Vancouver, Oct. 02, 2023 (GLOBE NEWSWIRE) --  The global steel fiber market size was USD 2.30 Billion in 2022 and is expected to register a steady revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. Rising infrastructural development across various regions and increasing use of steel fibers due to higher tensile strength are key factors driving market revenue growth.

Steel fibers are extensively used along with mesh and steel reinforcing bars in various construction applications owing to their compression, splitting tensile, and flexural strength. Global steel prices reduced by 15%-20% year-on-year in 2022 and fell over 40% in December 2022. According to the forecast by World Steel Association (WSA), the demand for global steel increased by 2.4% in 2023. This can lead to a drop in the prices of steel fibers and therefore can be widely used as a construction material.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2296

Developing countries in the Asia Pacific region need to spend significantly more in recent years in various infrastructure projects. According to an Asian Development Bank, developing countries in Asia will need to invest USD 26 trillion in infrastructure projects from 2016 to 2030, to retain its growth momentum, eradicate poverty, and respond to climate change. Steel Fiber Reinforced Concrete (SFRC) is a composite material made up of a cementitious matrix and a discontinuous reinforcement made up of steel fibers that are randomly distributed throughout the matrix. SFRC is used in buildings, such as flooring, housing, precast, bridges, tunneling, heavy duty pavement, and mining, to improve long-term behavior, strength, toughness, and stress resistance. In addition, SFRC is becoming more popular in civilian and military structures due to its greater qualities over standard concrete, such as higher tensile strength, better strain capacity, enhanced energy absorption ability, and improved toughness.

However, reduction workability and issues related to uniformity of the concrete mix are key factors , which could restrain market revenue growth. Steel fiber rigidity can have a significant impact on slump and workability, especially when additional characteristics are considered. The fibers operate as a barrier to the movement of coarse aggregates, decreasing material mobility. Furthermore, when the fibers get concentrated on the surface, it becomes difficult to provide a good finishing.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2296

Scope of Research

Major Companies and Competitive Landscape

The global steel fiber market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new solutions and services. Some major players included in the global steel fiber market report are:

• ArcelorMittal
• Bekaert
• Fibrometals
• Nippon Seisen Co., Ltd.
• Zhejiang Boen metal products Co., Ltd.
• Green Steel Group
• Spajic DOO
• Hunan Sunshine Steel Fiber Co., Ltd.
• Zhitai Steel Fiber Manufacturing Co., Ltd.
• Hunan Sunshine Steel Fiber Co., Ltd.
• R. STAT

Strategic Development

• On 19 October 2021, Bekaert received an Environmental Product Declaration (EPD) for its Dramix steel fibers for concrete reinforcement manufacturing in Petrovice (Czech Republic), confirming its strong commitment to sustainability. The EPD will enable anybody involved in construction to compare Dramix with standard concrete reinforcing systems, assisting them in selecting the most sustainable and durable solution for their development's whole lifecycle.

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2296

Some Key Highlights From the Report

• The hooked segment is expected to account for largest revenue share in the global steel fiber market over the forecast period. This is because hooked steel fiber can provide improved anchoring between fibers and concrete and is also inexpensive. Hooked fibers are more popular than smooth fibers in structural applications because of their anchorage mechanisms, together with their length and tensile strength, provide extra pull-out resistance and enhance the structural element's performance..
• The concrete reinforcement segment is expected to register steadily fast revenue growth rate in the global steel fiber market over the forecast period. This is because fibers are used in Ordinary Portland Concrete (OPC) to increase its tensile strength, ductility, durability and toughness of concrete. When steel fibers are mixed into mortar, OPC, or refractory concrete, the flexural strength of the composite increases from 25% to 100%, depending on the proportion of fibers used and the mix design.
• The cut wire/cold drawn segment is expected to account for significantly large revenue share in the global steel fiber market over the forecast period. This can be attributed to their improved mechanical characteristics and superior performance. Steel is frequently cold-rolled before being cold-drawn to improve its characteristics for improved performance. Cold-drawing has various advantages over other processes, such as hot-rolling, and has improved mechanical characteristics.
• The Asia Pacific market accounted for largest revenue share in the global steel fiber market in 2022. This is due to increasing investments in various infrastructure projects across various countries in Asia Pacific rising demand from various end use industries. This is expected to rise domestic demand for steel fiber in this region along with rapid growth in the construction industry. Steel fiber is used in concrete mix to increase the tensile strength of concrete that can be used in various infrastructure projects.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/steel-fiber-market
Emergen Research has segmented the global steel fiber market on the basis of type, application, manufacturing process and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

• • Hooked
  • Straight
  • Deformed
  • Crimpled
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Concrete Reinforcement
  • Composite Reinforcement
  • Refractories
  • Others
• Manufacturing Process Outlook (Revenue, USD Billion; 2019-2032)
  • Cut Wire/Cold Drawn
  • Slit Sheet
  • Melt Extract
  • Mill Extract
  • Modified Cold Drawn Wire
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

Curated Reports You Shouldn't Miss: Dive In Now!

Renewable Polypropylene Market By Source (Beet, Corn, Sugarcane, Others), By Application (Textile, Injection, Films, Others), By End-Use (Construction, Automotive, Electronics, Industrial, Others), By Region Forecasts to 2027

Surface Treatment Chemicals Market By Chemical Type (Plating Chemicals, Cleaners, Conversion Coating), By Base Material Type (Plastics, Metals, Others), By Industry Vertical (Construction, Transportation, General Industry, Others), and By Region, Forecasts to 2027

3D Printing Plastic Market, By Type (Photopolymers, Polylactic Acid (PLA) and Acrylonitrile Butadiene Styrene (ABS)), By Form (Filament and Powder), By End-Use (Aerospace & Defense, Electronics, and Automotive), and By Region Forecast to 2030

Energy Efficient Glass Market, By Type (Annealed Glass, Toughened Glass, Others), By Application (Building and Construction, Automotive, Others), By Region Forecast to 2032

Anti Fingerprint Coatings Market By Type (Hydrophobic Coating, Oleophobic Coating), By Technology (Vacuum Deposition, Sol Gel, Others), By Application (Consumer Goods, Building & Construction, Automotive, Solar Panels, Others), and By Region, Forecasts to 2027

Needle Coke Market Size, Share, Trends, By Product Type (Petroleum-Based Needle Coke), By Grade (Intermediate Grade, Super-Premium Grade), By Application (Graphite Electrodes), By End-use (Aerospace), and By Region Forecast to 2030

Explosion Proof Equipment Market By Method (Prevention, Containment, Segregation), By Protection Type (Gas Explosion Protection, Dust Explosion Protection), By Zone, By Application (Lifting Systems, Cable Glands, Lighting Systems, and Others), By End-Use, By Region Forecasts to 2027

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Japanese Version: Steel Fiber Market

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-steel-fiber-market