Stratview Research has published a new report titled “Concrete Fiber Market” which is segmented by Fiber Type (Steel Fiber, Synthetic Fiber [Microfiber and Macrofiber], Glass Fiber, and Others), by End-User Type (Transport Infrastructure, Building & Construction, Mining & Tunnel, Industrial Flooring, and Others), by Application Type (Precast Concrete, Sprayed Concrete, Slab, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the concrete fiber market was estimated at US$ 1.31 billion in 2021 and is expected to exhibit a healthy CAGR of 5.0% over the forecast period, reaching a valuation of US$ 1.8 billion by 2027.
What is concrete fiber?
Fibers in concrete help in several ways such as controlling and regulating plastic shrinkage and cracking, increasing energy absorption, and reducing dangerous spalling at high temperatures.
They enhance tensile strength, freeze-thaw resistance, and keep the concrete sturdy and visibly attractive over time. Hence, they are often used in applications like the construction of bridges, tunnels, and pavements.
Market Dynamics
The demand for concrete fiber is expected to be driven by several factors, such as-
- Low prices of concrete fiber in comparison to other core materials.
- Rising construction activities, especially in developing economies.
- Increasing urbanization and the need for infrastructure development in these regions are driving the demand for construction materials that offer better performance and longevity.
- The shift towards sustainable and eco-friendly construction practices also drives the demand for concrete fiber.
- The use of natural and recycled fibers in concrete not only provides better performance but also reduces the environmental impact of construction activities.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis–
The market is segmented into transport infrastructure, building & construction, mining & tunnel, industrial flooring, and others. Mining & tunnel is expected to remain the dominant segment in the market during the forecast period. Steel is the dominantly used fiber type in mining & tunnel applications.
Key applications for concrete fibers in mining & tunnel are tunnel lining and shafts, slope stabilization, and underground mines. Building & Construction is estimated to remain the growth propeller of the market in the coming five years. It includes all the residential and non-residential buildings and structures.
The market is segmented into steel fiber, synthetic fiber, glass fiber, and others. The synthetic fiber market is further bifurcated into macro fiber and microfiber. Steel fiber is expected to remain the dominant fiber type in the market during the forecast period, owing to its high durability, e-modulus, and tensile strength.
Steel fiber-reinforced concrete offers higher ductility and post-cracking strength, fatigue resistance, spalling, and wear & tear compared to conventional reinforced concrete. In addition, it is used for heavy-duty applications including ground slabs and precast elements for tunnels and bridges. However, Synthetic fiber is gaining faster acceptance. It controls and mitigates plastic shrinkage cracking, reduces segregation and bleeds water, increases surface durability, and reduces the risk of delaminating.
The market is classified as precast concrete, sprayed concrete, slab, and others. The slab is expected to remain the most preferred application for concrete fibers in the foreseen future. It is also anticipated that the demand for concrete fibers in this application is likely to witness the highest growth for the same period. Fiber-reinforced slabs are used in all the major end-use industries such as transport infrastructure, building & construction, mining & tunnel, and industrial flooring.
Precast concrete is likely to remain the second-largest application type of concrete fiber during the forecast period. The key advantages of precast concrete are high durability, versatility, ease of construction, and affordability. Also, it is aesthetically pleasing, reduces the overall construction time, and enhances safety at the construction site.
Europe is expected to remain the largest market for concrete fibers during the forecast period. Germany and France remain the largest markets for concrete fibers in the region, due to an expected increase in the growth of construction activities, increasing demand for concrete reinforcement products, and increased focus on developing low-carbon concrete solutions. North America and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, driven by an increase in construction activities.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Concrete Fiber Market:
- Bekaert
- Arcelor Mittal
- Sika AG
- Master Builders Solutions
- Owens Corning
- Chryso Group
- Euclid Chemical
Recent Market Mergers and Acquisitions:
- In 2021, The acquisition of Chryso Group by Saint Gobain strengthens its position in the construction chemicals market. Chryso Group joins the sustainable construction businesses within the high-performance solutions segment.
- In November 2021, Sika AG signed a definitive agreement to acquire MBCC Group (formerly BASF Construction Chemicals) from an affiliate Lone Star Funds, for a consideration of US$ 6 Billion.
- In December 2021, Saint-Gobain signed a definitive agreement with GCP Applied Technologies Inc. to acquire a transaction valued at approximately $2.3 billion (approximately €2.0 billion). The acquisition of Chryso Group followed by GCP Applied Technologies clearly directs the Saint Gobain strategies to strong fold its presence in the construction chemical business.
Key questions answered by the report.
- What is the projected CAGR for revenue from the Concrete Fiber Market during the forecast period?
- What would be the market be valued at by 2027?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Concrete Fiber Market?
- Which are the major market players?
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