USD 2.34 billion
Report ID:
SQMIG15F2091 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
80
Concrete Reinforcing Fiber Market size was valued at USD 2.5 Billion in 2023 and is poised to grow from USD 2.67 Billion in 2024 to USD 4.52 Billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).
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 reinforcements materials. 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.
Global Market Size
USD 2.34 billion
Largest Segment
Steel
Fastest Growth
Polyethylene
Growth Rate
6.8% CAGR
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Global Concrete Reinforcing Fiber Market is segmented by type, material, end user, and region. Based on type, the market can be segmented into macro fiber, and micro fiber. Based on material, the market is segmented into synthetic concrete fiber, steel concrete fiber, glass concrete fiber, and others. Based on end user, the market is segmented into transport infrastructure, building & construction, mining & tunnel, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Concrete Reinforcing Fiber Market 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.
Concrete Reinforcing Fiber Market 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.
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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.
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Concrete Reinforcing Fiber Market Drivers
Advantages of Fiber-Reinforced Concrete:
Expanding Construction Sector:
Concrete Reinforcing Fiber Market Restraints
Market Fragmentation and Competition:
Cost Concerns:
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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.
Concrete Reinforcing Fiber Market Top Player’s Company Profile
Concrete Reinforcing Fiber Market 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.
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.
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.
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 2022 | USD 2.34 billion |
Market size value in 2031 | USD 4.23 billion |
Growth Rate | 6.8% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Concrete Reinforcing Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Report ID: SQMIG15F2091
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