NEWARK, Del, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The global concrete fibers market is valued at USD 1.91 billion in 2022 and is expected to reach USD 2 billion in 2023. It is also expected to reach a market value of USD 4.39 billion by the end of the forecast period, with a CAGR of 9.75%.
Increasing public investment in infrastructure construction, combined with a growing emphasis on environmentally safe construction products, is expected to aid the industry's growth. The growing demand for off-site construction is expected to drive demand for the concrete reinforcing fiber industry as well. Rising population, rapid urbanization, and industrialization in emerging economies, fueled by increased construction spending, are expected to boost the global construction industry. This, in turn, is expected to drive demand for reinforced concrete in a variety of construction applications, resulting in growth.
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To account for improved economic health, the market is expected to be driven by an increase in commercial construction activities. The expansion of commercial sectors such as food and consumer goods has necessitated an increase in office and storage space, which has significantly aided the construction industry and the demand for durable and aesthetically pleasing flooring in the form of paving slabs. The majority of the players in the supply chain are involved in the production and manufacture of raw materials used in the production of paving slabs, resulting in a highly integrated supply chain for product manufacturers. Most market participants also have a large direct distribution network, which aids in the smooth flow of products and allows them to create a larger product portfolio with multiple customization options, which is an important factor in purchase decisions.
The presence of multiple players offering higher quality products at competitive prices with little product differentiation has resulted in lower switching costs for buyers, increasing their bargaining power. At the same time, the product's growing popularity due to its combination of strength, maintenance, and beauty has kept the threat of substitutes to a minimum.
Key Takeaways-
- The north American concrete fiber market is anticipated to reach over USD 1 billion by 2033
- Asia pacific is expected to be the fastest and highest-grossing market to create demand for concrete fibers. The market in this region is expected to be valued at USD 1.8 billion by the end of the forecast period.
- By product type, the steel-concrete fiber market will dominate the segment by amassing over USD 950 million by 2033.
- The glass fibers segment recorded a valuation of around USD 100 million in 2022 and is poised to depict more than 7.5% CAGR from 2023 to 2033.
- The concrete fibers market from the pavement application amassed over USD 265 million in 2023 and is anticipated to grow at 9% CAGR between 2023 and 2033.
“The market's expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.” comments a Future Market Insights analyst.
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Competitive Landscape-
Some of the major company profiles included in the global Concrete fibers market report are-
MBCC Group, Sika AG, The Euclid Chemical Company, Bekaert Corporation, ABC Polymer Industries, Owens Corning, CEMEX S.A.B. de C.V., ArcelorMittal, GCP Applied Technologies, Inc, FORTA Corporation, Nycon Corporation, Fibercon International, Inc., SRW Products, Inc, Technobasalt-Invest LLC.
- December 2021: Sika AG is going to extend its operations in both Canada and the United States by forming a partnership with CiDRA Concrete Systems Inc. Thanks to this enterprise, constructors will be able to access up-to-date information regarding various building materials.
- In 2020, The STRUX 90/40 macro synthetic fibers mobile app solution, which can be utilized in a number of concrete applications, had its version 2.0 launched by GCP Applied Technologies Inc.
- In August 2021, the MBCC group agreed to purchase Fabpro Polymers, a leading creator and manufacturer of synthetic fibers for reinforced concrete and other uses in North America.
- In August 2019, Masters builders solutions launched a new Masterfiber website. Masterfiber portfolio is a lightweight and durable concrete reinforcement portfolio for sustainable construction.
Key Segments Profiled in the Concrete Fibers Market Industry Survey
By Product type:
- Steel fiber
- Synthetic fiber (Polypropylene, Nylon, Polyester, Other synthetic fibers)
- Glass fiber
- Natural fibers
- Basalt fibers
By Application:
- Pavement
- Shotcrete
- Precast
- Slabs on grade
- Composite metal decks
- Other Applications
By End-use type:
- Residential
- Industrial & Commercial Infrastructure
- Roads & bridges
- Others
By Region:
- North America
- Europe
- Asia pacific
- Latin America
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background To be continued…!
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global digital transaction management market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Product type [steel fiber, synthetic fiber (Polypropylene, Nylon, Polyester, Other synthetic fibers), glass fiber, natural fibers, basalt fibers )] By Application ( Pavement, shotcrete, precast, Slabs on grade, Composite metal decks, Other Applications) By End-user ( Residential, Industrial & Commercial Infrastructure, Roads & bridges, Others) and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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