Global Steel Fibers Market Size is Expected to Grow to $1957.24 Million by 2029

Global Steel Fibers Market Overview

According to Global Market Monitor, the global steel fibers market size was $1429.15 million in 2023 and is expected to grow to $1957.24 million by 2029.Steel fibers exhibit superior properties of tensile strength, shear strength, crack resistance, durability, and corrosion resistance. Steel fibers are mainly used in reinforcement of the concrete to overcome the problem of concrete brittleness as well as to provide a better finish.

Lots of end-use industries are applying steel fiber in a variety of settings, including refractories, composite reinforcement, and concrete reinforcement. Steel fiber can be used in equipment foundations, blast-resistant concrete, airport pavements, and industrial slabs. Foam steel fiber demand is rising since there is an increased need for sustainable and lightweight materials. There will be a sharp increase in demand for foam steel fiber across a range of end-use industries due to the revival of the supply chain and OEMs beginning full operations.

Regional Market Status

Asia Pacific led the steel fiber market.High demand for steel fibers across the construction industries has fueled the market growth in the region. Emerging economies such as China and India are prominent consumers of steel fiber, due to growing investments in infrastructure projects.Steel fibers are extensively employed in the building and construction industries. China, India, Japan, and South Korea dominate the markets in these end-use sectors. The steel fiber market is expanding due to an increasing emphasis on sustainable building materials in various countries. These materials can be sourced from recycled steel. Increased investment in the building and construction industries has also led to the expansion of the steel fiber market.

North America represents the second largest share of the global steel fiber market, owing to the favorable growth showcased by the construction industry in the U.S. Europe is at the forefront of steady business growth. Increasing adoption of steel fiber in industrial flooring, warehouses, parking lots, motor roads, and other end-use industries has boosted the growth of the market in European countries. Germany is expected to be the fastest-growing market for steel fibers. Latin America，the Middle East, and Africa have witnessed steady growth in the global steel fiber industry attributed to the substantial growth in the construction sector.

Company Name	Bekaert
Website	www.bekaert.com
Established Time	1935
Plants Distribution	Europe
Sales Region	Worldwide
Business Overview	Bekaert SA provides steel wire transformation and coating technologies. The Company offers steel wire products and ropes. Bekaert serves telecommunications, oil and gas extraction, energy transportation, agricultural fences, solar wafering, and bookbinding industries worldwide.

For more industry information, please refer to our latest released "2023 Global Steel Fiber Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".