Concrete Fiber Market Analysis

Global Concrete Fiber Market Overview

Concrete Fiber Market Size was valued at USD 2.3 Billion in 2023. The Concrete Fiber industry is projected to grow from USD 2.5 Billion in 2024 to USD 4.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2024 - 2032). The market is also expected to grow at a CAGR of 8.3% during the forecast period. These concrete fibers are much more preferred as it shapes the structural integrity. From the market analysis, you know about the insights of the financial statements of all the competitors playing in the market. It highlights the geography by enlightening the product/service in the particular region. By using Porter’s five forces analysis gives a good analysis of the market perspectives. By data triangular procedure parent market size has been estimated. The concrete industry has a very strong potential to cope up with interior and exterior parts of construction and building during the forecast period of 2024-2032.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

COVID 19 ANALYSIS

The widespread of COVID had a great impact on the market dynamics, market segment, the value supply chain, and even on public health. The concrete fiber market revenue conditions were hampered and the industry was economically destroyed. The lowering of demand for concrete fibers led to overcapacity. The industry has slowed down its construction but retained its strengthening and sustainability of the market. Due to lockdown rules, this industry was affected thus leading to a production halt. Building and Construction is the largest end-user industry for the production of glass fibers, thus the glass industry was affected. Globally, the production of vehicles has been a hamper that hampered the low-profit margins.

The government has taken steps for wearing masks and using sanitizers. The government took strict actions against those who violated the law.

MARKET DYNAMICS

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  Drivers-increase in demand of non-corrosive materials, urbanization, growth in population, rise in demand of products from end-users industry act as the driving factor for concrete fiber market size. Using the ready-to-mix concrete fiber steers up[ the demand of the market. The market steers to the high as it controls and prevents the plastic from shrinking and cracking and regulated the drying shrinkage cracking.

  
  


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  Opportunities- reducing the costs of the products by adopting a new production process increases growth opportunities. Rise in concrete fiber market revenue by taking initiatives from the government and the funding for setting the industry and expanding the business drives the market. Setting up the entry barriers for the entry of new competitors drives up the market.

  
  


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  Challenges- revenue generation in the market is an overall challenging factor for the whole industry. The features of the market including amalgamation, fragmentation, and accumulation provide huge insights and are a challenging factor for the market. Ongoing architectural work in the very densely populated Asian regions has increased the demand of the business construction sector, therefore, increasing the consumption of concrete fibers.

  
  


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  Cumulative Growth- concrete fibers can be used for various purposes as they are lightweight for which they are used for the production of various products for mining, tunneling, while construction of building and for maintaining the infrastructure of transportation. Mining is a productive sector that holds dynamic prospects in the upcoming future. Substantial growth is expected to take place by expanding the economic conditions and transporting structure. The rise in demand for an anti-cracking feature in developing areas in the forecast period helps in rising the cooling fiber market value. The application of concrete fiber is growing the market strength and the durability of each product in the industry. The addition of concrete helps to prevent the crack from spreading throughout. This crack control tendency results in reducing the construction repair.

  
  


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  Restraints- rise in operational expenses of the concrete fiber industry harms the market growth and market demand. Lack of technical knowledge is a hampering factor for the concrete fiber industry. The brittle nature of the concrete component results in developing cracks is excess load is applied to it. This will harm its demand.

  
  

MARKET SEGMENTATION

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  By type- based on the type, the concrete fiber market is divided into synthetic concrete fiber, steel-concrete fiber, glass, and natural concrete fiber, basalt concrete fiber and many more have covered a large market share. Based on the end-use industry, the concrete fiber industry is highly segmented into transport infrastructure, building construction, industrial flooring, Mining, and tunnel occupies the major CAGR during 2021-2030. Transport infrastructure covers the major market share which increases the demand for the market in the transport industry for the construction of roads, bridges, railways, ports, and airports.

  
  


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  By technology- advancement in technology, helped in resisting fatigue and shock, increase in durability and ductility, with excellent ductility and tensile strength with increase in toughness. The growth in technology led to an increase in demand for fiber reinforced concrete by using the applications and using industrialized modern practices that cost less than other alternate core materials. Advanced technology, low weight fibers are used for the production of various useful parts or components. This rising technology has helped the concrete fiber industry with multiple opportunities and has helped in economic shifts. Technology provides an efficient strategy for the company to work better and provides a credible source to lead the business.

  
  

REGIONAL ANALYSIS

North America covers the major concrete fiber market share in the whole world. The rising demand for concrete fibers, innovation of new fibers of good quality, and development of application are the factors responsible for marking North America as the most demandable region. Due to the increasing use of fibers and expanding the business, United States is regarded to be the largest consumer country in North American regions. Asia Pacific regions are expected to be the dominant country like other countries of China, India, Japan, and the South Korean region. This region has become popular due to the presence of global and Rand D centers. China is expected to be the leading region all over the Asia Pacific region. It covers a share of 55.5 %. The Middle East, African, and Latin American regions hold opportunities for expansion of the market.

COMPETITIVE LANDSCAPE

Some of the major key players that play a great role in driving the market are BASF SE of Germany, Nyon, The Euclid Chemical Company, Owens Corning of United States, Sika AG of Switzerland, Bosfa, Propex Operating Company LLC of United States, ABC Polymer Industries LLC of United States, Helix Steel Dow, and GCP Applied Technologies Inc and many more emphasis on the tools to carry out several strategies to increase the market growth.

Recent Development

February 2022: Şişecam, the Turkish glass developer has acquired Refel, the Italian firm that is one of the most reputed developers of refractory materials in the world. These materials are largely utilized in constructing glass melting furnaces. With this acquisition, Şişecam intends to alleviate any risk associated with disruptions to the supply chain, which in turn will ensure smooth refractory supply processes all the while realizing more funding in the glass field. Şişecam is an affluent player in segments covering every basic area of glass including glass fiber, flat glass, glass packaging, glassware, chromium and soda compounds, in industries like mining, automotive, recycling and energy.

February 2022: Skanska along with Tarmac is looking for ways to deal with climate change using advanced low-carbon concrete. TARMAC is supplying a low-carbon basalt-fiber-reinforced concrete to try on a temporary haul road used by construction vehicles, which will be part of the National Highways’ M42 Junction 6 improvement plan. This trial will be led by Skanska partnering with the National Composites Centre, with funding by National Highways.

In March 2024: Sika Group, a leading manufacturer of concrete fibers, unveiled a new eco-friendly product line crafted from recycled materials. These innovative fibers are engineered to enhance the durability and sustainability of construction projects, reflecting the industry's increasing emphasis on environmentally-friendly building solutions.

REPORT OVERVIEW

From the report section, you can mark the fundamentals of the market dynamics which constitute driving ing factors, challenging factors encompassing the market, opportunities, and the restraints that affect the market growth. It summarises the evaluation of the market data and gives full-fledged research about the concrete fiber market. The report gives qualitative and quantitative information about the market. It summarises the market segmentation which is classified as per the new concrete fibers market trends.  It gives insights into the SWOT analysis.