Wilmington, Delaware, United States, June 24, 2022 (GLOBE NEWSWIRE) -- Expert undertaking for a research report on the concrete fiber market finds the said market to expand at a CAGR of 6.2% for the forecast period from 2022 to 2031. Concrete fibers display superior physical properties to find extensive applications in the building & construction and transportation sectors.
Concrete fibers are used in the exteriors and interiors of industrial, commercial, and residential buildings. Concrete fibers are widely used in highways, bridges, roads, and sidewalks. The uniform distribution of short and long fibers helps to seal micro and macro cracks in concrete.
Array of advantages of concrete such as easy availability of raw materials, lower cost, higher fire and weather resistance, and higher compressive strength compared to wood accounts for its extensive application across several end-use industries.
Asia Pacific and Europe stand as key markets for concrete fiber in terms of volume. The regions held a significant 29.1% and 25% share respectively of the concrete fiber market in 2021. Growth of the building & construction sector in Asia Pacific and transportation sector in Europe account for substantial demand for concrete fiber in these regions.
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Concrete Fiber Market – Key Findings of the Report
- Critical advantage to reduce cost of corrosion in buildings and construction undertakings stokes demand for fibers such as synthetic glass and steel
- Demand analysis of concrete fiber market emphasizes the need to augment tensile strength and ductility of concrete to expand its applications
- Steel fibers product type held the leading more than 45% share among other key market segments in concrete fiber in 2021, and is projected to display significant growth rate in the upcoming years. Steel fibers are characteristic of excellent tensile and flexural strength, high durability, ductility, and shock and fatigue resistance that enable them to provide improved toughness and post-crack loading carrying capacity to concrete.
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- North America stood as fastest growing market for concrete fiber in 2021. Growth in North America concrete fiber market is powered by increasing use of synthetic fibers and steel fiber concrete in various end-use industries in the U.S.
- Expansion of product portfolio via innovation and diversification is a key growth strategy of players in the concrete floor market. Companies in the concrete fiber market are diversifying into production of forged carbon such as carbon fiber sheets and carbon fiber reinforced polymer products for competitive edge.
- Prospects of demand for carbon fiber in the development of novel products for sewage pipes and construction of dams to open new growth frontiers in the concrete fiber market. Role of manufacturers to develop products for automotive drive shafts to tap into lucrative opportunities to manifest growth.
- Initiatives of manufacturers to leverage novel modelling techniques such as 3D printing and injection molding machines to offer customized concrete fiber products are recent developments in the concrete fiber market. Increasing R&D in pultrusion method which is a composite synthesis process to obtain a constant cross-section and production rate is promising for the growth of concrete fiber market.
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Concrete Fiber Market – Growth Drivers
- Superior physical properties of high stability, heat resistance, and physical durability in fiber reinforced concrete for applications predominantly in construction and transportation sectors fuels the concrete fiber market
- Critical role of manufacturers to diversify into production of forged carbon apart from regular concrete fiber products strengthens demand
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Concrete Fiber Market – Key Players
Some of the key players operating in the concrete fiber market are;
- Sika Group
- GCP Appplied Technologies Inc.
- The Euclid Chemical Company
- BASF SE
- Bekaert
- Owens Corning
The concrete fiber market is segmented as follows;
Concrete Fiber Market, by Product
- Synthetic Fibers
- Glass Fibers
- Blended Fibers
- Steel Fibers
- Basalt Fibers
- Animal Origin Fibers
- Cellulose Fibers
Concrete Fiber Market, by Application
- Building & Construction
- Transportation Infrastructure
- Mining
- Industrial Flooring
- Others
Concrete Fiber Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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