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Concrete Fiber Market Growth Analysis: Examining the Regional Share and Future Trends| MarketsandMarkets™

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Concrete Fiber Market Growth Analysis: Examining the Regional Share and Future Trends| MarketsandMarkets™

May 05
16:11 2023
Concrete Fiber Market Growth Analysis: Examining the Regional Share and Future Trends| MarketsandMarkets™
Browse 88 market data tables and 36 figures spread through 135 pages and in-depth TOC on “Concrete Fiber Market”
The concrete fiber market is expected to grow due to increasing construction activities and the demand for durable and strong concrete. Asia Pacific is expected to show the highest growth, while North America and Europe are expected to maintain steady growth.

The global concrete fiber market is projected to grow at a CAGR of 7.0% in terms of volume and 8.2% in terms of value, from 2016 to 2021. The concrete fiber market is growing due to the increasing demand for concrete fiber in various end-use industries such as building & construction and transport infrastructure. High operating cost is restricting the growth of the market. High entry barriers for new players are a major challenge for the concrete fiber market. 

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Steel fiber reinforced concrete is the fastest-growing concrete fiber type. It is widely used in various construction and civil engineering applications such as industrial floors, pavements, tunneling, and highways-overlays. Steel fiber reinforced concrete has excellent tensile & flexural strength, shock & fatigue resistance, ductility, and high durability which enables it to provide concrete with enhanced toughness and post-crack load carrying capacity. Steel concrete fiber is used to provide strength to the concrete. It is widely used in manufacturing foundations and rebars. The leading companies manufacturing steel concrete fiber include Bekaert SA (Belgium), BASF SE (Germany), and Sika AG (Switzerland). 

The mining & tunnel is the fastest-growing end-use industry segment of the global concrete fiber market. This is due to the increasing demand of concrete fibers in underground construction. Concrete fiber is used in tunnel lining and shafts, slope stabilization, and underground mines applications. Reinforcement is added to shotcrete to provide some pseudo-ductility as well as post-crack load bearing capacity, especially in high-deformation applications, such as those in the mining industry. 

Asia-Pacific is the fastest-growing market for concrete fiber, with countries such as China, India, Japan, South Korea, and others witnessing an increase in the demand for concrete fiber. Major global manufacturers are focusing on setting up distribution networks and R&D centers in this region. In Asia-Pacific, China has been the leading market having accounted for a share of 55.7% in 2015. There are many domestic players such are Reliance (India) and Ultratech Cement (India), which market and supply concrete fiber products globally. The growth in the Chinese market is driven by huge foreign investments in various concrete fiber end-use industries due to availability of low-cost labor and raw materials that are accessible at affordable prices.

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Some of the major players in the global concrete fiber market are, Bekaert SA (Belgium), Sika AG (Switzerland), Propex Operating Company LLC (U.S.), ABC Polymer Industries (U.S.) and Cemex (Mexico). 

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