North America Concrete Cellulose Fiber Reinforcement Market Analysis

North America Concrete Cellulose Fiber Reinforcement Market Analysis

Residential sector will grow at a CAGR over 6.9% between 2020 to 2026. High standards of living and presence of large urban population are likely to drive the residential construction for nuclear families and multi-house livings. Significant residential construction activities in future will generate huge demand for concrete structures and cementitious composites. This, in turn, creates immense opportunities for natural fibers such as cellulose to be used as a reinforcement material.
 

Low cost of the product with carbon neutrality drives the North America concrete cellulose fiber reinforcement market demand in residential construction of concrete pavements, driveways, sidewalks, beams, foundations, drainage, pool construction with shotcrete, basements, colored concrete, etc. Due to outbreak of COVID-19, many businesses working on a limited capacity or have stopped residential constructions in the U.S. in the early 2020.
 

Canada is expected to cross USD 1.4 million by 2026. Infrastructure upgrades and advancements are often supported through Infrastructure Canada, a federal department headed by the Minister of Infrastructure and Communities. Moreover, the adoption of green building and sustainability has also become a common consideration driving the need for renewable and eco-friendly construction materials such as cellulose fibers.
 

Favorable government efforts to encourage infrastructure are provided with the creating of Canada Infrastructure bank and plans to invest around USD 139 billion through 2028 under its long-term infrastructure plan. Such trends are expected to positively influence the growth of North America concrete cellulose fiber reinforcement market within the forecast time span.