The global steel fiber for concrete market is expected to exhibit strong growth, reaching USD 2.9 billion by 2030. As per the report titled "Steel Fiber for Concrete Market Size, Share & Recession Impact Analysis, By Type (Hooked, Straight, Deformed and Others), By Application (Slabs & Flooring, Precast, Pavements & Tunnelling and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 2.2 billion and USD 2.9 billion in 2030. The market is expected to exhibit a CAGR of 4.50’% during the forecast period.
Bekaert Obtained an Environmental Product Declaration (EPD), Demonstrating its Exceptional Sustainability Qualities
In October 2021, Bekaert obtained an environmental product declaration (EPD) for the production of Dramix steel fibres for concrete reinforcement in Petrovice (Czech Republic), highlighting its exceptional sustainability credentials. The EPD will allow anybody involved in construction, from architects to developers, to compare Dramix with conventional concrete reinforcing choices, allowing them to choose the option that will be the most ecologically responsible and durable over the course of their project.
Increase in Infrastructure Development will Drive the Industry
The expansion of infrastructure construction greatly influences the market for steel fibre for concrete. Governments all across the world are making significant investments in the construction of infrastructure, including roads, bridges, tunnels, airports, and other facilities for transportation. The demand for steel fibre for concrete is being driven by the widespread usage of this material in the construction of major projects. High-performance concrete that can survive heavy traffic loads, severe weather, and other environmental considerations is required for infrastructure development projects. In these conditions, steel fiber-reinforced concrete has shown to be a strong and dependable material, making it the material of choice for infrastructure building projects. Furthermore, the growing emphasis on sustainability and green infrastructure has boosted the demand for steel fibre for concrete in infrastructure development.
Lack of Awareness to Constrain Market Expansion
A lack of awareness significantly constrains the market for steel fibre for concrete. The advantages of employing steel fiber-reinforced concrete may not be well known to or fully understood by many construction industry experts, including engineers, architects, contractors, and builders. Due to this ignorance, steel fiber-reinforced concrete may not be widely used, even though it would be the best choice for a certain application. Construction experts may not be aware of steel fiber-reinforced concrete as an alternative in some situations, while in others they may be wary of using a novel substance with which they are unfamiliar.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading steel fiber for concrete market businesses plan acquisitions to improve their brand recognition globally. For instance, in June 2021, Sika AG introduced SikaFiber-1050 B&BA HF, a new concrete reinforcing steel fibre product that may be used for block and beam floors and improves the endurance of concrete toppings and prevents shrinkage cracking. ?
List of Key Players Profiled in the Report
Bekaert Obtained an Environmental Product Declaration (EPD), Demonstrating its Exceptional Sustainability Qualities
In October 2021, Bekaert obtained an environmental product declaration (EPD) for the production of Dramix steel fibres for concrete reinforcement in Petrovice (Czech Republic), highlighting its exceptional sustainability credentials. The EPD will allow anybody involved in construction, from architects to developers, to compare Dramix with conventional concrete reinforcing choices, allowing them to choose the option that will be the most ecologically responsible and durable over the course of their project.
Increase in Infrastructure Development will Drive the Industry
The expansion of infrastructure construction greatly influences the market for steel fibre for concrete. Governments all across the world are making significant investments in the construction of infrastructure, including roads, bridges, tunnels, airports, and other facilities for transportation. The demand for steel fibre for concrete is being driven by the widespread usage of this material in the construction of major projects. High-performance concrete that can survive heavy traffic loads, severe weather, and other environmental considerations is required for infrastructure development projects. In these conditions, steel fiber-reinforced concrete has shown to be a strong and dependable material, making it the material of choice for infrastructure building projects. Furthermore, the growing emphasis on sustainability and green infrastructure has boosted the demand for steel fibre for concrete in infrastructure development.
Lack of Awareness to Constrain Market Expansion
A lack of awareness significantly constrains the market for steel fibre for concrete. The advantages of employing steel fiber-reinforced concrete may not be well known to or fully understood by many construction industry experts, including engineers, architects, contractors, and builders. Due to this ignorance, steel fiber-reinforced concrete may not be widely used, even though it would be the best choice for a certain application. Construction experts may not be aware of steel fiber-reinforced concrete as an alternative in some situations, while in others they may be wary of using a novel substance with which they are unfamiliar.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading steel fiber for concrete market businesses plan acquisitions to improve their brand recognition globally. For instance, in June 2021, Sika AG introduced SikaFiber-1050 B&BA HF, a new concrete reinforcing steel fibre product that may be used for block and beam floors and improves the endurance of concrete toppings and prevents shrinkage cracking. ?
List of Key Players Profiled in the Report
- 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
- Yuthian Zhitai Steel Fiber Manufacturing
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global Steel fiber for concrete market share in the coming years because public infrastructure is becoming increasingly important and the building and construction industry is advancing.
- The transportation sector is expanding quickly in nations like China, India, and Australia, which has in turn boosted construction activity.
- In Europe, the growth in this region is primarily driven by large excavation jobs and average progress in the construction industry.
| Attributes | Details |
| Market Size in 2022 | USD 2.2 Billion |
| Market Forecast in 2030 | USD 2.9 Billion |
| Compound Annual Growth Rate | 4.50 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Types, By Applications and By Geography |
| By Types |
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| By Applications |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
