Steel Fiber Market Growth, COVID-19 Overview, Demand and Industry Overview 2023

Steel Fiber Market Overview

The manufactured fibers which mainly composed of steel, metal-coated plastic, plastic-coated steel, or a steel core. The steel fibers are generally produced from the steel alone or in combination with other substances. The filaments below 100 µm in diameter are considered as fibers. The product exhibits substantial physical and electrical properties such as high corrosion and thermal resistance good electric and heat conductivity, and excellent Electromagnetic Interference (EMI) shielding capabilities. These types of metal fibers are widely used throughout various consumer and industrial applications such as construction, transportation, and mining.

Based on type, the global steel fiber market size has been segmented into hooked steel fiber, straight steel fiber, deformed steel fiber, and crimped steel fiber. The hooked steel fiber held the largest share of this market owing high demand for the product in the concrete reinforcement for building bridges, hydraulic structures, high pavements, and explosion resistance structures.

By application, the market is categorized into concrete reinforcement, composite reinforcement, and refractories. Among these applications, the concrete reinforcement segment accounted for the largest market share in 2017. This mainly attributed to the substantially high demand for the product in reducing the negative impacts of brittleness of a concrete and in turn increase the overall strength of the structure. Owing to the high thermal stability of the steel fibers, it has significantly used in manufacturing refractories.

On the basis of end-use, the global steel fiber market analysis has been categorized into buildings & construction, transportation, mining and tunneling, flooring and pavement, and others. The buildings and construction industry is the largest consumer of steel fibers owing to various structural and functional benefits such as high strength, resistance to shock and vibrations, shielding against EMI and RFI.

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Steel Fiber Market Segmentation

The global COVID-19 analysis Steel Fiber market has been segmented on the basis of type, application, end-use, and region.

Based on type, the global steel fiber industry 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.

Steel Fiber Market Regional Analysis

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. The market in Asia-Pacific is anticipated to grow at a highest CAGR owing to the rising product demand in the building & construction, transportation and electrical industries. North America is expected to witness significant growth during the forest period. This is mainly due to the growing demand for the product in the reconstruction activities.

Steel Fiber Market Competitive Analysis

The leading players in the global steel fiber market growth 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.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.