Steel Fiber Market Size, Industry Share Forecast [Latest]
Aug. 06, 2024
Steel Fiber Market Size, Industry Share Forecast [Latest]
Updated on : June 27,
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Global Steel Fiber Market
Steel Fiber Market was valued at USD 1.96 billion in and is projected to reach USD 2.44 billion by , growing at 4.5% cagr from to . Increasing construction and infrastructural development across Asia Pacific, Middle East & Africa is increasing the demand for steel fibers.
Steel fibers are thin, elongated steel strands measuring 0.5-1.5mm in diameter and up to 50mm in length. They are added to concrete, mortar, or shotcrete mixtures to increase their tensile strength, toughness, and crack resistance. The fibers are randomly distributed throughout the matrix, generating a three-dimensional network of reinforcement that minimizes crack propagation and increases the overall durability and load-bearing capability of the composite material.
Attractive Opportunities in Steel Fiber Market Trends
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Steel Fiber Market Dynamics
Driver: Increasing demand for steel fibers in construction & building industry
China, India, and other Southeast Asian countries are seeing steady population growth. The need for residential and commercial structures rises in tandem with population growth. Steel fiber reinforced concrete is an ideal choice for high-rise buildings and other constructions that demand more structural strength and crack resistance than conventional materials. As a result, it has become a preferred option for such constructions.
Builders, architects, and engineers are adopting sustainable construction methods. Steel fibers manufactured from recycled steel are a better alternative to synthetic fibers. Steel fibers require fewer repairs, which reduces resource use.
Restraint: Surge in use of glass and synthetic fibers
The usage of conventional materials like synthetic and glass fibers, which have been around for a while and are well-known to engineers and contractors for use in concrete reinforcement, is one of the main factors restricting the expansion of the steel fiber trade. This familiarity may cause one to favor different kinds of reinforcing materials. Because the benefits of steel fibers over conventional materials are not well known, traditional materials are being used in construction projects.
Opportunity: Research and development of new manufacturing techniques
Research & development spending in the fields of manufacturing technologies and material science is expanding quickly. This opens up new possibilities for improving the mechanical characteristics of steel fibers.
A current research focus is on the investigation of high-performance steel fibers in combination with silica fumes or fly ash. It is anticipated that this combination will improve the concrete's flowability and mechanical qualities. Furthermore, it has been demonstrated that adding nano-silica enhances the mechanical qualities of steel fiber reinforced concrete even more.
Challenge: Susceptibility of steel fibers to corrosion
Despite efforts to increase their resilience, steel fibers are susceptible to corrosion. Their corrosion resistance may be impacted by the manufacturing method; melt extract or cold-drawn wire are less resistant to corrosion than mill-cut fibers. Corrosion can also be caused by the kind of steel fiber that is utilized, the existence of chloride ions, and the surface and size of the fibers. Important players in the steel fiber industry must make significant investments in R&D to create new and enhanced corrosion-resistant steel fibers in order to address this problem.
Steel Fiber Market Ecosystem
Based on the Application, the composite reinforcement application segment is estimated to account for the highest CAGR in the Steel fiber market share during the forecast period.
The use of steel fiber in composite reinforcement aims to improve the mechanical characteristics of composite materials, including their toughness, strength, and stiffness. Because steel fibers offer better anchoring between fibers and the matrix, they are frequently utilized in composite reinforcement, which improves pull-out resistance and structural performance. Specialized steel fibers with hooks are preferred because of their anchoring systems. Due to the importance of this application segment in a variety of industries needing high durability and tensile strength, steel fiber demand in composite reinforcement applications has expanded. Applications for reinforced composite are found in the sports and leisure and textile industries. It has a very low water-absorbent quality and is recyclable. Stainless steel fiber is utilized for reinforcing in composites.
Based on type, Hooked type is anticipated to register the highest CAGR in the Steel fiber market.
Numerous end-use industries, including refractories, composite reinforcement, and concrete reinforcement, use hooked end steel fibers. In these application areas, the product's overall structural integrity is improved through the employment of hooked end steel fiber. These fibers find employment in a variety of settings, including equipment foundations, blast-resistant concrete, airport pavements, and industrial slabs. Generally, hooked end steel fiber has a density of 7.8 g/cm3. Depending on the production technique and the alloy used to create the hooked steel fiber, the density may change slightly.
Based on manufacturing process, cold drawn is anticipated to register the highest CAGR in the Steel fiber market.
Pulling steel wire through a die reduces the diameter of the wire, producing higher mechanical properties, dimensional accuracy, and surface finish in cold-drawn steel fiber. Excellent surface finishes and precise tolerances are provided by this cost-effective technique for a range of applications. Cold drawing provides better dimensional tolerance, surface finish, and precision than alternative manufacturing processes like hot extrusion. Hooked steel fibers are often made from cold-drawn fibers due to their excellent pullout behavior and bonding.
Asia Pacific to hold the largest market share during the forecast period.
The major markets for steel fiber are in Asia Pacific, followed by North America and Europe. The rising urbanization and industrialization of the Asia Pacific region, coupled with significant expenditures in the building and construction sector, are the primary drivers of market expansion. An additional driver of economic expansion is the growing populace of China and India. The purchasing power parity (PPP) measure of the global gross domestic product (GDP) places the region at nearly one-third of the total.
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Steel Fiber Market Players
The Steel fiber market is dominated by a few globally established players. The major active players in the market are Bekaert (Belgium), ArcelorMittal (Luxembourg), Nippon Seisen Co., Ltd. (Japan), Fibrometals (Romania), Sika AG (Switzerland), Jiangsu Shagang Group Co., Ltd. (China), Zhejiang Boen Metal Products Co., Ltd. (China), Green Steel Group (Italy), Spajic Doo (Serbia), Kosteel Co., Ltd. (South Korea), Severstal (Russia), Enviromesh Pty Ltd. (Australia), Hunan Shuanxing Steel Fiber Co., Ltd., and Kerakoll SPA (Italy), among others, are the main producers who have won significant contracts recently. Since global requirements are changing, contracts and new product development have received the majority of attention.
These companies are attempting to establish themselves in the Steel fiber market by employing a range of inorganic and organic approaches. A thorough competitive analysis of these major Steel fiber market participants is included in the research, along with information on their company profiles, most recent advancements, and important market strategies.
Read More: Steel Fiber Companies
Steel Fiber Market Report Scope
Report Metric
Details
Market size available for years
Base year considered
For more Steel Fiber Manufacturerinformation, please contact us. We will provide professional answers.
Forecast period
Units considered
Value (USD Million), Volume (Kiloton)
Segments Covered
By Type, By Application, By Manufacturing Process, and By Region
Geographies covered
Europe, North America, Asia Pacific, Latin America, Middle East, and Africa
Companies covered
Bekaert (Belgium), ArcelorMittal (Luxembourg), Nippon Seisen (Japan), Fibrometals (Romania), Sika AG (Switzerland), Jiangsu Shagang Group (China), Zhejiang Boen Metal Products Co., Ltd. (China), Green Steel Group (Italy), Spajic Doo (Serbia), Kosteel Co., Ltd. (South Korea), Severstal (Russia), Enviromesh Pty ltd. (Australia), Hunan Shuanxing Steel Fiber Co., Ltd. (China), and Kerakoll SPA (Italy).
The study categorizes the steel fiber market based on Type, Application, Manufacturing Process, and Region.
Steel Fiber Market by Type
- Hooked
- Straight
- Deformed
- Crimped
- Others (Arched, Corrugated, Double Arched, etc.)
Steel Fiber Market by Manufacturing Process
- Cut Wire
- Cold Drawn
- Slit Sheet
- Melt Extract
- Others
Steel Fiber Market by Application
- Concrete
- Composites
- Refractories
- Others
Steel Fiber Market by Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Recent Developments
- In December , Sika AG acquired a stake of 30% in Concria OY, specializing in highly innovative concrete floors.
- In November , ArcelorMittal and Schneider Electric announced a partnership whereby ArcelorMittal will supply Schneider Electric with XCarb recycled and renewably produced steel and steel fiber for its floor-standing enclosures.
- In April , ArcelorMittal joined forces with BP2, the manufacturer of complete solutions for residential construction, to supply low carbon emissions steel and steel fiber for BP2s latest product, the SOLROOF integrated photovoltaic roof.
- In March , Arcelor Mittal completed the acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil for an enterprise value of approximately USD 2.2 billion.
Frequently Asked Questions (FAQ):
Which are the major companies in the Steel fiber market? What are their major strategies to strengthen their market presence?
Some of the key players in the Steel fiber market are Bekaert (Belgium), ArcelorMittal (Luxembourg), Nippon Seisen Co., Ltd. (Japan), Fibrometals (Romania), Sika AG (Switzerland), Jiangsu Shagang Group Co., Ltd.(China), Zhejiang Boen Metal Products Co., Ltd. (China), Green Steel Group (Italy), Spajic Doo (Serbia), Kosteel Co., Ltd. (South Korea), Severstal (Russia), Enviromesh Pty ltd. (Australia), Hunan Shuanxing Steel Fiber Co., Ltd. (China), and Kerakoll SPA (Italy) are the key manufacturers that secured contracts deals in the last few years. Contracts and deals were the key strategies adopted by these companies to strengthen their position in the Steel fiber market.
What are the drivers and opportunities for the Steel fiber market?
Increasing demand for steel fibers in the construction & building industry, while the ongoing R&D in advancing manufacturing techniques to provide an opportunity for the market to grow.
Which region is expected to hold the highest market share?
Asia Pacific Steel fiber market has been experiencing growth and significant industry demand. Asia Pacific is experiencing increased investments in infrastructural developments, contributing to the increasing adoption of Steel fiber products.
What is the total CAGR expected to be recorded for the Steel fiber market during -?
The CAGR is expected to record a CAGR of 4.5% from -
How is the Steel fiber market aligned?
The market is growing at a considerable pace. The market is a highly consolidated market, and many manufacturers are planning business strategies to expand their existing production capacities of Steel fiber. .
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Steel Fiber Reinforced Concrete FAQ
10. Will steel fibers rust?
For indoor applications such as tunnels and warehouses, no. For outdoor applications such as pavements some minor rusting may occur. experience in highways and industrial pavements indicate that while individual fibers corrode at the surface, staining of the concrete surface does not occur. overall aesthetics and serviceability are maintained even with the presence of individual fiber corrosion. indoor Applications- Surface fibers in typical indoor tunnels or manufacturing floor applications remain bright and shiny under normal environmental conditions.
Outdoor Applications Without cracks- experience has shown that concrete specified with a 28-day compressive strength over psi, mixed with standard water/cement ratios, and installed with methods that provide good compaction, limit the corrosion of fibers to the surface skin of the concrete. When surface fibers corrode, there is no propagation of the corrosion more than 0.008 beneath the surface. Since the fibers are short, discontinuous, and rarely touch each other, there is no continuous path for stray or induced currents between different areas of the concrete. outdoor Applications With cracks-laboratory and field-testing of cracked SFrc in environments containing chlorides has indicated that the cracks in concrete can lead to corrosion of the fibers passing across the crack. However, small cracks (crack widths < 0.008) do not allow corrosion of steel fibers passing across the crack. if the cracks wider than 0.008 and are limited in depth, the consequences of this localized corrosion are not structurally significant.
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