Global Synthetic Concrete Fibers Market 2023-2030

Global Synthetic Concrete Fibers Market 2023-2030

Global Synthetic Concrete Fibers Market Size, Share & Trends Analysis Report by Type (Nylon Fibers, Polyethylene Fibers, Polypropylene Fibers, High Modulus Fiber, Steel Fibers, and Glass Fibers), and by Application (Industrial Flooring, Bridge & Road, Residential & Commercial Building, Tunnel Construction, Mining, and Others) Forecast Period (2023-2030)

The global synthetic concrete fibers market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period. The market growth is attributed to factors such as the increasing demand for durable and high-performance construction materials, infrastructure development projects, and the demand for enhanced crack resistance and impact strength in concrete structures. Further, the rising focus on sustainable construction practices and the advantages offered by synthetic concrete fibers in terms of reducing construction time and cost are also expected to fuel the demand for synthetic concrete fibers. Additionally, in the construction industry, synthetic concrete fibers are widely used to enhance the mechanical properties of concrete and improve its resistance to cracking, thus leading to increased durability and longevity of structures. FORTA Concrete Fiber, a company that produces synthetic fibers for concrete reinforcement, has a list of completed projects on their website. These projects showcase the use of FORTA-FERRO macro synthetic fibers in various concrete applications, including parking lots, bridges, and airport runways. For instance, in October 2021, FORTA-FERRO macro synthetic fibers were used in the construction of a newly built sorting center in Plymouth, MIof the US. Which resulted in substantial cost savings and increased job-site safety due to the elimination of wire mesh or steel rebar.

Segmental Outlook

The global synthetic concrete fibers market is segmented based on its type and application. Based on type, the market is segmented into nylon fibers, polyethylene fibers, polypropylene fibers, high modulus fiber, steel fibers, and glass fibers. Based on application, the market is categorized into Industrial flooring, bridge & road, residential & commercial building, tunnel construction, mining, and others. Among application, residential and commercial building is anticipated to grow significantly owing to the rapidly growing construction industry across the globe.

Polypropylene Fibers Sub-Segment is Anticipated to Hold a Prominent Share of the Global Synthetic Concrete Fibers Market

Among the type segment, polypropylene fibers sub-segment is anticipated to hold a prominent market share. Polypropylene fibers are widely used in the construction industry due to their excellent crack resistance, impact strength, and durability properties. They are commonly employed in various applications, including industrial flooring, residential and commercial building construction, and bridge and road projects. For example,, FIberMix offers Polypropylene fiber that can be used to reinforce concrete. It is known for its resistance to shrinkage, which makes it a good choice for construction projects. Polypropylene fibers can be added to concrete to improve its strength and durability. They can also help reduce cracking due to shrinkage.

Regional Outlooks

The global synthetic concrete fibers market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these regions, Europe is anticipated to witness prominent growth over the forecast period. The region's construction industry is characterized by significant infrastructure development projects, stringent building codes and regulations, and a growing emphasis on sustainable and high-performance construction materials. However, the Asia-Pacific region is projected to experience a considerable growth in the synthetic concrete fibers market, driven by the rapid urbanization, industrialization, and infrastructure investments in emerging economies such as India and China.

Global Synthetic Concrete Fibers Market Growth by Region 2023-2030

Source: OMR Analysis

North America is Anticipated to Hold a Significant Share in the Global Synthetic Concrete Fibers Market

North America is anticipated to hold a significant share in the global synthetic concrete fibers market. The region has a well-established construction industry, with a focus on infrastructure development, urban renewal projects, and the adoption of advanced construction materials. Factors such as increasing uses of synthetic concrete fibers in public infrastructure, the demand for improved sustainability and durability of concrete structures, and stringent building regulations are driving the demand for synthetic concrete fibers in North America. For instance, in 2020, the Second Avenue Subway Tunnel project was completed with a final cost of $17 billion. It utilized synthetic fiber concrete and featured 16 new stations, stretching 8.5 miles beneath Manhattan's Second Avenue, making it the largest public works project in the nation.

Market Players Outlook

The major companies serving the global synthetic concrete fibers market include BASF SE, FORTA Corp., GCP Applied Technologies Inc., Owens Corning, and Sika AG, among others. These market players are considerably contributing to the market growth by adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2020, GCP Applied Technologies released an updated version of their concrete calculator that provides dosage rates for STRUX 90/40 macro synthetic fibers. The app assists customers to determine the right amount of fibers required for each project, resulting in saved time. Updates include faster results, more detailed analysis with fewer inputs, a new cost analysis tool, added transparency of the calculations, and the option to auto-generate submittal packages in PDF format.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global synthetic concrete fibers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.