In 2024, the market for concrete fiber is projected to be worth USD 2,177 million. From 2024 to 2034, the market is expected to grow at a compound annual growth rate (CAGR) of 9.7%. The market value is anticipated to reach USD 5,518 million by 2034.
The top driving force of the industry is the growth of the construction sector. The construction industry is expanding rapidly, particularly in emerging economies like China, India, and Brazil. The increasing demand for residential and commercial buildings, roads, bridges, and other infrastructure projects is fueling the demand for concrete fiber. The use of concrete fiber in construction is becoming increasingly popular due to its numerous benefits.
With the growing awareness of environmental issues, there is a rising demand for eco-friendly construction materials. Concrete fiber is considered sustainable and eco-friendly as it reduces the amount of cement and other materials needed in construction. The use of concrete fiber also reduces the carbon footprint of construction projects, making it an attractive option for builders and architects.
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The implementation of infrastructure projects, such as bridges, highways, airports, and ports, is increasing worldwide. These projects require durable and strong construction materials, and concrete fiber is an ideal option due to its high tensile strength and durability. The use of concrete fiber in infrastructure projects also helps reduce maintenance costs and extends the life of the structures.
“The benefits of concrete fiber, such as increased strength, durability, and reduced cracking, are becoming more widely recognized in the construction industry. As a result, more builders and architects are incorporating concrete fiber into their projects. The growing awareness of the benefits of concrete fiber is driving the demand for this material in the construction industry.” Says an analyst at FMI.
Key Takeaways from the Concrete Fiber Market
- The concrete fiber market is estimated to register a CAGR of 9.70%, with its valuation reaching US$ 5,518 million by 2034.
- The synthetic fiber segment is anticipated to dominate the market, holding a market share of 36.2% in 2024.
- The market in the United States is estimated to rise at a CAGR of 5.5% during the forecast period.
- The market in Germany is estimated to progress at a CAGR of 4.6% through 2034.
- The United Kingdom’s market is predicted to advance at a 3.8% CAGR between 2024 and 2034.
Competitive Landscape
The concrete fiber market is fiercely competitive, with numerous players striving to increase their market share. To keep up with the latest developments, key players are introducing product lines that can compete with the newest materials. Additionally, stakeholders are making significant investments in branding and forming partnerships with construction companies, resulting in increased sales and profit margins.
Recent Development
In 2021, through a partnership with CiDRA Concrete Systems Inc., KA AG expanded its operations in Canada and the USA. This collaboration will enable constructors to access the latest information on a myriad of building materials. With this new venture, IKA AG and CiDRA Concrete Systems Inc. will collaborate to deliver top-notch products and services to customers across North America.
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Concrete Fiber Industry: Key Players
- BASF SE
- Sika AG
- Owens Corning
- GCP Applied Technologies Inc.
- The Euclid Chemical Company
- CEMEX S.A.B. de C.V.
- Fibercon International Inc.
- Bekaert SA
- ABC Polymer Industries LLC
- Nycon Corporation
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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