Major drivers of the steel fiber market have been identified as supporting and expanding government regulations and advanced infrastructure. The steel fiber market is competitive and mostly dominated by large key players.
JERSEY CITY, NJ, September 14, 2022 /PRNewswire/ — Verified Market Research recently released a report, “steel fiber market” By type (crocheted steel fiber, straight steel fiber, deformed steel fiber and crimped steel fiber), by manufacturing process (wire cut/cold drawn, slit sheet, molten extract, others), By Application (Concrete Reinforcement, Composite Reinforcement, Refractories, Others) and By Geography.
According to an in-depth study conducted by Verified Industry Research on the steel fiber market, the market was valued at $2.15 billion in 2021 and is expected to reach $3.19 billion by 2030extending to a CAGR of 4.51% from 2022 to 2030.
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202 – Pages
126 – Tables
37 – Numbers
Overview of the global steel fiber market
When used with concrete, steel fibers are a form of reinforcing material that has several advantages over more traditional reinforcement. Fibers are designed to support weight and are often called structural fibers. These steel fibers are used in certain non-structural applications in place of traditional reinforcement to reduce or even completely eliminate early and late cracking. Steel fibers offer a number of advantages such as high strength, high ductility, high load bearing capacity after rupture, and many more. The type of steel fiber to be used is determined by the specific application.
The steel fiber must be carefully embedded in the reinforced concrete. If the distribution of steel fibers in the concrete mix is uneven, the strength of the resulting reinforced concrete will be reduced. The steel fiber must be mixed appropriately in order to impart the reinforced concrete with its tensile and hardness properties.
Steel fibers are used to reinforce concrete as an alternative to ordinary steel bars and to prevent the formation of fractures. The advantages that steel fibers offer over competing materials, growth in infrastructure, and government incentives for construction projects have all contributed to the growth of the steel fiber market. The steel fiber also exhibits improved matrix anchorage under substantial deformation. It is also used to convert brittle materials into ductile materials.
Government spending on construction initiatives and infrastructure growth in emerging countries is fueling the progress of the industry. It is superior to others due to features such as high impact cost, improved fatigue survival and cheap maintenance cost.
The steel fiber market is segmented into type, manufacturing process, application, and geography. In the type segment, steel fiber is expected to acquire the largest market share. On the other hand, the cut yarn segment is expected to gain the largest share from the manufacturing process segment. Concrete reinforcement is the main segment under the application. Geographically, Asia Pacific is the dominant region.
The main market players are Fibrometals, Bekaert, Nippon Seisen Co., Ltd., Green Steel Group, Ugitech SA, IntraMicron, Inc., Ribbon Technology Corporation, HuNan HuiTong Advanced Materials Co., Ltd., R. STAT SASFibercon International Inc.
Verified Market Research has segmented the global steel fiber market on the basis of type, manufacturing process, application, and geography.
- Steel Fiber Market, By Type
- Crocheted steel fiber
- Straight steel fiber
- Deformed steel fiber
- Crimped steel fiber
- Steel Fiber Market, By Manufacturing Process
- cut wire/cold drawn
- split leaf
- cast iron extract
- Steel Fiber Market, By Application
- Concrete reinforcement
- Composite reinforcement
- Steel Fiber Market, By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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