New York, NY -- (SBWIRE) -- 12/21/2020 -- The steel fiber market is set to attain a valuation of USD 2.90 billion by 2027, registering a CAGR of 6.8%, according to the latest report by Reports and Data. The multiple benefits on the usage of steel fiber, including steel consumption, optimization in actual savings, and faster construction has created a positive impact on the market. The applications of steel fiber are widespread in several industries including composite reinforcement, concrete reinforcement, and refractories.
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Market Drivers
The major driving force for the development of the steel fiber market is the construction of airports, expressways and rails. The sectors are projected to register a huge rise in the demand for the products. Bridges, highways, and replacement of old structures, coupled with investments on public infrastructure are the critical factors for the growth. Government spending may also drive the market. It has a variety of applications in commercial construction, residential and non-residential, where structural strength is required.
The leading companies operating across the global Steel Fiber market are listed below:
Yutian Zhitai Steel Fiber Manufacturing, Zhejiang Boean Metal Products, Kosteel Co. Ltd., Nippon Seisen, Green Steel Group, ArcelorMittal, Fibrometals, Sunshine Steel Fiber, Bekaert, and Hanson, among others.
For the purpose of this report, Reports and Data have segmented into the global Steel Fiber market on the basis of type, manufacturing process, application, and region:
Type Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
Straight
Deformed
Hooked
Others
Manufacturing Process Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
Cold Drawn
Slit Sheet
Melt Extract
Others
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Application Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
Concrete Reinforcement
Composite Reinforcement
Refractories
Others
Regional Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
Regional Analysis
According to reports, China and India are anticipated to witness rapid growth in the steel fiber market during the forecast period. Major tunneling projects in Europe and the development of the construction sector in the region are primary factors which may benefit the market during the projected period. Currently, steel fiber is widely used in developed regions as a reinforcing component, which is in high demand for car parking, industrial flooring, logistic centers, warehouses, airports, swimming pools, and motor roads.
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Table of contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Steel Fiber Market Segmentation & Impact Analysis
Chapter 5. Steel Fiber Market By Type Insights & Trends
Chapter 6. Steel Fiber Market By Manufacturing Process Insights & Trends
Chapter 7. Steel Fiber Market By Application Insights & Trends
Continued….
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