Steel Fiber Market by Concrete, Composite and Refractories Projected to Reach US$ 2.5 Billion by 2023 - Emerging Trends, Industry Forecast, Segmentation and Top Technologies

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Steel fiber market study aims at estimating the market size and the growth potential of the overall market and the different segments of the market. The Porter’s Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the steel fiber market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.

The steel fiber market size is estimated at USD 2.0 billion in 2018 and is projected to reach USD 2.5 billion by 2023, at a CAGR of 5.0%. Steel fiber has various properties such as high tensile strength, durability, corrosion resistance, crack resistance, and enhanced shear strength. Due to these properties, steel fiber is used in various applications such as concrete reinforcement, composite reinforcement, refractory’s, and others.

Recent Developments
• In August 2017, Arcelor Mittal (Europe) announced a three-year investment program for expansion worth USD 1 billion for Mexico.
• In August 2014, Bekaert (Belgium) established a steel plant for manufacture steel fiber under the brand, Dramix. This expansion helped the company to cater to the increasing demand from the infrastructure and construction industries in Latin America.
• In August 2014, Bekaert (Belgium) entered into a sale and distributing joint venture with Maccaferi. This development has helped the company to promote its steel fiber products in underground construction applications.

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The steel fiber market comprises major manufacturers such as Arcelor Mittal (Luxembourg), Bekaert (Belgium), Fibrometals (Romania), Nippon Seisen (Japan), Zhejiang Boean Metal Products (China), Green Steel Group (Italy), Spajic Doo (Serbia), Hunan Sunshine Steel Fiber (China), Yuthian Zhitai Steel Fiber Manufacturing (China), and R. STAT (Saint-Jean-Bonnefonds).

The study includes an in-depth analysis of these key players in the steel fiber market, including profiling the companies and analyses of key market strategies. The region is witnessing high growth of the steel fiber market. Majority of the steel fiber manufacturers across the region are constantly involved in improving the quality of the product.

The steel fiber market is segmented into hooked steel fiber, crimped steel fiber, straight steel fiber, deformed steel fiber, and others. Hooked steel fiber is projected to be the fastest-growing segment. The properties offered by this type of steel fiber, such as high tensile strength, crack resistance, durability, and shear strength, are expected to contribute to the growth of this segment during the forecast period.

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The report will help steel fiber market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall steel fiber market and its sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The company provides high-grade steel fiber, which is extensively used in concrete reinforcement application. For maintaining its competitive edge in the market, the company majorly focuses on acquisition as its main strategy to maintain its leading position in the steel fiber market. With its presence in 18 countries across 4 continents, the company has a strong distribution network. It is also focused on expansions in the market to cater to the increasing demand for steel fiber.

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