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The Steel Fiber Market report has been segmented on the basis of type, manufacturing process, application, end-use industry, and region.
Global Steel Fiber Market: Overview
“The Steel Fiber Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Steel fiber is used to control crack propagation and helps in transforming a brittle material into a ductile material. Steel fiber offers various features such as stronger joints, reduced joint spalling, high impact strength, low maintenance costs, high fatigue endurance, and long shelf-life.
Global Steel Fiber Market: Dynamics
Rising demand for steel fiber in the construction sector owing to its properties such as corrosion and crack resistance, high impact strength, and others is a major factor expected to drive the growth of the global steel fiber market in the next coming years.
Additionally, increasing demand for the product from the electrical and transportation sectors is another factor anticipated to fuel the growth of the steel fiber market over the forecast period.
Moreover, rapid urbanization coupled with increasing adoption of products in various end-use industries, are among some other factors projected to drive revenue growth of the steel fiber market to a certain extent over the long run.
However, high operating and production costs are key factors that may restrain the growth of the potential market over the forecast period.
In addition, synthetic fibers used in many applications are expected to be another factor challenging the growth of the target market.
Growing increasing investments in infrastructure in emerging economies are anticipated to create lucrative opportunities for the manufacturers of steel fiber and are expected to support revenue growth of the target market.
Global Steel Fiber Market: Segment Analysis
Among the type, the hooked steel fiber segment is expected to hold the highest revenue share in the potential market in the next coming years as it can be easily available and affordable. Among manufacturing processes, the cut wire/cold drawn segment is anticipated to register for significant revenue share in the potential market owing to reduce the cost of owner and prevention of counterfeits.
Among applications, the concrete reinforcement segment is estimated to account for the maximum share in terms of value in the target market, owing to its various properties such as durability, high shear, tensile strength, corrosion-resistant, and others.
Among the end-use industry, the building & construction industry segment is expected to register the highest revenue share in the target market during the forecast period owing to crack-resistant, durability, and other properties.
Global Steel Fiber Market: Regional Analysis
The Asia Pacific steel fiber market is estimated to hold the highest share in terms of value and volume and is expected to dominate the target market in years to come.
Growing infrastructure, transportation, and electrical sector coupled with an increasing number of government initiatives are among some major factors expected to fuel the growth of the steel fiber market in the Asia Pacific.
The Asia Pacific market is projected to grow at a faster rate over the forecast period, owing to the presence of key players in the countries in this region.
The steel fiber market in North America is anticipated to register for moderate revenue share over the forecast period, followed by Europe's steel fiber market. The market in Europe is expected to grow at a moderate rate in the steel fiber market in the next coming years.
Global Steel Fiber Market Segmentation:
Segmentation on the basis of Type:
- Hooked Steel Fiber
- Straight Steel Fiber
- Crimped Steel Fiber
- Deformed Steel Fiber
Segmentation on the basis of Manufacturing Process:
- Cut Wire/ Cold Drawn
- Slit Sheet
- Malt Extract
Segmentation on the basis of Application:
- Concrete Reinforcement
- Composite Reinforcement
Segmentation on the Basis of End-Use Industry:
- Building & Construction
- Mining & Tunneling
- Flooring and Pavement
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- NV Bekaert SA
- Fibro Metals SRL
- Nippon Seisen Co., Ltd.
- Green Steel Group
- Spajic DOO
- Hunan Sunshine Steel Fiber Co., Ltd.
- Yutian Zhitai Steel Fiber Manufacturing Co., Ltd.
- STAT SAS
- Stewols India Pvt. Ltd.
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