Concrete Fiber Market to gain traction from commercial and industrial sectors

9:43 AM, 9th February 2021
Concrete fibers have proved their ability to improve durability of construction material used for commercial as well as residential projects

Concrete fibers have proved their ability to improve durability of construction material used for commercial as well as residential projects. Each type of concrete fiber plays a vital role in augmenting the strength of construction frameworks, say, like minimizing the cracks to reinforcing the structure. On that note, some of the important end-use trends that are expected to drive concrete fiber market size over 2019-2025 are stated below.

The commercial and industrial sectors are projected to hold a market share of more than 35 percent 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.

Concrete fibers, also known as reinforced concrete or fiber-reinforced concrete, are gaining enormous traction throughout the world. This can be majorly attributed to the growing need for and shifting consumer preference towards high-quality infrastructure. Different types of fibers for reinforced concrete are steel fibers, nylon fibers, natural fibers, and polyester fibers, among others. It is estimated that global concrete fiber market size will be worth USD $2.8 billion by 2025.

Based on products, the synthetic & steel fibers had the maximum share in the total market size back in 2018. Synthetic fibers segment is expected to reach a share of about 65 percent of the overall industry size over the forecast timeframe. These microfibers are likely to witness benefits of more than 8.5 percent over the coming timeframe, followed closely by steel fibers. Numerous technological advancement across the overall steel fibers product segment has further led to development of fibers that are rust resistant and have the potential to be utilized as primary reinforcement. In fact, these are already substituting standard steel mesh/rebar in the construction sector, which is leading to market growth.

With respect to application, slab on grade application segment is anticipated to represent nearly 25 percent of the industry share over the projected time period. The segment also comprises industrial flooring operations, where heavy machines are adopted across a plethora of heavy manufacturing industries like foundry, fabrication, aircrafts, textiles, and automobile among others. Concrete fibers prevents floors from developing cracks due to the placement of heavy machinery. The precast application is expected to grow with a rate of over 9 percent over the forecast time period.

In terms of end-uses, the industrial & commercial infrastructure segment is likely account for a share of more than 35 percent over the forecast time period. It primarily includes, industrial & commercial structures like malls, manufacturing facilities, parking areas, offices, airports, and hotels among others. Concrete fibers provide high flexibility as well as tensile strength to these structures, meanwhile decreasing the post crack costs by lowering the tendency of cracks in concrete matrix. This subsequently leads to improved life for these structures, making it much more cost-effective in the long term.

The growing population across the Asia-Pacific will create the necessity for new housing development projects, which will propel the residential end-use segment of the concrete fiber market. The developing economies like India and China will account for a majority of the market share owing to the increasing population along with the socio-economic development. The rise in per capita income of the middle-income group attributed toward the industrial development in the region will also stimulate concrete fiber market growth.

BASF, Sika Corporation, Bekaert SA, Euclid Chemical, ABC Polymer Industries, Owens Corning, CEMEX SAB de CV, Arcelormittal, GCP Applied Technologies Inc, Forta Corporation, Nycon: Concrete Enhancement, Fibercon International Inc, SRW Concrete, Hunan Sunshine Steel Fiber Co Ltd, TECHNOBASALT-INVEST LLC are top key players in the market.

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