Concrete Fiber Market: Introduction
Concrete fiber incorporates fibrous material to increase the structural strength of concrete. With the increasing rate of construction in every sector, including roadways, highways, expressways, airports, parking areas, mining and tunnels, dams, water tanks, water ways, elevated decks, dock areas, recreation and many others, the concrete fiber market is expected to progress rapidly over the forecast period. Concrete fiber is used to control cracks in a structure due to dry and plastic shrinkage, where ordinary concrete doesn’t perform well. Concrete fiber holds significant opportunities in circumstances where ordinary concrete is unable to fulfill the desired requirement.
The concrete fiber market is expected to grow in transport infrastructure, including industrial flooring, mining & tunnels, highways, railways, bridges, airports, barriers for sound attenuation and others as concrete fiber provides high durability, chemical, mechanical and thermal resistance, and impact resistance. The concrete fiber market is expected to have strong potential in the field of interior and exterior parts of industrial, residential and commercial construction and building over the forecast period.
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Concrete Fiber Market: Drivers and Restraints
Growth in the concrete fiber market is expected to be observed worldwide, particularly in developing nations. Attributing to the increasing rate of urbanization and enhancement in transport infrastructure, the concrete fiber market holds dynamic prospects in the coming future. Mining is a productive sector, where the concrete fiber market can gain remarkable fiscal advantages over the forecast period. As urbanization is cumulative, demand for reinforced concrete fiber is driven by end-use industries, which consequently drives the concrete fiber market over the forecast period. Ongoing architectural activities in densely populated Asian countries have accelerated the building construction sector; thus resulting in an increase in the consumption of concrete fiber. This is expected to create good opportunities for the concrete fiber market over the forecast period.
Although the demand for concrete fiber is growing worldwide, relatively high operating cost and lack of technical knowledge may hinder growth of the concrete fiber market in near future. Moreover, inadequate investments in R&D facilities may affect product quality, which may restrain the sale of concrete fiber.
Concrete Fiber Market: Segmentation
The concrete fiber market can be segmented on the basis of fiber type as:
- Steel Fiber
- Glass Fiber
- Basalt Fiber
- Synthetic Fiber
Among these, steel fiber is a highly preferred option in the concrete fiber market for its relatively high strength and durability.
The concrete fiber market can be segmented on the basis of applications as:
- Road Construction
- Transport Infrastructure
- Mining and Tunnels
- Building Construction
Concrete Fiber Market: Region Wise Outlook
Based on geography, the concrete fiber market is expected to be prominent in North America and Europe. As both these nations are major receptors of technology, they are anticipated to emerge as dominant regions in the market. The use of steel and synthetic concrete fiber in North America is projected to attribute to commendable market gain in the concrete fiber market over the forecast period. Asia Pacific is projected to exhibit robust growth in the concrete fiber market owing to the presence of prompt developing economies in the region. Countries such as India, Japan and China are expected to boost progress of the concrete fiber market in this region due to rapid growth in their transport infrastructure sector. Since agriculture is a large occupation in India, the irrigation sector is expected to offer good prospects for the use of concrete fiber. Hence, substantial growth is expected from this region in the near future. Thus, Asia Pacific is expected to hold a significant market share of the global concrete fiber market. Expanding economies in regions, such as Middle East & Africa and Latin America are expected to hold strong opportunities for the concrete fiber market in the near future.
Concrete Fiber Market: Market Participants
Examples of some market participants in the concrete fiber market are listed below:
- BASF SE
- ABC Polymer Industries, LLC
- CEMEX S.A.B. de C.V.
- Fibercon International Inc.
- FORTA Corporation
- Nycon Corporation
- Propex Operating Company LLC
- SIKA Group
- THE EUCLID CHEMICAL COMPANY
- GCP Applied Technologies Inc.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.