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Concrete Reinforcing Fiber Market

Concrete Reinforcing Fiber Market

Concrete Reinforcing Fiber Market By Type (Synthetic Fiber, Steel Fiber, Glass Fiber, Natural Fiber, Basalt Fiber), By End-use Industry (Transport Infrastructure, Building & Construction, Mining & Tunneling, Industrial Flooring) & Region - Global Forecast 2022 to 2032

Concrete Reinforcing Fiber Market
FACT2385MR

Concrete Reinforcing Fiber Market Outlook (2022-2032)

Worldwide consumption of concrete reinforcing fiber is predicted to rise at a noteworthy CAGR of 7.8% from 2022 to 2032. At the end of 2021, the global concrete reinforcing fiber market size was valued at US$ 2.85 billion and is anticipated to reach US$ 6.41 billion by the end of 2032.

Report Attributes

Details

Concrete Reinforcing Fiber Market Size (2022)

US$ 3 Billion

Projected Market Value (2032)

US$ 6.41 Billion

Global Market Growth Rate (2022-2032)

7.8% CAGR

APAC Market Share (2022)

29.7%

Key Companies Profiled

  • Nycon Corporation
  • Owens Corning
  • FORTA Corporation
  • The Euclid Chemical Company
  • BASF SE
  • Bekaert
  • CEMEX

Concrete reinforcing fiber usage in transport infrastructure development is projected to increase at a higher CAGR of 9.7%, owing to increased road, flyover, highway, airport, and railroad building activities across regions of the world, more so in the APAC and North American regions.

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Sales Analysis of Concrete Reinforcing Fiber from 2017-2021 Vs Market Outlook for 2022-2032

“Rising Urbanization and Enhanced Construction Methods to Boost Market Growth”

As per Fact.MR, a market research and competitive intelligence provider, from 2017 to 2021, the global concrete reinforcing fiber market experienced a CAGR of around 6.2%.

Concrete reinforcing fiber is a fibrous substance used to strengthen concrete's mechanical strength. Fibers are primarily utilized in concrete to minimize cracks caused by plastic shrinkage and moisture loss during the hardening stage. Concrete reinforcing fibers have properties including good stability, structural endurance, and temperature resistance that aren't seen in non-fiber reinforced concrete.

Demand for concrete reinforcing fiber is increasing as urbanization rises and construction technologies improve. Consumption of fiber reinforced concrete is being positively influenced by macroeconomic factors, including growing focus on infrastructure development, especially in developing countries.

Carbon fibers considerably reduce the amount of time spent on construction projects. Growing investments in construction and infrastructure development have led to a surge in demand for asphalt concrete, and polyethylene (PE) fiber reinforced concrete is likely to gain ground on account of this.

The global concrete reinforcing fiber market is slated to surge ahead at 7.8% CAGR from 2022 to 2032.

Concrete reinforcing fiber market forecast by Fact.MR

How is Concrete Reinforcing Fiber Market Growth Being Driven?

“Increasing Preference for Sustainable Solutions Due to Environmental Regulations”

Concrete reinforcing fiber demand is being positively influenced by stringency in environmental regulations. The evolution of environmental regulations has forced various end-use industries to alter their modes of production and include more fiber-based reinforcements and sustainable solutions, and concrete reinforcing fiber fits the bill due to its environment-friendly and high strength & durability properties.

Future sales of concrete reinforcing fibers are likely to be driven by environmental concerns. Fiber-reinforced concrete manufacturers are aware of the emerging opportunities in the fiber reinforced concrete (FRC) market and are increasing capacity expansion to meet future demand.

How are Concrete Reinforcing Fiber Sales Being Affected?

“Volatility in Raw Material Prices and Presence of Alternatives”

The raw materials utilized to make concrete reinforcing fiber for diverse building applications are polypropylene and polyester. The price of polypropylene fiber reinforced concrete is also rising due to the uncertainty in crude oil prices.

Price fluctuations of raw materials and availability of substitutes are major factors that are restraining demand for reinforced concrete to some extent.

Which Region Accounts for Most Demand for Concrete Reinforcing Fiber?

“Rise in Construction Projects Driving Market Revenue in North America”

North America accounts for 33.5% share of the global concrete reinforcing fiber market. Because of the increasing number of construction projects and the development of marine constructions such as tunnels and bridges, North America dominates the concrete reinforcing fiber industry.

The industrial sector is expected to rise significantly because of the expanding GDP in North America. Increased usage of autoclaved aerated concrete in industrial construction is predicted to drive demand for concrete reinforcing fiber in the region.

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Country-wise Insights

How Will the Concrete Reinforcing Fiber Market Perform in the U.S.?

“Growing Demand for Steel Fiber in Various Applications

The U.S. concrete reinforcing fiber market is projected to expand at a CAGR of 7.8% from 2022 to 2032. The demand for concrete reinforcing fiber in the U.S. is likely to increase steadily as the housing market witnesses an improvement.

The U.S. housing market is directly linked to the health of the economy, and key indicators, such as high employment and lower taxes create favorable solutions. These factors are likely to stimulate the U.S. housing market, which in turn, is likely to create momentum in the construction equipment landscape.

Presence of prominent manufacturers and strong demand for steel fiber in diverse applications such as construction, tunnels, bridges, and dams are the factors boosting the market growth in the U.S.

Why is China a Prominent Market for Concrete Reinforcing Fiber Suppliers?

“High Infrastructure Spending on Non-residential Projects”

The market in China is expected to rise at a CAGR of 8.8% over the forecast period. Growing population, increasing urbanization, and household growth in the country are among the key factors that are likely to fuel the demand for concrete reinforcing fiber in China.

Demand for plastic reinforcing fiber for concrete is likely to remain concentrated in residential building construction. The government investment in creating affordable housing for low-income families is also likely to provide the much-needed impetus to the concrete reinforcing fiber market in China during the assessment period.

Infrastructure spending on non-residential projects is also likely to provide an impetus to the growth of the concrete reinforcing fiber market in China. Spending on non-residential buildings will remain higher than residential spending, and this will create new opportunities for manufacturers.

Category-wise Insights

Which Concrete Reinforcing Fiber Type Brings in High Revenue?

“Growing Usage of Steel Fiber in Concrete Due to its Low Cost

Based on the type, concrete reinforcing fibers are segmented into synthetic fiber, steel fiber, glass fiber, natural fiber, and basalt fiber. Synthetic fiber accounts for 27.2% share of the global concrete reinforcing fiber market as it is cheaper and easier to use than other concrete reinforcing fiber.

Synthetic fibers do not expand or contract in response to heat or cold. This aids in the prevention of cracking. Synthetic fibers are man-made materials that can endure the alkaline condition of concrete for lengthy periods of time. Polymer-based polymers such as nylon, polyester, polyethylene, and polypropylene are used to make a variety of synthetic fibers.

Which End-use Industry is Likely to Account for the Most Demand for Concrete Reinforcing Fiber?

“Concrete Reinforcing Fiber Widely Utilized in Transport Infrastructure Development

In terms of end-use industry, concrete reinforcing fibers are used in transport, building & construction, mining & tunnel, industrial flooring, and other end-use industries. The transport industry accounts for 29.4% share of the concrete reinforcing fiber market.

Concrete reinforcing fiber is popular in the transport industry because it offers the concrete exceptional durability, impact resistance, and mechanical strength. Rising investments in transportation infrastructure projects increase demand for concrete reinforcing fiber in the transportation industry.

The market is likely to be fueled by an increase in government programs and policies to assist transportation infrastructure development around the world.

COVID-19 Impact on Concrete Reinforcing Fiber Sales

The COVID-19 pandemic harmed the concrete fiber market because it relied on the construction sector, which saw construction project deadlines extended as a result of the pandemic. During the COVID-19 scenario, the market was negatively influenced by suppliers' reduced purchasing power. The market was disturbed by supply chain interruptions, shutdowns, and the cancellation of planned tasks.

However, concrete reinforcing fiber manufacturers are collaborating with alternative suppliers to ensure stable supply chains. To secure firm continuity, they are creating a balanced collaboration with distributors and ecosystem partners. These growth trends are expected to support the revival of the concrete fiber industry over the coming years.

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Competitive Landscape

Several concrete reinforcing fiber providers are currently leading the market and they are continuing to focus on developing competitively priced reinforced fiber alternatives.

For instance :

  • In 2020, GCP Applied Technologies Inc. released Version 2.0 of the STRUX 90/40 macro synthetic fibers mobile app solution, which can be used in a variety of concrete applications.

Key Segments Covered in Concrete Reinforcing Fiber Industry Research

  • Concrete Reinforcing Fiber Market by Type :

    • Synthetic Fiber
    • Steel Fiber
    • Glass Fiber
    • Natural Fiber
    • Basalt Fiber
  • Concrete Reinforcing Fiber Market by End-use Industry :

    • Transport Infrastructure
    • Building & Construction
    • Mining & Tunneling
    • Industrial Flooring
    • Other End-use Industries
  • Concrete Reinforcing Fiber Market by Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global concrete reinforcing fiber market is estimated at US$ 3 billion in 2022.
Flourishing residential construction sector and increasing transport infrastructure projects are driving market growth.
Transport infrastructure accounts for 29.4% share of the global concrete reinforcing fiber market.
The U.S., Germany, Mexico, China, and Japan account for the highest demand for concrete reinforcing fiber.
Nycon Corporation, Owens Corning, FORTA Corporation, The Euclid Chemical Company, and BASF SE are key manufacturers of concrete reinforcing fiber.
The global market for concrete reinforcing fiber is predicted to increase at a high CAGR of 7.8% over the forecast period of 2022 to 2032.

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