Steel Fiber Market Size

Steel Fiber Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Steel fibers are a new and growing industry. It is expected to grow at a strong CAGR of 7.4 percent from 2025 to 2035. This growth is largely driven by the growing demand for high-performance concrete in construction and civil engineering projects. Steel fibers increase the mechanical strength of concrete, making it more resistant to cracking, which is particularly useful for high-stress applications such as roads, bridges, and industrial floors. Further driving the market are technological advancements in the manufacture of steel fibers and the development of new products. The research and development budgets of major manufacturers are growing as they work to create products that are both more effective and more cost-effective. Bekaert, Nycon, and Euclid are strengthening their positions through strategic alliances and new product launches. Bekaert has been expanding its product range and distribution network. Nycon has launched new steel fibers designed for specific construction needs. These strategic moves are expected to contribute to the continued growth of the market.

Regional Market Size

Regional Deep Dive

Steel fibre is a market which is growing at a fast pace in many regions, owing to the increase in demand from the construction, automobile, and manufacturing industries. North America is characterized by an active investment in infrastructure and an increased emphasis on sustainable construction practices. Europe is characterized by a strong focus on innovation and regulatory compliance, particularly with respect to sustainable development. Asia-Pacific is characterized by rapid industrialization and urbanization, which is increasing the demand for steel fibres in concrete. Middle East and Africa is characterized by an increasing investment in infrastructure. In Latin America, steel fibre construction is gradually becoming more common, owing to economic recovery.

North America

• In the United States there is a revival of construction work, and societies like the American Society of Civil Engineers are advocating the use of better materials, including steel fibers.
• Steel fibers, in consequence of recent regulations in California, have been widely used for their toughness and performance.
• Bekaert and Nycon, the two main market players, are investing in R&D to develop advanced steel fibers for specific applications, thereby enhancing market competitiveness.

Europe

• Green Deal in the European Union is a sustainable building policy that has led to increased demand for steel fibers to increase the performance and service life of concrete structures.
• Steel fibres have been the subject of great development, notably hybrid fibres, by companies like Arcelor-Mittal, which has concentrated on improving the mechanical properties of concrete.
• Steel fibres are increasingly being used in public works, particularly in Germany and France, where they are regulated by the state. This is driving the market.

Asia-Pacific

• The Belt and Road project has created a massive investment boom in the construction of roads and railways, and a consequent rise in the demand for steel fibres for building materials in the region.
• The city of New York has been growing for more than a hundred years.
• In the construction industry, the newest product is steel fiber. The leading manufacturers, such as Tata Steel, are expanding their production capacity to include steel fiber.

MEA

• Moreover, the UAE is preparing for the exposition of the future and is investing heavily in construction in anticipation of the event. Steel fibers, for example, are in great demand for construction.
• The application of new construction methods is a part of the programme of the Kingdom’s Vision 2030. These methods include the use of steel fibres to increase the strength and resistance of concrete.
• Local companies have joined forces with international companies to develop a range of products, including steel fibre, to suit the particular climatic and regulatory conditions of the region.

Latin America

• Brazil is undergoing a building boom, and with the government's efforts to improve its public works, the demand for steel fibres for concrete is increasing.
• Steel fibres are used in the construction of buildings in Chile to increase their resistance to earthquakes.
• The construction industry is gradually changing its practices to more sustainable ones, and the companies like Gerdau are at the forefront of this change.

Did You Know?

“Steel fibres reduce the amount of concrete needed in construction by up to thirty per cent, resulting in substantial savings and less impact on the environment.” — International Journal of Concrete Structures and Materials

Segmental Market Size

Steel fibres are currently experiencing a period of growth, which is mainly due to the growing demand for high-performance concrete in construction and civil engineering projects. The main reasons for this are the need for greater resistance and tenacity of concrete, as well as the increasing trend towards sustainable building, which requires the use of materials with a lower environmental impact. The use of recycled materials in the construction industry is also a factor in the demand for steel fibres, which can be produced from recycled steel.

Steel fibres are now in a stage of maturity. Examples of this are the Belgian companies Bekaert and Nycon, which have a strong presence in Europe and America. Steel fibres are used primarily in industrial floors, in prefabricated concrete products and in shotcrete for mines and tunnels. But there are also a number of other applications, for which the demand is growing. This is mainly due to the demand for sustainable and resilient structures, but also to technological progress in the production of steel fibres and in the application methods. High-strength steel fibres, for example, are shaping the evolution of the sector and making it a vital part of modern construction methods.

Future Outlook

Steel fibers will be in great demand in the years 2024 to 2035, with a projected CAGR of 7.5 %. The high-performance concretes that are being used in construction and civil engineering projects are in great demand. They provide increased tensile strength and long service life. Steel fibers will be used in various applications, such as prefabricated concrete, shotcrete, and industrial flooring. The market penetration rate for steel fibers is expected to increase. In 2035, it is expected that steel fibers will be used in more than 30 % of concrete applications.

The market is mainly driven by technological advancement and policy. High strength, corrosion-resistant steel fibers are expected to broaden the product portfolio and expand their application. Government initiatives to promote sustainable construction and the use of recycled materials are also expected to boost demand for steel fibers as they help reduce the carbon footprint of concrete. The increasing integration of smart technology into building materials and the increasing demand for resilience in infrastructure are also important trends driving the market. Steel fibers will be used in the future to strengthen and stabilize structures.