Portland, OR, Nov. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global concrete fiber market was accounted for $1.9 billion in 2020, and is projected to garner $4.1 billion by 2030, registering a CAGR of 8.4% from 2021 to 2030.
Rise in use of concrete fiber in building & construction and mining & tunnel applications and surge in demand for reinforced concrete in the industrial applications have boosted the growth of the global concrete fiber market. However, unproper distribution of reinforced concrete and concrete wastage hinder the market growth. On the contrary, increase in synthetic fiber reinforcement concrete is expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak and followed lockdown negatively affected the market due to its dependence on the construction sector. The rise in the number of Covid-19 infections forced the government to impose strict restrictions regarding social interactions. This caused delays in construction projects.
- The prolonged lockdown in Asian and European countries negatively impacted the supply chain and prices of raw materials.
The report segments the global concrete fiber market on the basis of fiber type, application, and region.
Based on fiber type, the steel fibers segment held the largest share in 2020, contributing to nearly half of the market. However, the synthetic fibers segment is estimated to register the highest CAGR of 8.6% from 2021 to 2030.
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On the basis of application, the infrastructure segment dominated the market in 2020, accounting for nearly two-fifths of the market. However, the mining & tunnel segment is projected to register the highest CAGR of 9.1% during the forecast period.
The global concrete fiber market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for nearly two-fifths of the market. Moreover, the region is anticipated to register the highest CAGR of 9.4% during the forecast period.
The global concrete fiber market includes an in-depth analysis of the prime market players such as Sika AG, CEMEX, Eucid Chemical Company, FORTA Concrete Fiber, Ozinga Bros. Inc., ABC Polymer Industries, Heidelberg Cement, BarChip Inc., TUF-Bar, and Uniseal Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
