Concrete Reinforcing Fiber Market Analysis Report By Product, Application And Segment Forecasts From 2019 To 2025

Industry Insights

The global concrete reinforcing fiber market size was worth USD 2.05 billion in the year 2017 and is predicted to grow at a CAGR of 5.8% over the forecast period 2018 to 2025. The significant rise in public investment in the development of infrastructure along with the rising demand for off-site construction is predicted to boost the market growth. Rapid industrialization and urbanization along with increasing population rate are also expected to drive the construction industry which will further surge the demand for reinforced concrete in different construction work.

The commercial and residential construction industry in the U.S. has grown significantly since 2016 owing to the various renovation and remodeling activities. The increased construction of residential buildings is expected to be the major factor propelling the demand for fiber-reinforced concrete from 2018 to 2025.

Off-site construction has observed a huge demand owing to the cost efficiency and superior strength against on-site construction. Furthermore, it provides advantages like controlled build surroundings, low labor cost, and shorter build times. The growth in the construction industry is predicted to increase the adoption of fiber in concrete, thus, driving the market.

The major raw materials include polyethylene (PE) and Polypropylene (PP), and they are extensively used in various construction activities. The raw materials are extracted from crude oil, thus, crude oil prices are directly proportional to raw material prices.

The emergence of higher quality polyethylene fiber that is more beneficial compared to polypropylene and steel products is among the developing trends in the market. The growth in the investment in product research and innovation relating to superior fiber is anticipated to provide new avenues for the concrete reinforcing fiber market shortly.

Product Insights

Polyethylene (PE) held a market share of 8.6% based on revenue in 2017 owing to the minimal production of these products with greater stress resistance. However, the rising R&D by companies to upgrade product properties relating to strength and stiffness is predicted to surge its demand in the upcoming years.

Polypropylene (PP) is expected to significantly grow over the forecast period. The surge in demand is anticipated due to its applications in earthquake-prone areas and other benefits such as lightweight, easy handling, dispersion, and corrosion resistance properties.

On the other hand, products like steel and basalt fibers are also gaining popularity in the market and are expected to emerge as profitable segments over the forecast period. Steel fibers have applications in tunnel linings, septic tanks, and pipes while environment-friendly basalt fibers are used in the delamination of the concrete. However, the limited focus on the R&D of these segments has led to its limited expansion in the market.

Application Insights

The commercial and residential building is predicted to grow at a CAGR of 6.2% based on volume over the forecast period. The expected growth is attributed to features like permeability reduction and cracks management in different structures. A surge in demand in grade slabs, foundations, basements, walls, and floorings is anticipated to have a favorable impact on the segment growth shortly.

The rising demand for walls and rigid floors in industrial sites due to heavy-duty operations is predicted to surge the demand for fiber-reinforced concrete. Moreover, strategies developed by manufacturers to create lightweight macro-polymers with higher chemical stability are expected to create new avenues for expansion for the market over the forecast period.

Regional Insights

The Middle East and Africa are predicted to register a CAGR of 3.0% based on revenue from 2019 to 2025 due to the oil prices collapse which has lowered the growth of the construction industry. Financial distress owing to the contracting investment from private and public clients has hampered the growth of the concrete reinforcing fiber market.

However, countries like China and Turkey are expected to be the emerging regions for market growth. The Chinese government has forged the National New-type Urbanization Plan 2014-2020 to control extreme urbanization. The objective of the plan is to have sustainable development in urban areas through the construction of green and smart buildings which are predicted to propel the demand for PP-based products. On the other hand, the demand for concrete fibers is expected to rise due to the increased usage of concrete in underwater structures in Turkey.

Concrete Reinforcing Fiber Market Share Insights

The market observes the presence of prominent players with an established financial base. The companies run through manufacturing units present at different locations with distribution carried out at various sales locations.

Price differentiation is one of the major strategies adopted by manufacturers to operate in the market. Additionally, the cost of concrete is differentiated from the price of raw materials used in producing reinforcing fiber.

Report Scope

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 this study, Million Insights has segmented the global concrete reinforcing fiber market report based on product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Polyethylene
    • Polypropylene
    • Steel
    • Basalt
    • Others

• Application Outlook (Revenue, Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Infrastructure
    • Residential & Commercial
    • Industrial

• Regional Outlook (Revenue, Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • Italy
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Saudi Arabia