Concrete Reinforcing Fiber Market Size, Share & Trends Report

Concrete Reinforcing Fiber Market Size, Share & Trends Analysis Report By Product (PE, PP, Steel, Basalt), Application (Infrastructure, Residential & Commercial, Industrial), And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-757-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 181

Industry Insights

The global concrete reinforcing fiber market size was estimated at USD 2.05 billion in 2017 and is expected to register a CAGR of 5.8% from 2018 to 2025. Increasing public investment in infrastructure construction coupled with growing demand for off-site construction is expected to drive the market at a steady pace. Rising population coupled with rapid urbanization and industrialization driven by the increase 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 the market.

Residential and commercial construction industry in U.S. has witnessed a significant growth since 2016 due to the increasing remodeling and renovation activities. Increased construction of single homes is likely to emerge as one of the primary factors fueling the demand for fiber reinforced concrete, thereby driving the market growth.

U.S. concrete reinforcing fiber market

Off-site construction has registered high demand due to superior strength and cost efficiency as compared to traditional on-site construction. Moreover, it offers benefits, such as shorter build times, controlled build environment, and low labor cost. Rise in off-site construction activities is expected to result in increasing use of fiber in concrete, which is anticipated to further drive the market.

Polypropylene (PP) and Polyethylene (PE) are the key raw materials used for manufacturing the product meant for various construction applications. These raw materials are derived from crude oil; therefore, fluctuations in crude oil prices are likely to affect raw material prices, thereby impacting the overall cost of fiber reinforced concrete and hampering industry growth.

The development of advanced polyethylene reinforcing fiber that provide superior benefits compared to the steel and polypropylene products is one of the emerging trends observed in the market. Increasing investment in R&D for the production of advanced high strength fiber is expected to benefit the market expansion over the forecast period.

Product Insights

Polyethylene (PE) accounted for 8.6% market share in terms of revenue in 2017 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 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, use of the product in earthquake-prone areas to aid in reducing human casualties is anticipated to drive adoption of the product in the forthcoming years.

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 fiber are used for repairing of existing pavements to reduce thickness, smoothen riding surface, and to improve impact resistance which accounts for the high volume usage of the product.

Basalt fibers are environment-friendly which leads to their high adoption in developed economies. In addition, the application of basalt based product in concrete results in up to 40% reduction in delamination of concrete. However, the current lack of fundamental research and testing associated with this product has resulted in lower product penetration in the concrete reinforcing fiber market.

Application Insights

The products are used in majority of 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 growth avenues across various construction activities over the forecast period.

Global concrete reinforcing fiber market

The residential and commercial buildings segment is expected to expand at a CAGR of 6.2% in terms of volume from 2018 to 2025, owing to properties such as crack management and permeability reduction in various structures. High demand in foundations, grade slabs, floorings, basements, and walls among others is expected to further drive the segment growth over the forecast period.

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, use of synthetic and steel based products in industrial buildings to make the buildings resistant to harsh mechanical impacts is expected to drive the growth.

Regional Insights

High inflow of private investments in the construction industry in 2017 coupled with increasing number of construction projects is expected to exhibit a positive outlook for the market in North America. The regional industrial sector is anticipated to witness significant expansion over the next seven years owing to the rising GDP, leading to market growth.

The demand is expected to be driven by growing use of concrete in underwater structures for infrastructural development in economies such as Turkey. In addition, rising development of marine structures, such as bridges and tunnels in developed economies is expected to propel the market.

The government of China implemented the National New-type Urbanization Plan 2014-2020 to manage excessive urbanization. This plan aims to provide sustainable solutions for qualitative growth in urban areas through the development of smart and green buildings, which, in turn, is expected to drive the market for PP based product.

Middle East and Africa is expected to witness sluggish expand at a CAGR of 3.0% in terms of revenue on account of the prolonged slump in oil prices which has restricted growth of construction sector over the last few years. Financial pressure due to shrinking investment from public and private clients has negatively hampered the industry.

Concrete Reinforcing Fiber Market Share Insights

The market 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 manufacturing facilities present at multiple locations with the distribution being carried out at several sales locations across the operations area.

Price differentiation forms an integral part of the business strategy adopted by many companies operating in the market. In addition, price of concrete varies in accordance with the price of raw materials used for manufacturing reinforcing fiber. The product cost is heavily influenced by the quantity purchased by the consumers.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Volume in kilotons, Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, France, Germany, U.K., Italy, France, China, India, Japan, Brazil, Saudi Arabia

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global concrete reinforcing fiber market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Polyethylene

    • Polypropylene

    • Steel

    • Basalt

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Infrastructure

    • Residential & Commercial

    • Industrial

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Italy

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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