TMT Steel Bar in Canada 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.
Canadas TMT steel bar market is fueled by a multiple factors, including booming residential and commercial construction driven by population growth and infrastructure investments, ongoing public spending on critical infrastructure like bridges and roads, and the advantages of TMT steel over traditional reinforcement bars, such as superior strength, ductility, and earthquake resistance. Additionally, government support for domestic steel production and rising demand for low-cost reinforcement bars in rural areas play a crucial role in propelling the market forward.
Investments in transit center upgrades by the Canadian government in the city of Port Coquitlam.
The Government of Canada and TransLink will invest $31.1 million to improve transportation infrastructure in Port Coquitlam, benefiting more transit riders. This project will modernize the Port Coquitlam Transit Centre, giving commuters more transportation options. TransLink will use this investment to refurbish and expand the PTC, which serves bus lines in eastern Metro Vancouver. This project will expand the transit centers capacity to run and maintain a larger and more diverse fleet of buses, including double decker and battery-powered buses. Transit centers are multifunctional facilities that include elevated platforms, station buildings, parking garages, underground tunnels, and supporting infrastructure. Each piece requires extensive steel reinforcement to ensure structural integrity and performance. TMT steel bars, known for their uncompromising strength, ductility, and outstanding weldability, are ideal for such applications thereby driving the demand for TMT steel bars.
Investment in wastewater infrastructure improvements in Kimberly Canada drives the market growth.
The federal, provincial, and local governments of Kimberly Canada will contribute more than $90.6 million to create new wastewater infrastructure in the City of Kimberley. This project will involve the construction of a new wastewater treatment plant in Kimberly. The new plant will replace the existing Pollution Control Centre, built in 1967 and positioned in a flood-prone location. It will also include measures to ensure service reliability and smell control to avoid disturbing surrounding communities. Wastewater infrastructure includes sewage treatment plants, pumping stations, pipelines, and storage tanks. Each of these components requires significant steel reinforcing to ensure structural integrity and durability thereby driving the demand for TMT steel bars.
Largest construction projects in Canada increases the demand for TMT steel bars.
ESR Group Limited has commenced building on ESR Kawanishi Distribution and Techno Park, Canadas one of the largest distribution hub development, which will cover a premium land area of 505,281 sqm and a total gross floor space of over 750,000 sqm. It will serve a wide mix of tenants across multiple industries, including logistics, e-commerce, transportation, and retail, as well as a rise in manufacturing operations prompted by reshoring from Asia back to Canada. The parks direct building needs, along with the potential for additional infrastructural development and economic activity in the surrounding area, produces a surge in demand for the TMT steel bars.
Recent Strategic Developments
•
Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2032
TMT Steel Bar Market in Canada 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 Canada 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 Canada Companies
• Central Trading International Pty Ltd.
• ArcelorMittal Dofasco
• Gerdau Magna
• Russell Metals Inc.
• SSAB Swedish Steel Canada
• Metalex Corp.
