Global Steel Fiber Market Size to Exceed USD 4.05 Billion By 2035 | CAGR of 5.07%
Category: Advanced MaterialsGlobal Steel Fiber Market to Exceed USD 4.05 Billion By 2035
According To A Research Report Published By Spherical Insights & Consulting, The Global Steel Fiber Market Size Is Expected To Grow From USD 2.35 Billion In 2024 To USD 4.05 Billion By 2035, At A CAGR Of 5.07% During The Forecast Period 2025-2035.
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Browse key industry insights spread across 235 pages with 103 Market data tables and figures & charts from the report on the "Global Steel Fiber Market Size, Share, and COVID-19 Impact Analysis, By Product (Hooked, Straight, Deformed, and Others), By Application (Slabs & Flooring, Precast, Pavements & Tunnelling, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description: https://www.sphericalinsights.com/reports/steel-fiber-market
The steel fiber market refers to the industry encompassing the production and sale of steel fibers, which are short, discontinuous strands of steel used for reinforcing various materials, like concrete. Steel fiber is a low-carbon, cold-drawn wire fiber manufactured in compliance with ASTM A820/A820M. This fiber has emerged as a transformative component across various sectors, offering unprecedented technological solutions. The inclination towards eco-friendly and resilient building techniques, driven by the growing emphasis on sustainability and energy-efficient building methods, is driving the use of steel fiber-reinforced concrete. Innovations in construction materials, including the use of technology such as steel fibers in precast applications and 3D printing, are creating opportunities for market growth. The widespread application of steel fiber in the construction sector, including industrial floors, tunnels, precast concrete elements, shotcrete, and even in bridges and dams, is driving the steel fiber market expansion. Further, increasing investments in the building of highways, buildings, and channels for river banking aid in propelling the market for steel fiber. On the contrary, the use of conventional materials like synthetic and glass fibers over steel fiber and the non-corrosion resistant nature of steel fibers are responsible for hampering the market growth.
The hooked steel fibers segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product, the steel fiber market is divided into hooked, straight, deformed, and others. Among these, the hooked steel fibers segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period. The widespread adoption of hooked steel fiber for industrial flooring, tunnel linings, and shortcrete applications for enhancing the mechanical properties of concrete is driving the segmental market growth.The slabs & flooring segment accounted for the largest revenue share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the steel fiber market is divided into slabs & flooring, precast, pavements & tunnelling, and others. Among these, the slabs & flooring segment accounted for the largest revenue share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Enterprises typically install a concrete grade slab with reinforcement to accommodate loads, control shrinkage, and prevent cracks. Thus, non-structural and architectural building components, with concrete reinforcement, are driving the market demand
Asia Pacific is expected to hold the majority share of the global steel fiber market during the forecast period.
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North America is expected to hold the majority share of the global steel fiber market during the forecast period. The rapid expansion of end-use industries, including transportation and electrical, along with the implementation of government initiatives, is contributing to propelling the market for steel fiber. Urbanization and extensive infrastructure development, along with the investment in green buildings and sustainable construction techniques, are also responsible for market growth.
North America is anticipated to grow at the fastest pace in the global steel fiber market during the forecast period. The rapid development across the electrical, defense, aerospace, and electronics industries, in countries like the United States, is responsible for driving the steel fiber market. Significant infrastructure reconstruction activities and demand in the mining & construction industries are driving the steel fiber market in the region.
Europe is anticipated to hold a significant share of the steel fiber market during the projected period. The growing adoption of steel fibre in industrial flooring, warehouses, parking lots, and other end-use industries is propelling the market. The increasing demand for high-strength, corrosion-resistant materials across industries, including automotive, aerospace, and construction, is driving the market demand.
Major vendors in the global steel fiber market are Arcelor Mittal, Bekaert, Fibrometals, Nippon Seisen, Zhejiang Boean Metal Products, Green Steel Group, Spajic Doo, Hunan Sunshine Steel Fiber, Yuthian Zhitai Steel Fiber Manufacturing, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In March 2023, Bekaert joined Solar Impulse Foundation as a partner to advance sustainability efforts. Bekaert announced that it has become a partner of the Solar Impulse Foundation, a key non-profit foundation established by Bertrand Piccard, dedicated to promoting sustainable and profitable solutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the steel fiber market based on the below-mentioned segments:
Global Steel Fiber Market, By Product
- Hooked
- Straight
- Deformed
- Others
Global Steel Fiber Market, By Application
- Slabs & Flooring
- Precast
- Pavements & Tunnelling
- Others
Global Steel Fiber Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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