The India TMT Steel Bar Market is segmented By Diameter Type (6-8 MM, 8-12 MM, 12 MM, and Above), By Grade Type (Fe-415, Fe-500, Fe-550, Other Grade Types), By Application (Residential, Infrastructure, Commercial) and By Region (Northern Region, North-Eastern Region, Eastern Region, Central Region, Western Region, Southern Region)
The India TMT Steel Bar Market was estimated at US$ XX Million in 2022 and is expected to reach US$ XX Million by the end of 2032 with a CAGR of XX% during the forecast period.
TMT Bars are Thermo Mechanically Treated Steel Bars. Thermo Mechanical Treatment is a procedure in which best quality steel bars are cooled down using "Thermex" water jet technology, causing the outside surface of the TMT Bars to harden while the inner core remains soft and able to withstand any form of stress or strain, protecting the building and creating a super-strong structure. TMT Bars are exceptionally strong, ductile, fatigue-resistant, earthquake-resistant, and corrosion-resistant. TMT bars have become an industry standard for building bridges, flyovers, dams, hydropower plants, industrial structures, high-rise skyscrapers, fast transportation systems, and other structures.
Rising Use of TMT in Construction Industry to Augment Market Growth
TMT Steel Bars for building is a boon in todays culture, given technical improvements. TMT steel for construction has a high elongation property that not only gives a buildings structure significant tensile strength and support but also makes it incredibly strong and earthquake resistant. People migrating from rural to urban regions will require more shelter, resulting in an increase in the percentage of residential buildings year after year. TMT Bars provide longer and better durability, weldability, higher tensile strength, and improved elongation value speed up the construction process while requiring less steel. As a result, raw material prices are lower, as are transportation and storage costs. TMT Bars are also extremely cost-effective because they are easy to manage on-site and offer quality cost savings. The rising level of disposable income and expanding urbanisation are the primary market drivers that would propel the India TMT Steel Bar market forward.
Benefits of TMT Steel Bars over Other Types Of Steel Bars to Drive India TMT Steel Bar Market
TMT and high-yielding strength deformed (HYSD) bars are commonly employed in modern architecture and construction. After the requisite heat treatment, HYSD bars are either cold twisted or heat rolled, whereas TMT steel bars are not deformed in any way. Despite having comparable iron content, TMT steel bars have much better tensile strength and are stronger than HYSD due to their non-deforming construction. TMT steel bars are also less prone to surface defects such as cracks and abrasion due to their non-twisted designs. Furthermore, these bars can endure high heat (400-600°C), making them a trustworthy solution for fire safety. In the approaching years, such factors will fuel market growth. This has enhanced the demand for TMT Steel Bar in India.
High Cost of TMT Steel Bar will Hamper Market Growth
TMT bars are bulky and difficult to transport. It is also expensive and raises the overall construction cost. Rust can build on steel exposed to air and moisture, decreasing the cost of a bar. This rust can impose internal strain on the surrounding concrete, generating cracks in the structure and impeding the market growth.
Top Companies and Recent Strategic Developments
Key players including Essar Steel, Jindal Steel and Power Ltd, Shyam Steel and JSW Steel Ltd. have consolidated the Indian market. Moreover, the rise in domestic market players focusing on developing India TMT Steel Bars is focusing on providing competitive pricing, which is further estimated to cater to the increasing demand among developing markets across the globe.
• In December 2022, Shyam Steel, a prominent producer and maker of primary TMT bars, announced the launch of Z Huzoor, a new age B2B marketplace for all building materials, on Tuesday.
• In August 2022, in order to jointly create a green low carbon steel supply chain, HBIS Group and BMW Group signed a memorandum.
• In February 2022, Tata Steel completes maiden multi-modal shipment of 1,800 tonnes of TMT bars from Haldia Port in West Bengal to Pandu Port in Assam using the Indo-Bangaldesh Protocol (IBP) route via Brahmaputra River.
• In October 2020, the longest flyover in the State, the 2.6 km long, six-lane Kanaka Durga flyover in Vijayawada, Andhra Pradesh, was made possible by Tata Steel. The Company has provided about 80% of the steel needed for the project, including 10,000 metric tonnes of TMT and 2,000 metric tonnes of LRPC Strands. The strength of the steel proved to be an inventive building technique.
Years considered for this report
• Historical Years: 2019-2021
• Base Year: 2021
• Forecast Period: 2022-2032
India TMT Steel Bar Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2032)
• Data breakdown for application Industries (2022 - 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Diameter Type Analysis (Revenue, USD Million, 2022 - 2032)
• 6-8 MM
• 8-12 MM
• 12 MM and Above
Grade Type Analysis (Revenue, USD Million, 2022 - 2032)
• Other Grade Types
Application Analysis (Revenue, USD Million, 2022 - 2032)
Region Type Analysis (Revenue, USD Million, 2022 - 2032)
• Northern Region
• North-Eastern Region
• Eastern Region
• Central Region
• Western Region
• Southern Region
• Shyam Steel
• Essar Steel
• TATA Steel
• Jindal Steel & Power Ltd.
• JSW Steel Ltd.
• Kamdhenu Ltd.
• Primegold International Ltd.
• Rashtriya Ispat Nigam Ltd
Available Versions of TMT Steel Bar Market Report:
United States TMT Steel Bar Market Research Report
Europe TMT Steel Bar Market Research Report
Asia Pacific TMT Steel Bar Market Research Report
Global TMT Steel Bar Market Research Report
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