Technology Buz

Steel Fiber Market Size, Share, Growth, Revenue, Production, Forecast 2025

Pressmeddelande   •   Jan 14, 2020 04:41 CET

The global steel fiber market size is expected to reach USD 2.7 billion by 2025, exhibiting 7.% CAGR over the forecast period 2014-2025. Rise in industrial flooring application is anticipated to fuel the market growth.

The global steel fiber market size was estimated at USD 1.7 billion in 2018.

Concrete floor slab is vital structural component in industrial companies. Basic requirement for such flooring applications is adequate reinforcement to avoid the cracks. Demand of steel fibers is projected to grow on account of increasing use of steel fiber in industrial flooring in the fast-track construction. This is mainly due to added advantages, such as high toughness and ductility and tighter crack control offered by these products over conventional reinforcement products.

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Key suggestions from the report:

  • In terms of revenue, precast segment accounted for a market share of 21.8% in 2018. Increased durability and low maintenance of steel fiber are expected to drive the segment growth
  • Pavements and tunneling segment is projected to expand at the fastest CAGR of 7.4% in terms of revenue, over the next seven years. Increased spending on roadways in both developing and developed countries is likely to remain a key focus area for market participants
  • In terms of volume, North America is likely to expand at a CAGR of 4.6% from 2019 to 2025 on account of increasing spending to replace old infrastructure, such as roadways, bridges, and other structures
  • Europe accounted for 30.9% revenue share in 2018 and is anticipated to register a healthy CAGR during the forecast period, owing to high demand from construction of pavements and tunneling projects
  • Key market players include Bekaert, ArcelorMittal, Nippon Seisen Co. Ltd, Fibrometals., Kosteel Co. Ltd, Hunan Sunshine Steel Fiber Co. Ltd, Spajic doo, Green Steel Group., and R. STAT

Increasing investments in transportation sector is promising area for the market vendors due to use of steel fiber in roadways. Construction of roadways is growing at rapid pace in countries, such as India wherein transport infrastructure is key focus of the government. For instance, construction of highways in India has increased from 8,231 km in 2017 to 9,829 km in 2018, with year-on-year growth of nearly 20%. Wherein, Government of India spent around USD 18 billion in 2018 for road infrastructure.

Major manufacturers operating in the steel fiber market are focused on providing support services in order to deploy the products in non-structural applications. In their post-sale services, sales representatives of manufacturing companies assist in determining size, type, and volume of products require for reinforcement applications. These factors are projected to drive the application of steel fiber products in building and construction sector in the forthcoming years.

In developing countries, code provisions and experimental data about the product is not available adequately. Lack of skilled persons and hesitancy among engineers and practitioners to deploy these products for structural applications is likely to hinder the market growth over the forecast period.

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Type Insights

Based on steel fiber type, the steel fiber market is categorized into hooked, straight, deformed, and others. In terms of volume, hooked type held the highest market share of 64% in 2018 and is projected to maintain its position during forecast period. Properties such as the ability to improve resistance and bonding strength in construction are assisting in demand of hooked type products in the market. These products also have the ability to form strong bonds which results in low maintenance of structure.

In terms of revenue, deformed steel fiber segment is likely to register a CAGR of 7.3% from 2019 to 2025. Demand from concrete application in order to prevent cracking and water damage are projected to fuel the growth of the segment in the forthcoming years. These products also have great abrasion and impact resistance and better post crack strength.

Steel fiber helps reduce slab thickness, improve placement, and save on concrete costs. Errors during fabric positioning can be reduced using these products. It increases speed of construction resulting into savings of time and costs. Increasing infrastructure spending through various private and government programs is likely to contribute in the demand of different steel fiber products.

Application Insights

Based on application, the market has been segmented into slabs and flooring, precast, pavements and tunneling, and others. Concrete reinforcement is likely to attract maximum demand in slabs and flooring, precast, and pavements and tunneling applications. In terms of revenue, slabs and flooring was the largest segment with a revenue share of 46.4% in 2018. Incessant demand for non-structural and architectural building components in building and construction market is anticipated to drive growth of the precast segment over the forecast period.

Pavements and tunneling is likely to generate the maximum demand in the forthcoming years. In terms of revenue, the segment is anticipated to register a CAGR of 7.4% from 2019 to 2025. Combination of low bending moments and high compressive forces in tunnel lining owing to the steel fiber reinforced concrete has resulted in increased product demand in recent past.

In mechanized tunneling, the use of tunnel boring machine is expected to drive installation of concrete segments owing to the benefits, such as reduction in costs and time savings. Bekaert is one of the leading market players and has supplied steel fiber products to numerous tunnel projects including Shieldhall Tunnel, Crossrail Bond Street Station, Citybanan, Bottnia Banan, and Kakegawa Twin Tunnel.

Regional Insights

Asia Pacific is likely to witness the fastest CAGR of 7.7% over the forecast period. Development in the building and construction sector coupled with increased focus on public infrastructure are the key regional growth drivers. Infrastructure spending in India and China is expected to witness rapid growth wherein construction of expressways, airports, and rails is projected to register a high demand for steel fiber products. This is projected to create a positive impact on the growth of the regional market over the forecast period.

Europe was the second largest region in terms of volume with a market share of 28.8% in 2018. Major tunneling projects and moderate development of construction sector are likely to create a positive impact on the regional growth. Penetration of steel fiber reinforcement in Europe is progressing at rapid pace which is projected to benefit the market in the long term.

North America is projected to register significant demand over the forecast period, however, is likely to lose its market share to Asia Pacific. Replacement of old structures, bridges, and highways coupled with government spending on public infrastructure are anticipated to remain the key factors for the growth.

Steel Fiber Market Share Insights

Key participants include 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 Steel Fiber Manufacturing. Major market players are focused on development of new products and customer acquisitions to improve their market share. Rising demand for building materials and shift toward high quality products are some of the factors projected to open new avenues for the market players.

Segmentation

  • Steel Fiber Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Hooked
    • Straight
    • Deformed
    • Others
  • Steel Fiber Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Slabs & Flooring
    • Precast
    • Pavements & Tunneling
    • Others
  • Steel Fiber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • Russia
    • Asia Pacific
      • China
      • Australia
      • India
      • Japan
    • Central & South America
      • Brazil
    • Middle East and Africa
      • Saudi Arabia

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Table of Contents

Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Market definition
1.3 List of data sources
1.4 Information procurement
1.5 Information analysis
1.6 Market formulation & data visualization
1.7 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market outlook
2.2 Segmental outlook
Chapter 3 Steel Fiber Market Variables, Trends, & Scope
3.1 Global steel market outlook
3.2 Penetration & growth prospect mapping
3.3 Industry value chain analysis
3.3.4 Manufacturing trends in mining sector
3.5 Market dynamics
3.5.1 Market driver analysis
3.5.1.1 Growing construction spending in developing countries
3.5.1.2 Increased focus on infrastructure
3.5.2 Market restraint analysis
3.5.3 Industry challenges
3.6 Steel fiber market - Business environment analysis
3.6.1 Industry analysis - Porter’s
3.6.2 PESTEL analysis
Chapter 4 Steel Fiber Market: Type Estimates & Trend Analysis
4.1 Definition & scope
4.2 Type movement analysis & market share, 2018 & 2025
4.3 Hooked
4.3.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
4.4 Straight
4.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
4.5 Deformed
4.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
4.6 Others
4.6.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
Chapter 5 Steel Fiber Market: Application Estimates & Trend Analysis
5.1 Definition & scope
5.2 Application movement analysis & market share, 2018 & 2025
5.3 Slabs & flooring
5.3.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
5.4 Precast
5.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
5.5 Pavements & tunneling
5.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
5.6 Others
5.6.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
Chapter 6 Steel Fiber Market: Regional Estimates & Trend Analysis
6.1 Regional market snapshot
6.2 Regional movement analysis, 2018 & 2025
6.3 North America
6.3.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.3.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.3.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.3.4 U.S.
6.3.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.3.4.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.3.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.3.5 Canada
6.3.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.3.5.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.3.5.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.3.6 Mexico
6.3.6.1 Market estimates and forecasts, 2014 - 2025 (Kilotons, USD Million)
6.3.6.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.3.6.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.4 Europe
6.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.4.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.4.4 Germany
6.4.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons, USD Million)
6.4.4.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.4.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.4.5 U.K.
6.4.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.4.5.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.4.5.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.4.6 Russia
6.4.6.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.4.6.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.4.6.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.5 Asia Pacific
6.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.5.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.5.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.5.4 China
6.5.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.5.4.2 Market estimates and forecasts, by type, 2014 - 2025 (Kilotons, USD Million)
6.5.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons, USD Million)
6.5.5 Japan
6.5.5.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.5.5.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.5.5.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.5.6 India
6.5.6.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.5.6.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.5.6.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.5.7 Australia
6.5.7.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.5.7.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.5.7.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.6 Central & South America
6.6.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.6.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.6.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.6.4 Brazil
6.6.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.6.4.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.6.4.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.7 Middle East & Africa
6.7.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.7.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.7.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
6.7.4 Saudi Arabia
6.7.4.1 Market estimates and forecasts , 2014 - 2025 (Kilotons, USD Million)
6.7.4.2 Market estimates and forecasts, by type 2014 - 2025 (Kilotons, USD Million)
6.7.4.3 Market estimates and forecasts, by application 2014 - 2025 (Kilotons, USD Million)
Chapter 7 Competitive Analysis
7.1 Key global players & recent developments & their impact on the industry
7.2 Vendor landscape
7.2.1 List of key channel partners
7.2.2 Customer mapping, by region
7.3 SWOT, by top players
Chapter 8 Company Profiles
8.1 ArcelorMittal
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.1.4 Strategic initiatives
8.2 Bekaert
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
8.3 Kosteel Co. Ltd.
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Strategic initiatives
8.4 Hanson
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product benchmarking
8.4.4 Strategic initiatives
8.5 Fibrometals
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.5.4 Strategic initiatives
8.6 Spajic doo
8.6.1 Company overview
8.6.2.Financial performance
8.6.3 Product benchmarking
8.6.4 Strategic initiatives
8.7 Nippon Seisen
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product benchmarking
8.7.4 Strategic initiatives
8.8 Sunshine Steel Fiber
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.8.4 Strategic initiatives
8.9. R. STAT
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.9.4 Strategic initiatives
8.10 Onward Chemicals Pvt. Ltd.
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking

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