The concrete fibers market is expected to reach a market valuation of US$ 2 billion in 2023, with a 2022 estimate of USD 1.91 billion. By the end of the forecast period, it is projected to have a market value of US$ 4.39 billion and a CAGR of 9.75%.
The industry is anticipated to increase as a result of rising public investment in infrastructure building and an increasing emphasis on using environmentally friendly building materials. The business for concrete reinforcing fibre is anticipated to experience growth due to the increased need for off-site construction. The worldwide construction sector is anticipated to experience growth as a result of the expanding population, fast urbanisation, and industrialization in emerging economies. According to projections, this will increase demand for reinforced concrete in a variety of construction applications, which will fuel growth.
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An rise in commercial construction activity is anticipated to fuel the market as a result of the economy’s improved state. The need for more office and storage space has been driven by the expansion of industries like food and consumer goods, which has had a large positive impact on the construction sector and the demand for paving slabs as long-lasting and attractive flooring. With the majority of the actors involved in the production and manufacture of the raw materials used in the production of paving slabs, product makers have a highly integrated supply chain. The majority of market participants also benefit from having a sizable direct distribution network, which facilitates a smooth product flow and enables them to expand their product portfolios with numerous customisation possibilities, which is an important consideration in purchasing decisions.
Buyer switching costs have decreased as a result of the emergence of several businesses offering higher quality goods at comparable rates with minimal product differentiation, increasing the buying power of consumers. At the same time, the threat of alternatives has been significantly reduced by the product’s expanding popularity as a result of its unique combination of strength, maintenance, and beauty.
Key Takeaways-
- The north American concrete fiber market is anticipated to reach over USD 1 billion by 2033
- Asia pacific is expected to be the fastest and highest-grossing market to create demand for concrete fibers. The market in this region is expected to be valued at USD 1.8 billion by the end of the forecast period.
- By product type, the steel-concrete fiber market will dominate the segment by amassing over USD 950 million by 2033.
- The glass fibers segment recorded a valuation of around USD 100 million in 2022 and is poised to depict more than 7.5% CAGR from 2023 to 2033.
- The concrete fibers market from the pavement application amassed over USD 265 million in 2023 and is anticipated to grow at 9% CAGR between 2023 and 2033.
“The market’s expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.” comments a Future Market Insights analyst
Competitive Landscape-
Some of the major company profiles included in the global Concrete fibers market report are-
MBCC Group, Sika AG, The Euclid Chemical Company, Bekaert Corporation, ABC Polymer Industries, Owens Corning, CEMEX S.A.B. de C.V., ArcelorMittal, GCP Applied Technologies, Inc, FORTA Corporation, Nycon Corporation, Fibercon International, Inc., SRW Products, Inc, Technobasalt-Invest LLC.
- December 2021: Sika AG is going to extend its operations in both Canada and the United States by forming a partnership with CiDRA Concrete Systems Inc. Thanks to this enterprise, constructors will be able to access up-to-date information regarding various building materials.
- In 2020, The STRUX 90/40 macro synthetic fibers mobile app solution, which can be utilized in a number of concrete applications, had its version 2.0 launched by GCP Applied Technologies Inc.
- In August 2021, the MBCC group agreed to purchase Fabpro Polymers, a leading creator and manufacturer of synthetic fibers for reinforced concrete and other uses in North America.
- In August 2019, Masters builders solutions launched a new Masterfiber website. Masterfiber portfolio is a lightweight and durable concrete reinforcement portfolio for sustainable construction.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global concrete fibers market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product type [steel fiber, synthetic fiber (Polypropylene, Nylon, Polyester, Other synthetic fibers), glass fiber, natural fibers, basalt fibers )] By Application ( Pavement, shotcrete, precast, Slabs on grade, Composite metal decks, Other Applications) By End-user ( Residential, Industrial & Commercial Infrastructure, Roads& bridges, Others) and regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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