TMT Steel Bar Market in APAC is segmented By Diameter Range (6mm to 8mm, 8mm to 12mm, 12mm and above), By Application Type (Residential, Commercial, Infrastructure), By Grade Type (Fe-415, Fe-500, Fe-550, Fe-600, Others)

TMT Steel Bar in APAC shall reach a value of $X Million in 2033, growing with a CAGR of X% during the forecast period of 2023 to 2033.
Thermo-Mechanically Treated steel bars are a form of high-strength reinforcement steel commonly used in the building sector. They have various advantages over conventional steel bars, making them a preferred alternative for concrete structures such as buildings, bridges, and highways.
The infrastructure development of China Belt and Road initiative including the construction of a massive network of trains, energy pipelines, highways and the construction projects of smart cities and metro rail in India are some of the major factors driving the growth of the TMT steel bars in APAC. Countries like China and India, with their rapid urbanization and industrialization, have emerged as major contributors to the escalating demand for TMT steel rods in the Asia-Pacific region. The construction boom, fueled by government initiatives and increased private investments, has significantly boosted the market. Moreover, stringent building codes and regulations mandating the use of earthquake-resistant materials have further propelled the adoption of TMT steel rods in seismic-prone areas. As the Asia-Pacific region continues to witness economic growth and urban expansion, the TMT steel rods market is poised for continued advancement.
China Belt and Road Initiative involving infrastructure development projects increases the demand for TMT steel bars.
The Belt and Road Initiative is a huge China-led infrastructure project that aspires to span the globe. The development and investment efforts were originally intended to connect East Asia and Europe via physical infrastructure. Over the last decade, the project has spread to Africa, Oceania, and Latin America, dramatically increasing Chinas economic and political power. 10 years after the launch of the Belt and Road Initiative, cumulative BRI engagement has breached the USD 1 trillion mark, with around USD596 in construction contracts and USD420 in non-financial investments. The project included the construction of a massive network of trains, energy pipelines, highways, and streamlined border crossings, both westward through the mountainous former Soviet republics and southward to Pakistan, India, and the rest of Southeast Asia thereby driving the demand of TMT steel bars in these construction projects.

Development of smart city projects in India drives the market growth.
The development of smart city projects in India has become a key driver for TMT steel bars markets. The implementation of smart city projects necessitates a comprehensive overhaul of infrastructure, including intelligent transportation systems, energy-efficient buildings, advanced waste management solutions, and integrated information and communication technologies. This, in turn, stimulates demand across sectors such as IT, telecommunications, construction, and renewable energy. The Smart Cities Mission (SCM) envisions transforming 100 current and new cities in India into smart cities. The government has released Rs 73,454 crore for 100 Smart Cities, of which Rs 66,023 crore (90%) has been spent. The overall cost of these SCM initiatives is Rs 1,79,228.99 crore, compared to an initial total estimate of Rs 2.05 lakh crore, with governments funding less than half and the balance coming from internal or external sources, as well as other central government schemes. SCM aspires to offer fundamental infrastructure, a clean and sustainable environment, and a reasonable quality of life to its residents through the implementation of smart solutions. The primary aspect that distinguishes the SCM from prior urban-reform projects is the development and implementation of smart solutions to various urban challenges. Smart cities require a major infrastructure revamp, which includes the development of new highways, bridges, tunnels, smart grids, and water supply systems thereby driving the demand for TMT steel bars for reinforced concrete structures.

Metro rail projects in India increases the demand for TMT steel bars.
The government has allotted Rs 19,518 crore to all metro projects across India in the Union Budget 2023-24. The allotment for 2022-23 was Rs 19,130 crores. However, updated budget estimates for 2022-23 were 15,628 crore, according to budget records. The Delhi-Ghaziabad-Meerut RRTS corridor is being built at a quick rate in multiple locations. those on the corridor are taking shape, particularly those in the priority segment. Metro lines frequently extend underground, necessitating substantial digging thereby driving the demand for TMT steel bars to strengthen the concrete liner of these tunnels.
Recent Strategic Developments
• In August 2022, Shyam Steel, a prominent player in the production and manufacturing of primary TMT bars, has unveiled a significant strategy for the extensive growth of its retail presence in North India. This expansion initiative encompasses key states such as Delhi, Punjab, Haryana, Jammu and Kashmir, Himachal Pradesh, Rajasthan, and the NCR region.
To realize this ambitious plan, the company is set to make substantial investments totaling approximately Rs 2,500 crore. These funds will be allocated towards both brownfield and greenfield projects, aimed at augmenting the production capacity of Shyam Steel.

• In February 2022, Tata Steel achieved a significant milestone by successfully conducting its inaugural multi-modal shipment. The company transported 1,800 tons of TMT bars from Haldia Port in West Bengal to Pandu Port in Assam. This groundbreaking shipment utilized the Indo-Bangladesh Protocol (IBP) route, traversing the Brahmaputra River for seamless transportation.
Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2032

TMT Steel Bar Market in APAC Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2033)
• Data breakdown for application Industries (2022 - 2033)
• 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
TMT Steel Bar Market in APAC Market Segments
By Diameter Range (Revenue, USD Million, 2022 - 2033)
• 6mm to 8mm.
• 8mm to 12mm.
• 12mm and above
By Application Type (Revenue, USD Million, 2022 - 2033)
• Residential.
• Commercial.
• Infrastructure.
By Grade Type (Revenue, USD Million, 2022 - 2033)
• Fe-415.
• Fe-500.
• Fe-550.
• Fe-600.
• Others.
TMT Steel Bar Market in APAC Companies
• JSW Steel
• Tata Steel
• Jindal Steel and Power
• Vizag Steel
• Kamdhenu Steel
• Baoshan Iron & Steel Co.
• Anshan Iron & Steel Group
• Maanshan Iron & Steel Co.
• JFE Steel
• Nippon Steel