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Wahid Tamboli | 21.02.2019

Steel Fiber Market is expected to witness a CAGR of more than 5.0% between 2018 and 2023

Steel Fiber Market expected to be valued at USD 2.5 Billion by 2023, at a CAGR of 5.0%, during 2018–2023

The [103 Pages report] "Steel Fiber Market by Type (Hooked, Straight, Deformed, Crimped), Application (Concrete, Composite, Refractories), Manufacturing Process (Cut Wire/Cold Drawn, Slit Sheet, Melt Extract), and Region - Global Forecast to 2023" The steel fiber market is projected to grow from the estimated USD 2.0 billion in 2018 to USD 2.5 billion by 2023, at a CAGR of 5.0% between 2018 and 2023. The market is growing due to the high demand from infrastructure and construction industries. Steel fiber is used in these industries as they exhibit properties such as superior tensile strength, crack resistance, durability, corrosion resistance, and high shear strength.

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  • Attractive Opportunities in the Steel Fiber Market

  • Steel Fiber Market, By Application

  • Steel Fiber Market, By Type

  • Steel Fiber Market, By Manufacturing Process and Region

  • Steel Fiber Market, By Country

Hooked steel fiber is expected to account for the largest share of the overall steel fiber market.

Steel fiber comes in five types – hooked steel fiber, crimped steel fiber, straight steel fiber, deformed steel fiber, and others. The hooked steel fiber segment is expected to lead the overall steel fiber market during the forecast period. Hooked steel fiber is used in concrete reinforcement in hydraulic structures, airport and highway paving, industrial floor, refractory concrete, bridge decks, shotcrete linings, and explosion resistant structures. Hooked steel fiber substantially enhances initial crack strength and provides post-crack strength. Hooked steel fiber forms stronger joints, which results in low maintenance of the structure.

Concrete reinforcement is projected to be the largest application of steel fiber during the forecast period.

Steel fibers are being increasingly used in the construction industry as it is used in flooring, tunnel lining, precast, shotcrete, and so on. Steel fiber is used in concrete reinforcement, composite reinforcement, refractories, and others. They are majorly used in concrete reinforcement application. Steel fiber offers high tensile strength, durability, corrosion resistance, crack resistance, and high shear strength. Owing to these properties, they are used in the construction of flooring, tunnel lining, heavy duty pavements, precast, shotcrete, and others.

APAC is expected to lead the steel fiber market during the forecast period.

APAC is the biggest steel fiber market. The region is witnessing high growth of the steel fiber market. Majority of the steel fiber manufacturers across the region are constantly involved in improving the quality of the product. The manufacturers are adopting various growth strategies to strengthen their position in the market. The region has some of the prominent steel fiber manufacturers such as Yuthian Zithai Steel Fiber Manufacturing Co. Limited.

The major players in the Steel Fiber Market include Arcelor Mittal (Luxembourg), Bekaert (Belgium), Fibrometals (Romania), Nippon Seisen (Japan), Zhejiang Boean Metal Products (China), Green Steel Group (Italy), Spajic Doo (Serbia), Hunan Sunshine Steel Fiber (China), Yuthian Zhitai Steel Fiber Manufacturing (China), and R. STAT (Saint-Jean-Bonnefonds).

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