Global Vs. Indian TMT Steel Bar Market: A Comparative Study

 The global construction industry has been booming, resulting in a tremendous demand for TMT steel bars. Infrastructural development and expansion of modern architecture are driving the growth of the TMT steel bar market across geographies.

Global TMT Steel Bars Market

The global TMT steel bar market is divided into North America, Asia-Pacific, Europe, and the remaining countries of the world. Asia-Pacific region has a premium share in the global TMT steel bar market. Countries like India and China are the key growth drivers. Europe is emerging as a major TMT steel bar market with a significant CAGR over the next 5 years period. The development of coal and steel industries in Europe has stimulated this development. North America, too, has been showing steady growth. It is anticipated that during 2019-2023, the global TMT steel bar market will grow by USD 10.3 billion.

India's TMT Steel Bar Market

The following companies are among the top TMT steel bar manufacturers in India:

●        ArcelorMittal SA

●        Atlas TMT Bars Pvt. Ltd.

●        Essar Steel

●        Jindal Steel & Power Ltd.

●        JSW Steel Ltd.

●        Kamdhenu Ltd.

●        MSP Steel & Power Ltd.

●        Primegold International Ltd.

●        Rashtriya Ispat Nigam Ltd.

●        Tata Steel Ltd.

Producers like Tata Steel, SAIL, Vizag Steel, Jindal Steel, and Power Limited, and JSW Steel account for a sizable chunk of the rebars market. If we zoom into specific regions, we’ll see that each of the companies like Shyam Steel, Dytron Steel, SRMB Steel, and Top Tech is emerging as a key TMT bar manufacturer in Kolkata and the rest of India.

Best TMT Bar Company

Best TMT Bar Company

As of June 2021, India has been the world's second-largest producer of crude steel, with a production of 9.4 MT. The domestic availability of raw materials such as iron ore and cost-effective labour has led to such tremendous growth of this sector, eventually boosting the domestic TMT Steel Bar market.

Domestic TMT Steel Bar Market Size

To understand India's TMT bar market, it is essential to know the facts and figures of its steel production. In FY21, crude and finished steel production was 102.49 MT and 94.66 MT, respectively. According to CARE Ratings, crude steel production will reach 112-114 MT (million tonnes). Moreover, in FY22, an increase of 8-9% YoY is anticipated. Exports and imports of finished steel stood at 3.5 MT and 1.16 MT, respectively, in FY22 (until June 2021). In April 2021, India's export rose by 121.6% YoY, compared with 2020. In FY20, India exported 8.24 MT of finished steel.

Eastern India Scenario

The following are a few top TMT bars suppliers in Kolkata:

●        TopTech TMT bars provide the most affordable TMT bars in Eastern India. It's one of the trusted names.

●        TATA Tiscon offers quality rebars that are used for earthquake-resistant construction in Eastern India. These steel rebars provide superior strength for heavy-duty structures.

●        Dytron Steel is a leading brand and surely the best TMT bar company in Kolkata when it comes to quality and affordability- both.


Other notable TMT manufacturers in Kolkata are SRMB Steel, Shyam Steel, etc. 

Location: Kolkata, West Bengal, India

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