Concrete Reinforcing Fiber Market Size, Share, Growth Analysis, By By Product(Polyethylene, Polypropylene), By By Application(Infrastructure, Building & Construction) - Industry Forecast 2024-2031

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).

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 presence. In order to introduce innovative fiber solutions that improve durability, strength, and efficiency of concrete, these players heavily invest in R&D. '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 (United States)'

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.

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.

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.