Concrete Reinforcing Fiber Market To Advance At CAGR Of 6.8% From 2022 To 2030
Concrete Reinforcing Fiber Industry Overview
The global concrete reinforcing fiber market size is expected to reach USD 3.96 billion by 2030, registering a CAGR of 6.8% during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for lightweight non-corrosive materials in the construction industry is expected to boost product demand in the forecast period. The advantages offered by the reinforcing fibers in concrete include widening of joint spacing and reduction in slab thickness. In addition, they also in reducing the spalling at joint edges and the overall formation & maintenance cost. The aforementioned benefits offered by the product are expected to augment its demand in heavy-load operating structures such as runways, aircraft, and warehouses.
Concrete Reinforcing Fiber Market Segmentation
Grand View Research has segmented the global concrete reinforcing fiber market based on product, application, and region:
Based on the Product Insights, the market is segmented into Polyethylene, Polypropylene, Steel, Basalt, Others.
Polyethylene (PE) fiber reinforced concrete accounted for 8.43% of the market in terms of revenue in 2021 due to limitations in the production of such products with high-stress resistance. However, increasing R&D by manufacturers to improve product properties concerning stiffness and strength is expected to drive the product demand over the forecast period.
Polypropylene (PP) reinforced product has exhibited a growing trend of the replacement of steel on account of attributes such as easy handling, lightweight, corrosion resistance, and rapid dispersion. In addition, the use of the product in earthquake-prone areas aids in the reduction of human casualties, leading to high adoption levels.
Rising demand for steel fiber reinforced concrete for manufacturing tunnel linings, pipes, and septic tanks is likely to propel demand over the projected period. In addition, these fibers are used for repairing existing pavements to reduce thickness, smoothen riding surface, and improve impact resistance which accounts for the high-volume usage of the product.
Basalt fiber is non-hazardous and environment-friendly which leads to its high use in the developed economies. In addition, the application of the basalt-based products in concrete results in up to 40% reduction in delamination of concrete.
Based on the Application Insights, the market is segmented into Infrastructure, Building & Construction, Industrial.
The products are used in the majority of the constructions including infrastructure, residential, and commercial. Initiatives taken by major manufacturers to produce lightweight macro-polymers with superior chemical stability are expected to open up new avenues for growth across various construction activities over the forecast period.
The market for concrete reinforcing fiber in the building and construction segment is expected to grow at a CAGR of 5.7% in terms of volume from 2016 to 2030, owing to properties such as crack management and permeability reduction in various structures. High demand for the product in foundations, grade slabs, floorings, basements, walls, etc. is expected to drive growth.
Ascending demand for rigid floors and walls in industrial construction on account of heavy-duty operations is expected to boost the consumption of fiber reinforced concrete.
Concrete Reinforcing Fiber Regional Outlook
Central & South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market for concrete reinforcing fiber is characterized by the presence of established players with a strong financial base, due to the capital-intensive nature of the production process. The companies operate through the manufacturing facilities at multiple locations with the distribution being carried out at several sales locations across the area of operation.
Some prominent players in the global concrete reinforcing fiber market include
CEMEX S.A.B. de C.V.
ABC Polymer Industries, LLC
The Euclid Chemical Company
Order a free sample PDF of the Concrete Reinforcing Fiber Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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