Global Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size

The global concrete reinforcing bar market shrank slightly to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Global consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Concrete Reinforcing Bar Production

In value terms, concrete reinforcing bar production shrank sharply to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 54% against the previous year. Over the period under review, global production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Concrete Reinforcing Bar Exports

Exports

In 2022, approx. X tons of concrete reinforcing bars were exported worldwide; reducing by -14.4% against the previous year. Overall, exports saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 with an increase of 18%. The global exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, concrete reinforcing bar exports shrank modestly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 73%. The global exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the largest exporter of concrete reinforcing bars in the world, with the volume of exports accounting for X tons, which was near 24% of total exports in 2022. Russia (X tons) took the second position in the ranking, followed by China (X tons), Italy (X tons) and Malaysia (X tons). All these countries together held near 24% share of total exports. Japan (X tons), Germany (X tons), Portugal (X tons), Poland (X tons), Vietnam (X tons), Spain (X tons), France (X tons) and Oman (X tons) took a minor share of total exports.

Exports from Turkey decreased at an average annual rate of -4.0% from 2012 to 2022. At the same time, Oman (+51.5%), Malaysia (+27.7%), China (+18.4%), Vietnam (+15.9%), Russia (+5.6%) and Japan (+1.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the world, with a CAGR of +51.5% from 2012-2022. By contrast, Italy (-1.7%), France (-2.1%), Portugal (-2.8%), Germany (-2.9%), Poland (-6.5%) and Spain (-11.2%) illustrated a downward trend over the same period. While the share of China (+5.1 p.p.), Malaysia (+4.3 p.p.), Russia (+4 p.p.), Vietnam (+2.1 p.p.) and Oman (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Spain (-4 p.p.) and Turkey (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest concrete reinforcing bar supplier worldwide, comprising 21% of global exports. The second position in the ranking was taken by Italy ($X), with a 7.2% share of global exports. It was followed by China, with a 6.4% share.

In Turkey, concrete reinforcing bar exports contracted by an average annual rate of -2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+2.4% per year) and China (+19.5% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, with an increase of 14% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +66.3% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 46% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.6%), while the other global leaders experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports

In 2022, the amount of concrete reinforcing bars imported worldwide reduced to X tons, dropping by -10.8% against the year before. In general, imports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Global imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, concrete reinforcing bar imports reached $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 66%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the three major importers of concrete reinforcing bars, namely Hong Kong SAR, the United States and Germany, represented more than 0.0% of total import. Canada (X tons), Romania (X tons), Yemen (X tons), South Korea (X tons), the UK (X tons), Kazakhstan (X tons), China (X tons), France (X tons), Poland (X tons) and Singapore (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +18.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hong Kong SAR ($X) and the United States ($X) were the countries with the highest levels of imports in 2022, with a combined 20% share of global imports. Canada, Romania, the UK, France, Yemen, Poland, South Korea, Singapore, Kazakhstan and China lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, China, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average concrete reinforcing bar import price stood at $X per ton in 2022, picking up by 16% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +65.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 43% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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