Concrete Fiber Market Size, Share, Trends, Growth and Forecast 2032

Concrete Fiber Market Insights

Zion Market Research has published a report on the global Concrete Fiber Market, estimating its value at USD 2.77 Billion in 2023, with projections indicating that it will reach USD 5.59 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 8.1% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Concrete Fiber Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Market Overview

Fiber Reinforced Concrete can be defined as a composite material consisting of mixtures of cement, mortar, or concrete and discontinuous, discrete, uniformly dispersed suitable fibers. Fiber reinforced concrete is of different types and properties with many advantages. Continuous meshes, woven fabrics, and long wires or rods are not considered to be discrete fibers. Q Fiber is a small piece of reinforcing material possessing certain characteristics. They can be circular or flat. The fiber is often described by a convenient parameter called "aspect ratio". The aspect ratio of the fiber is the ratio of its length to its diameter. Typical aspect ratio ranges from 30 to 150. Q Fiber reinforced concrete (FRC) is concrete containing fibrous material that increases its structural integrity. It contains short, discrete fibers that are uniformly distributed and randomly oriented. Fibers include steel fibers, glass fibers, synthetic fibers and natural fibers. Within these different fibers, the characteristics of fiber reinforced concrete change with varying concrete, fiber materials, geometries, distribution, orientation, and densities.

COVID-19 Impact Analysis

The COVID had a significant influence on market dynamics, the value chain, and market segmentation. The condition of the concrete fiber market in terms of revenue was hampered, and the industry was economically adversely affected. The lesser demand for concrete fibers has led to the overcapacity. The industry has put its construction on hold, but retained its sustainability and strength of the market. Due to lockdown, this affected and led to a production halt.

Growth Factors

Growth in sales as well as in demand for non-corrosive materials due to urbanization and growth in the population coupled with rising demand for products from the end-user industry is a driving factor for the concrete fiber market size. The market steers too high as it controls the prevention of the plastic from shrinking and cracking.

Reduction in the cost of production and adopting processes of production that increase growth and efficiency. Growth in the concrete fiber market revenue is being driven by government initiatives as well as funding for setting up industry and expanding business.

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Concrete Fiber Market: Report Scope

Type Segment Analysis Preview

On the basis of type, the market is bifurcated into Synthetic Concrete Fiber, Natural Concrete Fiber Synthetic Concrete Fiber is having its dominance in this segment due to various properties like high durability, shock & fatigue resistance, ductility, enhanced toughness and excellent flexural & tensile strength.

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Analysis of application channel segments Preview

Applications are projected to grow at a CAGR of around 39.80% from 2021 to 2028. Mining and tunneling, be it open pit or underground, is an industry with elevated costs and correspondingly high safety hazards. The industry continues to invest significantly in emergency planning. The high investment and increased incorporation of advanced technologies in the sector are estimated to exhibit significant opportunities for market expansion in the near future. Local construction and development markets are gaining traction all across the globe. According to a recent report by Deloitte on the European construction industry, construction companies are becoming increasingly aware of the opportunities arising from the economic growth of local construction markets, which has been reflected in the increase in mergers and acquisitions activity.

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Regional Analysis Preview

North America is holding onto its dominance in this market. Over recent years, China has witnessed strong economic growth coupled with a high population growth rate. China's cities have been transformed to make room for this influx of people. By some estimates, half of China’s infrastructure has been built since 2000, with new railroads, interstates, dams, airports, and high-rise apartment buildings springing up across the country.

Urban population growth is a significant megatrend that is transforming the construction industry. The main advantages of fiber reinforced concrete are its quick construction time and low cost. This makes it popular among constructors and contractors. The continuous development in the commercial and residential sectors in France requires fiber reinforced concrete for modern infrastructure. The growth is primarily attributed to rising incomes from the economic growth, and the growth in the housing and construction markets in the country is likely to continue during the forecast years.

Key Market Players & Competitive Landscape

Some key players in Concrete Fiber Market are-

• BASF SE ofGermany
• Nyon
• The Euclid Chemical Company
• Owens Corning of UnitedStates
• Sika AG of Switzerland
• Bosfa
• Propex Operating Company LLCof United States
• ABC Polymer Industries LLC of United States,Helix Steel Dow
• GCP Applied Technologies Inc.

The Concrete Fiber Market is segmented as follows:

By Type

• Synthetic Concrete Fiber
• Natural Concrete Fiber

By Technology

• Transport Infrastructure
• Building & Construction
• Mining & Tunnel
• Industrial Flooring
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa