Global Steel Fiber Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Steel Fiber Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global steel fiber market report has been segmented on the basis of type, manufacturing process, application, end-use industry, and region.

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Global Steel Fiber Market: Overview

Steel fiber is used to control crack propagation and helps in transforming a brittle material into a ductile material. Steel fiber offers various features such as stronger joints, reduced joint spalling, high impact strength, low maintenance costs, high fatigue endurance, and long shelf-life.

Global Steel Fiber Market: Dynamics

Rising demand for steel fiber in construction sector owing to its properties such as corrosion and crack resistance, high impact strength, and others is a major factor expected to drive growth of the global steel fiber market in the next coming years. Additionally, increasing demand for the product from electrical and transportation sectors is another factor anticipated to fuel growth of the steel fiber market over the forecast period. Moreover, rapid urbanization coupled with increasing adoption of product in various end-use industries, are among some other factors projected to drive revenue growth of the steel fiber market to a certain extent over the long run.

However, high operating and production costs are key factors which may restrain growth of the potential market over the forecast period. In addition, synthetic fibers used in many applications is expected to be another factor challenging growth of the target market.

Growing increasing investments in infrastructure in emerging economies is anticipated to create lucrative opportunities for the manufacturers of steel fiber, and is expected to support revenue growth of the target market.

Global Steel Fiber Market: Segment Analysis

Among the type, the hooked steel fiber segment is expected to hold highest revenue share in the potential market in the next coming years as it can be easily available and affordable. Among manufacturing process, the cut wire/cold drawn segment is anticipated to register for significant revenue share in the potential market owing to reduce cost of owner and prevent from counterfeits.

Among application, the concrete reinforcement segment is estimated to account for maximum share in terms of value in the target market, owing to its various properties such as durability, high shear and tensile strength, corrosion resistant, and others. Among end-use industry, the building & construction industry segment is expected to register for highest revenue share in the target market during the forecast period owing to crack resistant, durability, and other properties.

Global Steel Fiber Market: Regional Analysis

The Asia Pacific steel fiber market is estimated to hold highest share in terms of value and volume and is expected to dominate the target market in years to come. Growing infrastructure, transportation, and electrical sector coupled with increasing number of government initiatives, are among some major factors expected to fuel growth of the steel fiber market in Asia Pacific. The Asia Pacific market is projected grow at a faster rate over the forecast period, owing to the presence of key players in the countries in this region. The steel fiber market in North America is anticipated to register for moderate revenue share over the forecast period, followed by Europe steel fiber market. The market in Europe is expected to grow at a moderate rate in the steel fiber market in the next coming years.

Global Steel Fiber Market Segmentation:

Segmentation on the Basis of Type:

Hooked Steel Fiber
Straight Steel Fiber
Crimped Steel Fiber
Deformed Steel Fiber

Segmentation on the Basis of Manufacturing Process:

Cut Wire/ Cold Drawn
Slit Sheet
Melt Extract

Segmentation on the Basis of Application:

Concrete Reinforcement
Composite Reinforcement
Refractories

Segmentation on the Basis of End-Use Industry:

Building & Construction
Transport
Mining & Tunneling
Flooring and Pavement
Electrical