Steel Fiber Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: CM240604 | Research Suite: Report (PDF) & Market Data (Excel)
Steel fiber, often referred to as steel microfibre
or steel reinforcing fiber, is a substance that is used to strengthen concrete
and enhance its mechanical qualities. To improve toughness, durability, and
fracture resistance in concrete mixes for a variety of uses in the construction
sector, these fibers which are usually made of carbon steel or stainless steel are
added. The particular project requirements and intended performance
characteristics determine the type and dose of steel fiber to use. In line with
sustainability objectives, they also help to cut down on material use, extend
the life of concrete, and require less maintenance.
Steel Fiber Market
Global estimates for the steel fiber market point to a huge expansion; by 2034, the market is expected to be valued at USD 5.11 billion, a major rise from the projected USD 2.8 billion in 2023. Between 2024 and 2034, this growth trajectory is anticipated to sustain a strong compound annual growth rate (CAGR) of about 6.2%. The global need for infrastructure development is fueling the industry. To improve structural integrity and durability, investments in the building of highways, bridges, tunnels, and airports need the use of high-performance, long-lasting materials like steel fiber-reinforced concrete (SFRC).
To take advantage of the increasing building activity, particularly in China, Japan, India, and Southeast Asia, businesses are extending their reach into countries such as Asia-Pacific and Latin America. The steel fiber market has room to grow, but there are still obstacles to overcome, including the need for more architects, engineers, and contractors to understand the advantages of self-fastened reinforcing concrete (SFRC) and the cost competitiveness of steel fiber compared to traditional concrete reinforcement methods.
Steel Fiber Market Growth Drivers:
The steel fiber market is mostly driven by rising
expenditures in transportation, utility, and industrial projects as well as by
fast urbanization. Modern, durable infrastructure, such as highways, bridges,
tunnels, and commercial buildings, are required to accommodate the growing
urban population. Steel fiber-reinforced concrete (SFRC) is frequently used in
the construction of these structures to increase strength, durability, and
fracture resistance.
Steel fibers are becoming more and more popular
because of the growing need for high-performance concrete (HPC) with better
mechanical qualities. These fibers are added to concrete mixtures to improve
toughness, tensile and flexural strength, and resistance to cracking. This
helps the transportation, mining, energy, and manufacturing sectors meet their
needs for long-lasting structures that can withstand large loads and
challenging weather.
Steel fibers are becoming more and more popular in
construction because they provide several advantages over more conventional
reinforcing techniques like rebar or mesh. It speeds up construction by using
less traditional reinforcement, which saves time. They improve resistance,
lessen maintenance, and lessen cracking in concrete, increasing its longevity. It
also maximizes material use, lowering total prices and concrete costs.
Many nations have adopted guidelines and
regulations that support the use of fiber-reinforced concrete in applications
that call for increased durability and performance. Complying with these laws
encourages engineers and construction companies to use steel fibers in their
projects to meet safety and performance standards.
Steel Fiber Market Segmentation:
·
By Type of Steel Fiber: Hooked Steel Fiber, Straight Steel Fiber, Deformed Steel Fiber, Crimped
Steel Fiber, Other Types of Steel Fiber
·
By Manufacturing Technology: Cut Wire/ Chopped, Slit Sheet, Cold-Drawn, Melt Extract, Mill Extract,
Other Manufacturing Technologies
·
By Application: Concrete Reinforcement, Shotcrete & Gunite, Refractory Materials, Composite
Reinforcement, Other Applications
·
By End-User: Textile, Construction, Automotive, Aerospace, Power & Electronics,
Other End-Users
·
By Region: North America, Europe, Asia-Pacific, Latin America, Middle East &
Africa
Steel Fiber Market Type of Steel Fiber Segment Review
In applications requiring exceptional durability and fracture control, hooked-end steel fibers are frequently utilized in precast concrete components, industrial floors, and pavements. With a predicted XX.X% worldwide share, this subsegment was a key player in the market in 2023. The post-crack performance is improved and bonding with the concrete matrix is strengthened by deformed steel fibers caused by undulations along their length. For the projection period (2024–2034), it is anticipated to grow at the greatest CAGR of XX.X%. It is appropriate for uses where great ductility and toughness are needed, including mine shaft linings and seismic-resistant constructions.
Steel Fiber Market Manufacturing Technology Segment Review
In 2023, cut wire/chopped had the largest market
share at XX.X%. It is frequently used to generate straight or hooked-end steel
fibers that may be employed to reinforce concrete in applications like precast
components and industrial flooring. Steel fibers with high tensile strength and
homogeneity, obtained using cold-drawn technique, are well-suited for tough
applications needing exceptional mechanical qualities and longevity.
Steel Fiber Market Application Segment Review
The composite reinforcement held a commanding
market share of around XX.X% in 2023. To increase the strength, stiffness, and
impact resistance of composite materials, such as fiber-reinforced plastics
(FRP) and polymer matrices steel fibers are used as reinforcement. When
compared to traditional concrete, steel fiber-reinforced concrete (SFRC)
exhibits improved durability, ductility, and fracture resistance, rendering it
a viable option for structural applications that demand increased mechanical
qualities and resilience.
Steel Fiber Market End-User Segment Review
In infrastructure projects like building bridges,
tunnels, pavements, and other structures, the construction sector is the main
user of steel fibers for reinforcing concrete. In 2023, its market share
worldwide was around XX.X%. Positive effects on regional growth are anticipated
from large tunneling projects and moderate growth in the construction industry.
Especially in the case of the rising economies of the Asia Pacific area, steel
fiber composites increase wear resistance, thermal stability, and mechanical
strength in automotive applications, hence improving vehicle component
performance and lifetime. Technical textiles gain strength, durability, and
conductivity from their incorporation into yarns and fabrics.
Steel Fiber Market Regional Synopsis:
The Asia-Pacific area is rapidly becoming more
urbanized and developing its infrastructure, which is driving up demand for
steel fibers in projects including high-rise buildings, airports, and transit
systems. The region commanded the most share of the market in 2023 with XX.X%,
and over the course of the forecast period (2024–2034), it is anticipated to
develop at the highest CAGR of XX.X%. Steel fibers find significant demand in
emerging economies such as China and India, mostly due to government
expenditures in industrial and infrastructural projects.
Strong demand for steel fiber-reinforced concrete
(SFRC) in infrastructure projects such as commercial buildings, bridges, and
highways boosts the steel fiber market in North America. Research and
development initiatives aiming at enhancing steel fiber performance and
sustainability have been sparked by the region's concentration on technical
developments. Similar to this, large expenditures in infrastructure development
and renewal have fueled the steel fiber industry in Europe, which in turn has
increased demand for SFRC in transportation and civil engineering projects. The
use of steel fibers to improve concrete durability and reduce environmental effects
is encouraged by Europe's strong emphasis on sustainable building methods,
which supports the market's expansion and growth.
The renovation of infrastructure and the development boom in countries like Brazil and Mexico help the steel fiber industry in Latin America. Demand for SFRC in various projects in the area is driven by growing construction activity. The construction of stadiums, airports, and transportation networks in the Middle East and Africa is driving up demand for steel fibers used in concrete reinforcement. The use of steel fiber-reinforced concrete is facilitated by the region's emphasis on high-quality building materials that survive challenging environmental conditions.
Steel Fiber Market Key Challenges:
Steel fiber-reinforced concrete (SFRC) is often
more expensive than regular concrete because of the increased cost of steel
fibers, which presents hurdles for the market's ability to compete on price.
Particularly in price-sensitive industries or for large-scale infrastructure
projects, this greater material cost prevents SFRC from being widely used. To
get above this obstacle, manufacturers must focus on streamlining their
manufacturing procedures and looking for economical ways to cut material costs.
Manufacturers and end users find it difficult to
assess and contrast the performance of various steel fiber products due to the
absence of consistent standards across different locations. To resolve this
problem, industry participants should work with associations and authorities to
create precise standards for steel fiber composition, mix design, and testing
procedures. To guarantee that SFRC products operate and are of constant
quality, standardization activities are crucial.
Steel Fiber Market Key Global Players:
The competitive landscape of the steel fiber market
is shaped by several factors, including:
·
Organizations that possess a
competitive edge are those that invent and invest in R&D to develop
innovative steel fiber products with enhanced performance characteristics, such
as improved bonding, durability, and ease of handling.
·
Companies with a strong global
presence, robust distribution networks, and deep local market knowledge have the
potential to effectively capitalize on market opportunities and address
regional requirements.
·
Maintaining high-quality
manufacturing procedures is a top priority for manufacturers to reliably
fulfill industry requirements and guarantee consistency between batches of
steel fibers. Market needs for environmentally friendly building solutions are
met by respecting environmental standards and encouraging sustainable
production practices.
Numerous players are vying for market share and
investing in new technologies and product development to stay ahead of the
curve in the market. Several key global players in the steel fiber market
include:
·
N.V. Bekaert S.A.
·
ArcelorMittal S.A.
·
Sika AG
·
Euclid Chemical
·
Tata Steel
·
Spajic Doo
·
Kerakoll SPA
·
Severstal
·
Stewols India (P) Ltd.
·
Other Players
The report on the steel fiber market covers the following aspects:
·
Market Overview: A general overview
of the global steel fiber market, including its current size and growth
projections for the future.
·
Market Segmentation: A market
breakdown by type of steel fiber, manufacturing technology, application,
end-user, and geographic region.
·
Market Dynamics: An analysis of the
key drivers, challenges, and trends affecting the growth of the steel fiber
market.
·
Competitive Landscape: A
comprehensive analysis of the leading players in the steel fiber market,
including their market share, product offerings, and key strategies.
·
Regional Analysis: A detailed
analysis of the steel fiber market by geographic region, including market size,
growth projections, and key trends for each region.
·
Company Profiles: In-depth profiles
of key players in the steel fiber market, including their business overview,
product offerings, financial performance, and recent developments.
· Market Forecast: Projections for the future growth of the steel fiber market, including market size, growth rate, and key trends for the next five to ten years.
Attributes |
Details |
Base Year |
2023 |
Trend Period |
2020 – 2023 |
Forecast Period |
2024 – 2034 |
Pages |
215 |
By Type
of Steel Fiber Segment |
Hooked
Steel Fiber, Straight Steel Fiber, Deformed Steel Fiber, Crimped Steel Fiber,
Other Types of Steel Fiber |
By Manufacturing
Technology Segment |
Cut
Wire/ Chopped, Slit Sheet, Cold-Drawn, Melt Extract, Mill Extract, Other
Manufacturing Technologies |
By Application
Segment |
Concrete
Reinforcement, Shotcrete & Gunite, Refractory Materials, Composite
Reinforcement, Other Applications |
By
End-User Segment |
Textile,
Construction, Automotive, Aerospace, Power & Electronics, Other End-Users |
By region |
North
America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
Company Profiles |
N.V. Bekaert S.A.,
ArcelorMittal S.A., Sika AG, Euclid Chemical, Tata Steel, Spajic Doo,
Kerakoll SPA, Severstal, Stewols India (P) Ltd., Other Players |
Edition |
4th edition |
Publication |
June 2024 |