TMT steel Bar Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Grade, By Diameter, By Application, By Region, and By Competition, 2020-2030F
The Global TMT steel Bar Market was valued at USD 11.58 Billion in 2024 and is expected to reach USD 20.06 Billion by 2030 with a CAGR of 9.43% during the forecast period.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 11.58 Billion
Market Size 2030
USD 20.06 Billion
CAGR 2025-2030
9.43%
Fastest Growing Segment
Fe 550
Largest Market
North America
The global TMT (Thermo-Mechanically Treated) steel bar market is witnessing substantial growth, driven by rising construction activities, rapid urbanization, and increased infrastructure development across emerging and developed economies. TMT steel bars are essential in reinforcing concrete structures due to their superior tensile strength, flexibility, corrosion resistance, and weldability, making them ideal for residential, commercial, industrial, and infrastructure applications. One of the primary drivers of market expansion is the strong demand from the construction sector, especially in Asia-Pacific countries such as India, China, and Southeast Asian nations. These regions are undergoing significant urban expansion, smart city initiatives, and government-funded housing and transportation projects, all of which fuel demand for high-quality construction materials like TMT bars.
In developed markets such as North America and Europe, the focus on sustainable building practices, green construction, and renovation of aging infrastructure has also led to a surge in the adoption of advanced TMT bars with improved seismic resistance and thermal stability. Innovations in metallurgical processes, such as the introduction of high-strength grades like Fe500D, Fe550D, and Fe600, and the use of HYQST (High Yield Quenching and Self Tempering) and Tempcore technologies, have further enhanced product performance, broadening their application in earthquake-prone and coastal regions.
Key Market Drivers
Rising Construction and Infrastructure Development
Global urbanization and large-scale infrastructure projects are significantly driving the demand for TMT steel bars. As governments prioritize economic growth through infrastructure spending, TMT bars have become essential in modern construction due to their strength, flexibility, and resistance to corrosion and earthquakes. In Asia, over 50% of the global urban population resides, and by 2030, more than 60% of Asia's population is expected to live in cities, pushing up construction activity. India alone has initiated over 7,000 smart city projects, while China adds around 1.5 billion square meters of new construction each year. Africa is investing over USD200 billion annually in urban infrastructure, further escalating TMT bar demand. Globally, more than 2 million kilometers of roads and highways are under development or planning, much of which require reinforced concrete that uses TMT bars. In Latin America, infrastructure investments in railways and airports have grown by 18% annually over the last five years. The robustness and load-bearing capability of TMT bars make them indispensable for high-rise buildings, bridges, tunnels, and dams. Furthermore, stringent government safety norms in seismic zones now mandate the use of high-ductility TMT bars, especially grades Fe 500D and Fe 550D, which have seen over 30% annual growth in usage across disaster-prone regions. As infrastructure becomes the foundation for economic expansion in both emerging and developed nations, TMT steel bars will continue to be a vital material in global development.
Key Market Challenges
Raw Material Price Volatility
Price fluctuations remain a critical challenge: iron ore prices have oscillated by +-30% within six months, forcing producers to adjust margins. Thermal coal prices spiked 25% in one quarter, increasing energy costs for integrated mills. Scrap steel availability has varied by 20% seasonally, affecting EAF-based fabrication. Energy costs-natural gas, electricity-have risen by 18-22% annually in several countries, squeezing profits. Some plants have faced input cost increases of up to 35% year-on-year. This volatility complicates pricing contracts, making profit forecasting uncertain and leading to periodic steel price surges affecting TMT bar affordability.
Key Market Trends
Expansion of Electric Arc Furnace (EAF) Production
Globally, EAF-based steelmaking now contributes 30% of output, up from 25% five years ago. In India, this share is nearly 60%. Each new EAF mill adds about 1 million tonnes/year capacity. Scrap consumption rises by 500,000 tonnes per new EAF facility. Volume growth in EAF production supports localized TMT manufacturing closer to urban centers. Efficiency gains reduce CO2 intensity by 20-30%, aligning with green construction goals and reducing carbon penalty exposure.
Key Market Players
Tata Steel
JSW Steel
Jindal Steel & Power
Steel Authority of India Limited
SRMB Steel
Kamdhenu Group
Shyam Steel
Rashtriya Ispat Nigam Limited
Jai Balaji Group
Jumbo TMX
Report Scope:
In this report, the Global TMT steel Bar Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
TMT steel Bar Market, By Grade:
Fe 415
Fe 500
Fe 550
Fe 600 and above
TMT steel Bar Market, By Diameter:
8 mm
10 mm
12 mm
16 mm
above 16 mm
TMT steel Bar Market, By Application:
Residential Construction
Commercial Construction
Industrial Construction
Infrastructure
TMT steel Bar Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
South America
Brazil
Argentina
Colombia
Asia-Pacific
China
India
Japan
South Korea
Australia
Middle East & Africa
Saudi Arabia
UAE
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global TMT steel Bar Market.
Available Customizations:
Global TMT steel Bar Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global TMT steel Bar Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Grade (Fe 415, Fe 500, Fe 550, Fe 600 and above)
5.2.2. By Diameter (8 mm, 10 mm, 12 mm, 16 mm, above 16 mm)
5.2.3. By Application (Residential Construction, Commercial Construction, Industrial Construction, Infrastructure)
5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
5.3. By Company (2024)
5.4. Market Map
6. North America TMT steel Bar Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Grade
6.2.2. By Diameter
6.2.3. By Application
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States TMT steel Bar Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Grade
6.3.1.2.2. By Diameter
6.3.1.2.3. By Application
6.3.2. Canada TMT steel Bar Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Grade
6.3.2.2.2. By Diameter
6.3.2.2.3. By Application
6.3.3. Mexico TMT steel Bar Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Grade
6.3.3.2.2. By Diameter
6.3.3.2.3. By Application
7. Europe TMT steel Bar Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Grade
7.2.2. By Diameter
7.2.3. By Application
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany TMT steel Bar Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Grade
7.3.1.2.2. By Diameter
7.3.1.2.3. By Application
7.3.2. France TMT steel Bar Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Grade
7.3.2.2.2. By Diameter
7.3.2.2.3. By Application
7.3.3. United Kingdom TMT steel Bar Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Grade
7.3.3.2.2. By Diameter
7.3.3.2.3. By Application
7.3.4. Italy TMT steel Bar Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Grade
7.3.4.2.2. By Diameter
7.3.4.2.3. By Application
7.3.5. Spain TMT steel Bar Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Grade
7.3.5.2.2. By Diameter
7.3.5.2.3. By Application
8. Asia Pacific TMT steel Bar Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Grade
8.2.2. By Diameter
8.2.3. By Application
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China TMT steel Bar Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Grade
8.3.1.2.2. By Diameter
8.3.1.2.3. By Application
8.3.2. India TMT steel Bar Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Grade
8.3.2.2.2. By Diameter
8.3.2.2.3. By Application
8.3.3. Japan TMT steel Bar Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Grade
8.3.3.2.2. By Diameter
8.3.3.2.3. By Application
8.3.4. South Korea TMT steel Bar Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Grade
8.3.4.2.2. By Diameter
8.3.4.2.3. By Application
8.3.5. Australia TMT steel Bar Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Grade
8.3.5.2.2. By Diameter
8.3.5.2.3. By Application
9. Middle East & Africa TMT steel Bar Market Outlook