North American Concrete Reinforcing Fiber Market 2022-2028

North American Concrete Reinforcing Fiber Market 2022-2028

North American concrete reinforcing fiber market is estimated to grow at a CAGR of 4.7% during the forecast period. The growing residential and commercial construction is one of the major factors in driving market growth. As per the US Census Bureau, in October 2021, privately-owned housing starts were at a seasonally adjusted annual rate of 1,530,000, which is 4.9% above the revised September estimate of 1,459,000 and is 14.2% above the October 2021 rate of 1,340,000. In October 2021, single-family housing starts were at a rate of 1,179,000, which is 6.4% above the revised September rate of 1,108,000. This, in turn, is accelerating the demand for concrete reinforcing fiber to maintain structural integrity.

Fiber-reinforced concrete can be utilized in several residential applications such as pool construction with shotcrete, driveways, sidewalks, drainage, basements, foundations, colored concrete, and more. It is appropriate for concrete applications that need protection from plastic and drying shrinkage, increased service life, reduced construction costs, improved durability. The fibers application in concrete can decrease the consumption of energy of a construction project and thereby supports green building practices.

North American concrete reinforcing fiber market is segmented based on type and application. Based on type, the market is classified into steel fiber, synthetic fiber, natural fiber, glass fiber, and others. Synthetic fibers include polypropylene, polyester, nylon, and polythene. These fibers are particularly engineered for concrete that is produced from man-made materials to resist in the long-term alkaline concrete environment. Synthetic fibers are extensively added to concrete to minimize plastic shrinkage cracking of structural and reinforced plain concrete and to decrease temperature cracking and shrinkage in structural plain concrete slabs on grade. Among synthetic fibers that are available in the US, polypropylene is regarded as the most extensively used synthetic fiber in ready mixed concrete. Polypropylene fibers are hydrophobic and therefore, they do not absorb water. Based on application, the market is classified into infrastructure, residential and commercial, and industrial.

Some prominent players in the market include Sika AG, BASF SE, Owens Corning, and GCP Applied Technologies Inc. The strategies adopted by the market players to increase their market share include product launches and mergers and acquisitions. For instance, in May 2021, GCP Applied Technologies Inc. announced the acquisition of UK based R.I.W. Ltd., a provider of waterproofing products. The company offers products for applications in residential and commercial construction. This will support R.I.W. to leverage GCP’s distribution channels to further increase its penetration of waterproofing projects in the UK.

Market Segmentation

1. North American Concrete Reinforcing Fiber Market Research and Analysis by Type

2. North American Concrete Reinforcing Fiber Market Research and Analysis by Application

The Report Covers

Comprehensive research methodology of the North American concrete reinforcing fiber market.

This report also includes a detailed and extensive market overview with key analyst insights.

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.

Analysis of regional regulations and other government policies impacting the North American concrete reinforcing fiber market.

Insights about market determinants that are stimulating the North American concrete reinforcing fiber market.

Detailed and extensive market segments with regional distribution of forecasted revenues.

Extensive profiles and recent developments of market players.