May 12, 2025
IndexBox has just published a new report: China – Concrete Reinforcing Bars – Market Analysis, Forecast, Size, Trends And Insights.
The market for concrete reinforcing bars in China is on the rise, with a projected increase in consumption over the next decade. By 2035, the market volume is expected to reach 38M tons, while the market value is anticipated to reach $31.4B. Despite a forecasted deceleration in market performance, the future looks promising for the concrete reinforcing bars industry in China.
Market Forecast
Driven by increasing demand for concrete reinforcing bars in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market volume to 38M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2024 to 2035, which is projected to bring the market value to $31.4B (in nominal wholesale prices) by the end of 2035.
ConsumptionChina’s Consumption of Concrete Reinforcing Bars
For the fourth year in a row, China recorded growth in consumption of concrete reinforcing bars, which increased by 1.1% to 34M tons in 2024. The total consumption volume increased at an average annual rate of +2.6% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 8.2% against the previous year. Over the period under review, consumption attained the maximum volume in 2024 and is likely to continue growth in the near future.
The value of the concrete reinforcing bar market in China shrank to $21.4B in 2024, reducing by -5.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Concrete reinforcing bar consumption peaked at $26.1B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.
ProductionChina’s Production of Concrete Reinforcing Bars
In 2024, the amount of concrete reinforcing bars produced in China rose modestly to 38M tons, picking up by 4.2% against the previous year’s figure. The total output volume increased at an average annual rate of +3.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2022 with an increase of 9.2% against the previous year. Over the period under review, production attained the maximum volume in 2024 and is expected to retain growth in years to come.
In value terms, concrete reinforcing bar production dropped modestly to $23B in 2024 estimated in export price. In general, the total production indicated measured growth from 2013 to 2024: its value increased at an average annual rate of +2.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -17.3% against 2022 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 38% against the previous year. Concrete reinforcing bar production peaked at $27.8B in 2022; however, from 2023 to 2024, production failed to regain momentum.
ImportsChina’s Imports of Concrete Reinforcing Bars
In 2024, supplies from abroad of concrete reinforcing bars was finally on the rise to reach 82K tons after two years of decline. In general, imports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 1,263% against the previous year. Imports peaked at 1.6M tons in 2021; however, from 2022 to 2024, imports stood at a somewhat lower figure.
In value terms, concrete reinforcing bar imports declined slightly to $64M in 2024. Over the period under review, imports, however, showed a pronounced curtailment. The growth pace was the most rapid in 2020 with an increase of 624% against the previous year. Over the period under review, imports reached the maximum at $955M in 2021; however, from 2022 to 2024, imports failed to regain momentum.
Imports By Country
Malaysia (28K tons), Japan (22K tons) and Qatar (3.7K tons) were the main suppliers of concrete reinforcing bar imports to China, together accounting for 65% of total imports.
From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +494.9%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Japan ($20M), Malaysia ($18M) and Germany ($4.7M) constituted the largest concrete reinforcing bar suppliers to China, with a combined 66% share of total imports.
Among the main suppliers, Malaysia, with a CAGR of +415.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
The average concrete reinforcing bar import price stood at $774 per ton in 2024, reducing by -11.5% against the previous year. Overall, the import price recorded a slight setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 60% against the previous year. Over the period under review, average import prices hit record highs at $945 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,468 per ton), while the price for Qatar ($582 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsChina’s Exports of Concrete Reinforcing Bars
For the fourth consecutive year, China recorded growth in shipments abroad of concrete reinforcing bars, which increased by 42% to 3.8M tons in 2024. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 119%. The exports peaked in 2024 and are expected to retain growth in the immediate term.
In value terms, concrete reinforcing bar exports surged to $2.1B in 2024. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 110%. Over the period under review, the exports reached the maximum in 2024 and are likely to continue growth in years to come.
Exports By Country
Hong Kong SAR (578K tons), South Korea (337K tons) and Singapore (283K tons) were the main destinations of concrete reinforcing bar exports from China, together accounting for 31% of total exports.
From 2013 to 2024, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +163.6%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Hong Kong SAR ($292M), South Korea ($203M) and Singapore ($140M) were the largest markets for concrete reinforcing bar exported from China worldwide, with a combined 30% share of total exports.
In terms of the main countries of destination, South Korea, with a CAGR of +145.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
In 2024, the average concrete reinforcing bar export price amounted to $554 per ton, dropping by -15% against the previous year. Over the period under review, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 57% against the previous year. The export price peaked at $934 per ton in 2021; however, from 2022 to 2024, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In 2024, amid the top suppliers, the countries with the highest prices were Belgium ($650 per ton) and the Philippines ($638 per ton), while the average price for exports to Singapore ($494 per ton) and Mongolia ($494 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+0.9%), while the prices for the other major destinations experienced a decline.