering into long term supply contracts with end-users. ArcelorMittal, Emirates Steel Arkan and Emirates Rebar Limited are among the leading players of the market in the world
For More Details or Sample Copy please visit link @: Long Steel Products Market Report
Based on region, Asia Pacific is one of the leading markets in the world. The growth is attributable to China which is the largest producer and consumer of long steel products in the Asia Pacific. Other major markets in the region include Japan, South Korea, India, and Southeast Asian countries such as Indonesia, Vietnam, and Thailand. In recent years, the Asia Pacific market has faced challenges due to a global oversupply of raw materials, increased competition from other steel-producing countries, and the impact of the COVID-19 pandemic on the region's economies.
Further, various growth strategies such as new product development and capacity expansions by the market players are likely to benefit the industry growth. For instance, in February 2023, ArcelorMittal introduced a new blast oxygen furnace LD (Linz-Donawitz) converter in Bosnia with a capacity of 125 tons. This converter has been supplied by Primetals Technologies. Thus, this investment ramps up the production and processing of steel into billets, bars, blooms, and ingots.
Top quality Sailma Plates at Budget-friendly Rates Exclusively on Steeloncall buy online. For More Information Please Visit Steeloncall.com Or Call Us At 1800-833-2929
Top 5 TMT Bars In India You Can Consider In 2023 - Radha TMT
Radha TMT outperforms all other manufacturers regarding tensile strength, weldability, fire resistance, and low carbon level. Its ductility makes it ideal for infrastructure construction that must withstand natural disasters. As a result, Radha TMT is ranked first for its TMT 550D LRF and its Radha Rhino TMT 600 steel bars. Radha TMT enables you to make an informed decision. Each product has undergone multiple levels of testing and licensing. Going ahead with Radha TMT guarantees you the best future build-on project.
The Eddy Current Detector is used to inspect the quality of the pipe welding.👍 Our customer installs and leaves it to work in half a day.👏👏 So upgrading your machine and steel production isn't difficult because Aogang will make it simple!🥳🥳 #AogangMachinery #eddycurrent #Eddy #Tubemill #slittingline #square #tube #production #ERW #HF #welder #hydraulic #accumulator #buildingmaterials #construction #machine #photovoltaicbrackets #solarpower #steelprice https://www.instagram.com/p/CgtWi7hPXVl/?igshid=NGJjMDIxMWI=
Steel is one of the key building materials used in every project. But there are many things which you may not yet know about it! But this FAQ will help you know everything there is to know about Steel! Read more:
Today Iron Rate Per Kg, Iron Rod Price Per Kg - Radha TMT
Get the latest Today's Iron Rate Per Kg and Iron Rod Price Per Kg from Radha TMT. Stay up-to-date with market trends and make informed decisions about your construction needs. Contact us now for more information.