Concrete fiber market is expected to grow with 9% CAGR from 2019 to 2025.
Global Market Insights has studied the state and tendencies in the concrete fiber market since 2014. They used the accumulated data to make a forecast for a period up to 2025.
As of 2018, the concrete fiber market size was valued at $1.5 billion.
By end-user sector, the industrial and commercial infrastructure was one of the key market drivers at that time.
The same end user segment is expected to demonstrate a considerable growth in a period from 2019 to 2025 resulting in the rise of concrete fiber market with 9% CAGR in the forecast period.
Global composite rebar market size is projected to grow with nearly the same CAGR in this period.
The fibers applied as concrete reinforcement increase tensile strength and ductility of overall concrete structures providing shrinkage control. These aspects, in its turn, increase the building & infrastructure life reducing post-construction repairment cost.
Commercial infrastructure requires highly durable materials. Fibre reinforce concrete is a highly durable material so it attracts developers though a conventional steel reinforced concrete is cheaper.
Growing number of hotels, offices, airports, bridges, industrial floorings for manufacturing will be the prime driver for the concrete fibers market demand.
Fiber types used to reinforce concrete
- Steel fibers
- Synthetic fibers
- Glass fibers
- Natural fibers
- Basalt fibers
Synthetic fabrics with steel fibers are popularly used for concrete reinforcement. However, steel reinforced structures suffer from corrosion, forcing consumers to increasingly use corrosion-resistant fibers.
Main fiber manufacturers: BASF, Sika Corporation, Bekaert SA, Euclid Chemical, ABC Polymer Industries, Owens Corning, Cemex S.A.B. de C.V., Arcelormittal, GCP Applied Technologies, Inc, Forta Corporation, Nycon: Concrete Enhancement, Fibercon International Inc., SRW Concrete, Hunan Sunshine Steel Fiber Co. Ltd, Technobasalt-Invest LLC.
Key report findings:
- In 2018, synthetic fibers accounted for a share of more than 50% in the global concrete fiber market. In the future, synthetic fibers will account for over 65% revenue share in the global market.
- The industrial & commercial infrastructure segment accounted for over 35% of concrete fiber market share in 2018.
- Growing population and corresponding demand for commercial and related infrastructures especially in Asia Pacific and Europe will be the major factor governing the concrete fiber market growth over the forecast period.
- Growing urbanization and demand for infrastructure will further complement the industry growth.
Based on the research data, Research and Markets forecasts basalt fiber reinforced concrete sector will grow with 7.4% CAGR from 2018 to 2025.