Middle East and Africa Steel Rebar Market

Middle East And Africa Steel Rebar Market Size

The Middle East and Africa Steel Rebar Market was worth USD 9.23 billion in 2024 and is anticipated to reach a valuation of USD 17.54 billion by 2033 from USD 9.91 billion in 2025. The market is predicted to register a CAGR of 7.4% during the forecast period.

Steel rebar reduces the risk of slippage by increasing the bond with the concrete. It helps aid the concrete under tension with the use of steel rebars in reinforced concrete and reinforced masonry structures. Industries in the Middle East and Africa follow specific standards in constructing high-quality buildings with the latest technologies. Companies should be specific in using advanced technologies to construct a building where the selection of steel rebar comes first. The major goal of the Middle East and African countries is to improve the overall infrastructure to promote better healthcare facilities. Therefore, increasing prominence for construction activities is likely to propel the growth rate of the market. 

MARKET DRIVERS

Increasing investments from the topmost companies in the Middle East and Africa is a major factor propelling the growth rate of the market. The focus on expanding the proper infrastructure to reserve oil and gas is certainly a key factor for the steel rebar industry to grow in this region. The countries mostly rely on the oil and gas companies in the Middle East and Africa, which are accepting new technologies to improve infrastructure and can relatively increase the overall economy. 

The demand to construct a huge number of buildings with an eventually increasing population is ascribed to prompting the growth rate of the Middle East and Africa steel rebar market. Standards of living in the developed and developing countries are drastically changing which shall influence the growth rate of the market positively. Increasing urban population and rising disposable income are also few factors ascribed to fuel the market size. 

MARKET RESTRAINTS

However, the high initial cost required in construction activities where the economic crisis is vulnerable in the industry is likely to degrade the growth rate of the market. The economic crisis is strongly hitting the countries due to the emergence of COVID-19 in 2020. These crises are posing a negative impact on construction activities that are further limiting the market’s growth rate. The economic crisis eventually reduced the income of the common people, which reduced consumer spending and further declined approvals for construction projects. Steel rebar is completely dependent on construction activities, and the reduction in these activities may impede the growth rate of the market. 

MARKET OPPORTUNITIES

In today’s world, the rapid adoption of advanced technologies plays an important role in the preceding construction activities. Innovative launch of steel rebar that is highly resistant to corrosion and epoxy coated is likely to showcase huge growth opportunities for the Middle East and African steel rebar market. In view of natural calamities like earthquakes, manufacturers are launching earth quake-resistant steel rebars that are gaining huge positive responses from the industrial sectors, and these are set to improve the growth rate of the market in the coming years.

MARKET CHALLENGES

The surging cost of the final products due to disruptions in the supply chain is a challenging factor for the market's key players. Stringent rules and regulations by government authorities in approving construction projects also limit the growth rate of the market. 

Middle Eastern countries have strict laws and economic policies. This is one of the main reasons that they experience a lack of foreign investments. The majority of the projects have to be dependent on the local industries for the production of steel.
In African countries, the purchasing power of the residents is very low and thus investors are reluctant to take up mega infrastructure projects. Modern infrastructure is viewed as a luxury and people expect more money to be spent on the basic needs of the people.

MARKET SEGMENTATION

This research report on the Middle East and Africa Steel Rebar market has been segmented and sub-segmented into the following categories.

By Process Insights

The electric arc furnace segment is leading with the highest share of the market due to the rising number of steel industries in the specific countries in this region. Proposals to increase the capacity of producing steel from the end-user industries are substantially to elevate the growth rate of the electric arc furnace segment.

By Coating Type Insights

Epoxy coated segment is gaining growth opportunities as it provides protection from corrosion. It is highly important to use corrosion-resistant materials in concrete structures that expands the lifespan which is likely to surge the growth rate of the market. The galvanized segment is expected to have significant growth opportunities in the coming years. 

By Bar Size Insights

#3 bar size segment has the largest share in the Middle East and Africa steel rebar market. The use of #3 size steel rebar in the construction of highways, slabs, and others is prompting the growth rate of the market. #4 size segment is anticipated to hold the highest growth rate throughout the forecast period due to its wide applications in the construction of the residential buildings. 

By End-Use Sector Insights

The infrastructure segment is ruling with the largest share of the market. Government acceptance in improving the construction of highways, bridges and airports to expand the business plans in Middle East and Africa is accounted for the rising prominence for the infrastructure segment

REGIONAL ANALYSIS

UAE steel rebar market is leading with the largest share owing to high construction projects. UAE’s goal to meet the rising demand for oil and gas requirements is to increase investments in the improvement of the infrastructure that is prompting the growth rate of the steel rebar market. High per capita income and rising urban population are also major factors driving the market share in the UAE. 

The South African steel rebar market is expected to grow at a steady pace during the forecast period. Government support for the common people through subsidiaries in rural areas is encouraging the demand for the construction of residential buildings which is amplifying the growth rate of the market. 

MARKET KEY PLAYERS

The major key players Middle East Steel Rebar Market are ArcelorMittal, Nippon Corporation, Nlmk, Nucor, Tata Steel, Jsw, Posco Holdings Inc., Jiangsu Shagang Group, Sail, Steel Dynamics, Inc., and others

RECENT HAPPENINGS IN THE MARKET

• Concrete continues to be the first choice for engineers and architects in the Middle East and North Africa region, this allows them to design and create some impressive edifices.
• Hamriyah Steel has completed the engineering phase on the International Maritime Industries drilling rigs, and it is undergoing preparations for fabrication and construction. Delivery remains on track for 2022.

MARKET SEGMENTATION

This research report on the Middle East and Africa steel rebar market has been segmented and sub-segmented into the following categories.

By Process

• Basic Oxygen Steelmaking
• Electric Arc Furnace

By Coating Type

• Plain Carbon
• Galvanized
• Epoxy Coated

By Bar Size

• #3 Bar Size
• #4 Bar Size
• #5 Bar Size
• #8 Bar Size
• Others

By End-Use Sector

• Infrastructure
• Housing
• Industrial

By Country

• KSA
• UAE
• Israel
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• Rest of MEA