The concrete reinforcing fiber market thrives due to robust residential construction and growing transportation projects.

ROCKVILLE, MD, UNITED STATES, October 23, 2023 /EINPresswire.com/ -- North America holds a significant 33.5% stake in the worldwide concrete reinforcing fiber market. This dominance is attributed to the region's burgeoning construction projects and the expansion of marine infrastructure, including tunnels and bridges.

The global concrete reinforcing fiber market share is projected to experience a substantial compound annual growth rate (CAGR) of 7.8% from 2022 to 2032. As of the close of 2021, the market's size stood at $2.85 billion, with expectations for it to reach $6.41 billion by the conclusion of 2032.

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The utilization of concrete reinforcing fibers in the development of transport infrastructure is anticipated to witness a notable growth with a Compound Annual Growth Rate (CAGR) of 9.7%. This upswing can be attributed to the surge in construction activities related to roads, flyovers, highways, airports, and railroads on a global scale. Notably, this growth is particularly pronounced in the Asia-Pacific (APAC) and North American regions.

Boosted by Urbanization and Innovative Construction Techniques, the Global Concrete Reinforcing Fiber Market is Poised for Significant Growth

According to data provided by Fact.MR, a renowned market research and competitive intelligence firm, the global concrete reinforcing fiber market demonstrated an impressive Compound Annual Growth Rate (CAGR) of approximately 6.2% during the period spanning from 2017 to 2021.

Concrete reinforcing fiber is a fibrous material employed to enhance the mechanical strength of concrete. These fibers play a pivotal role in mitigating cracks that can occur due to plastic shrinkage and moisture loss during the concrete hardening phase. Unlike non-fiber reinforced concrete, concrete reinforcing fibers possess valuable attributes such as stability, structural endurance, and resistance to temperature fluctuations.

The burgeoning trends of urbanization and advancements in construction technologies have led to an escalating demand for concrete reinforcing fiber. Furthermore, macroeconomic factors, particularly the growing emphasis on infrastructure development, especially in emerging economies, are driving the consumption of fiber-reinforced concrete.

Carbon fibers, in particular, have significantly expedited construction timelines, making them increasingly popular. The substantial investments in construction and infrastructure development have resulted in a notable upsurge in demand for asphalt concrete, with polyethylene (PE) fiber-reinforced concrete emerging as a promising contender in this domain.

As we look ahead, the global concrete reinforcing fiber market is anticipated to continue its remarkable growth trajectory, with a projected CAGR of 7.8% from 2022 to 2032.

Key Companies Profiled

- Nycon Corporation
- Owens Corning
- FORTA Corporation
- The Euclid Chemical Company
- BASF SE
- Bekaert
- CEMEX

Growing Embrace of Sustainable Practices Driven by Environmental Compliance

The demand for concrete reinforcing fibers is experiencing a significant upswing thanks to the increasing stringency of environmental regulations. The ongoing evolution of these regulations has compelled various industries to reconfigure their production methods, favoring fiber-based reinforcements and sustainable solutions. Concrete reinforcing fiber stands out as a prime choice, given its eco-friendly attributes and exceptional strength and durability.

The forthcoming sales of concrete reinforcing fibers are poised to be steered by the rising concern for the environment. Manufacturers of fiber-reinforced concrete are keenly attuned to the burgeoning opportunities within the fiber-reinforced concrete (FRC) market, and they are actively expanding their production capabilities to cater to the anticipated future demand.

Fluctuating Raw Material Costs and Availability of Substitutes

Concrete reinforcing fibers used in a variety of construction applications primarily rely on polypropylene and polyester as raw materials. The increasing cost of polypropylene fiber-reinforced concrete can be attributed to the volatile nature of crude oil prices.

The variability in raw material prices and the presence of alternative materials are significant factors that partially restrict the demand for reinforced concrete.

Insights by Country

Surging Interest in Steel Fiber Across Various Applications

From 2022 to 2032, the U.S. concrete reinforcing fiber market is anticipated to experience a robust compound annual growth rate (CAGR) of 7.8%. The demand for concrete reinforcing fiber in the United States is expected to witness consistent growth, driven by positive developments in the housing sector.

The health of the U.S. housing market is intrinsically tied to the overall economic well-being, and favorable indicators such as high employment rates and reduced taxes are expected to yield beneficial outcomes. These elements are likely to invigorate the housing market in the United States, thereby generating momentum within the construction equipment sector.

The presence of leading manufacturers and the substantial demand for steel fiber across a wide array of applications, including construction, tunnels, bridges, and dams, are the principal factors propelling market expansion in the United States.

Insights by Category

The Rising Utilization of Steel Fiber in Concrete Attributable to its Cost Efficiency

In terms of categorization, concrete reinforcing fibers can be classified into various types, including synthetic fiber, steel fiber, glass fiber, natural fiber, and basalt fiber. Among these, synthetic fiber holds a significant share of 27.2% in the global concrete reinforcing fiber market, primarily due to its cost-effectiveness and ease of use compared to other options.

Synthetic fibers exhibit remarkable stability, resisting expansion or contraction in response to temperature fluctuations. This property is instrumental in preventing concrete from cracking. These fibers, being human-made, can withstand the alkaline conditions of concrete over extended periods. They are commonly produced from polymer-based materials like nylon, polyester, polyethylene, and polypropylene, offering a diverse range of synthetic fiber options.

Extensive Usage of Concrete Reinforcing Fibers in Advancing Transport Infrastructure

Concrete reinforcing fibers find application across various industries, including transport, construction, mining, tunneling, industrial flooring, and other sectors. Notably, the transport industry holds a substantial 29.4% share of the concrete reinforcing fiber market.

The transport sector favors concrete reinforcing fibers due to their ability to provide concrete with remarkable durability, impact resistance, and mechanical strength. With growing investments in transportation infrastructure projects, the demand for concrete reinforcing fibers in the transport industry is on the rise.

This market is poised for growth, driven by an upsurge in government initiatives and policies aimed at supporting global transportation infrastructure development.

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Impact of COVID-19 on Sales of Concrete Reinforcing Fiber

The COVID-19 pandemic had adverse effects on the concrete reinforcing fiber market, primarily due to its strong dependence on the construction sector, which experienced delays in project completion as a result of the pandemic. The market also suffered from decreased purchasing power among suppliers during this challenging period. Additionally, the market faced disruptions in its supply chain, shutdowns, and the cancellation of planned projects.

Nonetheless, manufacturers of concrete reinforcing fiber have taken proactive measures by forming collaborations with alternative suppliers to ensure the stability of their supply chains. To ensure business continuity, they have established mutually beneficial partnerships with distributors and other ecosystem partners. These growth strategies are anticipated to contribute to the recovery of the concrete fiber industry in the coming years.

Market Overview

The current competitive landscape in the concrete reinforcing fiber industry is dominated by several key providers who are actively dedicated to innovating cost-effective alternatives in reinforced fiber products.

As an example:

- In 2020, GCP Applied Technologies Inc. introduced Version 2.0 of the mobile app solution for STRUX 90/40 macro synthetic fibers, designed for diverse concrete applications.

Check out more related studies published by Fact.MR Research:

Carbon Fiber Market: The global carbon fiber market was valued at US$ 4.49 billion in 2021 and is projected to reach US$ 11.44 billion by 2032, registering a CAGR of 9.1% from 2022 to 2032.

Autoclaved Aerated Concrete Market: The global autoclaved aerated concrete (AAC) market is anticipated to be valued at US$ 11.8 billion in 2023 and it is anticipated to grow at a CAGR of 5.1% to reach US$ 19.9 billion by the end of 2033.

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