The Steel Fiber Market was valued at $2.1 Billion in 2018 and is forecast to grow at a modest 7.6 % CAGR between 2018 and 2025, culminating in 2026 global sales of $4.3 Billion.
Industry at a Glance
Steel fiber converts a brittle material into ductile material. It offers numerous advantages like reduced spalling joint edges, stronger joints, high impact resistance, greater fatigue endurance, reduced maintenance costs, and longer useful working life. Steel fibers provide optimum load bearing, superior crack control, high fatigue resistance, and excellent impact resistance.
The increasing construction of modern infrastructure combined with developing advancement in construction materials is driving market growth. Steel fibers are broadly used along with mesh and steel emphasizing bars in several construction applications. Advantages including optimization in steel consumption, concrete savings, and faster construction have produced a encouraging influence in the coming future.
The construction Sector is showing a rapid growth of the on account of various dynamics of the industry such as emission regulation, green buildings, and sustainable construction. This is anticipated to propel the market demand over the forecast period.
On the other hand, high operating price of the product may restrain the global steel fiber market growth in the years ahead.
“Optimal Price Point (OPP) for Global Steel Fiber”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in Global Steel Fiber are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of the latest products.
Global Steel Fiber Market by “Type”
We have segmented the Global Steel Fiber-based on Type as Hooked, Straight, Deformed, Others.
We have observed the rapid growth of Steel Fiber followed by Hooked Steel segment with a share of 68% in 2018 and is expected to propel the market growth over the forecast period. Due to its characteristics such as strong bonding and capacity to enhance resistant power in the construction segment is likely to create a strong impact in the coming future.
We also noticed the Deformed segment anticipated to drive the market with a CAGR of 7.8% from 2018 to 2026.
Global Steel Fiber Market by “Key Application”
We have segmented the Global Steel Fiber-based on Application Categories as Slabs & Flooring, Precast, Pavements & Tunneling, Others.
We have observed the rapid growth of Steel Fiber followed by the Slabs & Flooring segment has the largest market share of 48.2% in 2018 and is estimated to grow during the prediction period. Continuous demand for non-structural and architectural building equipment’s in building and construction market is projected to drive the market growth over the forecast period.
We also noticed the Pavements & Tunneling segment anticipated to drive the market with a CAGR of 7.5% from 2018 to 2026.
North America and Asia Pacific accounted for the maximum revenue share of over xx% in 2018 due to increased demand for Global Steel Fiber followed by EU- Top 5 countries contribute $X.9 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The Asia Pacific is having the largest market share in the global market in 2018 and anicipated to create a strong CAGR of 7.9% over the forecast period. China and India rapidly booming construction sector, consistent technological developments and advancements in the industrial sector, which is a primary part of the government initiative, and constantly developing electrical and transportation industries.
The North America region led the market and accounted for the second-largest share, in terms of developing market and End-use industries, in the global market. Factors such as building’s, highways, and bridges replacement is expected to propel the market demand.
“Competitive Landscape” and “Merger & Acquisition Insights”
The key market participants are Bekaert, Kosteel Co. Ltd., ArcelorMittal, Hanson, Fibrometals, Nippon Seisen, Sunshine Steel Fiber, R. STAT, Onward Chemicals Pvt. Ltd., Green Steel Group, Zhejiang Boean Metal Products, and Yuthian Zhitai. are few major players in Global Steel Fiber markets. The Global Steel Fiber market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation & new product development are major focus areas for dominant companies.
Global Steel Fiber Market by Type (Revenue, Million, 2018 – 2026)
Global Steel Fiber Market by Key Application (Revenue, Million, 2018 – 2026)
- Slabs & Flooring
- Pavements & Tunneling
Global Steel Fiber Market Regional Outlook (Revenue, USD Million, 2018-2026)
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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