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Steel Fiber Market Overview:The latest report by Market Research Future (MRFR) speculates that the global steel fiber market is all set to represent a robust growth rate throughout the forecast period (2018–2023), backed by a number of factors.
The manufactured fibers which mainly composed of steel, metal-coated plastic, plastic-coated steel, or a steel core. The steel fibers are generally produced from the steel alone or in combination with other substances. The filaments below 100 µm in diameter are considered as fibers. The product exhibits substantial physical and electrical properties such as high corrosion and thermal resistance good electric and heat conductivity, and excellent Electromagnetic Interference (EMI) shielding capabilities.
In contrast, the global steel fiber market industry is witnessing extraordinary surge in the form of numerous mergers and acquisitions. Consolidation is touching every substantial domestic industry, backed by the acquirers’ profitable balance sheets as well as private equity and evade funds, benefitting continuously from the huge pools of institutional capital. Citing an example, Arcelor Mittal (Europe) had come up with a three-year investment program worth USD 1 billion for Mexico in 2018.
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Steel Fiber Market Key Players:
The leading players in the global steel fiber market are;
• Fibrometals (Romania)
• Bekaert (Belgium)
• Nippon Seisen Co., Ltd. (Japan)
• Green Steel Group (Italy)
• Ugitech S.A. (France)
• IntraMicron, Inc. (US)
• Ribbon Technology Corporation (US)
• HuNan HuiTong Advanced Materials CO., LTD. (China)
• R. STAT SAS (France)
• Fibercon International Inc. (US)
Steel Fiber Market Segmentation:
The global Steel Fiber market has been segmented on the basis of type, application, end-use, and region.
Based on type, the global steel fiber market has been segregated into hooked steel fiber, straight steel fiber, deformed steel fiber, and crimped steel fiber.
By application, the market has been categorized into concrete reinforcement, composite reinforcement, and refractories.
The global steel fiber market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The end users in the global steel fiber market include buildings & construction, transportation, mining and tunneling, flooring and pavement, and others. The buildings and construction industry have been the largest consumer of steel fibers among all the end-users. The segment is in the leading position as a result of the numerous structural and functional benefits like resistance to shock and vibrations, high strength, and protection against EMI and RFI.
Steel Fiber Market Regional Analysis:
North America is not very far behind, as the steel fiber market in the region has observed a radical development over the past couple of years. The strong market growth has been the result of the rising product demand from industries like textile, construction, infrastructure, and various other industries.
Europe market for steel fiber remains one of the strong contenders in the global market, with increasing efforts by the regional players, striving to expand their presence in the market. for instance, Bekaert (Belgium) went ahead with a sale and distributing joint venture with another company, Maccaferi. This aided the company in promoting its steel fiber products, particularly in the underground construction applications.
Owing to the availability and affordability of steel fiber, the Middle East and Africa market is expanding moderately. Moreover, booming construction and infrastructure industries in the region will help the market do good business in the forthcoming years.
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