Steel Long Products Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Process Type (Basic Oxygen Furnace and Electric Arc Furnace), By Product Type (Rebar, Wire Rod, Merchant Bar, and Others), By Application (Construction, Industrial, and Others), By Region, By Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 682.04 Billion
CAGR (2026-2031)	5.19%
Fastest Growing Segment	Oxygen Furnace
Largest Market	Asia Pacific
Market Size (2031)	USD 923.97 Billion

Market Overview

The Global Steel Long Products Market will grow from USD 682.04 Billion in 2025 to USD 923.97 Billion by 2031 at a 5.19% CAGR. Steel long products, defined by their extended length and specific cross-sections, primarily encompass reinforcement bars, wire rods, rails, and structural sections such as beams and angles used in engineering. The market is fundamentally driven by accelerating global urbanization and the critical need for infrastructure modernization, which necessitate massive quantities of these components for constructing bridges, transit networks, and commercial facilities. According to the World Steel Association, in 2024, steel demand in India is projected to grow by 8.0%, a robust expansion heavily fuelled by sustained government spending on infrastructure projects that utilize these structural materials.

However, a significant challenge that could impede market expansion is the persistent weakness in the residential construction sector across major developed economies and China. Elevated interest rates and tighter financing conditions have suppressed new housing starts, directly reducing the consumption of reinforcement bars and other essential long steel products. This continued sluggishness in real estate activity represents a formidable headwind, potentially offsetting gains made in the infrastructure segment and restraining overall market growth.

Key Market Drivers

Accelerated global infrastructure development acts as the primary catalyst for the long steel sector, necessitating substantial volumes of reinforcement bars, structural sections, and railway tracks. Emerging economies are particularly aggressive in this domain, channeling capital into transportation networks and energy distribution systems that rely heavily on the durability of long steel products. A prime example is India, where the federal administration prioritizes physical asset creation to stimulate economic output. According to the Press Information Bureau, February 2024, in the 'Interim Budget 2024-2025', the capital expenditure outlay for infrastructure development was increased by 11.1% to ₹11,11,111 crore, directly bolstering the requirement for structural steel components. This sustained fiscal commitment ensures a steady baseline of consumption for long products, buffering the market against volatility in other cyclical sectors.

The expansion of automotive and commercial vehicle manufacturing further propels the market, specifically driving demand for high-grade wire rods and special bar quality steel used in engine components and fasteners. As supply chains normalize, the sector's resurgence generates consistent orders for these specialized long products. According to the International Organization of Motor Vehicle Manufacturers, March 2024, in the '2023 Production Statistics', global motor vehicle production grew by 10.3% to reach 93.5 million units, indicating a robust recovery in manufacturing activities utilizing engineering steel. Broader industrial recovery supports this trajectory. According to the World Steel Association, in 2024, global steel demand is forecast to rebound by 1.2% in 2025 to reach 1,772 Mt, signaling a gradual stabilization in the overall consumption environment.

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Key Market Challenges

The persistent weakness in the residential construction sector across major developed economies and China acts as a substantial restraint on the Global Steel Long Products Market. Elevated interest rates and stringent financing conditions have significantly raised the cost of capital, prompting developers to delay or cancel new housing starts. This stagnation directly curtails the consumption of essential long steel components, specifically reinforcement bars and wire rods, which serve as the structural backbone for residential buildings. The resulting volume loss in this steel-intensive sector creates a considerable demand gap that often neutralizes growth achieved in infrastructure segments.

This downward pressure is empirically evident in recent industry forecasts regarding regional performance. According to the World Steel Association, in October 2025, steel demand in the developed world is projected to decrease by 0.5% for the year, marking the fourth consecutive year of decline. This sustained contraction highlights the severity of the market headwinds, as the lack of recovery in housing and construction activities continues to suppress order volumes for long products in these key regions.

Key Market Trends

The transition to hydrogen-based and low-carbon manufacturing is fundamentally reshaping the Global Steel Long Products Market as producers aggressively decarbonize to meet stringent international climate goals. This industry-wide shift involves replacing traditional coal-dependent blast furnaces with Electric Arc Furnaces (EAF) and Direct Reduced Iron (DRI) technologies powered by green hydrogen, significantly altering the production economics and carbon footprint of structural steel grades. Major manufacturers are currently executing capital-intensive projects to operationalize these fossil-free processes, ensuring compliance with emerging regulations like the carbon border adjustment mechanisms. According to SSAB, April 2024, in the press release 'SSAB to build fossil-free mini-mill in Luleå', the company approved a decisive investment of €4.5 billion to construct a state-of-the-art fossil-free steel mill in Sweden, demonstrating the scale of capital commitment driving this supply-side transformation.

Simultaneously, the expansion of steel applications in renewable energy infrastructure serves as a critical growth vector, specifically driven by the material intensity of wind and solar power generation assets. Unlike general civil infrastructure, this trend demands specialized long products, such as high-tensile reinforcement bars for turbine foundations and structural sections for mounting systems, to withstand the dynamic loads of onshore and offshore energy facilities. This sector provides a resilient, high-volume demand channel that is distinct from traditional commercial construction cycles. According to the Global Wind Energy Council, April 2024, in the 'Global Wind Report 2024', the global wind industry installed a record 117 GW of new capacity in 2023, signaling a sustained trajectory of steel consumption dedicated to clean energy generation projects.

Segmental Insights

The Oxygen Furnace segment is currently the fastest-growing category within the Global Steel Long Products Market, driven primarily by substantial capacity additions in emerging industrial economies. This production method allows manufacturers to utilize raw iron ore, ensuring a consistent supply of virgin steel necessary for large-scale infrastructure projects where scrap availability is limited. Data from the World Steel Association indicates that the high demand for structural steel in construction and heavy engineering necessitates the volume capabilities inherent to this process. Consequently, producers are prioritizing oxygen furnace investments to maintain cost efficiency and meet global requirements for durable long products.

Regional Insights

Asia Pacific commands the leading position in the Global Steel Long Products Market, primarily driven by extensive infrastructure development and rapid urbanization in China and India. The region generates substantial demand for reinforcing bars, wire rods, and structural sections, which are essential for residential housing and commercial construction projects. Strategic government investments in expanding transportation networks and industrial corridors further sustain this consumption. Data from the World Steel Association indicates that the high volume of crude steel production in these major economies underpins the region’s market dominance, ensuring a reliable supply for ongoing heavy engineering activities.

Recent Developments

• In May 2025, the Hoa Phat Group signed a major contract with the SMS Group to supply technology and equipment for a new steel rail and structural steel production line in Vietnam. The project, valued at approximately half a billion US dollars, was established to create a manufacturing capacity of 700,000 tons per year dedicated to high-speed rail and urban railway infrastructure. This collaboration positioned the company to produce premium long steel products that meet rigorous international standards, supporting both national railway development and potential export opportunities.
• In June 2024, Voestalpine Wire Technology presented a newly developed wire alloy designed to serve as a cost-efficient and sustainable alternative to standard heat-treatable steels. The innovative material, developed using virtual simulation technology, offered improved formability without the need for prior soft annealing, which resulted in a reduction of carbon dioxide emissions by approximately 200 kilograms per ton during the drawing process. This breakthrough targeted applications in the fastener industry and highlighted the company's commitment to reducing the carbon footprint of its high-quality steel long products.
• In April 2024, Kametstal, a subsidiary of the Metinvest Group, successfully launched the production of SVP-33 special steel profiles intended for use in the mining industry. This product launch was part of a broader strategy to expand the company's long products portfolio, which also included the mastering of new types of hot-rolled rounds and rebar compliant with international standards. The introduction of these specific profiles allowed the manufacturer to meet the precise technical requirements of mining operations and strengthened its position in both the domestic and European markets.
• In January 2024, the Swiss Steel Group, a leading manufacturer of special long steel solutions, announced a deepened partnership with Schwäbische Formdrehteile (SFB) to advance the use of sustainable materials in the fluid technology sector. The collaboration involved an agreement for SFB to exclusively source "Green Steel Climate+" from the steelmaker's production facilities in Switzerland and Germany. This initiative was designed to minimize the environmental footprint of the supply chain by utilizing steel produced with renewable electricity, which offers a significantly lower carbon emissions profile compared to the industry average.

Key Market Players

• Nippon Steel Stainless Steel Corporation
• ArcelorMittal S.A
• China Baowu Steel Group Corp., Ltd.
• Jindal Stainless
• Outokumpu
• Aperam S.A.
• ThyssenKrupp AG
• Allegheny Technologies
• AK Steel Holdings Corporation

By Process Type	By Product Type	By Application	By Region
Basic Oxygen Furnace and Electric Arc Furnace	Rebar Wire Rod Merchant Bar Others	Construction Industrial Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Steel Long Products Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Steel Long Products Market, By Process Type:

• Basic Oxygen Furnace and Electric Arc Furnace

• Steel Long Products Market, By Product Type:

• Rebar
• Wire Rod
• Merchant Bar
• Others

• Steel Long Products Market, By Application:

• Construction
• Industrial
• Others

• Steel Long Products Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE