USD 2.34 billion
Global Concrete Reinforcing Fiber Market Size, Share, Growth Analysis, By By Product(Polyethylene, Polypropylene), By By Application(Infrastructure, Building & Construction) - Industry Forecast 2024-2031
Report ID:
SQMIG15F2091 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
79
Global Concrete Reinforcing Fiber Market Insights
Global Concrete Reinforcing Fiber Market size was valued at USD 2.34 billion in 2022 and is poised to grow from USD 2.50 billion in 2023 to USD 4.23 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
Recently, the global market for concrete reinforcing fiber went through a period of transformation and growth. This is a direct result of the reshaping construction and infrastructure industries. Concrete reinforcing fibers are usually made from synthetic polymers, natural fibers, glass, and steel. Their use reduces chances of cracks, improving the tensile strength of concrete objects. The market is driven by the focus on increasing durability, strength and sustainability of any construction project.
A variety of construction projects utilize concrete reinforcing fibers. These include applications like industrial, residential, and commercial. Infrastructure projects also tend to use these materials. The construction industry is shifting to more sustainable materials and production methods, fueling market growth. This is in line with the rising awareness about the negative environmental impact of traditional construction practices. The durability of concrete reinforcing fibers reduces maintenance and repair costs of structures. The materials also remove the need for steel reinforcements. Their higher energy consumption rate can only deter environmental health, thus making concrete reinforcing fibers the perfect replacements.
Concrete reinforcing fibers improve speed and cost-efficiency of construction techniques. This has fueled its adoption in the construction industry. These fibers can improve concrete adaptability, reducing requirements for complicated formwork. This results in faster construction processes, further driving market growth.
As the population moves to urban areas, infrastructure development has increased, driving the need for these fibers. There are new projects lined up for the building of tunnels, bridges, roads, and more. The growth of the global market can be restrained due to some challenges. These issues include high costs and market division and competition.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Steel
Fastest Growth
Polyethylene
Growth Rate
6.8% CAGR
Global Concrete Reinforcing Fiber Market ($ Bn)
Country Share for North America Region (%)
Global Concrete Reinforcing Fiber Market By Product ($ Bn)
Global Concrete Reinforcing Fiber Market By Product (%)
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Global Concrete Reinforcing Fiber Market Segmental Analysis
Product based market division gives us the Polyethylene, Polypropylene, Steel, and Basalt segments, among others. Regionally, the market is split into the following segments: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In case of market segmentation based on application, the market is bifurcated into Infrastructure, Building & Construction, Industrial industries.
Analysis By Product
Steel fibers are widely accepted and used in the construction industry to reinforce concrete, making it the dominating segment of the global concrete reinforcing fiber market. The durability and strength of concrete structures can be enhanced by using steel fibers, making them Crack resistant and improving their capacity for load-bearing. A variety of construction applications, including bridge decks, industrial flooring, precast elements, and tunnels, utilize steel fibers. Their dominance in the market can be attributed to their long-standing reputation and widespread adoption in improving the overall performance of concrete structures.
Though steel fibers rule the market, polyethylene is growing rapidly in the market. These fibers are popular as they can not be corroded and are also free from chemical abrasion. The construction of wastewater treatment plants, marine structures, and industrial flooring use these material extensively. This is due to their previously mentioned benefits and its durability. They are a more environmentally healthy option over traditional reinforcement choices. This makes them suitable for lightweight and green construction projects. The rising awareness of environmental concerns has driven the demand for sustainable materials that don’t compromise performance, like concrete reinforcing fiber made with polyethylene.
Analysis By Application
In the global market for concrete reinforcing fiber, the building & construction category holds the largest share. Their heightened adoption of these fibers to improve durability and structural integrity of structures, along with offering crack resistance has led to the dominance of this segment in the market. Reducing the requirement for traditional steel reinforcement and increasing tensile strength are two frequent goals of adding fibers such as steel, glass, and synthetic materials to concrete mixes. The need for high-performance building materials and the ongoing growth of the construction sector both support this segment's dominance.
Conversely, the infrastructure segment has seen the quickest development in the application area for concrete reinforcing fibers. Increasing investments in infrastructure development globally, including roads, bridges, tunnels, and other public construction projects drive this segment’s growth. Concrete reinforcing fibers can improve load-bearing capacity and longevity of structures, boosting its adoption in infrastructure construction. These fibers are essential in large-scale infrastructure projects as they can improve resistance to environmental factors and reduce maintenance costs.
Global Concrete Reinforcing Fiber Market By Product, 2023 (%)
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Global Concrete Reinforcing Fiber Market Regional Insights
Traditionally, North America, particularly the United States, has taken the title of the largest region in the market for concrete reinforcing fiber. The region’s high construction activity, well-developed infrastructure, and stringent building codes have led to a thriving construction industry in North America creating a huge demand for concrete reinforcing fibers adn apply it to several applications, including commercial, residential, and infrastructure projects. The integration of advanced construction technologies, like the use of fiber-reinforced concrete, has driven market growth in the region.
However, Asia-Pacific, encompassing nations like China and India, has been one of the quickest-developing regions in the market. The demand for concrete reinforcing fibers in construction projects across the region sia direct result of its population growth, increased urbanization, and growth in infrastructure development. The use of reinforcing fibers in concrete mixes is subsequent to the region’s construction boom, which is seeing a trend of improving durability and overall performance of concrete structures. The growth of the market in the APAC region is also due to a growing number of government initiatives and investments in infrastructure development.
Global Concrete Reinforcing Fiber Market By Region, 2024-2031
- Largest
- Fastest
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Global Concrete Reinforcing Fiber Market Dynamics
Drivers
Advantages of Fiber-Reinforced Concrete:
- FRC (fiber-reinforced concrete) can increase the capacity of concrete to bear heavy loads. It can also diminish possibilities of cracks and improve impact resistance and enhance the structural performance of concrete. All these benefits have driven their boosted adoption in the various industries. FRC also improves the longevity of concrete. This leads to a shorter expense sheet for maintenance. The culmination of all these factors have upped the usage of concrete reinforcing fibers. They are being widely adopted in multiple construction projects. These can range from infrastructure developments to residential buildings.
Expanding Construction Sector:
- The global construction industry is thriving in the modern age. This is due to the rise in population, which has given way to rapid urbanization, paving the way for heightened infrastructure development. The growth of the construction industry is mirrored by the concrete reinforcing fiber market. The industry needs these materials for its strength and longevity, along with reduced concrete cracks. This has surged the adoption of these fibers in several construction applications, fueling market growth.
Restraints
Market Fragmentation and Competition:
- Market participants are divided in the overall market. These players provide a wide product portfolio, though they all produce different fiber types and formulations, all co-existing in the same market. This fragmentation drives more competition. The fragmented and competitive market diminishes profitability and adds pricing pressure on market players. These various options can also be confusing for market’s buyers. This will cause split decisions about choking the optimal fiber for specific industrial applications. This can hinder market expansion.
Cost Concerns:
- Concrete reinforcing fibers are priced at a higher cost compared to traditional reinforcement materials, like steel rebar. This has posed a major barrier to market growth. Even FRC, with its various benefits, can be overlooked by some construction projects due to its high costs. The financial burden this fiber puts on businesses may be detrimental in cases of smaller budgeted projects or in locations with limited financial resources.
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Global Concrete Reinforcing Fiber Market Competitive Landscape
A diverse array of key participants, like regional and international manufacturers, make up the concrete reinforcing fiber market’s competitive landscape. Some renowned firms in this market include Nycon Corporation, Sika AG, BASF SE, Bekaert SA, and Owens Corning. These industry leaders provide a wide range of concrete reinforcing fiber products, catering to diverse construction markets worldwide due to their global presence. In order to introduce innovative fiber solutions that improve durability, strength, and efficiency of concrete, these players heavily invest in R&D.
Other regional and niche players who focus on specific markets or applications co-exist with these industry leaders in the market. The companies that can improve product quality, maintain cost-effectiveness, and generate goods that fulfill specific customer requirements can thrive in this market. In order to expand their geographical reach and diversify their product portfolios, these participants also form strategic partnerships, collaborations, and acquisitions. The competition in the concrete reinforcing fiber market is expected to remain intense as the construction industry continues to evolve and demand for reinforced concrete grows, which in turn drives innovation and product development.
Top Player’s Company Profile
- BASF SE (Germany)
- Sika AG (Switzerland)
- Wuhan Xiangguang Fiber Co., Ltd. (China)
- Fibercon International Inc. (United States)
- Bekaert (Belgium)
- Schnell SpA (Italy)
- ELASTO Plastic Concrete Fiber (Turkey)
- Cemex S.A.B. de C.V. (Mexico)
- W. R. Grace & Co. (United States)
- Euclid Chemical Company (United States)
- FORTA Corporation (United States)
- Barchip (Canada)
- Celanese Corporation (United States)
- ABC Polymer Industries, LLC (United States)
- Nycon Corporation (United States)
- Tensar International Corporation (United States)
- Zydex Industries (India)
- Fiberstar, Inc. (United States)
- Mapei Corporation (Italy)
- Nycon (United States)
- Borouge (United Arab Emirates)
- GCP Applied Technologies (United States)
- PPG Industries (United States)
- Propex Global (United States)
Recent Developments
-
In April 2023, the International Organization for Standardization (ISO), a global body that is made up of the national standards bodies of various countries, passed the new rule pertaining to the use of reinforcing fibers in concrete. This code maintains a high level of performance and quality for these fibers to guarantee integrity during its use.
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In March 2023 Arcot Raman Research Institute (ARRI), an autonomous research institution engaged in the frontier fields of basic sciences, reveals the finding of a newly designed type of fiber for concrete reinforcement. This thread is produced from the graphene and is stronger than usual reinforcing threads which has attracted the construction industry to try the new material into their technologies.
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In February 2023, the Euclid Chemical Company, a leading supplier to the concrete and mortar industry, announced plans to introduce a new range of concrete-strengthening fibers. These are in the form of tyers derived from the recyclable materials that aim to meet the demand for sustainable materials in the construction sector, thereby providing solution to the environment problems, while maintaining the structural integrity.
Global Concrete Reinforcing Fiber Key Market Trends
- Increasing Adoption of Synthetic Fiber Reinforcements: The market for concrete reinforcing fiber is heavily influenced by a key market trend. That is the rising adoption of synthetic fibers. These fibers are replacing traditional steel reinforcement. Concrete mixes are extensively using synthetic fibers like polyethylene and polypropylene. This is due to their ability to resist cracks, coupled with high durability and tensile strength. Their abilities to resist corrosion and reduce weight have also helped its surged adoption. Also, they can be handled and distributed within a concrete mixture easily. Construction projects that are looking for environmentally healthy and cost-friendly solutions turn to synthetic fibers in the case of concrete reinforcement.
- Rising Focus on Sustainable Construction Practices: The global goal of sustainability has also affected the construction industry. This results in the trend of the usage of environmentally conscious and green materials. This is the perfect time for concrete reinforcing fibers to shine. The market has supplied eco-conscious fiber reinforcement options. These materials are produced from recycled elements. The construction industry is seeking a smaller carbon footprint from its construction projects. Thus the industry players are participating in sustainable practices. This drives their appeal in the eyes of environmentally conscious clients. This is also in line with environmental regulatory requirements and certifications, for example LEED (Leadership in Energy and Environmental Design). Producers have made substantial investments in research and development to create reinforcing fibers that meet the proposed standards of performance and sustainability.
Global Concrete Reinforcing Fiber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Based on our analysis, the global concrete reinforcing fiber market has been on a path of steady growth in recent years. The developments in the construction and infrastructure sectors globally have influenced this growth. The demand for these fibers is growing as a result of the increasing construction of infrastructure projects spanning residential, commercial, and industrial sectors globally. Concrete reinforcing fibers are suited to be used in a large number of applications owing to their ability to improve tensile strength and durability of concrete.
Manufacturers are targeting the production of fibers made from recycled and renewable sources as the need for green and eco-friendly construction materials. The growing awareness of the benefits of using reinforcing fibers in concrete, such as reduced maintenance costs and improved crack resistance has driven this market. These fibers can boost the structural integrity of buildings exponentially, making them vital in earthquake-prone regions. Additionally, the ongoing trend in emerging economies of infrastructure development and urbanization has heavily contributed to the demand for concrete reinforcing fibers.
Challenges like shifting raw material pricing and the availability of substitutes like steel reinforcing bars persist despite these encouraging trends. Nonetheless, it is anticipated that advancements in fiber technology along with heightened R&D endeavors will tackle these difficulties. In conclusion, it is anticipated that the demand for stronger, more resilient, and sustainable concrete solutions by the construction sector will propel the global market for concrete reinforcing fiber to continue growing.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.34 billion |
| Market size value in 2031 | USD 4.23 billion |
| Growth Rate | 6.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Concrete Reinforcing Fiber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Concrete Reinforcing Fiber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Concrete Reinforcing 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 Reinforcing 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Concrete Reinforcing Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Concrete Reinforcing Fiber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Concrete Reinforcing Fiber Market Report Snapshots
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