Concrete Reinforcing Fiber Market Size, Share & Trends Analysis Report By Product (PE, PP, Steel, Basalt), By Application (Infrastructure, Building & Construction, Industrial), And Segment Forecasts, 2022 - 2030

Report Overview

The global concrete reinforcing fiber market size was estimated at USD 2.19 billion in 2021 and is expected to register a CAGR of 6.8% from 2022 to 2030. Increasing public investment in infrastructure construction coupled with a growing focus on environmentally safe products in construction is expected to help the industry growth. The rising demand for off-site construction is also expected to drive the demand for the concrete reinforcing fiber industry. The rising population coupled with rapid urbanization and industrialization in emerging economies is driven by the increase in construction spending is likely to boost the global construction industry. This, in turn, is projected to drive the demand for reinforced concrete in various construction applications, thereby driving growth.

The market is expected to be driven by an increase in commercial construction activities to account for the improving economic health. The rise in the growth of commercial sectors like food and consumer goods has called for an increase in office and storage space, which has contributed significantly to the construction industry and the need for durable and aesthetic floorings in the form of paving slabs. Product manufacturers have a highly integrated supply chain with the majority of the players engaging in the production and manufacture of raw materials used in the production of paving slabs. Most of the players in the market also have an extensive direct distribution network which helps in a smooth flow of products and helps them to create a larger product portfolio with multiple customization options, which is a key factor in purchase decisions.

The presence of multiple players with higher quality products and competitive prices with very less product differentiation has led to lower switching costs for the buyer and hence increased the bargaining power of buyers. At the same time, the rising popularity of the product due to its combined properties of strength, maintenance, and beauty has kept the threat of substitutes to the minimum.

Product Insights

Polyethylene (PE) fiber reinforced concrete accounted for 8.43% of the market in terms of revenue in 2021 due to limitations in the production of such products with high-stress resistance. However, increasing R&D by manufacturers to improve product properties concerning stiffness and strength is expected to drive the product demand over the forecast period. Polypropylene (PP) reinforced product has exhibited a growing trend of the replacement of steel on account of attributes such as easy handling, lightweight, corrosion resistance, and rapid dispersion. In addition, the use of the product in earthquake-prone areas aids in the reduction of human casualties, leading to high adoption levels.

Rising demand for steel fiber reinforced concrete for manufacturing tunnel linings, pipes, and septic tanks is likely to propel demand over the projected period. In addition, these fibers are used for repairing existing pavements to reduce thickness, smoothen riding surface, and improve impact resistance which accounts for the high-volume usage of the product. Basalt fiber is non-hazardous and environment-friendly which leads to its high use in the developed economies. In addition, the application of the basalt-based products in concrete results in up to 40% reduction in delamination of concrete. However, the lack of fundamental research & testing associated with this fiber at present has resulted in lower product penetration in the market.

Application Insights

The products are used in the majority of the constructions including infrastructure, residential, and commercial. Initiatives taken by major manufacturers to produce lightweight macro-polymers with superior chemical stability are expected to open up new avenues for growth across various construction activities over the forecast period. The market for concrete reinforcing fiber in the building and construction segment is expected to grow at a CAGR of 5.7% in terms of volume from 2016 to 2030, owing to properties such as crack management and permeability reduction in various structures. High demand for the product in foundations, grade slabs, floorings, basements, walls, etc. is expected to drive growth.

Ascending demand for rigid floors and walls in industrial construction on account of heavy-duty operations is expected to boost the consumption of fiber reinforced concrete. Furthermore, the use of synthetic and steel-based products in industrial buildings to make the buildings resistant to harsh mechanical impacts is expected to drive market growth. The increasing population and urbanization in developed and developing economies has led to a rapid rise in the infrastructure works undertaken by governing bodies around the world. The need for energy conservation and sustainable use of resources has also increased the need for infrastructure activities. 

Regional Insights

A high inflow of private investments in the construction industry in 2021 coupled with the increasing number of construction activities is expected to exhibit a positive outlook for the concrete reinforcing fiber market in North America over the next seven years. The industrial sector in the region is anticipated to witness significant expansion owing to the rising GDP in North America leading to market growth. The demand for reinforced concrete in the region is expected to be driven by the growing use of concrete in underwater structures for infrastructural development in economies such as Turkey. In addition, the development of marine structures such as bridges and tunnels in developed economies is expected to drive industry growth.

The increasing population in the APAC region is expected to induce a rise in infrastructure activities to support the rising urbanization in the region. The increase in industrial activities in the region is expected to drive the market for the industrial infrastructure and rising jobs due to this is expected to boost the residential construction segment in the region. Middle East & Africa is expected to witness sluggish growth at a CAGR of 4.9% in terms of revenue on account of the prolonged slump in oil prices which has restricted the growth of the construction sector in the last few years. Financial pressure due to shrinking investment from public and private clients has negatively hampered the growth of the industry.

Key Companies & Market Share Insights

The market for concrete reinforcing fiber is characterized by the presence of established players with a strong financial base, due to the capital-intensive nature of the production process. The companies operate through the manufacturing facilities at multiple locations with the distribution being carried out at several sales locations across the area of operation.

Price differentiation forms an integral part of the business strategy for the companies operating in the market. In addition, the price of the concrete varies in accordance with the price of the raw materials used for manufacturing reinforcing fiber. The cost of the products manufactured in the market is heavily influenced by the quantity purchased by the consumers. Some prominent players in the global concrete reinforcing fiber market include:

• BASF SE

• Bekaert

• CEMEX S.A.B. de C.V.

• Sika AG

• ABC Polymer Industries, LLC

• Nycon Corporation

• Ultratech Concrete

• Owens Corning

• FORTA Corporation

• The Euclid Chemical Company

Concrete Reinforcing Fiber Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the industry trends in the sub-segments from 2022 to 2030. For this study, Grand View Research has segmented the Concrete reinforcing fiber market on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

  • Polyethylene

  • Polypropylene

  • Steel

  • Basalt

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

  • Infrastructure

  • Building & Construction

  • Industrial

• Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    •  Italy

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia