Steel Fiber Market Size, Share & Industry Analysis, By Materials (Hooked, Straight, Deformed, Others), By Application (Concrete reinforcement, Composite reinforcement, Refractories, Others), and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The global steel fiber market is seeing remarkable growth, with a significant CAGR forecasted throughout the period up to 2032. Steel concrete reinforcement fibres are classified as short, discrete lengths of steel fibres with an aspect ratio (length to diameter ratio) of approximately 20 to 100, with different thicknesses. These fibres are sufficiently small to be uniformly distributed using the normal blending procedures in an unenameled concrete composition.
Steel fiber is increasingly used in construction industries owing to its compression strength, splitting tensile strength and flexural strength. With the growth of infrastructure in the developing and developed economies, major investments have been made in the building of highways, buildings and channel for river banking. These civil infrastructure projects boost the usage of durable and cost-effective steel fibre materials. However, steel fibres are made from different proportions of steel and synthetic fibres, which leads to the different properties. The difference in concrete strength and corrosion resistance impacts the overall performance. Such factors restrains the steel fiber market growth.
Steel Fiber Market Segmentation Analysis:
Based on product type, the market for steel fiber is further segmented into hooked, straight, deformed, and others. Based on application, the market for steel fiber is further segmented into concrete reinforcement, composite reinforcement, refractories, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increasing application in construction industries is driving the market.
Key Market Restraint -
Indefinite proportions result in lack of performance thus restrict the industry growth.
Key Players Covered:
- Arcelor Mittal
- Bekaert, Fibrometals
- Nippon Seisen
- Zhejiang Boean Metal Products
- Green Steel Group
- Spajic Doo
- Hunan Sunshine Steel Fiber
- Yuthian Zhitai Steel Fiber Manufacturing
- R. STAT
- Others
Key Insights
The steel fiber report will cover the following key insights:
- Key Emerging Trends – For Major Regions
- Key Developments: Mergers, Acquisitions, Partnerships, and Others
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Market
Regional Analysis:
Asia Pacific dominates the demand for steel fiber in 2019. High demand for steel fibers across the construction industries have fuelled the market growth in the region. The efficient features such as resistance to cracking, elevated tensile strength, and toughness has led to the increasing demand for the product. Emerging economies such as China and India are prominent consumers of steel fibre, due to growing investments in the infrastructure projects. North America represents the second largest share of the global steel fiber market, owing to the favorable growth showcased by the construction industry in the U.S. Europe is at the forefront of steady business growth. Increasing adoption of steel fibre in industrial flooring, warehouses, parking lots, motor roads and other end use industries has boosted the growth of market in European countries. Germany is expected to be the fastest growing markets for steel fibres. Latin America, Middle East and Africa have witnessed steady growth in the global steel fibre industry attributed to the substantial growth in the construction sector.
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Segmentation Analysis
ATTRIBUTES | DETAILS |
By Materials |
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By Application |
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By Geography |
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- Ongoing
- 2023
- 2019-2022
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