United States, Rockville MD, June 03, 2022 (GLOBE NEWSWIRE) -- As per latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global concrete reinforcing fiber market currently valued at just over US$ 3 billion and is anticipated to rise at a CAGR of 7.8% from 2022 to 2032.
The global market for concrete reinforcing fiber is expected to develop with the rapid deployment of high-performance concrete. Increasing the replacement of steel fiber with plastic to reduce overall structure weight is expected to drive product sales over the coming years.
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Expansion of commercial sectors such as food and consumer products has necessitated more office and storage space, considerably contributing to the building industry and the demand for durable and attractive flooring in the form of paving slabs. Rising demand for reinforced concrete with an anti-cracking characteristic in commercial and industrial infrastructure, particularly in developing countries, would significantly drive concrete reinforcing fiber demand. Because of its high strength and durability, reinforced concrete is becoming more widely used than its traditional counterparts.
Concrete reinforcing fiber is also used in mining and tunnels to improve concrete strength and durability, as well as stress and fatigue resistance and other properties. Usage of synthetic and steel fibers in industrial buildings to make them resistant to heavy mechanical impacts is also projected to fuel market expansion over the forecast period.
Which Region Accounts for Most Demand for Concrete Reinforcing Fibre?
“Rise in Construction Projects Driving Market Revenue in North America”
North America accounts for 33.5% share of the global concrete reinforcing fiber market. Because of the increasing number of construction projects and the development of marine constructions such as tunnels and bridges, North America dominates the concrete reinforcing fiber industry.
The industrial sector is expected to rise significantly because of the expanding GDP in North America. Increased usage of autoclaved aerated concrete in industrial construction is predicted to drive demand for concrete reinforcing fiber in the region.
The U.S. housing market is directly linked to the health of the economy, and key indicators, such as high employment and lower taxes create favorable solutions. These factors are likely to stimulate the U.S. housing market, which in turn, is likely to create momentum in the construction equipment landscape.
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Key Segments Covered in the Glass Fiber Reinforcing Concrete Industry Survey
- Concrete Reinforcing Fiber Market by Type :
- Synthetic Fiber
- Steel Fiber
- Glass Fiber
- Natural Fiber
- Basalt Fiber
- Concrete Reinforcing Fiber Market by End-use Industry :
- Transport Infrastructure
- Building & Construction
- Mining & Tunneling
- Industrial Flooring
- Other End-use Industries
- Concrete Reinforcing Fiber Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Competitive Landscape
Several concrete reinforcing fiber providers are currently leading the market and they are continuing to focus on developing competitively priced reinforced fiber alternatives.
For instance:
- In 2020, GCP Applied Technologies Inc. released Version 2.0 of the STRUX 90/40 macro synthetic fibers mobile app solution, which can be used in a variety of concrete applications.
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Key players in the Basalt Fiber Reinforcing Concrete Market
- Nycon Corporation
- Owens Corning
- FORTA Corporation
- The Euclid Chemical Company
- BASF SE
- Bekaert
- CEMEX
Key Takeaways from Sales of Concrete Reinforcing Fiber Market Study
- Global concrete reinforcing fiber market to reach valuation of US$ 6.41 billion by 2032.
- Market in North America projected to increase at CAGR of 8% over forecast period.
- Market in Europe accounts for 25.8% share of global market.
- Demand for synthetic fiber expected to rise at CAGR of 9.3% from 2022 to 2032.
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