Steel fibers are synthetic fibers made mostly of steel-coated plastic, steel, plastic-coated steel, or a steel core encased in other metals. These metallic strands can be made entirely of steel or in combination with other materials. Steel fiber is a competitive market that established companies dominate. The cost of establishing a production facility is considerable, making it difficult for new competitors to enter the market. Substitutes pose a significant threat. Certain replacement materials can match steel fibers in terms of performance and cost. Steel fibers are in high demand in the construction industry, boosting the market. The infrastructure expansion is also a major growth factor for the steel fibers industry. The steel fibers market is also being driven by increased demand from end-user industries due to corrosion resistance, crack resistance, durability, and high tensile and shear strength features.
The swelling demand for steel fiber in quickly growing end-use such as building & construction, transportation, electrical, and mining are the vital factors promoting the steel fiber market . It is predominantly employed in concrete reinforcing because of the significant qualities of steel fiber reinforced concrete (SFRC), such as crack propagation and enhanced resistance to cracking. Higher costs linked with the product's running costs, on the other hand, may stifle market expansion in the coming years.
Steel Fiber Market Share, by End-Use, 2017 (%)
Source: MRFR analysis
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global steel fiber market. Asia-Pacific is estimated to dominate the global steel fiber market. This regional market is projected to grow at the highest CAGR on account of the rapidly growing construction sector. In addition, the technological advancements in the industrial sector on part of the government initiative and rapid growth of the transportation and electrical industry are expected to be the key factors driving the regional market growth in the coming years.
North America is the second largest market, in terms of value, wherein the increasing demand for steel fiber in the continuously growing reconstruction activities and mining industry in this region is expected to drive the regional market growth during the review period.
Lastly, the market in the Middle East and Africa are projected to witness a healthy growth during the forecast period on account of healthy growth of the construction sector.
The Steel Fiber market has been segmented on the basis of type, application, end-use, and region.
Based on type, the global steel fiber market has been segregated into hooked steel fiber, straight steel fiber, deformed steel fiber, and crimped steel fiber.
By application, the market has been categorized into concrete reinforcement, composite reinforcement, and refractories.
On the basis of end-use, the market has been divided into buildings & construction, transportation, mining and tunneling, flooring and pavement, and others.
The global steel fiber market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Some of the key players in the global steel fiber market are 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), among others
Dec 2021 A concrete specimen motivated by Bouligand hierarchal designs was utilized to further 3D concrete printing, according to a recent discovery published in Additive Manufacturing. The impact performance of 3D-printed concrete specimens with or without steel fibers was investigated in the drop weight impact testing. The mechanical characteristics of extrusion-based 3D printing technology have been concentrated on static behavior, with minimal emphasis on dynamic responses. Because typical steel reinforcement is difficult to include in the printer process, 3DCP research has introduced steel fibers to the printing process to improve the mechanical properties of printable concrete.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Basis of type, application, end-use, and region.|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||The rising demand of steel fibers in the construction industries is driving the market.|
|Key Market Drivers||Increasing demand for the product in the rapidly growing end-use industries such building and construction, electrical, transportation, and mining.|
Frequently Asked Questions (FAQ) :
The Asia Pacific region would score the most in the steel fiber market.
Various segments like buildings & construction, transportation, mining and tunneling, flooring and pavement, and others are profiting from the global steel fiber market.
The steel fiber market can be studied prominently using applications like composite reinforcement, concrete reinforcement, and refractories.
The high cost associated with the production of the steel fiber can deter the growth of the steel fiber market.
Steel fiber’s properties like good electric & heat conductivity, high corrosion & thermal resistance, and improved Electromagnetic Interference (EMI) shielding capabilities can ensure growth for the global steel fiber market.