The global concrete reinforcing fiber market is estimated to grow at a CAGR of 4.8% during the forecast period. Some pivotal factors accelerating the market growth include the rising industrialization and growing infrastructure projects across the globe. As per the White House, in the 2020 budget, the US President has recommended to pass legislation that generates minimum $1 trillion in infrastructure investment. Along with a long-term surface transportation reauthorization, the US Administration is focused on offering additional investments in infrastructure for various sectors, including water infrastructure. The US Administration is focusing on working with the Congress for the development of a package that will substantially improve the US infrastructure, and the Budget comprises $200 billion towards this effort. With this amount, $10 billion is distributed for setting up a Federal Capital Revolving Fund to encourage more economical Federal investment in buildings and other property. 

These investments will drive the adoption of 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. It is well suited for concrete applications that needs protection from drying shrinkage and plastic, reduced construction costs, improved durability, and enhanced service life. The fibers use in concrete can minimize the consumption of total energy of a construction project and thereby supports green building practices.

Market Segmentation

The global 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.

Synthetic Fibers Finds Significant Application in Construction Projects

Synthetic fibers include polypropylene, polyester, nylon, and polythene. These fibers are particularly engineered for concrete that are produced from man-made materials to resist in the long-term alkaline concrete environment. Synthetic fibers are extensively added to concrete to minimize plastic shrinkage cracking of structural and reinforced plain concrete and to decrease temperature cracking and shrinkage in structural plain concrete slabs on grade. Such fibers are used as admixtures and along with any structural reinforcement, temperature and shrinkage reinforcement and joints. It may be utilized in concrete over steel deck construction. Additionally, these fibers may be utilized in fire resistant construction on steel decks. Adding synthetic fibers supports to reduce thermal and shrinkage cracks. Synthetic fibers may also be utilized for decorative and architectural concrete products and to prevent early age cracking. Other benefits of using synthetic fibers include lower permeability, providing shatter resistance, increased impact and abrasion resistance, and reduce plastic settlement cracks and plastic shrinkage cracks. 

Global Concrete Reinforcing Fiber Market Share by Type, 2019 (%)

Regional Outlook

Geographically, Asia-Pacific is anticipated to witness fastest growth during the forecast period owing to the rising industrialization and increasing spending in infrastructure projects. As per the India Brand Equity Foundation (IBEF), India is anticipated to become the third largest construction market across the globe by 2022. The country plans to invest $1.4 trillion on infrastructure projects with the National Infrastructure Pipeline (NIP), during the period, 2019 to 2023, to ensure sustainable development in India. This, in turn, is estimated to boost the adoption of fiber-reinforced concrete as a composite material to enhance structural integrity. These fibers may be appropriate where reduced cracking and high tensile strength are required or when traditional reinforcement cannot be placed. Fiber-reinforced concrete increases the impact strength of concrete, reduces the crack growth and results in a larger strain capacity of the composite material.

Global Concrete Reinforcing Fiber Market Growth, by Region 2020-2026

Market Players Outlook 

Some prominent players in the market include Sika AG, BASF SE, Owens Corning, N.V. Bekaert S.A., and GCP Applied Technologies Inc. The market players are using some key strategies to increase their market share. For instance, in August 2019, The Master Builders Solutions experts introduced their new website www.masterfiber.basf.com which is offering the advantages of MasterFiber and the unique customer service provided by a global team of concrete experts. It is an excellent innovation that is gaining interest among its customers. Multiple references in various European countries have already demonstrated the sustainability benefits of MasterFiber. The Master Builders Solutions experts are encouraging the renovation of the port of Barcelona with MasterFiber 249. With polypropylene fibers, 60.000 m2 of pavement will be optimized for improvement of the chloride resistance and durability of the area.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global concrete reinforcing fiber market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.