Global Steel Fiber Market 2024, Forecast To 2033
26 Feb, 2024
The steel fiber market has exhibited strong growth, rising from $2.19 billion in 2023 to $2.37 billion in 2024, with a CAGR of 8.6%. This growth is linked to growing infrastructure, supportive government policies, and increased adoption of steel fiber reinforcement in the construction industry. Forecasts suggest strong growth to $3.21 billion in 2028, with a CAGR of 7.9%. The projected growth is driven by expansion in the transportation sector, increasing urbanization, a growing need for durable and sustainable infrastructure solutions, and the rising trend of precast construction.
Global Steel Fiber Market Key Driver
The steel fiber market is set to grow with the rapid expansion of the construction industry, which is estimated to reach $14 trillion by 2025. Steel fibers are widely used in construction due to their superior properties, contributing to increased demand in various applications.
Get A Free Sample Of The Global Steel Fiber Market ReportGlobal Steel Fiber Market Segments
The steel fiber market covered in this report is segmented –
1) By Type: Hooked, Straight, Deformed, Crimped
2) By Application: Concrete Reinforcement, Composite Reinforcement, Refractories
3) By End User: Polymer, Chemical, Pharmaceutical, Aircraft/Maritime/Machine, Measuring & Instrumentation Devices, Other End-Users
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the steel fiber market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steel fiber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Steel Fiber Industry Players
Arcelor Mittal SA; N. V. Bekaert S. A.; Fibro Metals SRL; Nippon Seisen Co. Ltd.; Zhejiang Boean Metal Products Co. Ltd.; Green Steel Poland Sp. z o. o.; Spajic Doo; Hunan Sunshine steel fiber co. Ltd.; Yuthian Zhitai Steel fiber Manufacturing Co. Ltd.; R. STAT; Ugitech S. A; Intra Micron Inc.; Kosteel Co. Ltd.; Junwei Metal Fiber Co. Ltd.; Maccaferri SpA; The Euclid Chemical Company; Henan Green Polymer Co. Ltd.; Nycon Corp.; Jiangsu Daqi Metal Surface Treatment Co. Ltd.; Fabpro Polymers Inc.; Cangzhou Daye Metal Fiber Co. Ltd.; Onward Chemicals Pvt. Ltd.; Ribbon Technology Corporation; Fibercon International Inc.; Stewols India Ltd.; Bekaert Corporation; Euclid Chemical Co.; Steelcon Pty Ltd.; Hengyang Steel Fiber Co. Limited; Steel Wire Corporation of America; Zibo Tenran Steel Fiber Co. Ltd
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Steel Fiber Market Overview
Steel fiber refers to steel strips with short ends that have been specially manufactured to strengthen the concrete by resisting tensile cracking and are used to replace traditional reinforcement in certain non-structural applications as well as minimize cracking by providing good impact strength, high load-bearing capability after being cracked, good ductility, and high resistance.
Steel Fiber Global Market Report 2023 provides data on the global steel fiber market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The steel fiber market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.