Global Steel Fiber Market To Show Stunning Growth And Reach USD 8.00 Billion by 2032

As per researchers at Zion Market Research has published a report on the global Steel Fiber Market, estimating its value at USD 4.43 Billion in 2023, with projections indicating that it will reach USD 8.00 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.8% over the forecast period 2024-2032.

The global steel fiber market is developing owing to the requirement from construction and infrastructure industries. Steel fiber is employed in these sectors as they have properties such as crack resistance, higher tensile strength, corrosion resistance, durability, and elevated shear strength.

The global steel fiber market includes major players such as Yuthian Zhitai Steel Fiber Manufacturing, Bekaert, Arcelor Mittal, Nippon Seisen, Fibrometals, Green Steel Group, Zhejiang Boean Metal Products, Spajic Doo, R. STAT, and Hunan Sunshine Steel Fiber.

Hooked Steel Fiber Is Projected To Add Up For The Biggest Share Of The Global Steel Fiber Market In The Coming Period

Steel fiber arrives in five kinds such as deformed steel fiber, crimped steel fiber, straight steel fiber, hooked steel fiber, and others. The hooked steel fiber section is anticipated to lead the global steel fiber market in the years to come. Hooked steel fiber is employed in concrete reinforcement in highway & airport paving, hydraulic structures, refractory concrete, industrial floor, shotcrete linings, bridge decks, and explosion resistant buildings. Hooked steel fiber considerably offers post-crack strength and improves initial crack strength. Hooked steel fiber creates stronger joints, which leads to low maintenance of the buildings.

Concrete Reinforcement Is Anticipated To Be The Biggest Application Of Steel Fiber In The Years To Come

Steel fibers are being more and more employed in the construction sector since it is employed in tunnel lining, flooring, shotcrete, precast, and so on. Steel fiber is employed in composite reinforcement, concrete reinforcement, refractories, and so on. They are primarily employed in concrete reinforcement scenarios. Steel fiber provides elevated durability, tensile strength, crack resistance, corrosion resistance, and high shear strength. Due to these characteristics, they are employed in the manufacturing of tunnel lining, flooring, precast, heavy duty pavements, shotcrete, and so on.

Asia Pacific Region Projected To Lead The Global Steel Fiber Market In The Years To Come

Asia Pacific region is the largest steel fiber market. The area is undergoing through high development in the global steel fiber market. A bulk of the steel fiber makers all over the region is frequently comprised in enhancing the quality of the goods. The makers are adopting different development strategies to make their position stronger in the global market. The area has some of the well-known steel fiber makers, thereby contributing to the growth of global steel fiber market.

This review is based on a report by Zion Market Research, titled “Steel Fiber Market by Application (Composite, Concrete, Refractories), Type (Straight, Hooked, Crimped, Deformed), Manufacturing Process (Slit Sheet, Cut Wire/Cold Drawn, Melt Extract), and Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032” report at https://www.zionmarketresearch.com/report/steel-fiber-market

The global steel fiber market is segmented as follows:

By Type

• Hooked

• Straight

• Deformed

• Crimped

• Others (glued & irregular)

By Application

• Concrete reinforcement

• Composite reinforcement

• Refractories

• Others (vaults, filters, and material plastic)

By Manufacturing Process

• Cut Wire/cold drawn

• Slit sheet

• Melt extract

• Others (Mill extract and modified cold drawn wire)

By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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