USD 2.19 billion
Report ID: SQMIG15F2060 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 65 | Figures: 76
Concrete Fiber Market size was valued at USD 2.19 billion in 2021 and is poised to grow from USD 2.34 billion in 2022 to USD 3.73 billion by 2030, at a CAGR of 6.9% during the forecast period (2023-2030).
The industry's expansion is anticipated to be aided by rising public investment in infrastructure building and a growing emphasis on using environmentally friendly building materials. The market for concrete fibres is anticipated to grow in demand along with the increased popularity of off-site building.
The worldwide construction sector is anticipated to grow as a result of expanding population, rapid urbanisation, and industrialization in emerging economies. As a result, demand for reinforced concrete is anticipated to increase in a number of construction applications, fuelling growth. Due to the advancing state of the economy, it is anticipated that the market would be pushed by a rise in commercial construction activity. The need for more office and storage space has arisen as a result of the expansion of commercial sectors like the food and consumer goods industries. This has had a substantial impact on the building sector and the need for paving slabs as long-lasting and attractive flooring.
The bulk of the actors in the supply chain for product manufacturers work to produce and manufacture the raw materials used to make paving slabs, which results in a highly linked supply chain for product manufacturers. A significant direct distribution network is also possessed by the majority of market participants, which facilitates the smooth flow of products and aids in the development of a larger market. Multiple players offering higher-quality goods at competitive rates with minimal product distinction have reduced switching costs for consumers, increasing their leverage in negotiations.
US Concrete Fiber Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 2.19 billion
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Global Concrete Fiber Market is segmented on the basis of product, application and region. By product, the market is segmented into steel, synthetic, polyethylene, natural, basalt. By application, market is segmented into infrastructure, building & construction, industrial. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Concrete Fiber Market Analysis by Product
Due to constraints in the production of such goods with high-stress resistance, polyethylene (PE) fiber reinforced concrete accounted for 8.43% of the market in terms of revenue in 2022. Over the projected period, however, it is anticipated that increased R&D by manufacturers to enhance product stiffness and strength will fuel demand for the product. Due to characteristics including ease of handling, light weight, resistance to corrosion, and quick dispersion, polypropylene (PP) reinforced products have shown a growing trend of replacing steel in manufacturing. Furthermore, the product's widespread popularity is a result of the fact that it helps reduce the number of fatalities among people in earthquake-prone regions.
Over the anticipated period, demand for steel fiber reinforced concrete is expected to increase due to the production of pipelines, septic tanks, and tunnel linings. The great volume usage of the product can be attributed to the fact that these fibers are also utilized for rebuilding old pavements in order to thin them out and increase impact resistance.
Concrete Fiber Market Analysis by Application
Due to qualities including managing cracks and reducing permeability in various constructions, the market for concrete fiber in the building and construction sector is anticipated to expand at a CAGR of 5.7% in terms of volume from 2022 to 2030. Growth is anticipated to be fueled by the product's high demand for use in basements, walls, floors, grade slabs, and foundations. Over the projected period, new opportunities for growth across different building activities are anticipated as a result of key manufacturers' initiatives to make lightweight macro-polymers with better chemical stability.
An increasing market share was held by transport and infrastructure in 2022, and it is anticipated that this trend will continue during the projection period due to the numerous infrastructure projects underway around the world. In the construction of roads, highways, bridges, railway stations, ports, and airports, concrete fibers are utilized as a reinforcement material. The construction and building category have a xx% market share throughout the forecast period, followed by transport & infrastructure end users. Most structures, including residential and commercial ones, are constructed using concrete fibers.
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Due to the growing market in North America and the region's industrial sector, these developments are expected to occur. Over the next seven years, it is anticipated that the market for concrete reinforcing fiber in North America will experience positive growth due to a high influx of private investments in the construction sector in 2022 and an increase in building activity. The increasing use of concrete in underwater structures for infrastructural development in economies like Turkey is predicted to be the main driver of the demand for reinforced concrete in the region. Additionally, the expansion of the business is anticipated to be fueled by the construction of marine infrastructure like bridges and tunnels in developed nations.
The APAC region's growing population is predicted to lead to an increase in infrastructure projects to support the area's growing urbanization. The market for industrial infrastructure is anticipated to be driven by the expansion of industrial activity in the area, and the resulting increase in jobs is anticipated to fuel the region's residential construction market. The industry's growth has been significantly impacted by financial strain brought on by declining investment from public and private clients.
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Concrete Fiber Market Drivers
Growing focus on construction quality and durability
Advantages over traditional reinforcement methods
Concrete Fiber Market Restraints
Compatibility and mix design challenges
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The global concrete fiber market is highly competitive, with several key players operating worldwide. These companies compete based on factors such as product offerings, innovation, quality, pricing, and distribution networks.
Concrete Fiber Market Top Player’s Company Profiles
Concrete Fiber Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global concrete fiber market has experienced significant growth in recent years, driven by the increasing demand for reinforced concrete in various construction applications. Concrete fibers are widely used as a reinforcement solution to improve the mechanical properties and durability of concrete structures. One of the key drivers for the market is the growing focus on construction quality and durability. With the need for long-lasting and high-performance structures, concrete fibers offer enhanced crack control, impact resistance, and durability, thereby extending the service life of concrete elements. The increasing emphasis on sustainable construction practices has also contributed to the market growth. Concrete fibers made from recycled materials or with low carbon footprints are gaining popularity as eco-friendly alternatives to traditional reinforcement methods. Governments and industry bodies worldwide are encouraging the use of sustainable construction materials, further boosting the demand for concrete fibers.
|Market size value in 2021
|USD 2.19 billion
|Market size value in 2030
|USD 3.73 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Concrete Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Concrete Fiber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Concrete Fiber Market:
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