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According to the industry analysts, the government's attempts to support sustainable and high-quality infrastructure are anticipated to be major drivers of the domestic market for Thermo-Mechanically Treated (TMT) bars in India. India boosted its use of TMT bars from 46 MT in the previous fiscal year to 50.3 MT in FY23. Domestic manufacturers produced 51 MT of TMT bars in FY23 as compared to 47.2 MT in FY22.
"As the construction industry in India continues to evolve, the upward trajectory in the use of TMT bars is expected to persist, driving advancements in building technology and contributing to the development of resilient and sustainable infrastructure across the nation," Shashikant Agarwal, CEO of Hyderabad-brd Sri Navdurga Billets, said.
“The construction industry is increasingly turning to TMT bars to meet the evolving structural needs. TMT bars, known for their superior strength, durability, and earthquake-resistant properties, have become the material of choice for engineers and builders across India, mainly due to the numerous advantages that TMT bars offer over traditional reinforcement materials,” Agarwal added.
Manufactured through a specialised process, TMT bars are engineered to withstand various construction demands, from residential structures to large-scale infrastructure projects. TMT bars also present a cost-effective solution for construction with extended lifespan and minimal maintenance.
"The demand for TMT rebars in India will continue to grow over the next three to four months. There is a good demand seen from the construction, housing, and infrastructure segments, where new projects are coming up all over the country," a senior Tata Steel executive had said in December.
"Besides, there is consistency in government policies. So, sentiments are also high among the investors,” he added. In 2022-23, India's total steel output was 123 million tonnes (MT), of which 52 MT were TMT bars and rods.
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