Concrete Fiber Market is set to register 9% CAGR through 2025; Global Market Insights Inc.

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Global Market Insights Inc., estimates that the concrete fiber market could record over USD 2.8 billion by 2025.

The concrete fiber market is expected to record commendable growth owing to umpteen expansion activities commenced in the construction sector. Concrete fiber is mainly used to control cracking caused by drying shrinkage and plastic shrinkage, as well as for providing added strength to infrastructure. Several advancements in the industry, such as the development of concrete microfibers, have enabled primary reinforcement which can replace steel mesh.

Although concrete fibers are expensive, they are anticipated to record high demand in the construction sector, credited to their outstanding features. Driven by its growing demand across emerging economies, concrete fiber manufacturers are increasing production capacity at major facilities. For example, in 2017, leading concrete fiber company, Sika Corporation announced that it has commissioned a new production line for high-performance concrete reinforcing fibers, made of a thermoplastic material, for meeting demand from clients in the Europe, Middle East and Africa.

Elaborating on few of the ongoing trends in the concrete fiber market:

1) Robust demand for synthetic and steel fibers

Synthetic and steel fibers held the highest share in the concrete fiber business in 2018. The synthetic microfibers segment is estimated to register over 8.5% and hold a market share of more than 65% over the coming years.

The steel fibers segment is also witnessing rising demand owing to technological advancements leading to the production of rust resistant fibers that have the potential to be used as primary reinforcement. These fibers are replacing the traditional steel rebar/mesh in the construction business, which is further expected to drive segment growth.

2) Increase in slab on grade application

The slab on grade application segment is expected to grow over 25% over the forecast period owing to increasing product demand in industrial flooring operations where heavy machineries are installed throughout manufacturing sectors including textiles, fabrication, automobile, foundry and aircrafts. Concrete fibers prevent floors from cracking which can be caused due to heavy machinery load.

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3) Rising use in industrial & commercial infrastructure

The commercial and industrial sectors are projected to hold a market share of more than 35% over the coming years owing to heavy application of concrete fiber in construction of malls, offices, airports, hotels, parking areas and manufacturing facilities. Concrete fibers lend high tensile strength and flexibility to these structures and decrease the post crack cost by reducing the propensity of cracks in the concrete matrix, making them economical in the longer term.

Some of the prominent players in the concrete fiber market include Sika Corporation, ABC polymer Bekaert SA, BASF, Euclid Chemical, Owens Corning, and ABC Polymer Industries, among others.

About Global Market Insights Inc.
Global Market Insights Inc. headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Name: Arun Hegde
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Organization: Global Market Insights Inc.
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/concrete-fiber-market

Release ID: 89039714

CONTACT ISSUER
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights Inc.
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