Concrete Fiber Market is Forecast to Reach US$ 1.8 Billion in 2027, Says Stratview Research

The concrete fiber market is likely to rise at a CAGR of 5.0% during 2022-2027, to reach US$ 1.8 billion in 2027, states Stratview Research.

DETROIT, June 5, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global concrete fiber market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Concrete Fiber Market

The global concrete fiber market is segmented based on fiber type, end-user type, application type, and region.

Based on the fiber type- The market is segmented into steel fiber, synthetic fiber, glass fiber, and others. The synthetic fiber market is further bifurcated into macrofiber 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.

Based on the end-user type- 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.

Based on the application type- 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.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Europe is expected to remain the largest market for Concrete Fiber during the forecast period. This growth is majorly attributed to the following –

• Increase in the growth of construction activities,
• Increasing demand for concrete reinforcement products,
• Increased focus on developing low-carbon concrete solutions.

Likewise, North America and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, driven by an increase in construction activities.

Concrete Fiber Market Drivers

Some of the key reasons that are propelling the growth of the market include-

• 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.

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Top 7 Companies in Concrete Fiber Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• Bekaert
• Arcelor Mittal
• Sika AG
• Master Builders Solutions
• Owens Corning
• Chryso Group
• Euclid Chemical

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Concrete Floor Coatings Market
• European Concrete Fiber Market

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SOURCE Stratview Research