Steel Fiber Market

The report "Steel Fiber Market by Type (Hooked, Straight, Deformed, Crimped), Manufacturing Process (Cold Drawn, Cut Wire, Melt Extract, Slit Sheet), Application (Concrete Reinforcements, Composite Reinforcements, Refractories), & Region- Global Forecast to 2029", is estimated at USD 1.96 billion in 2024 and is projected to reach USD 2.44 billion by 2029, at a CAGR of 4.5% from 2024 to 2029. The growth of the Steel fiber Market is being driven by a number of factors, including increasing demand from construction industry, high tensile & shear strength of steel fiber compared to synthetic fibers, increasing demand for steel fibers in automotive composites. The surge in usage of glass and synthetic fibers and high cost of steel fibers over traditional reinforcement materials could hinder market growth. Technological advancements and innovation in manufacturing techniques, will boost the Steel fiber Market.

Browse 166 market data Tables and 58 Figures spread through 226 Pages and in-depth TOC on "Steel Fiber Market by Type (Hooked, Straight, Deformed, Crimped), Manufacturing Process (Cold Drawn, Cut Wire, Melt Extract, Slit Sheet), Application (Concrete Reinforcements, Composite Reinforcements, Refractories), & Region- Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/steel-fiber-market-222903687.html

Hooked type segment accounted for largest market share o by type steel fiber market in 2023.

Numerous end-use industries, including refractories, composite reinforcement, and concrete reinforcement, use hooked end steel fibers. These fibers find employment in a variety of settings, including equipment foundations, blast-resistant concrete, airport pavements, and industrial slabs. Foam steel fiber demand is rising since there is an increased need for sustainable and lightweight materials. Between 2024 and 2029, there will be a sharp increase in demand for foam steel fiber across a range of end-use industries due to the revival of the supply chain and OEMs beginning full operations.

Cold Drawn segment accounted for largest market share of by the steel fiber market in 2023.

Pulling the steel wire through a die reduces its diameter in cold drawing. This process yields superior fibers with improved mechanical properties, dimensional accuracy, and surface smoothness, making them ideal for increasing concrete's strength. Hooked steel fibers are often made from cold-drawn fibers due to their excellent pullout behavior and bonding. This method allows the use of less expensive materials while maintaining strength standards.

Concrete reinforcement segment accounted for largest market share of by steel fiber application market in 2023.

Concrete reinforcement is used in flooring, roof slabs, bridges, water tanks, sports arenas, conference rooms, tunnel lining, dams, canal lining, and blast-resistant buildings. Tunnel lining and flooring applications have the largest demand for steel fiber in concrete reinforcing applications. Steel is added to concrete to provide concrete reinforcement, which combines the two materials' resistance to stresses. Since plain concrete cannot endure the tensile and shear loads brought on by natural disasters like earthquakes, winds, and vibrations, reinforced concrete is frequently employed in their place.

Asia Pacific region is expected to register the highest CAGR in terms of value during the forecasted period.

The carbon fiber market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Asia Pacific led the steel fiber market, in terms of value, in 2023 and is projected to register a CAGR of 4.8% between 2024 and 2029. The Asia Pacific steel fiber market is expanding due to increased demand in a variety of applications, including reinforcing concrete, composites, and refractories. Steel fibers are extensively employed in the building and construction industries. China, India, Japan, and South Korea dominate the markets in these end-use sectors. The steel fiber market is expanding due to an increasing emphasis on sustainable building materials in various countries. These materials can be sourced from recycled steel. Increased investment in the building and construction industries has also led to the expansion of the steel fiber market.

Key players

Prominent companies include Bekaert (Belgium), ArcelorMittal (Luxembourg), Nippon Seisen Co., Ltd. (Japan), Fibrometals (Romania), Sika AG (Switzerland), Jiangsu Shagang Group Co., Ltd.(China), Zhejiang Boen Metal Products Co., Ltd. (China), Green Steel Group (Italy), Spajic Doo (Serbia), Kosteel Co., Ltd. (South Korea), Severstal (Russia), Enviromesh Pty ltd. (Australia), Hunan Shuanxing Steel Fiber Co., Ltd. (China), and Kerakoll SPA (Italy) among others.

Don’t miss out on business opportunities in Steel Fiber Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]