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Concrete Reinforcing Fiber Market Size, 2019-2025 | Industry Report

Concrete Reinforcing Fiber Market Analysis Report By Product, Application And Segment Forecasts From 2019 To 2025

Report ID: MN17619633  |  Published: May 2020  |  No of Pages: 181
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global concrete reinforcing fiber market size was worth USD 2.05 billion in the year 2017 and is predicted to grow at a CAGR of 5.8% over the forecast period 2018 to 2025. The significant rise in public investment in the development of infrastructure along with the rising demand for off-site construction is predicted to boost market growth. Rapid industrialization and urbanization along with increasing population rate are also expected to drive the construction industry which will further surge the demand for reinforced concrete in different construction work.

Commercial and residential construction industry in the U.S. has grown significantly since 2016 owing to the various renovation and remodeling activities. The increased construction of residential buildings is expected to be the major factor propelling the demand for fiber reinforced concrete from 2018 to 2025.

U.S. concrete reinforcing fiber market

Off-site construction has observed a huge demand owing to the cost efficiency and superior strength against on-site construction. Furthermore, it provides advantages like a controlled build surroundings, low labor cost, and shorter build times. The growth in the construction industry is predicted to increase the adoption of fiber in concrete, thus, driving the market.

The major raw materials include polyethylene (PE) and Polypropylene (PP), and they are extensively used in various construction activities. The raw materials are extracted from crude oil, thus, crude oil prices are directly proportional to raw material prices.

The emergence of higher quality polyethylene fiber that is more beneficial compared to the polypropylene and steel products is among the developing trends in the market. The growth in the investment in product research and innovation relating to superior fiber is anticipated to provide new avenues for the concrete reinforcing fiber market in the near future.

Product Insights

Polyethylene (PE) held a market share of 8.6% based on revenue in 2017 owing to the minimal production of these products with greater stress resistance. However, the rising R&D by companies to upgrade product properties relating to strength and stiffness is predicted to surge its demand in the upcoming years.

Polypropylene (PP) is expected to significantly grow over the forecast period. The surge in demand is anticipated due to its applications in earthquake-prone areas and other benefits such as lightweight, easy handling, dispersion, and its corrosion resistance properties.

On the other hand, products like steel and basalt fibers are also gaining popularity in the market and expected to emerge as profitable segments over the forecast period. Steel fibers have applications in tunnel linings, septic tanks, and pipes while environment-friendly basalt fibers are used in the delamination of the concrete. However, the limited focus on R&D of these segments has led to its limited expansion in the market.

Application Insights

The commercial and residential building is predicted to grow at a CAGR of 6.2% based on volume over the forecast period. The expected growth is attributed to features like permeability reduction and cracks management in different structures. A surge in demand in grade slabs, foundations, basements, walls, and floorings is anticipated to have a favorable impact on the segment growth in the near future.

Global concrete reinforcing fiber market

The rising demand for walls and rigid floors in industrial sites due to heavy-duty operations is predicted to surge the demand for fiber reinforced concrete. Moreover, strategies developed by manufacturers to create lightweight macro-polymers with higher chemical stability are expected to create new avenues for expansion for the market over the forecast period.

Regional Insights

Middle East and Africa is predicted to register a CAGR of 3.0% based on revenue from 2019 to 2025 due to the oil prices collapse which has lowered the growth of the construction industry. Financial distress owing to the contracting investment from private and public clients has hampered the growth of the concrete reinforcing fiber market.

However, countries like China and Turkey are expected to be the emerging regions for market growth. The Chinese government has forged the National New-type Urbanization Plan 2014-2020 to control extreme urbanization. The objective of the plan is to have sustainable development in urban areas through the construction of green and smart buildings which are predicted to propel the demand for PP based products. On the other hand, the demand for concrete fibers is expected to rise due to the increased usage of concrete in underwater structures in Turkey.

Concrete Reinforcing Fiber Market Share Insights

The market observes the presence of prominent players with an established financial base. The companies run through manufacturing unites present at different locations with distribution carried out at various sales locations.

Price differentiation is one of the major strategies adopted by manufacturers to operate in the market. Additionally, the cost of concrete is differentiated with the price of raw materials used in producing reinforcing fiber.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Volume in kilotons, Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country Scope         

U.S., Canada, Mexico, France, Germany, U.K., Italy, France, China, India, Japan, Brazil, Saudi Arabia

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global concrete reinforcing fiber market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Polyethylene
    • Polypropylene
    • Steel
    • Basalt
    • Others

• Application Outlook (Revenue, Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Infrastructure
    • Residential & Commercial
    • Industrial

• Regional Outlook (Revenue, Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • Italy
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Saudi Arabia

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