Asia-Pacific concrete reinforcing fiber market is estimated to grow at a CAGR of 5.4% during the forecast period. The major factors encouraging the market growth include the growing spending in infrastructure projects and rising industrialization in the region. As per the India Brand Equity Foundation (IBEF), India is expected to become the third-largest construction market globally by 2022. Certain initiatives such as Smart City Mission and Housing for all will likely accelerate the market growth. In 2019, the infrastructure sector attracted $14.7 billion across 74 deals, accounted for 40% of the total private equity/venture capital investment. This leads to an increasing demand for concrete reinforcing fiber which is increasingly gaining interest among the concrete community as it supports to decrease labor costs and construction time. Owing to these benefits, several structural elements are reinforced with steel fibers as total or partial substitution of conventional reinforcement (welded or rebars mesh). Fiber reinforced concrete can be utilized in a range of applications such as highways, roadways, and bridges, ports and airports, residential, commercial, and more. 

Asia-Pacific 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. Based on application, the market is classified into infrastructure, residential and commercial, and industrial. Growing residential and commercial construction is the major factor in driving the market growth. Increasing urbanization and rising smart city initiatives are some pivotal factors leveraging the market growth. Fiber-reinforced concrete is suitable for improving the toughness and durability performance of concrete and mortar. The use of fibers in concrete supports to decrease shrinkage cracks, increase energy absorption, increase strength, and minimizes dangerous spalling at high temperatures.

Some prominent players in the market include Sika AG, BASF SE, Owens Corning, and UltraTech Cement Ltd. Owens Corning offers Cem-FIL alkali resistant (AR) glass fibers which have been in use for 40 years in over 100 countries globally to develop architecture while providing strong and durable performance in extensively changing cement and mortar based applications, such as tunnels, floorings, utility poles, renders, top screeds, and more. These fibers are unique as a concrete reinforcement and contributes efficiently to the tensile strength earlier the concrete is able to crack owing to its affinity, its high elastic modulus, and its efficient bonding with the concrete.

Research Methodology

The market study of the Asia-Pacific concrete reinforcing fiber market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

1. Financial reports of companies involved in the market.
2. Whitepapers, research-papers, and news blogs.
3. Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Concrete Reinforcing Fiber Market Research and Analysis by Type
2. Asia-Pacific Concrete Reinforcing Fiber Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Asia-Pacific 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 Asia-Pacific concrete reinforcing fiber market.
• Insights about market determinants that are stimulating the Asia-Pacific concrete reinforcing fiber market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.