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The global TMT steel bar market at a CAGR of almost 9% during the forecast period

NEW YORK, Sept. 23, 2019 /PRNewswire/ -- Global TMT Steel Bar Market: About this market
Thermo-mechanically treated (TMT) steel bars are high strength reinforcement bars which are manufactured using a combination of the mechanical deformation and thermal processes. These bars have a low carbon content, which increases their ductility and ensures durability resilience and safety of buildings. This TMT steel bar market analysis considers sales from Fe 415, Fe500 and 500D, Fe550 and 550D, FE 600, and other grade types. Our analysis report also considers finds the sales of TMT steel bar in APAC, Europe, North America, South America, and MEA. In 2018, the Fe 415 segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rapid urbanization and growing household income will play a significant vital role in the Fe 415 segment to maintain its market position. Also, our global TMT steel bar market report looks at factors such as growing demand for steel, advantages of TMT steel bars over other steel bars, and growing global construction industry. However, increasing iron ore prices, constraints of higher grades of TMT steel bars, and increase in government regulations and carbon pricing may hamper the growth of the TMT steel bar industry over the forecast period.

Read the full report: https://www.reportlinker.com/p05816309/?utm_source=PRN

Global TMT Steel Bar Market: Overview
Growing global construction industry
The global construction industry is the world's largest consumer of base metal commodities, including steel. TMT steel bars are one of the major significant steel products and are used as reinforcement bars in building the supportive frames of modern infrastructure. These bars deliver more strength to the structures as compared to other conventional bars with the same amount of steel. The high durability of these bars increases the longevity of the buildings and thus, reduces maintenance costs. Growth in the global economy coupled with increasing rising per capita income is driving the global construction industry which will subsequently lead to the expansion of the global TMT steel bar market at a CAGR of almost 9% during the forecast period.
Increasing use of secondary steel
Steel is produced using two major primary raw materials, iron ore and steel scrap. The use of steel scrap in producing steel has been increased due to the increase in iron ore prices and gradual depletion of high grades of iron. Steel is 90%-99% recoverable, and obtaining recycled steel makes the process environmentally feasible. The use of recycled steel for manufacturing TMT reinforcement bars is more energy efficient. The added benefits of lesser pollution and exhaustion of natural resources have increased the use of secondary steel in manufacturing TMT steel bars. The use of recycled steel is promoted more due to the recent advances in technologies. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global TMT steel bar market is fragmented. This robust vendor analysis is designed to help clients improve their market position. In , and in line with this, this report provides a detailed analysis of several leading TMT steel bar manufacturers, that include ArcelorMittal SA, Atlas TMT Bars Pvt. Ltd., Essar Steel, Jindal Steel & Power Ltd., JSW Steel Ltd., Kamdhenu Ltd., MSP Steel & Power Ltd., Primegold International Ltd., Rashtriya Ispat Nigam Ltd., and Tata Steel Ltd.
Also, the TMT steel bar market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05816309/?utm_source=PRN

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