The steel fiber market size has experienced solid growth in recent years. It will rise from $2.34 billion in 2024 to $2.53 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to a surge in infrastructure, supportive government policies, rising adoption of steel fiber reinforcement in the construction industry, the need for durable and sturdy construction materials, along with an increase in infrastructure development investments.
Moreover, the steel fiber market is forecasted to continue its robust growth in the coming years. It is predicted to reach $3.47 billion in 2029 at a CAGR of 8.3%. The growth in the forecast period can be attributed to the expansion in the transportation sector, increasing urbanization, the growing need for durable and sustainable infrastructure solutions, a rising trend of precast construction, and global economic growth.
To grab a sample of the Global Steel Fiber Market Report, click here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5674&type=smp
What are the Influential Factors Driving the Steel Fiber Market’s Growth?
One of the vital drivers propelling the growth of the steel fiber market is the expansion in the construction industry. The construction industry is central to building houses, bridges, and other infrastructures. Steel fiber, widely used in construction and civil engineering materials due to its superior properties such as high impact resistance, increased fatigue survival, long lifespan, and reduced maintenance costs, finds extensive applications in parking lots, playgrounds, airport runways, taxiways, maintenance hangars, access roads, and workshops. According to World Bank and McKinsey estimates, the global expenditure from the construction industry is expected to grow by 47%, reaching $14 trillion by 2025, thereby significantly boosting the steel fiber market.
What are the Major Segments in the Global Steel Fiber Market?
1) By Type: Hooked, Straight, Deformed, Crimped
2) By Application: Concrete Reinforcement, Composite Reinforcement, Refractories
3) By End User: Polymer, Chemical, Pharmaceutical, Aircraft Or Maritime Or Machine, Measuring And Instrumentation Devices, Other End-Users
To order your report swiftly, visit:
https://www.thebusinessresearchcompany.com/report/steel-fiber-global-market-report
Who are the Key Players in the Steel Fiber Market?
The major companies operating in the steel fiber market include Arcelor Mittal SA, N.V. Bekaert S. A., Fibro Metals SRL, Nippon Seisen Co. Ltd., Zhejiang Boean Metal Products Co. Ltd., Green Steel Poland Sp. z o. o., Spajic Doo, Hunan Sunshine steel fiber co. Ltd., Yuthian Zhitai Steel fiber Manufacturing Co. Ltd., Ugitech S. A, Intra Micron Inc., Kosteel Co. Ltd., Junwei Metal Fiber Co. Ltd., Maccaferri SpA, The Euclid Chemical Company, Nycon Corp., Jiangsu Daqi Metal Surface Treatment Co. Ltd., Fabpro Polymers Inc., Cangzhou Daye Metal Fiber Co. Ltd., Onward Chemicals Pvt. Ltd., Ribbon Technology Corporation, Fibercon International Inc., Stewols India Ltd., Bekaert Corporation, Euclid Chemical Co., Steelcon Pty Ltd., Hengyang Steel Fiber Co. Limited, Steel Wire Corporation of America, Zibo Tenran Steel Fiber Co. Ltd.
What Emerging Trends are Impacting the Steel Fiber Market?
Emerging trends in the steel fiber market majorly involve the development of innovative solutions by key market players to serve larger customer bases, increase sales, and boost revenue. Innovative solutions refer to advanced applications, manufacturing techniques, novel material compositions that enhance the performance and versatility of steel fibers in reinforced concrete and construction. For example, US-based steel fiber company HiPer Fiber LLC launched HiPer Fiber, a new type of steel fiber capable of tripling the fiber utilization rate, leading to significant efficiency improvement and offering substantial potential advantages. Unlike traditional fibers with smooth surfaces, HiPer fibers feature striations, ensuring remarkably effective anchoring within the ultra-high-performance concrete (UHPC) matrix.
Which Region Holds the Largest Share and Growth in the Steel Fiber Market?
Asia-Pacific topped the charts as the largest region in the steel fiber market in 2024. In the forecast period, Asia-Pacific is also anticipated to be the fastest-growing region. The regions covered in the steel fiber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does the Steel Fiber Market Report 2025 Offer?
Steel fiber refers to short end steel strips purposely manufactured to strengthen the concrete by resisting tensile cracking and used to replace traditional reinforcement in specific non-structural applications as well as diminishing cracking by offering effective impact strength, high load-bearing capability after being cracked, good ductility, and high resistance. The Steel Fiber Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
To gain access to valuable market insights, purchase the exclusive report now: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5674
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead. Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Read Related Topics:
https://goodprnews.com/vertical-lift-module-market-trends/
https://goodprnews.com/viral-inactivation-market-trends/
https://goodprnews.com/whole-exome-sequencing-market-trends/
https://goodprnews.com/steel-wire-rope-and-plastic-rope-market-trends/
https://goodprnews.com/telecom-operations-management-market-trends/
https://goodprnews.com/unmanned-surface-vehicle-usv-market-share/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
