Zion Market Research has published a new report titled “Concrete Fiber Market (Synthetic Fiber, Glass Fiber, Steel Fiber, Basalt Fiber and Others) Market for Construction, Road Industry, Industrial, Mining and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020” According to the report, the concrete fiber market was valued at USD 1.87 billion in 2014 and is expected to generate revenue of USD 2.84 billion by end of 2020, growing at a CAGR of 7.2% between 2015 and 2020. In terms of volume, the global concrete fiber market stood at 300 kilo tons in 2014.
Concrete fiber can be defined as composite material consisting of mixtures of cement, concrete or mortar and discrete, discontinuous, evenly dispersed suitable fiber. Fiber is a reinforcing material that gives structural integrity to the concrete. In concrete structure, the fibers are mixed or placed in such a way that construction base become stable and stiff. Concrete fiber is extensively used in exterior and interior parts of commercial, residential, and industrial construction and building. It is widely deployed in highways, roads, bridges, and pavements in the transportation industry.
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Concrete fibers market is mainly driven by growing urbanization and improving construction industry worldwide. Increasing use of basalt fiber as a strengthening material for concrete reinforcement is also predicted to fuel market growth in the years to come. However, capital-intensive R&D, lack of technical knowledge and high operating cost are some of the factors affecting market growth.
Several kinds of fibers used to reinforce the concrete are synthetic fibers, steel fibers, basalt fibers and glass fibers among others. Steel fibers emerged as potential segment with over 45% of the total concrete fiber market share in 2014. Synthetic fiber is another key segment and predicted to show widespread adoption in the years to come. Concrete fiber finds extensive applications in various sectors road industry, construction, industrial, mining and others. Construction was major application segment and accounted for major chunk of market share in 2014. Construction industry worldwide is witnessing an unprecedented boom in recent times. Government also implements different schemes to develop amusement parks, reading halls, libraries and swimming pools for the citizens. Government schemes and policies are also expected to fuel growth of construction industry.
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Asia Pacific is one of the leading regional markets for concrete fiber and also expected to grow at significant rate during the years to come. Globalization coupled with increasing disposable incomes leads to the shifting preference towards the concrete construction. China is at the forefront of concrete fibers demand while France, India, Germany, Japan, and U.K. are the other major markets. Increase in the demand for concrete fibers in Asia-Pacific is mainly attributed to growth of the manufacturing sector and sustained industrialization in this region.
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Some of the key participants in concrete fiber market BASF SE, The Euclid Chemical Company, SIKA AG, Fibercon International Inc, ABC polymers industries, Bekaert SA, Nycon, and W.R. Grace and Company.
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