TMT Steel Bar in Japan 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 Japanese governments massive infrastructure investments are a significant driver of this growth. High-speed railway expansion, disaster-resilient building efforts, and the emerging smart city revolution all require massive amounts of TMT steel for reinforcement and construction.
Initiatives launched by Japanese government to build resilient infrastructure.
Japan has nearly a century of experience dealing with disasters, putting it at the forefront of disaster risk reduction and climate change adaptation. Its industry and population centers are primarily located near the shore, making it vulnerable to climate change and natural disasters such as typhoons, floods, storm surges, earthquakes, and tsunamis. For instance, in June 2022, the world bank and the government of Japan agreed that quality infrastructure is of utmost important and they are working to establish a strong cooperation that takes advantage of their complementary skill sets. This plan prioritizes earthquake and tsunami-resistant infrastructure, making TMT bars, with their higher strength and ductility, an appealing option. For example, their employment in high-speed rail systems assures resistance to seismic activity and existing infrastructure to renovate and retrofit to better withstand disasters, increasing the demand for high-quality reinforcing bars such as TMT steel bars.
Development of smart city projects in Japan drives the market growth.
A $10 billion smart city Woven metropolis, a futuristic smart metropolis, is being created at the base of Mount Fuji in Japan. It is being created by Toyota subsidiary Woven Planet as a living laboratory for innovative technologies and will be the worlds first programmable metropolis. Futuristic metropolitan centers, filled with interconnected infrastructure and technology, rely largely on strong construction materials for their basis and growth. TMT steel bars, noted for their great strength, ductility, and weldability, are perfect for smart city projects thereby increasing its market growth.
Largest construction projects in Japan increases the demand for TMT steel bars.
ESR Group Limited has commenced building on ESR Kawanishi Distribution and Techno Park, Japans 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 Japan. 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
• In 2023, Nippon Steel plans to achieve net-zero CO2 emissions from steel production by 2050, we need to develop breakthrough technologies such as hydrogen injection into blast furnaces, high-grade steel production in large electric arc furnaces, and hydrogen direct reduction of iron.
• JFE steel Corp steel business accounts for 99.9% of the Groups CO₂ emissions. Efforts are underway to develop energy-saving and emission-reducing technology. They have used this technology to steel manufacturing processes to achieve low CO₂ emission intensity.
Furthermore, they have created and maintained a diverse range of environmentally friendly products and technology, such as high-performance steel materials that help consumers conserve energy when they use them, as well as renewable energy power generation.
Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2032
TMT Steel Bar Market in Japan 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 Japan 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 Japan Companies
• JFE Steel Corp.
• Nippon Steel Corp.
• Kobe Steel Ltd.
• Hitachi Metals Ltd.
• Daido Steel Co Ltd.
• Okaya and Co Ltd.
• Nisshin Steel Co Ltd.
