January 09, 2020
According to the research report titled ‘Concrete Fiber Market Size By Product (Steel Fibers, Synthetic Fibers [Polypropylene, Nylon, Polyester], Glass Fibers, Natural Fibers, Basalt Fibers), By Application (Pavement, Shotcrete, Precast, Slabs On Grade, Composite Metal Decks), By End-user (Residential, Industrial & Commercial Infrastructure, Roads & Bridges), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Nigeria, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global concrete fiber market is expected to surpass USD 2.8 billion by the year 2025.
According to the report, rapid industrialization coupled with growing construction activities in residential sector in Asia-Pacific region are major factors driving the concrete fiber market growth. Concrete fibers are primarily used to minimize cracking of walls and floors which are caused by drying shrinkage and plastic shrinkage. Growing demand for commercial and industrial infrastructure in Asia-Pacific, mainly due to the movement of inhabitants from rural to industry centric metro, urban, and megacities, is stimulating the industry outlook.
Rising development of concrete microfibers in order to replace steel mesh as primary reinforcement material is aiding the expansion of the market. However, the report cites that high costs of concrete fibers as compared to RCC (conventionally used reinforced concrete) may hinder the market growth.
As per product type, the report cites that synthetic fibers segment is predicted to grow with a rate of 8.5% and hold 65% share in concrete fibers market during the forecast period. Meanwhile, technological advancements have led to development of rust resistant steel fibers which can be used as primary reinforcement material, thereby facilitating the business scenario.
Based on the application spectrum, slabs on grade segment is estimated to hold 25% share of concrete fiber market by the year 2025. This segment encompasses industrial flooring solutions. Concrete fibers help prevent the cracking of floors due to the load of heavy machineries. On the other hand, the report states that precast application segment of concrete fiber market will grow with a rate of 9% during the estimated timeframe.
In terms of end-user, the industrial & commercial infrastructure segment will hold 35% share of concrete fiber market by the year 2025. Concrete fibers offer high tensile strength and flexibility to industrial and commercial structures such as manufacturing facilities, hotels, airports, offices etc.
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Considering the geographical landscape, Asia-Pacific is estimated to hold 25% share of concrete fiber market in the forthcoming years. Rising adoption of automated processes, technological advancements in electric vehicles, and growing demand for infrastructural development are contributing towards the popularity of the product across the region.
The prominent companies operating in the concrete fiber market are Technobasalt-Invest LLC, Hunan Sunshine Steel Fiber Co. Ltd., SRW Concrete, Fibercon International Inc., Nycon: Concrete Enhancement, Forta Corp., GCP Applied Technologies Inc., Arcelormittal, Cemex S.A.B. de C.V., Owens Corning, ABC Polymer Industries, Euclid Chemical, Bekaert SA, Sika Corp., and BASF.
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