The Steel Fiber Market, valued at USD 4.3 billion in 2022, is projected to witness significant growth, reaching USD 6.25 billion by 2032, with a compound annual growth rate (CAGR) of 4.25% during the forecast period (2023 - 2032).
Click here to get more.
Steel fibers are manufactured fibers primarily composed of steel, plastic-coated steel, or steel cores coated with other metals. The increasing demand for steel fiber across various industries such as construction, mining, electrical, and transportation is expected to drive the global steel fiber market growth. Steel fibers are extensively utilized in concrete reinforcement due to their notable properties, including high resistance to cracking and crack propagation.
The construction industry has experienced rapid expansion due to factors such as sustainable construction practices, emission regulations, and the rise of green buildings, which present lucrative opportunities for the market. However, the relatively high operating costs of steel fiber products may somewhat restrain market growth in the coming years.
The global steel fiber market is witnessing a surge in mergers and acquisitions, with consolidation prevalent across significant domestic industries. Companies are benefiting from profitable balance sheets, private equity investments, and institutional capital pools. For instance, ArcelorMittal (Europe) announced a three-year USD 1 billion investment program for Mexico in 2017.
Market Segmentation:
The steel fiber market is segmented based on type, application, and end-user.
- Types of steel fiber include hooked, straight, deformed, and crimped steel fibers. Hooked steel fiber holds the largest market share, driven by demand in concrete reinforcement for hydraulic structures, bridges, explosion-resistant structures, and high pavements.
- Applications of steel fiber encompass concrete reinforcement, refractories, and composite reinforcement. Concrete reinforcement accounted for the largest market share in 2017 due to high demand for mitigating concrete brittleness and enhancing structural strength.
Get Report Sample Copy: https://www.marketresearchfuture.com/sample_request/7296
- End-users in the #steelfiber market include building & construction, transportation, mining and tunneling, flooring and pavement, among others. Building and construction is the largest consumer segment due to structural and functional benefits such as shock and vibration resistance, high strength, and protection against electromagnetic interference (EMI) and radio frequency interference (RFI).
Regional Outlook:
Regionally, the global steel fiber market covers Asia-Pacific, Latin America, Europe, North America, and the Middle East & Africa.
Asia-Pacific leads in growth rate, driven by the expanding construction sector, technological advancements in manufacturing supported by government initiatives, and the rapid growth of end-user industries such as electrical and transportation. Continuous efforts by manufacturers to enhance product quality further contribute to the region's market dominance.
North America has witnessed significant growth in the steel fiber market, attributed to rising demand across various industries including textiles, construction, and infrastructure.
Europe remains a strong contender in the global market, with regional players expanding their presence. For instance, Bekaert (Belgium) established a sale and distribution joint venture with Maccaferi, promoting steel fiber products particularly in underground construction applications.
The Middle East and Africa market is experiencing moderate expansion due to the availability and affordability of steel fiber, along with booming construction and infrastructure industries.
Top Players:
Key players in the global steel fiber market include Fibrometals (Romania), Bekaert (Belgium), Nippon Seisen Co., Ltd. (Japan), Green Steel Group (Italy), Ugitech S.A. (France), IntraMicron, Inc. (US), Ribbon Technology Corporation (US), HuNan HuiTong Advanced Materials CO., LTD. (China), R. STAT SAS (France), and Fibercon International Inc. (US).
SFRC
well contains other products and information you need, so please check it out.
Overview
History
of SFRC
The concept of using fibres as reinforcement is not new. Fibres have been used as reinforcement since ancient times. Historically, horsehair was used in mortar and straw in mudbricks .
In the 1900s, asbestos fibres were used in concrete. In the 1950s, the concept of composite materials came into being and fibre-reinforced concrete was one of the topics of interest. Once the health risks associated with asbestos were discovered, there was a need to find a replacement for the substance in concrete and other building materials.
If you are looking for more details, kindly visit steel fiber supplier.