TMT Steel Bar in Spain 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 Spain National Recovery and Resilience Plan and the infrastructure developments of residential and tourism construction projects with subject to EU regulations and standards are the major factors driving the growth of the TMT steel bars in Spain.
Investments in Spain National Recovery and Resilience Plan increases the demand for TMT steel bars.
Spains National Recovery and Resilience Plan (NRRP) is the second-largest project funded by the Next Generation EU (NGEU) recovery instrument and its primary expenditure vehicle, the Recovery and Resilience Facility. The modified plan includes an increased grant allocation of €79.8 billion and a newly sought loan allocation of €83.2 billion. The grant component includes the June 2022 upward revision of Spains grant allocation of €7.7 billion and the countrys REPowerEU grant allocation of €2.6 billion. The updated strategy prioritizes the green transition, allocating nearly 40% of the resources to it. It also promotes digital transformation by allocating 25.9% of the budget (excluding the REPowerEU chapter) to digital projects. The NRRP infrastructure projects includes road and rail renovations, renewable energy infrastructure, and digital infrastructure thereby driving the demand for TMT steel bars in reinforced concrete constructions such as bridges, tunnels, foundations, and buildings.
Investment in Madrid Nuevo Norte the largest current urban regeneration project in Europe drives the market growth.
The Governing Council of the Community of Madrid has approved Madrid Nuevo Norte (MNN), Europes largest current urban regeneration project, which will help the region, particularly the capital, become a benchmark for urban planning in terms of mobility, energy efficiency, and environmental sustainability. It is an urban operation affecting 3.356.196 square meters of land, the equivalent of 460 football stadiums. Thus, it will create a socially and economically sustainable city by integrating the neighborhoods to the north of the capital in harmony with their rural environment, while also regenerating unused land and infrastructure to serve the city, reducing the impact on the territory. The construction of multiple high-rise buildings for residential, office, and hotel usage, as well as major underground infrastructure development such as additional metro lines, tunnels, and parking facilities will drive the demand for TMT steel bars.
Improvements in New Valencia railway access channel increases the demand for TMT steel bars.
Adif Alta Velocidad has awarded 443.4 million euros to construct the Access Channel and modify the Valencia Joaquín Sorolla station, marking a significant step towards railway integration in Valencia. The project involves undergrounding all access tracks to Valencia Nord and Valencia Joaquín Sorolla stations, as well as transforming the second terminal and expanding its car park. The construction of railway tunnels along with the new stations and associated facilities will further drive the demand for TMT steel bars.
Recent Strategic Developments
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Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2032
Spain TMT Steel Bar Market 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
Spain TMT Steel Bar Market 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.
Spain TMT Steel Bar Market Companies
• ArcelorMittal
• Acerinox
• Thyssenkrupp
• Sidenor
• Vallourec
