The steel fiber market is projected to grow from USD 1.96 billion in 2024 to USD 2.44 billion by 2029, at a CAGR of 4.5% during the forecast period. The steel fiber market is continuously growing with a significant growth rate due to its increasing demand from various applications, such as reinforced concrete, shotcrete, composites, and refractories. North America, Europe and Asia Pacific are major markets for steel fibers. The mechanical properties like tensile strength and high crack resistance make steel fiber a preferable material for various construction and infrastructure applications.
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Steel Fiber Companies
Some of the major manufacturers operating in the steel fiber market are Bekaert (Belgium), ArcelorMittal (Luxembourg), Nippon Seisen (Japan), Fibrometals (Romania), Sika AG (Switzerland), Jiangsu Shagang Group (China), Zhejiang Boen Metal Products Co., Ltd. (China), Green Steel Group (Italy), Spajic Doo (Serbia), Kosteel Co., Ltd. (South Korea), Severstal (Russia), Enviromesh Pty ltd. (Australia), Hunan Shuanxing Steel Fiber Co., Ltd. (China), and Kerakoll SPA (Italy).
All the major players in the past few years have been adopting various growth strategies to strengthen their position in the global steel fiber market. These growth strategies include product launches, contracts, agreements, collaborations, mergers and acquisitions, partnerships, and research and development activities aiming to expand their market presence in the steel fiber market even further.
Bekaert (Belgium)
Bekaert is a manufacturer as well as a supplier of steel fibers, the company has a rich history dating back to 1880, when it was established. Bekaert operates in steel wire solutions, rubber reinforcement, specialty business, Bridon- Bekaert Ropes Group segments. Under these segments the company produces a wide product range, including steel wires, steel fibers, automotive interior products, and steel fiber products.
Bekaert had a headcount of 26,980 employees and reported a revenue of USD 5,956.1 million in December 2022. The company’s products are available in countries all over the world and Europe accounts for the largest share of revenue earned by the company from a particular region.
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ArcelorMittal (Luxembourg)
ArcelorMittal is a global leader in finished and semi-finished steel products for various end use industries like construction, transportation, household appliances, and packaging. ArcelorMittal is headquartered in Luxembourg City, Luxembourg and was established in the year 2006. The company operates under three major segments namely, flat products, long products, and tubular products segment. Under these segments the company develops, manufactures, and markets a wide range of steel fiber products used in reinforcement applications in concrete and precast elements.
The company had a head count of 126,756 employees and a revenue of USD 79,844.0 million in the year 2022. Straumann’s products are available all around the globe and North America and Europe account for the largest share of revenue earned by the company from regions all around the world.
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