Basalt fiber reinforced concrete market to grow at 7.4% annually from 2018 to 2025

Basalt fiber reinforced concrete market to grow at 7.4% annually from 2018 to 2025

Basalt fiber reinforced concrete market size is anticipated to expand on account of properties of the product, such as high damping and radio transparency.  

A new report delivered by Research and Markets contains research data on the global concrete reinforcing fiber market size and forecast for the period from 2019 — 2025. The report covers analysis of sectors and trends by reinforcing fiber types (basalt, steel, polyethylene and polypropylene), application scope (infrastructure, residential and commercial, industrial construction).

According to the researchers, increasing demand for lightweight non-corrosive materials from construction industry is expected to drive market growth in the forthcoming years.

The global concrete reinforcing fiber market size is expected to reach $ 3.21 billion by 2025, expanding at a CAGR of 5.8% during the forecast period.

The advantages offered by the reinforcing fibers in concrete includes widening of joint spacing and reduction in slab thickness. In addition, they also reduce the spalling at joint edges and save the overall development and maintenance cost. These benefits are expected to augment the demand for the product from heavy load operating structures, such as runways, aircraft, and warehouses.

Rising utilization of high-performance concrete is anticipated to have a positive impact on the growth of the concrete reinforcing fiber market. Increasing substitution of steel fibers with plastic in a bid to decrease the overall structure weight is anticipated to boost the product sales in the forthcoming years.

Market players are actively involved in research and development for the production of fibers for reinforcement purposes. They lay high emphasis on manufacturing advanced reinforcing fiber products with varying sizes and properties. However, fluctuating raw material prices is supposed to be a significant concern for the manufacturers over the forecast period.

Further key findings from the report suggest:

  • Steel accounted for 41.3% market share in terms of volume in 2017 owing to the increasing demand in replacement of traditional steel reinforced concrete in crack prone structures, such as canals, dams, and water storage tanks;
  • Basalt fiber is expected to register a CAGR of 7.4% from 2018 to 2025, on account of properties of the product, such as high damping and radio transparency;
  • Consumption of the product in infrastructure construction is expected to witness a CAGR of 5.9% in terms of revenue, from 2018 to 2025 due to increasing government spending on urban planning and management;
  • Asia Pacific accounted for 33.8% of the global revenue in 2017 owing to heavy investments in railway, highway, and road infrastructure expansion and residential construction by governments;
  • Major players operating in the concrete reinforcing fiber market focus on integration to engage in the production of raw materials including synthetic materials and fibers obtain a competitive edge.

To look into the benefits of basalt fiber reinforced concrete, we suggest you refer to Experimental Investigations on Basalt Fibre-Reinforced Concrete.

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