Fior Markets launched a study titled “Global Steel Fiber Market by Type (Hooked, Straight, Deformed, Crimped, Others), Manufacturing Process, Application, Regions”,and Global Forecast 2018-2025.
The global steel fiber market is expected to grow from USD 1,985.21 Million in 2017 to USD 2,971.48 Million by 2025, at a CAGR of 5.17% during the forecast period from 2018-2025.Steel fibers demonstrate superior properties of tensile strength,shear strength, crack resistance, durability and corrosion resistance. Due to these properties steel fibers are mainly used in reinforcement of the concrete. Rising use of steel fibers in construction activities as well as global increase in infrastructure development and construction activities is driving the growth of the market.
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Straight steel fiber segment to grow at a CAGR of 7.41% in 2018-2025
Type segment is divided into hooked steel fiber, crimped steel fiber, straight steel fiber, deformed steel fiber, and others. Due to their widespread use in construction and infrastructure industry hooked fiber segment led the global demand for the steel fibers with USD 759.73 million in 2017. Owing to their high tensile strength and ability to get easily dispersed and integrated with the concrete, straight steel fiber segment to grow at a CAGR of 7.41% over the forecast period.
Cold drawn segment had a market value of USD XX.XX million in 2017
Manufacturing Process is segmented into cold drawn, sleet sheet, melt extract and others. On account of their characteristic for imparting improved mechanical properties, tensile strengths, cold drawn segment emerged as the leader with USD XX.XX million revenue in 2017.
Concrete reinforcement segment had a market value of USD 852.84 million in 2017
Application is segmented into concrete reinforcement, composite reinforcement, refractories and others. Due to superior performance of steel fiber reinforced concrete against development of cracks and crack propagation, steel fibers are increasingly being utilized in infrastructure and construction sector. Construction segment accounted for USD 852.84 million in 2017.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Rising infrastructure and construction activities led Asia Pacific region to emerge as the largest market in global demand for steel fibers with USD 677.55 million revenue in 2017. North America is also projected to account for a significant market share over the forecast period.
Major players in global steel fibers market are Arcelor Mittal, Bekaert, Fibrometals, Nippon Seisen, Zhejiang Boean Metal Products, Green Steel Group, Spajic Doo, Hunan Sunshine Steel Fiber, YuthianZhitai Steel Fiber Manufacturing, R. STAT, Ugitech S.A., IntraMicron, Inc., Ribbon Technology Corporation, HuNanHuiTong Advanced Materials CO., LTD., Fibercon International Inc among others.
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