North America Rebar Steel Market [2028] - Share, Trends & Forecast
The North America rebar steel market is anticipated to grow robustly during the forecast period 2024-2028 due to the rapid growth in the demand for rebar steel from the construction sector and increasing government programs in the region. Additionally, global urbanization reached a 57 percent level in 2022. With more than 45 percent of the population living in cities, North America had the highest rate of urbanization. Rebar (short for reinforcing bar), frequently referred to as reinforcing steel or reinforcement steel when grouped together, is a steel bar used as a tension device in reinforced concrete and reinforced masonry constructions to aid and strengthen the concrete when it is under tension. While having a low tensile strength, concrete is robust in compression. The structure's tensile strength is greatly increased by rebar. To improve its bond with the concrete and lessen the chance of slippage, rebar has a continuous series of ribs, lug...