Concrete Fiber Market to Perceive Substantial Growth During 2024

The concrete fiber market is expected to progress steadily in the coming years. The increasing trend of urbanization and improvement in construction practices are majorly boosting the adoption of concrete fiber. Fiber reinforced concrete involves the use of fibrous material for increasing the structural integrity of the concrete. Fibers include short discrete fibers such as glass fibers, natural fibers, steel fibers, and synthetic fibers that have uniform distribution but random orientation in the mix.

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Fibers are mainly used in concrete for controlling cracks due to shrinkage of plastic and evaporation of water in the hardening stage of concrete. Concrete fiber exhibit attributes of high stability, massive physical durability, and high heat resistance that are not found in concrete that is not fiber reinforced.

The global concrete fiber market is broadly segmented on the basis of product, end use, material, and region. In terms of product, fibrillated concrete fibers and monofilament concrete fibers are the segments of this market. On the basis of material, the market is segmented into: Synthetic fibers, glass fibers, natural fibers, basalt fibers, steel fibers, and others. By end-use, the market is segmented into industrial, mining, road industry, construction, and others.

The report provides an in-depth analysis of current market trends, growth drivers, and restraints of the global concrete fiber market. It sheds light on product developments and technological breakthroughs that will influence the growth of this market during the forecast period. A dedicated section discusses the vendor landscape of this market, wherein the key players are profiled for their business strategies, financial standing, partnerships, and products and services portfolio. In addition, the report covers the macro and micro factors that govern the growth of the concrete fiber market, with insights and recommendations received from industry experts.

The booming construction industry and rising urbanization are the major factors driving the global concrete fiber market. The application of concrete fibers across varied industries such as mining and road construction is also aiding the growth of this market. The increasing demand for basalt fiber, which is produced from melting basalt rocks at 1400º C, is also bolstering the concrete fiber market.

However, high costs involved in the manufacture of concrete fiber is limiting its use. The use of new technology for reducing the cost of the product is also not a viable option. Moreover, the innovation of ready mix concrete that is suitable for several applications such as industrial, mining, and road construction are hampering the market’s growth.

Geography-wise, the global concrete fiber market is divided into North America, Asia Pacific, Europe, and Rest of the World. Traditionally, North America and Europe are early adopters of technology hence will account for dominant positions in the market. However, Asia Pacific is expected to display faster growth as the region is home to some of the fastest developing economies in the world. In 2014, Asia Pacific accounted for more than 40 percent revenue of the global concrete fiber market. The availability of skilled workforce in countries such as India, China, and Japan is fuelling the growth of the concrete fiber market in this region.

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Some of the companies vying for a larger share of the global concrete market are The Euclid Chemical Company, Nycon Corporation, Cemex, Bekaert SA, Propex Global, Fibercon International Inc., ABC Polymer Industries, W.R. Grace & Co., SIKA AG, and BASF SE among others.