PUBLISHER: Allied Market Research | PRODUCT CODE: 1239436
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239436
The concrete fiber market valued for $2.2 billion in 2021 and is estimated to reach $4.8 billion by 2031, exhibiting a CAGR of 8.2% from 2022 to 2031. Fiber reinforced concrete or concrete fiber is a composite material made up of steel fiber, synthetic fibers, glass fibers, and natural fibers. This type of concrete enhances the shear capacity of reinforced concrete beams and improves fatigue strength.
Concrete fiber is used in mining and tunnel applications for improving concrete strength and durability, shock & fatigue resistance, and other characteristics. It is used in tunnel linings and subways to redistribute the forces within the concrete structure. The increasing demand for minerals and mining metals has surged the mining activities where concrete fiber is widely used to resist crack formation in concrete structures. In addition, traffic congestion has led the government of both developed and developing economies to build tunnels and subways where concrete fiber is used to redistribute loads in tunnel linings. This may act as one of the key drivers responsible for the growth of the concrete fiber market. Furthermore, concrete fiber is widely used to reduce the crack formation in concrete materials. Moreover, rapid industrialization has surged the set-up of industries in both developed and developing economies where concrete fiber is used for enhancing tensile strength of industrial structures. In addition, governments of different countries are consistently focusing on infrastructure development where concrete fiber is used to redistribute the load, enhance tensile strength, and prevent cracks. These factors together are anticipated to increase the sales of concrete fiber among the building and construction sectors; thus, fueling the market growth.
However, high costs of fiber-reinforced concrete as compared to non-reinforced concrete or plain concrete may restrain the growth of the concrete fiber market. On the contrary, the development of synthetic fiber-reinforced concrete to achieve high level of performance in various end use sectors may create lucrative opportunities for the concrete fiber market.
The concrete fiber market is segmented on the basis of fiber type, application, and region. On the basis of fiber type, the market is categorized into steel fiber, synthetic fiber, glass fiber, natural fiber, and others. The applications covered in the study include infrastructure, building & construction, mining & tunnel, industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global concrete fiber market profiles leading players that include: Sika AG, Cemex S.A.B. de C.V., OZINGA BROS., INC., Heidelberg Cement, TUF-BAR, BarChip Pty Ltd, BASF SE, Bekaert, Kamenny Vek, Nycon, EUCLID CHEMICAL COMPANY, FORTA CONCRETE FIBER, ABC POLYMER INDUSTRIES, ARCELORMITTAL, GCP Applied Technologies Inc., Owens Corning, RPM International Inc. The global concrete fiber market report provides an in-depth competitive analysis as well as profiles of these major players.