The 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 Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa)

The TMT Steel Bar Market was estimated at US$ 524.6 Billion in 2024 with a CAGR of 5.6% during the forecast period.
Thermo Mechanically Treated steel bars are referred to as TMT Bars. TMT bars have become an industry standard for creating any construction, including bridges, flyovers, dams, hydropower plants, industrial structures, high-rise skyscrapers, rapid transportation systems, and more. Thermo-Mechanical treatment is performed on these bars. After being rolled in the Rolling Stand Mill, the steel wires are subjected to a Tempo core water cooling system. The TMT bars outer layer becomes harder while the inner core remains soft that can bear any type of stress or strain, protecting the building from harm and ensuring a super-strong structure.

Cost Effectiveness and Environment Friendliness to Augment Market Growth
TMT Steel Bars have the highest recycling rate of any material, at more than 88%. It can be recycled without compromising on quality. The steel industry is also considered a green industry. Additionally, TMT bars offer higher tensile strength and elongation value, which implies less steel is required for the same quantity of construction. This saves money on shipping and storage in addition to lowering the cost of raw materials. TMT steel bars are also easier to control on-site, resulting in additional cost savings due to decreased construction and fabrication time is projected to augment the markets growth. The increasing urbanization and rising level of disposable income are the major market drivers that will further escalate the growth of the TMT Steel Bar market.

Corrosion-Resistant, Fire-Resistant and Earthquake-Proof to Drive Global TMT Steel Bar Market
They are corrosion resistant because the TMT manufacturing process gives the bars anti-rust qualities. Coarse carbides, the main cause of corrosion in steel, are prevented from forming during the water-cooling step, making TMT steel constructions more durable. They are fire resistant as TMT bars can endure temperatures ranging from 400 to 600 degrees Celsius because of their great thermal stability, ensuring the structural integrity of the building even during a fire. The soft core of the TMT bars imparts a high amount of flexibility, allowing structures made with TMT to better manage dynamic and seismic loading. This has raised the demand for TMT Steel Bar around the globe.

High Strength and Ductility to Support Market Growth
The exceptional strength of the bars makes them an appropriate material for use with concrete to strengthen structures. The TMT bars unique ribbed pattern adds strength by connecting them more closely with concrete. TMT bars ductility makes them easier to work with, and pre-welded meshes may be created off-site, saving overall construction time. Because TMT bars are incredibly flexible, they do not shatter even after being bent 180 degrees. It has a high-strength fire-resistant lining, sound insulation, and an energy-saving compound wall. Because of the steels greater ductility, greater elongation is feasible. TMT bars with a higher elongation rate are easier to transport and offer the greatest savings when compared to CTD bars. Furthermore, increased government backing for steel and coal production, as well as the advantages afforded by TMT steel bars versus torsional bars, are major elements driving the growth of the TMT steel bar business.

Rising Iron Ore Prices will Hamper Market Growth
The trade war between the United States and China has risen the costs of basic metals such as aluminium and copper, whereas iron ore prices are resisting this downward trend due to robust demand and supply of crude iron and associated products such as steel. For example, with effect from March 8, 2022, the business fixed pricing for lump iron ore (65.5%, 6-40mm) at Rs 6,000 per tonne and iron fines (64% - 10mm) at Rs 4,960 per tonne in 2021. On February 25, NMDC set a price of Rs 5,600 per tonne for lump iron ore (65.5%, 6-40mm) and Rs 4,560 per tonne for iron fines (64% - 10mm). Furthermore, tropical hurricane Veronica impacted iron ore production at BHP (brake horsepower) and Rio Tinto Group (Rio Tinto) which may further impede the market growth.

North America and Asia Pacific Witness an Uproar in the TMT Steel Bar Market
North America dominates the TMT Steel Bar market because of the presence of a well-defined regulatory framework and recommendations of government agencies in this region. Additionally, the growing adoption of minimally invasive procedures will flourish the markets growth rate in this region. Asia-Pacific is expected to grow during the forecast period due to the rising level of disposable income and booming construction sector. Additionally, increased investment primarily led by China will propel the markets growth rate in this region.

Top Companies and Recent Strategic Developments
Key players including ArcelorMittal SA, Atlas TMT Bars Pvt Ltd, Essar Steel, Jindal Steel and Power Ltd, Shyam Steel and JSW Steel Ltd. have consolidated the global market. Moreover, the rise in domestic market players focusing on developing 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: 2019-2023
• Base Year: 2023
• Forecast Period: 2024-2034

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 Billion, 2022 - 2032)
• 6-8 MM
• 8-12 MM
• 12 MM and Above

Grade Type Analysis (Revenue, USD Billion, 2022 - 2032)
• Fe-415
• Fe-500
• Fe-550
• Other Grade Types

Application Analysis (Revenue, USD Billion, 2022 - 2032)
• Residential
• Infrastructure
• Commercial

Region Type Analysis (Revenue, USD Billion, 2022 - 2032)
• North America (United States, Mexico, and Canada)
• Latin America (Brazil & Mexico)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, and others)
• Middle East & Africa
• Asia Pacific (China, India, South Korea, Indonesia, Australia, Vietnam, and others)

Key Companies
• ArcelorMittal Zenica
• Balkan Steel Engineering Ltd.
• Essar Steel
• HBIS Group
• HUS Ltd.
• MMD
• SIDERAL S.H.P.K.
• SIJ Group
• TATA Steel
• Atlas TMT Bars Pvt. Ltd.
• Jindal Steel & Power Ltd.
• JSW Steel Ltd.
• Kamdhenu Ltd.
• MSP Steel & Power 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
India TMT Steel Bar Market Research Report

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