What is Global Steel Fiber for Concrete Market?
The Global Steel Fiber for Concrete Market is a vast and dynamic sector that encompasses the production and distribution of steel fibers used in concrete applications. These steel fibers are integral components in the construction industry, providing strength and durability to concrete structures. The market is driven by the increasing demand for durable and high-strength construction materials. The global market for steel fiber for concrete was valued at a significant US$ 711.5 million in 2023 and is projected to reach an impressive US$ 958.7 million by 2030. This growth trajectory indicates a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2024 to 2030.
Carbon Steel Fibre, Alloyed Steel Fibre, Stainless Steel Fibre in the Global Steel Fiber for Concrete Market:
The Global Steel Fiber for Concrete Market is segmented into various types based on the material used in the production of the fibers. These include Carbon Steel Fibre, Alloyed Steel Fibre, and Stainless Steel Fibre. Carbon Steel Fibre holds the largest market share, accounting for 60% of the global market. This is due to its high tensile strength and durability, making it a preferred choice for many construction applications. Alloyed Steel Fibre and Stainless Steel Fibre also hold significant market shares due to their unique properties, such as corrosion resistance and high-temperature resistance, which make them suitable for specific applications.
Roads and Bridges, Constructions, Pipes and Tunnels, Others in the Global Steel Fiber for Concrete Market:
The Global Steel Fiber for Concrete Market finds its applications in various sectors, including Roads and Bridges, Constructions, Pipes and Tunnels, among others. The Roads and Bridges sector is the largest end-user of steel fiber for concrete, accounting for 44% of the global market. This is due to the high demand for durable and high-strength materials in the construction of roads and bridges. The construction sector also utilizes a significant amount of steel fiber for concrete, given the material's ability to enhance the strength and durability of concrete structures. The use of steel fiber for concrete in pipes and tunnels is also notable, given the need for high-strength and durable materials in these applications.
Global Steel Fiber for Concrete Market Outlook:
The market outlook for the Global Steel Fiber for Concrete Market is promising. The market, which was valued at US$ 711.5 million in 2023, is expected to reach US$ 958.7 million by 2030, growing at a CAGR of 4.3% during the forecast period from 2024 to 2030. The largest share of the market is held by the Carbon Steel Fibre segment, which accounts for 60% of the global market. In terms of applications, the Roads and Bridges segment is the largest end-user, accounting for 44% of the global market. Geographically, Europe holds the largest market share, accounting for 44% of the global market. This is due to the high demand for steel fiber for concrete in the region's robust construction industry.
| Report Metric | Details |
| Report Name | Steel Fiber for Concrete Market |
| Accounted market size in 2023 | US$ 711.5 million |
| Forecasted market size in 2030 | US$ 958.7 million |
| CAGR | 4.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Bekaert, Spajic, ABC Polymer Industries, Fibercon International, Harex, Nycon Corporation, Sika, GUVEN METAL, Maccaferri, HIC, Jinzhou Guang Ya, Hunan Sunshine, Coschon, Chongqing Fu Xiang Metal, Yutian Zhitai Steel Fiber Manufacturing, Shanghai Harex Steel Fiber Technology |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
