PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498727
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498727
The Concrete Reinforcing Fiber Market size was valued at USD 2,549.93 million in 2023, expanding at a CAGR of 8.92% from 2024 to 2032.
Concrete reinforcing fibers are materials added to concrete to enhance its mechanical properties. These fibers help improve the strength, durability, and resistance of concrete to cracking and other forms of damage. Urbanization and infrastructure development across the globe drive the demand for high-performance construction materials, including fiber-reinforced concrete. Government regulations promoting the use of sustainable and durable construction materials encourage the adoption of fiber-reinforced concrete. Increasing emphasis on green building standards and sustainable construction practices can drive the demand for natural fibers and other eco-friendly reinforcement options.
Concrete Reinforcing Fiber Market- Market Dynamics
Increasing Construction Activities Across the Globe
As construction activities increase, the use of advanced materials, such as concrete reinforcing fibers, is also on the rise. Many countries are investing heavily in infrastructure projects such as roads, bridges, airports, and railways to support economic growth and improve connectivity. After the agricultural and domestic or home sectors, the construction industry was thought to employ the third largest number of people due to its labor-intensive nature. The industry employs more than 70 million people as of 2023, and by 2030, that number is predicted to rise to 100 million. In March 21, 2024. The integration of concrete reinforcing fibers in construction is expected to grow as the industry seeks more efficient and sustainable building methods. Innovations in fiber technology and increasing awareness of the benefits of fiber-reinforced concrete will likely drive further adoption.
Concrete Reinforcing Fiber Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.92% over the forecast period (2024-2032)
Based on end-user segmentation, Infrastructure was predicted to show maximum market share in the year 2023
Based on application segmentation, Flooring Applications was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Concrete Reinforcing Fiber Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into four categories based on end-user: Infrastructure, Building & Construction, Industrial, and Commercial. The infrastructure sector generated the most revenue in 2021. The market may expand as a result of the growing highway building in nations like China, India, and others, where concrete fiber is utilized to improve the load-carrying capacity of roadways and prevent fractures. Furthermore, the growing push for infrastructure development has drawn both domestic and foreign investment in the field. This is anticipated to accelerate the market's growth for concrete fiber applications in infrastructure.
The market is divided into eight categories based on application: Glass Manufacturing, Vinyl Production, Organic Chemical Production, Inorganic Chemical Production, Pulp & Paper Production, Water Treatment, Flooring Applications, and Others. The main trend in the market is the use of synthetic fiber-reinforced concrete for flooring applications. Additional uses for synthetic fiber reinforced concrete include power floated flooring, garage flooring, workshop flooring, and flooring for residential use. Additionally, external ground supported slabs can be constructed using synthetic fibre reinforced concrete, as well as pavements.
Concrete Reinforcing Fiber Market- Geographical Insights
To accommodate the region's growing urbanization, it is anticipated that the APAC region's growing population will spur an increase in infrastructure development. It is anticipated that the region's growing industrial activity will propel the market for industrial infrastructure, and the region's residential building industry will benefit from expanding employment as a result. The industry's expansion has been severely hindered by financial strain brought on by declining investments from both governmental and private clients. Emerging economies like China, India, and Southeast Asian countries are experiencing rapid urbanization and industrialization, leading to significant investments in infrastructure projects. This region represents a lucrative market for concrete reinforcing fibers due to the massive construction activities in residential, commercial, and industrial sectors.
Key players in the concrete reinforcing fiber market include BASF SE, Bekaert, Sika AG, Nycon Corporation, FORTA Corporation, Owens Corning, etc. BASF is a global leader in the chemical industry and a significant player in the concrete reinforcing fiber market. They offer a range of fibers for concrete reinforcement, including synthetic and steel fibers. Sika is a Swiss multinational company providing specialty chemicals for construction and industry. They offer a variety of concrete reinforcement solutions, including fibers, admixtures, and additives. In addition to these major players, there are numerous regional and local manufacturers and suppliers contributing to the competitive landscape of the concrete reinforcing fiber market. Factors such as product innovation, technological advancements, cost-effectiveness, distribution networks, and customer service play crucial roles in determining the competitive positioning of these players within the market.
In March 2023, Researchers at Fraunhofer WKI, working with Biberach University of Applied Sciences and the industry partner FABRINO, confirmed that natural fiber reinforcement in textile-reinforced components may take the place of traditional reinforced concrete components.
GLOBAL CONCRETE REINFORCING FIBER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF SE
Bekaert
CEMEX S.A.B. de C.V.
Sika AG
ABC Polymer Industries, LLC
Nycon Corporation
Ultratech Concrete
Owens Corning
FORTA Corporation
The Euclid Chemical Company
Others