Steel Fiber Market: Summary
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.
Steel Fiber Market: Drivers & Challenges
- Development of Infrastructure With Supportive Government Policies
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.
- Synthetic Fibers Replacing Steel Fibers In Certain Applications
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.
Steel Fiber Market: Key Segments
- Segmentation based on type: Hooked Steel Fiber, Straight Steel Fiber, Crimped Steel Fiber, Deformed Steel Fiber, and Others
- Segmentation based on processing method: Cut Wire/ Cold Drawn, Slit Sheet, Melt Extract, and Others
- Segmentation based on application: Concrete Reinforcement, Composite Reinforcement, Refractories, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Steel Fiber Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million) and Volume (Kiloton)
Type, Manufacturing Process, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- ArcelorMittal (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Nippon Seisen Co., Ltd.
- Green Steel Group
- Ugitech S.A.
- IntraMicron, Inc.
- Ribbon Technology Corporation
- HuNan HuiTong Advanced Materials CO., LTD.
- R. STAT SAS
- Fibercon International Inc
- Other Key Companies
Steel Fiber Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Steel Fiber Market, by Type
- Hooked Steel Fiber
- Straight Steel Fiber
- Crimped Steel Fiber
- Deformed Steel Fiber
Steel Fiber Market, by Manufacturing Process
- Cut Wire/ Cold Drawn
- Slit Sheet
- Melt Extract
Steel Fiber Market, by Application
- Concrete Reinforcement
- Composite Reinforcement
Steel Fiber Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Steel Fiber Market Providers
- Steel Fiber Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Steel Fiber Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STEEL FIBER MARKET STUDY