Balkans TMT Steel Bar Market to Reach $4.06 Bn, by 2024 at 12.5% CAGR: Allied Market Research
PORTLAND, OREGON, UNITED STATES, April 2, 2024 /EINPresswire.com/ — The Balkans TMT Steel Bar Market is poised for growth, driven by increased demand for affordable reinforcement bars, the rise in usage of TMT for constructing earthquake-resistant structures, and a surge in construction projects such as bridges and dams.
Allied Market Research has published a comprehensive report titled “Balkans TMT Steel Bar Market,” covering segments such as diameter, application, grade, and country. According to the report, the market generated $1.76 billion in revenue in 2017 and is expected to reach $4.06 billion by 2024, growing at a CAGR of 12.5% from 2018 to 2024.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/4675
Key drivers of market growth include the high demand for affordable reinforcement bars, the increased use of TMT in earthquake-resistant structures, and the rise in the number of construction projects. However, technological constraints regarding high-grade TMT bars hinder market growth. On a positive note, increasing investments and support from the EU for coal and steel production present new opportunities in the market.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/4675
The Fe-415 segment is expected to maintain its dominance by 2024, contributing more than half of the total market share in 2017. This segment is favored for its increased usage in reinforced cement concrete constructions, especially in corrosion- and earthquake-prone areas. Meanwhile, the Fe-600 segment is anticipated to register the highest CAGR of 14.1% from 2018 to 2024, owing to its superior yield, toughness, and tensile strength.
In terms of diameter, the 12 mm & above segment is projected to remain dominant throughout the forecast period, growing at the fastest CAGR of 14.3% from 2018 to 2024. This segment is lucrative due to its extensive adoption in the construction sector. The infrastructure application segment is expected to maintain dominance through 2024, driven by the growing use in various construction projects such as bridges, flyovers, dams, and high-rise buildings.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/balkans-TMT-steel-bar-market/purchase-options
Bosnia & Herzegovina is expected to grow the fastest through 2024, with a significant rise in the production of steel and other metals. Key players in the industry include ArcelorMittal Zenica, Essar Steel, Balkan Steel Engineering Ltd., HUS Ltd., HBIS Group, MMD, Metalopromet d.o.o. Kula, SIJ Group, SIDERAL S.H.P.K., and TATA Steel, who have implemented various strategies to strengthen their position in the market.
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