Concrete Fibers Market is estimated at US$ 963.8 Mn in 2017 and expected to rise a 6.2% CAGR from 2018-2026
The global concrete fibers market was
valued at US$ 963.8 Mn in 2017 and is anticipated to expand at a CAGR of 6.2%
from 2018 to 2026, according to a new report titled ‘Concrete Fibers Market:
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2018–2026,’ published by Transparency Market Research (TMR) The global concrete
fibers market is driven by the rise in building and construction activities
across the globe.
Rising Demand for Concrete Fibers from
Building & Construction Industry to Drive Market
The global concrete fibers market is primarily driven by advancements in
the building & construction industry. The building & construction
segment is estimated to account for a large share of the market. The segment is
also anticipated to expand at a considerable growth rate during the forecast
period. Steel and glass concrete fibers are primarily used in building and
construction activities. Glass fibers are used for architectural cladding.
Steel fibers are used to build various transportation infrastructures such as
tunnels, bridges, and roads, as these provide higher strength as compared to
other fibers. The construction industry in the U.S. is estimated to expand at a
faster pace than that in China in the next 15 years. Construction is projected
to rise in the southern states in the U.S.
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Surge in Demand for Non-corrosive Materials to
Drive the Concrete Fibers Market
Reinforced concrete is extensively used in various construction
activities. Over two billion tons of reinforced concrete is produced annually
across the globe. It has many advantages including lower cost, easy
availability of raw materials, higher fire and weather resistance, and higher
compressive strength as compared to wood. However, concrete lacks tensile
strength and ductility. The global cost incurred due to corrosion of buildings
is estimated at US$2.5 Trn annually. The estimated cost incurred to repair
corroded infrastructure is US$ 300 Bn annually in the U.S. alone. Synthetic
fibers, glass fibers, and steel fibers are used to combat corrosion. Corrosion
is a prevalent issue across the globe, which can be overcome with the use of
fiber reinforced concrete. Fibers help reduce crack widths within a concrete
sample. These cracks cause deterioration of any concrete structure, as they
prevent corrosive materials from reaching the rebar. These fibers improve other
properties of the concrete such as its ability to induce strain hardening to
the areas where the post cracking tensile stress is higher than the tensile
strength.
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High Production and Operating Cost to Restrain the
Market
Ductility of plain concrete is enhanced by adding fibers. These fibers
improve the tensile and flexural strength and allow its use in structural
elements with no passive or active reinforcement. Production of synthetic-based
concrete fibers require advanced technology; therefore, its production cost is
higher than that of traditional materials. Additionally, advanced technology is
required to enhance the durability and to make concrete fibers lightweight,
which is not met easily with the use of other materials such as conventional
concrete. Concrete fibers can reduce construction time, labor, and material
costs, and significantly decrease ongoing maintenance costs. High costs
associated with concrete fibers are likely to limit its widespread use. This,
in turn, is projected to hamper the market.
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Steel Fibers Segment to Dominate Global Concrete
Fibers Market
Based on product, the concrete fibers market has been divided into
synthetic fibers, glass fibers, blended fibers, steel fibers, basalt fibers,
animal origin fibers, and cellulose fibers. Steel is likely to be a highly
attractive segment of the concrete fibers market during the forecast period. It
constituted a major share of the market in terms of value and volume in 2017,
as steel fibers help improve resistance to fracture, disintegration, and
fatigue.
Transportation Infrastructure Segment Dominates
Concrete Fibers Market
In terms of application, the concrete fibers market has been segmented
into building & construction, transportation infrastructure, mining, industrial
flooring, and others. Transportation infrastructure is anticipated to be a
highly attractive segment during the forecast period. However, the segment is
anticipated to expand at a sluggish pace during the forecast period.
North America Dominates the Global Concrete Fibers
Market
Based on region, the concrete fibers market can be segregated into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is estimated to be a highly attractive region of the global
concrete fibers market during the forecast period. The region held a large
share of the global market in 2017. Major manufacturers of concrete fibers are
located in North America.
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The market in Asia Pacific is anticipated to expand at a rapid pace
during the forecast period. Consumption of concrete fibers is expected to be
high in the region during the forecast period. Increase in the number of
highway projects and rise in investments in the construction sector are major
factors that are anticipated fuel the concrete fibers market in Asia Pacific
during the forecast period.
High Degree of Competition among Market Players
High degree of competition exists among market players operating in the
concrete fibers market. The market is dominated by few big players and is moderately
consolidated. Key players operating in the concrete fibers market include Sika
Group, BASF SE, Bekaert, GCP Applied Technologies Inc., Owens Corning, ABC
Polymer Industries, LLC, Nycon Corporation, Fibercon International Inc., and
Synthetic Resources, Inc.
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