Balkans TMT Steel Bar Market Share, Size, Demand, Diameter, Application, Grade, Country, Region-Forecast, 2018-2024
August 5, 2022
PORTLAND, OREGON, UNITED STATES, August 5, 2022 /EINPresswire.com/ -- Balkans TMT Steel Bar Market report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
High demand for affordable reinforcement bars, increase in use of TMT in earthquake-resistant structures, and rise in the number of construction projects drive the growth of the market. However, technological constraints regarding high grade TMT bars hinder the market growth. On the other hand, increasing inflow of investments and EU support & cooperation for production of coal & steel would create new opportunities in the market.
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Allied Market Research published a new report, titled, “Balkans TMT Steel Bar Market by Diameter (6-8 MM, 8-12 MM, and 12 MM & Above), Application (Residential, Commercial, and Infrastructure), Grade (Fe-415, Fe-500, Fe-550, Fe-600, and Others), and Country (Macedonia, Kosovo, Albania, Serbia, Bosnia & Herzegovina, and Rest of Balkans) – Opportunity Analysis and Industry Forecast, 2018-2024” .
The report offers extensive analyses of the market dynamics, top investment pockets, market size & estimations, drivers & opportunities, and competitive landscape. According to the report, the Balkans TMT steel bar market generated $1.76 billion in 2017, and is expected to reach $4.06 billion by 2024, growing at a CAGR of 12.5% from 2018 to 2024.
Fe-415 segment contributed more than half of the total market share in 2017, owing to its increased usage in reinforced cement concrete (RCC) constructions, especially in corrosion- and earthquake-prone areas for its high uniform elongation. This segment is expected to maintain its lion’s share by 2024. However, Fe-600 segment would register the highest CAGR of 14.1% from 2018 to 2024, owing to its ability to offer higher yield, toughness, and tensile strength in comparison to other grades. The report also analyzes Fe-500, Fe-550, and other segments.
The 12 mm & above segment contributed nearly half of the total market share in 2017 and is expected to remain dominant throughout the forecast period. This segment would grow at the fastest CAGR of 14.3% from 2018 to 2024. It is a lucrative segment owing to its extensive adoption in the construction sector in Balkans and Europe. The study also analyzes the 8-12 mm and 6-8 mm segments.
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Infrastructure application segment contributed more than half of the total market share in 2017, owing to the growing use of construction of bridges, flyovers, dams, underground structure, high-rise buildings, concrete roads, and power plant. This segment is expected to remain dominant through 2024. However, commercial application segment would grow at the highest CAGR of 14.8% from 2018 to 2024, owing to the requirement for super durability, resistance to corrosion, and weldability, which are offered by TMT steel bars. The residential application segment would witness gradual growth rate during the forecast period.
The leading market players analyzed in the study include ArcelorMittal Zenica, Essar Steel, Balkan Steel Engineering Ltd., HUS Ltd., HBIS Group, MMD, Metalopromet d.o.o. Kula, SIJ Group, SIDERAL S.H.P.K., and TATA Steel. These players have implemented various strategies including collaborations, mergers & acquisition, partnerships, joint ventures, expansions, and others to strengthen their position in the industry.
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