Global Concrete Reinforcing Fiber Market Size Study & Forecast, by Product (Polyethylene, Polypropylene, Steel, Basalt, Others), by Application (Infrastructure, Building & Construction, Industrial), and Regional Analysis, 2023-2030

Global Concrete Reinforcing Fiber Market Size Study & Forecast, by Product (Polyethylene, Polypropylene, Steel, Basalt, Others), by Application (Infrastructure, Building & Construction, Industrial), and Regional Analysis, 2023-2030

Global Concrete Reinforcing Fiber Market is valued at approximately USD 2.34 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.8% during the forecast period 2023-2030. Concrete reinforcing fibers are materials added to concrete mixes to enhance their structural properties. These fibers, made from materials such as steel, glass, synthetics, or natural sources, improve tensile strength and durability. Steel fibers enhance tensile strength, glass fibers resist corrosion, synthetic fibers control cracking, and natural fibers offer environmental benefits. The addition of these fibers results in concrete with increased strength, durability, and resistance to cracking, making it suitable for diverse construction applications. The Concrete Reinforcing Fiber Market is expanding because of factors such as the upsurge in demand for non-corrosive materials, increasing requirements for high-performance concrete, rising public investment in infrastructure construction and stringent regulatory emphasis on construction standards. The surge in population, rapid urbanization, and industrialization in emerging economies, fueled by increased construction spending, are significant contributors to the expanding global construction industry, which is accelerating market growth across the globe.

In addition, the rapid growth of the construction industry is acting as a catalyzing factor for the demand for concrete reinforcing fiber at a substantial rate. The global construction industry is anticipated to experience consistent revenue growth, in 2020, the Construction Market reached a size of USD 6.4 trillion, with an anticipated increase to USD 14.4 trillion by the year 2030. The overall growth of the construction industry, including residential, commercial, and industrial sectors, positively impacts the demand for concrete reinforcing fibers. Thus, these aforementioned factors are propelling the growth of the Concrete Reinforcing Fiber Market over the estimated period. Moreover, the growth of the Off-site construction industry, as well as the rising emphasis on sustainable and eco-friendly construction practices present various lucrative opportunities over the forecast years. However, the volatile prices of raw materials and the improper distribution of reinforced concrete and concrete wastage are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Concrete Reinforcing Fiber Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising number of construction activities, increasing utilization of concrete in underwater structures for infrastructure projects, and rapid increase in transportation sectors. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rise in infrastructure development, the growing trend of urbanization, and the increase in industrial activities are significantly propelling the market demand across the region.

Major market players included in this report are:
BASF SE
Bekaert
CEMEX S.A.B. de C.V.
Sika AG
ABC Polymer Industries, LLC
Nycon Corporation
Ultratech Cement Ltd.
Owens Corning
FORTA Corporation
The Euclid Chemical Company

Recent Developments in the Market:
 In September 2020, GCP Applied Technologies Inc. introduced Version 2.0 of its mobile app solution designed for STRUX 90/40 macro synthetic fibers, catering to various concrete applications.

Global Concrete Reinforcing Fiber Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
Polyethylene
Polypropylene
Steel
Basalt
Others

By Application:
Infrastructure
Building & Construction
Industrial

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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