The Global Steel Fiber Market is projected to reach a value of over USD 3.1 billion by 2027 at a CAGR of around 5.1%.
Steel Fiber is composed of steel, steel-coated plastic, plastic-coated steel, or a steel core covered with other metals. Steel fibres are added to mortar, Portland cement concrete or refractory concrete, to increase the flexural strength from 25% to 100% depending on the proportion of fibres added and the mix design. The superior physical and electrical properties of the steel fibers are high corrosion and thermal resistance, good electric and heat conductivity, and excellent Electromagnetic Interference (EMI) shielding capabilities. The stainless-steel fibers are widely used throughout various consumer and industrial applications such as construction, transportation, and mining.
Market Driver:
The increasing infrastructural activity in developed and developing countries, the commercial building as well as construction on roads & highways have witnessed huge investment. These infrastructural activities enhancement the demand for steel fiber materials due to it is a cost-effective and long-lasting solution. Infrastructure sector is a key driver for the all counties economy. The sector is highly responsible for propelling any country overall development and enjoys intense focus from the Government for initiating policies that would ensure time-bound creation of world-class infrastructure. The developing and developed countries are investing to secure long-term future growth, and their aim toward socio-economic benefits is supporting the growth of the steel fiber market. For Instance, India requires investment worth USD 777.73 billion in infrastructure by 2022 to have sustainable development in the country. This is expected to create a huge market opportunity for the key players in the steel fiber market.
Market Restraint:
Synthetic fibers are made from small molecules synthesized polymers. The substances used to produce such fibres are extracted from raw materials such as chemicals based on petroleum or petrochemicals. Steel fiber and synthetic fiber have entirely different properties. For airport runways, steel fibers are used, but for individual projects, synthetic fibers are also used. Steel fibers have a high modulus and a high resistance in traction, which means they are not effective against cracks, while the synthetic fibers have a low Young modulus ranging between 3 and 5GPa and are reactive to potential cracks at an early stage. Moreover, certain disadvantages associated with steel fiber such as concrete strength and corrosion hampering the market growth up to a certain extent.
The report on the Steel Fiber market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) and Volume (Kiloton) |
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Segments Included |
Type, Manufacturing Process, Application, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Steel Fiber Market, by Type
Steel Fiber Market, by Manufacturing Process
Steel Fiber Market, by Application
Steel Fiber Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STEEL FIBER MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
