Steel Fiber Market Enhancement, Industry Overview, Demand Status And leading player – Bekaert, Nippon Seisen, Green Steel Solana
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According to our most recent analysis (Market Intelligence Data) Steel Fiber market size was valued at USD 1734.41 million in 2021. The market is projected to grow from USD 2139.56 million by 2023 to USD 2525.13 million by 2029, exhibiting a CAGR of 7.3% during the forecast period.
The Global and United States Steel Fiber Market Size, Scope, and Forecast 2023-2029 report has been added to the Market Research Archive of market intelligence data. Industry experts and researchers have offered an authoritative and concise analysis of the Steel Fiber Market with respect to various aspects such as growth factors, challenges, restraints, developments, developments, and opportunities for growth. This report provides a pin-point analysis of changing dynamics and emerging trends in the Steel Fiber Market. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Worldwide Steel Fiber Market in the coming years.
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Some of the key players profiled in the study are Bekaert, Nippon Seisen, Green Steel Solana, Ribbon Technology, Green Steel Group, Ugitech, R.STAT, Sunshine, Huitong, Henan Green, Koolon, Swiit, Hebei Metal Fibre, Longyan Qianglong, Baoji Juyou, Fibercon International, STEWOLS INDIA and other Prominent players.
Bekaert Dramix® steel fibers reduce carbon footprint of construction industry
Bekaert has obtained an environmental product declaration (EPD) for its Dramix® steel fibers for concrete reinforcement production in Petrovice (Czech Republic), demonstrating its excellent sustainability credentials. The EPD will allow anyone involved in construction – from architects to developers – to compare Dramix® with traditional concrete reinforcement solutions, helping them to choose the most sustainable and durable solution for the entire lifecycle of their construction.
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The segmental analysis section of the report includes a thorough research study on key type and application segments of the Steel Fiber market.
Steel Fiber Market (By Type)
- Carbon Steel Fibers
- Stainless Steel Fibers
Steel Fiber Market (By Application)
- Concrete Construction
- Refractory Industries
Important years considered in the Steel Fiber study:
Historical year – 2017-2023; Base year – 2023; Forecast period** – 2023 to 2029 [** unless otherwise stated]
If opting for the Global version of Steel Fiber Market; then the below country analysis would be included:
APAC to register the highest CAGR during the forecast period.
The steel fiber market has a broad scope of growth in the APAC region. The steel fiber market in APAC is segmented into China, India, Japan, South Korea, Australia & New Zealand, and the Rest of APAC. China, India, and Japan are the fast-growing economies in the region that contribute to the growth of the market. There are multiple large steel fiber manufacturers, which are present in the APAC region, such as Nippon Seisen, Zhejiang Boean Metal Products, Hunan Sunshine Steel Fiber, and Yuthian Zhitai Steel Fiber Manufacturing. The growing construction industry is expected to increase the demand for steel fiber in the region during the forecast period. Europe is one of the fastest-growing markets for steel fibers, with numerous infrastructural developments taking place across the region.
Market Dynamics:
Driver: Development of infrastructure with supportive government policies
With the development of infrastructure in the emerging and developed economies, the construction of roads and commercial buildings and river banking projects have witnessed tremendous investments. These civil construction projects boost the consumption of steel fiber materials that are durable and cost-effective with long-lasting solutions.
The emerging and developed economies, worldwide, are making significant investments to secure long-term future growth, and their aim toward socio-economic benefits is supporting the growth of the steel fiber market. For example, the Indian government aims to invest in infrastructure projects during 2018–2019.
Restraint: Synthetic fibers replacing steel fibers in certain applications
Steel fibers and synthetic fibers have entirely different properties. For airport runways, steel fibers are used, but for individual projects, synthetic fibers are also used. The use of synthetic fibers in airport runways reduces the chances of damaging the airplane tires.
Opportunity: Growing infrastructure in developing countries
Steel fiber finds applications mainly in the infrastructure segment, which is growing in developing countries such as India, China, Brazil, and South Africa. The construction of roads, airport runways, bridges, and canals and other infrastructural projects are increasing, providing opportunities in the steel fiber market growth in these emerging economies. Also, concrete reinforcement, majorly used in construction, will also boost the growth of the steel fiber market.
Challenge: Difficulty in processing
Steel fibers are manufactured in various diameters according to the requirement. The process of making steel fiber having small diameters is difficult and time-consuming, as the diameter of the steel fiber ranges from 0.001–1.00 mm. In addition, the diameter of these films varies with application. Lesser the diameter of the steel fiber more is the strength of the steel fiber. Manufacturing steel fiber with smaller diameter requires more time, resulting in increasing the overall cost of processing and making the product more expensive. Therefore, steel fibers having less diameter have lower demand.
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What is new in 2023?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the Steel Fiber market.
– Updated financial information and product portfolios of players operating in the Steel Fiber market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
The new edition of the report consists of trends/disruptions on customer’s business, tariff and regulatory landscape, pricing analysis, and a market ecosystem map to enable a better understanding of the market dynamics for Steel Fiber.
20% Customization of this Report:
-20% customization.
-Five Countries can be added as per your choice.
-Five Companies can added as per your choice.
– customization upto 40 hours.
-Post-sales support for 1 year from the date of delivery.
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