Concrete Reinforcing Fiber Market
Concrete Reinforcing Fiber Market Study by Synthetic, Steel, Glass, Natural, and Basalt Fiber for Transport Infrastructure, Construction, Mining & Tunneling, and Industrial Flooring from 2024 to 2034
Analysis of Concrete Reinforcing Fiber Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Concrete Reinforcing Fiber Market Outlook (2024 to 2034)
Reshaping of the infrastructure and construction industries is leading to the global concrete reinforcing fiber market size reaching a value of US$ 3.25 billion in 2024. Worldwide sales of concrete reinforcing fiber are forecasted to climb at a CAGR of 7.8% and end up at US$ 6.89 billion by 2034.
Concrete reinforcing fibers are used extensively in multiple construction products, including commercial, residential, and industrial. Infrastructure projects are leading to an inclination to more sustainable production methods and products. In addition, increasing awareness related to the adverse environmental impacts of conventional construction practices is also increasing demand for concrete reinforcing fiber.
Preference for durability and reduced repair and maintenance costs of structures are anticipated to lead to the growing demand for concrete reinforcing fiber. These fiber are used as cost-effective building materials and help in increasing the speed of construction projects. They are estimated to reduce demand for complicated formwork and improve concrete adaptability.
- Sales of concrete reinforcing fiber in Japan are projected to rise at a CAGR of 8% from 2024 to 2034.
- East Asia is forecasted to account for 24.6% of the global concrete reinforcing fiber market share by 2034.
- Worldwide demand for concrete reinforcing fiber for transport infrastructure is expected to increase at 8.2% CAGR and reach a market value of US$ 1.58 billion by 2034-end.
With an increasing population along with a movement to urban areas, a rising demand for infrastructure development is encountered. These new projects aim to build roads, bridges, tunnels, and many more. All these factors are expected to contribute to the growing popularity of concrete reinforcing fiber because of their combined properties of maintenance, beauty, and strength, which is anticipated to keep the threat of adoption of substitute options to its minimum, and subsequently, is driving lucrative market growth opportunities. Rising demand for non-corrosive materials is also forecasted to positively influence the concrete reinforcing fiber market trends in the coming decade.
| Report Attributes | Details |
|---|---|
| Concrete Reinforcing Fiber Market Size (2024E) | US$ 3.25 Billion |
| Forecasted Market Value (2034F) | US$ 6.89 Billion |
| Global Market Growth Rate (2024 to 2034) | 7.8% CAGR |
| Market Share of Basalt Fiber (2034F) | 55.7% |
| North America Market Share (2034F) | 17.5% |
| South Korea Market Growth Rate (2024 to 2034) | 10.7% CAGR |
| Key Companies Profiled |
|
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What is Responsible for Expanding Concrete Reinforcing Fiber Market Size?
“Preference for Sustainable Solutions Due to Stringent Environmental Regulations”
Worldwide demand for concrete reinforcing fiber is influenced positively by the implementation of stringent environmental regulations. The evolution of these regulations is stimulating multiple end-use industries to bring changes in their production modes. Concrete reinforcing fiber fit well due to their high strength, durability, and environment-friendly properties. Therefore, growing awareness about environmental footprints among more people and organizations is estimated to increase demand for concrete reinforcing fiber going forward.
What are the Issues with Concrete Reinforcing Fiber That Manufacturers Need to Work On?
“Easy Availability of Alternative Options and Volatility in Prices of Raw Materials”
There are certain raw materials, including glass fiber, plastic fiber, etc. which are easily available for end-use industries, and create a competitive environment for target market players. Some of the prominent raw materials, which are used in the production of concrete reinforcing fiber; polyester and polypropylene experiencing price fluctuations. With uncertainty in the prices of crude oil, an adverse impact on the sales of concrete reinforcing fiber is also experienced.
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What Strategies are Startups Employing to Remain Competitive?
“Using Ready-to-mix Concrete for Improved Strength”
New companies are set to invest more in R&D activities for the development of more advanced manufacturing techniques. They are expected to look for some other alternative raw materials, which can be used in the production of concrete reinforcing fiber without making any compromise with the features and quality. The utilization of RMC (ready-to-mix concrete) fiber in potentially high growth countries is projected to help manufacturers speed up their production procedure, which is estimated to further contribute to market dynamics.
Country-wise Insights
Fact.MR, a market research and competitive intelligence provider, in its recently updated study, reveals that East Asia is forecasted to hold 24.6% share of the global market by 2034. An expansion of several end-use industries, such as construction, transportation, aviation, etc. are contributing to the increased demand for concrete reinforcing fiber in the region.
Why are Suppliers of Concrete Reinforcing Fiber Focusing on the United States?
“High Requirements for Concrete Reinforcing Fiber for Multiple Applications”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 503.6 Million |
| Growth Rate (2024 to 2034) | 5.8% CAGR |
| Projected Value (2034F) | US$ 886.4 Million |
The United States is evaluated to account for 73.5% share of the market in North America by 2034-end. With constant improvements in the housing market, an increased demand for concrete reinforcing fiber is witnessed. The presence of some of the prominent players in the country is also contributing to market growth. Furthermore, rising requirements for steel fiber in multiple applications, including tunnels, construction, dams, bridges, etc. are also contributing to market growth.
Why is China a Money Spinning Market in the East Asian Region?
“Growing Spending on Non-residential Projects in Infrastructure”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 412.6 Million |
| Growth Rate (2024 to 2034) | 8.9% CAGR |
| Projected Value (2034F) | US$ 971.4 Million |
China is forecasted to enjoy 57.3% of the East Asian market revenue share by the end of 2034. Rising population, household growth, and increasing urbanization in the country are estimated to generate demand for concrete reinforcing fiber in the construction sector. The government in the country is investing to create affordable housing for families coming from low-income strata, which is creating growth impetus for suppliers of concrete reinforcing fiber. Further, rising spending on non-residential projects in China is also creating opportunities for market players.
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Category-wise Insights
Transport infrastructure, building & construction, mining & tunneling, and industrial flooring are some of the prominent end-use industries of concrete reinforcing fiber. Among these, a significant portion of the demand is expected to come from the transport infrastructure sector due to supportive government policies and programs. Moreover, the ability of concrete reinforcing fiber to provide mechanical strength and exceptional durability is widening their application scope.
Which Kind of Concrete Reinforcing Fiber is Projected to Gain Prominence?
“Growing Use of Basalt Fiber on Back of its Excellent Mechanical Properties”
| Attribute | Basalt Fiber |
|---|---|
| Segment Value (2024E) | US$ 1.81 Billion |
| Growth Rate (2024 to 2034) | 7.8% CAGR |
| Projected Value (2034F) | US$ 3.84 Billion |
Basalt fiber are projected to hold 55.7% share of the global market by the end of the forecast period in 2034. The growing utilization of basalt fiber as an efficient alternative to glass and steel rebar is projected to generate lucrative opportunities for players.
Some excellent mechanical properties are associated with basalt fiber, such as high tensile strength, etc., which contributes to its popularity. Further, the increasing use of basalt fiber in numerous applications, including reinforced nets, pipe containers, and various other electrical insulation materials is driving market dynamics.
In Which End-use Industry is Concrete Reinforcing Fiber Used More?
“Increasing Use of Concrete Reinforcing Fiber in Transport Infrastructure”
| Attribute | Transport Infrastructure |
|---|---|
| Segment Value (2024E) | US$ 718.7 Million |
| Growth Rate (2024 to 2034) | 8.2% CAGR |
| Projected Value (2034F) | US$ 1.58 Billion |
Transport infrastructure is anticipated to contribute 22.9% of the global market revenue share by the end of 2034. The rising popularity of concrete reinforcing fiber in transport infrastructure is owing to their ability to offer exceptional durability, mechanical strength, and impact resistance. Further, rising investments in the transportation sector are contributing to increased demand for concrete reinforcing fiber. Supportive programs and policies by certain governments are also widening opportunities for players.
Competitive Landscape
Offering quality products, approvals, management of respective supply chain systems, acquisitions, mergers, collaborations, etc. are adopted as noteworthy strategies by market players to strengthen their position. They are investing in new product launches to provide concrete reinforcing fiber of improved quality at competitive prices to attract new customers.
For instance :
- GCP Applied Technologies Inc. came up with Version 2.0 of its macro synthetic fiber, the STRUX 90/40 in 2020. It is utilized in multiple concrete applications.
Key players in the concrete reinforcing fiber market include Nycon Corporation, CEMEX, Sika AG, Owens Corning, Bekaert, FORTA Corporation, ABC Polymer Industries, LLC, The Euclid Chemical Company, BASF SE, and Ultratech Concrete.
Segmentation of Concrete Reinforcing Fiber Market Research
-
By Product :
- Chlorine-based
- Caustic Soda-based
- Soda Ash-based
-
By Application :
- Glass Manufacturing
- Vinyl Production
- Organic Chemical Production
- Inorganic Chemical Production
- Pulp & Paper Production
- Chlorinated Intermediates
- Water Treatment
-
By Region :
- North America
- Europe
- East Asia
- Latin America
- Middle East & Africa
- South Asia & Oceania
- FAQs -
How big is the size of the concrete reinforcing fiber market in 2024?
The global concrete reinforcing fiber market is calculated at US$ 3.25 billion in 2024.
What is the sales outlook for concrete reinforcing fiber for 2034?
Demand for concrete reinforcing fiber is anticipated to reach a market value of US$ 6.89 billion by 2034-end.
What is the projected growth rate for the global market?
The global market is forecasted to expand at 7.8% CAGR from 2024 to 2034.
What is the contribution of East Asia to global market revenue?
East Asia is approximated to account for 24.6% share of global market revenue by 2034.
At what CAGR are the sales of concrete reinforcing fiber expected to rise in South Korea?
Sales of concrete reinforcing fiber in South Korea are expected to rise at a CAGR of 10.7% from 2024 to 2034.
What is the market scenario for basalt fiber?
Global demand for basalt fiber is projected to increase at a CAGR of 7.8% and reach a value of US$ 3.84 billion by 2034.
Is fiber food in concrete?
Fiber-reinforced concrete offers more tensile strength in comparison to non-reinforced concrete. It helps increase the durability and impact strength of concrete.
Concrete Reinforcing Fiber Market
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