Global Steel Fiber Market: Key Highlights
Global Steel Fiber Market: Key Market Dynamics
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Global Steel Fiber Market: Regional Overview
Asia-Pacific is expected to account for the largest share in the global steel fiber market during the forecast period, owing to development in the building and construction sector coupled with an increased focus on public infrastructure is the key regional growth driver. Infrastructure spending in India and China is expected to witness rapid growth wherein the construction of expressways, airports, and rails are projected to register a high demand for steel fiber products. Moreover, there are multiple large steel fiber manufacturers, which are present in the Asia-Pacific region, such as Nippon Seisen, Zhejiang Boean Metal Products, Hunan Sunshine Steel Fiber, and Yuthian Zhitai Steel Fiber Manufacturing which is likely to drive Asia-Pacific steel fiber market.
North America is expected to accounting second-largest share in the global Steel Fiber market cowing to continuously growing reconstruction activities and mining industry in this region is expected to drive the regional market growth during the forecasted period.
Global Steel Fiber Market: Key Players Overview
ArcelorMittal is a holding company together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. The company operates through four business segments namely NAFTA, ACIS, Brazil, and Europe. The company has 209,000 employees across 60 countries globally. In July 2020, ArcelorMittal and Nippon Steel's joint venture, namely AM/NS Indiaβ, wonβ the Deal of the Year Award from the S&P Platts 2020 Global Metals Awards for completing the $5.7 billion acquisition of Essar Steel India Limited last year, a fully integrated steel producer in India that entered insolvency in 2017.
Bekaert is a Belgium-based company that operates in the field of market and technology solutions for steel wire transformation and coatings. Its products are applied in the automotive, construction, energy and utilities, agricultural, consumer goods, basic materials and equipment industries. In July 2020, Bekaert announced to move its US production activities to a larger, modern facility in Wilkes-Barre, Pennsylvania to To meet the growing demand for Dramix steel fiber concrete reinforcement.
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