Concrete Fibers Market size is predicted exceed USD 2.8 billion by 2025; according to a new research report by Global Market Insights Inc.
Growing demand of commercial infrastructure in Asia Pacific and Europe, such as hotels, offices, airports, industrial floorings for manufacturing and industrial, will be the prime driver for the concrete fibers market demand over the forecast period. Additionally, growing population and urbanization in Asia Pacific is growing at unprecedented rate will further complement industry growth. According to the United Nations, 17 of the world’s 28 megacities in 2014 (cities with a population of 10 million or more) were in Asia Pacific. The organization projects that by 2030, the region will be home to no less than 22 megacities. The growing megacities will need an upgraded public and private infrastructure to continue its economic growth. Therefore, concrete fibers are projected to play an important role in fulfilling demand for long lasting, sturdy infrastructure.
Concrete fibers are used as secondary reinforcement to control the plastic shrinkage and avoid the further propagation of cracks, by keeping structural integrity intact in concrete matrix. New concrete microfibers are also able to provide primary reinforcement. However, the higher product cost will be major hindrance of product demand. With adoption of advanced construction practices and awareness, the industry is expected to be overcome in near future.
Among the product segment, synthetic fibers will account for over 65% revenue share in the global market. Synthetic fabrics such as polypropylene and their blends with steel fibers are popularly used owing to their wide range of aspect ratio, materials, design and higher tensile & compressive strength rendered to the concrete.
Browse key industry insights spread across 218 pages with 305 market data tables & 25 figures & charts from the report, “Concrete Fibers Market Size By Product (Steel Fibers, Synthetic Fibers [Polypropylene, Nylon, Polyester], Glass Fibers, Natural Fibers, Basalt Fibers), By Application (Pavement, Shotcrete, Precast, Slabs On Grade, Composite Metal Decks), By End-user (Residential, Industrial & Commercial Infrastructure, Roads & Bridges), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Nigeria, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Applications of concrete fibers are extensive and slabs on grade occupied the largest share of around 30% in 2018. It largely includes industrial flowing slabs, prepared with in-situ method. They are added on spot to lower the crack propagation developed due to the heavy machinery loads. Precast application holds the second spot were the concrete fibers are increasing being used to make cast structurers used in fast infrastructure construction. This application segment is likely to exhibit highest growth trends on account of their ability of efficiently reduce construction time.
Industrial & commercial infrastructure is projected to hold the largest share of over 35% among the end user segment in 2025. Adoption of new construction practices coupled with increasing infrastructural need of economies such as China, Italy, and Australia will be the prime reason for the growing product demand.
Over last few years, product demand is observed to be highest from economies of Europe and Asia Pacific such as Italy, U.K, France, China, Australia, Japan etc. By 2025, Asia Pacific will account for over 40% in global concrete fibers market. Product demand in Australia is projected to grow from mining sector for shotcrete applications. With lower interest rates coupled with growing investment in Europe is likely to contribute significantly in growth over the forecast period.
Global concrete fibers business is largely fragmented with presence of large number of medium sized players. However, companies such as Sika Corporation, BASF, Bekaert SA, Euclid Chemical, Arcelormittal, GCP Applied Technologies, Inc., held majority share in 2018 in the market.