Posted on 29 Jan 2025
Singapore’s demand for steel rebar is forecast to grow this year thanks for construction projects in the country, Kallanishnotes.
Infrastructure and public housing construction projects are among the activities which are expected to continue and bolster construction demand for the next few years, says Singapore’s Building & Construction Authority (BCA).
Construction demand rose to SDG 44.2 billion ($32.69bn) in 2024, based on preliminary data, and is expected to continue to grow to between SDG 47-53bn in 2025.
The contracts awarded are from the public and private residential, civil engineering, industrial, commercial and institutional/others sectors. The contracts awarded amounted to SDG 34.2bn in 2023.
Rebar demand has been steadily growing and the construction authority forecasts that rebar demand will reach 1.6-1.9m tonnes in 2025. (see table).
"Over the medium-term, a steady stream of infrastructure projects, ongoing ramp-up in public housing construction, large-scale institutional developments, and vibrant urban rejuvenation projects will provide significant impetus to (Singapore's) construction landscape," says BCA.
Source:Kallanish
