The U.S. steel rebar market was valued at USD 6.50 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2025 to 2030. This growth is primarily driven by increased investments in residential development projects across the U.S.
The rising demand for affordable housing has prompted state and local governments to allocate more funds for affordable housing initiatives. For example, in October 2024, the U.S. Department of the Treasury announced USD 246.4 million in funding for the development of affordable housing and community infrastructure aimed at low-income communities and families.
Pricing TrendsSteel rebar prices in the U.S. have experienced notable fluctuations in recent years, influenced by supply chain disruptions, raw material prices, and global demand. In 2021, prices soared to approximately USD 1,000 per ton due to pandemic-related shortages and an uptick in construction activity, a significant jump from the pre-pandemic price of around USD 600 per ton. By mid-2023, prices began to stabilize at around USD 800 per ton, though still above historical norms. The volatility in scrap metal prices, a critical input for rebar, continues to affect market pricing.
Application InsightsThe growth of public construction is expected to further drive market expansion during the forecast period. For instance, the value of public construction in the U.S. reached USD 489,772 million in August 2024, up from USD 454,126 million in August 2023, marking a year-on-year increase of 7.8%.
The infrastructure segment is anticipated to witness the fastest revenue growth, with a projected CAGR of 5.6% over the forecast period. Increasing investments by state governments in infrastructure development are expected to propel steel rebar consumption.
The Infrastructure Investment and Jobs Act (IIJA) is also contributing to higher rebar demand, with $110 billion allocated for roads and bridges. Projects such as the Interstate Bridge Replacement and the repair of aging highways are driving the need for steel rebar. Furthermore, new innovations in high-strength and corrosion-resistant rebar are being used in coastal and high-moisture areas, where traditional materials would deteriorate faster, extending the lifespan of infrastructure.
The industrial segment is another important application for steel rebar, particularly in the construction of industrial facilities like processing plants, mining structures, factories, and warehouses. Increased investment in new industrial facilities is expected to boost demand for rebar in the coming years.
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Regional InsightsNortheast U.S. Steel Rebar Market TrendsIn the Northeast U.S., the demand for steel rebar is primarily driven by urban infrastructure needs, especially in high-density areas such as New York City and Boston. Ongoing investments in bridge repairs and subway expansions have made this region responsible for approximately 17.7% of the nation's rebar consumption by volume in 2024. The demand for corrosion-resistant rebar is especially high due to the coastal environment, which accelerates wear in traditional steel applications.
Key U.S. Steel Rebar Company InsightsProminent companies operating in the U.S. steel rebar market include CMC Steel, Nucor, and Steel Dynamics, Inc.
Key U.S. Steel Rebar Companies:
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