[103 Pages Report] The Steel Fiber Market is projected to grow from USD 2.0 billion in 2018 to USD 2.5 billion by 2023, at a CAGR of 5.0% between 2018 and 2023. The market is growing due to the high demand from infrastructure and construction industries. Steel fiber is used in these industries as they exhibit properties such as superior tensile strength, crack resistance, durability, corrosion resistance, and high shear strength.
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Hooked steel fiber is the most commonly used type of steel fiber. Hooked steel fiber is used in concrete reinforcement in hydraulic structures, airport and highway paving, industrial floor, refractory concrete, bridge decks, shotcrete linings, and explosion resistant structures. Flooring, roof slab, bridges, water tanks, sports stadium, conference halls, tunnel lining, dams, canal lining, and blast-resistant structures come under the concrete reinforcement application.
APAC is the largest Steel Fiber Market, in terms of both value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. Demand for steel fiber is expected to increase in the region during the forecast period with the increasing demand from infrastructure, construction, textile, and other industries.
The major players in the Steel Fiber Market include Arcelor Mittal (Luxembourg), Bekaert (Belgium), Fibrometals (Romania), Nippon Seisen (Japan), Zhejiang Boean Metal Products (China), Green Steel Group (Italy), Spajic Doo (Serbia), Hunan Sunshine Steel Fiber (China), Yuthian Zhitai Steel Fiber Manufacturing (China), and R. STAT (Saint-Jean-Bonnefonds).
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