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Steel Fiber Market worth $2.5 billion by 2023 - Exclusive Report by MarketsandMarkets™

 



(IT-NEWSWIRE.COM, January 14, 2022 ) The report "Steel Fiber Market by Type (Hooked, Straight, Deformed, Crimped), Application (Concrete, Composite, Refractories), Manufacturing Process (Cut Wire/Cold Drawn, Slit Sheet, Melt Extract), and Region - Global Forecast to 2023" The steel fiber market is projected to grow from the estimated USD 2.0 billion in 2018 to USD 2.5 billion by 2023, at a CAGR of 5.0% between 2018 and 2023. The market is growing due to the high demand from infrastructure and construction industries. Steel fiber is used in these industries as they exhibit properties such as superior tensile strength, crack resistance, durability, corrosion resistance, and high shear strength.

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The hooked segment accounted for the largest share of the overall steel fiber market in 2018.

Hooked steel fiber is the most commonly used type of steel fiber. Hooked steel fiber is used in concrete reinforcement in hydraulic structures, airport and highway paving, industrial floor, refractory concrete, bridge decks, shotcrete linings, and explosion resistant structures. This steel fiber type is affordable and easily available. Hooked steel fiber substantially enhances initial crack strength and provides post-crack strength. Hooked steel fiber forms stronger joints, which results in low maintenance of the concrete structure.

Concrete reinforcement application is expected to register the highest CAGR in the steel fiber market during the forecast period.

Flooring, roof slab, bridges, water tanks, sports stadium, conference halls, tunnel lining, dams, canal lining, and blast-resistant structures come under the concrete reinforcement application. Steel fiber is widely used in concrete reinforcement application in tunnel lining and flooring. Reinforced concrete is used widely as they have high resistance to tensile and shear stresses caused by natural calamities such as earthquakes, winds, and vibrations.

Don't miss out on business opportunities in Steel Fiber Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=222903687

Browse in-depth TOC on "Steel Fiber Market”
65 - Market Data Tables
37 - Figures
103 - Pages

APAC is expected to be the largest market for steel fiber during the forecast period.

APAC is the largest steel fiber market, in terms of both value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. There are many large steel fiber manufacturers in the APAC region, such as Stewols India (India), Hunan Sunshine Steel Fiber (China), and Yuthian Zhitai Steel Fiber Manufacturing (China)). The demand for steel fiber is expected to increase in the region during the forecast period with the increasing demand from infrastructure, construction, textile, and other industries.

The major players in the steel fiber market include 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).

Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=222903687

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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Mr. Aashish Mehra

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raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

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