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Home >> Export market for TMT Steel from India looks bright

Blog
April 8, 2021admin0 Comments


EXPORT MARKET FOR TMT STEEL FROM INDIA LOOKS BRIGHT

As the second largest producer of steel in the world, India’s decades-long
expertise in areas such as sourcing of quality raw material, advanced
manufacturing technologies, adherence to quality specifications, supply chain
management, maintenance of strict delivery schedules, loading and stevedoring
and above all, fixing of competitive prices through strong negotiation will
stand the country in good stead, as India looks towards building its TMT
(Thermo-mechanically Treated) steel exports.

As of now, semis, TMT bars and rods, HRC, billets/slabs, CRC, coated products,
pipes and plates comprise around 97% of India’s steel exports, which totalled to
8.24 million tonnes in 2020.

Export Markets

Current target export markets include Japan, Belgium, Bangladesh, China, Italy,
Poland, Spain, Turkey, Vietnam, Latin America, Africa and the Middle East. These
are the key geographies that import TMT steel bars and rods from India.

A point to note is the fact that the TMT steel market in the Asia Pacific region
is expanding at a considerable pace.  The region exhibits dynamic growth in TMT
steel bar market, owing to surging construction industry and increased
investment by China. Europe is second largest market for TMT steel bar market
support and cooperation from the EU for the development of the coal and steel
industries in the Europe supplement the growth of the TMT steel bar market.

The US is also emerging as a leading consumer of these products, thanks to the
high demand from its construction and reconstruction industries, which have
several ongoing projects across the globe.

The global TMT steel market is driven by the increase in demand for reasonably
priced reinforcement bars that are used in construction projects such as
residential, commercial and infrastructure projects.

TMT Steel Market

The TMT steel bar market is segmented by diameter, by application, by grade, and
by region. On the basis of diameter, the TMT steel bar market is divided into 68
mm, 812 mm, and 12 mm & above. By application, TMT steel bar is classified into
residential, commercial, and infrastructure applications. According to grade,
TMT steel bar is bifurcated into FE-415, 550D LRF , FE-550, FE-600, and others.
Geographically TMT Steel Bar market is segmented into North America, Europe,
Asia Pacific, Middle East & Africa and Latin America.

It is heartening to note that in addition to the major steel producers, a few
medium and small steel manufacturing companies from India have also participated
in the export TMT steel bars and other steel products.

Article By: RADHA TMT
GST Number: 36AADCR6508A1ZQ 



 

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