The market for concrete reinforcing fibres was valued at USD 2.17 Billion in 2020, and from 2021 to 2028, it is anticipated to grow at a CAGR of 8.6%. The development of the business is anticipated to be aided by rising public investment in infrastructure building and a growing emphasis on using environmentally friendly building materials.
The business for concrete reinforcing fibre is anticipated to experience growth due to the increased need for off-site construction. The worldwide construction sector is anticipated to experience growth as a result of the expanding population, fast urbanisation, and industrialization in emerging economies. According to projections, this will increase demand for reinforced concrete in a variety of construction applications, which will fuel growth.
Buyer switching costs have decreased as a result of the emergence of several businesses offering higher quality goods at comparable rates with minimal product differentiation, increasing the buying power of consumers. At the same time, the threat of alternatives has been significantly reduced by the product’s expanding popularity as a result of its unique combination of strength, maintenance, and beauty.
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Due to constraints in the production of such goods with high-stress resistance, polyethylene (PE) fibre reinforced concrete made up 8.43% of the market in terms of revenue in 2021. Over the projected period, demand for the product is anticipated to be driven by manufacturers’ increased R&D efforts to enhance product stiffness and strength. Due to qualities including ease of handling, light weight, resistance to corrosion, and quick dispersion, polypropylene (PP) reinforced products are increasingly replacing steel in manufacturing. Additionally, the product’s widespread use in earthquake-prone regions helps to reduce the number of fatalities among people, which promotes high adoption rates.
The bulk of construction projects, including those for infrastructure, homes, and businesses, require these items. Over the projection period, initiatives launched by significant manufacturers to make lightweight macro-polymers with exceptional chemical stability are anticipated to offer up new growth opportunities across a variety of construction activities. Due to characteristics like crack control and reduced permeability in various constructions, the market for concrete reinforcing fibre in the building and construction sector is anticipated to expand at a CAGR of 5.7% in terms of volume from 2016 to 2030. Growth is anticipated to be fueled by the product’s high demand in applications such as walls, floors, basements, grade slabs, and foundations.
Over the next seven years, the concrete reinforcing fibre market in North America is anticipated to have favourable growth due to a high influx of private investments in the construction industry in 2021 and an increase in construction activity. Because of the growing market in North America and the expanding GDP there, it is projected that the industrial sector in the area will experience significant growth. The increased usage of reinforced concrete in underwater structures for infrastructural development in economies like Turkey is anticipated to drive the demand for reinforced concrete in the region. Additionally, the construction of marine constructions like tunnels and bridges in developed countries is anticipated to fuel industrial expansion.
Key Organizations & Market Share Information
Due to the capital-intensive nature of the production process, the market for concrete reinforcing fibre is characterised by the presence of well-established players with a solid financial foundation. The businesses run their operations through a network of manufacturing facilities spread across various sites, with distribution taking place at numerous sales locations throughout the service area.
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- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa