Indian concrete reinforcing fiber market is estimated to grow at a CAGR of 6.4% during the forecast period. Rising infrastructure spending and growing industrialization are the major factors leveraging market growth. 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 in infrastructure projects with the National Infrastructure Pipeline (NIP), during the period, 2019 to 2023, to ensure sustainable development in India. 

This leads to increasing demand for fiber-reinforced concrete that is utilized in several infrastructure applications including highways, commercial, roadways, and bridges, ports and airports, residential, and more. It is well suited for concrete applications that need protection from drying shrinkage and plastic, reduced construction costs, improved durability, and enhanced service life. The use of fibers in concrete can minimize the consumption of total energy of a construction project and thereby supports green building practices.

The 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 one of the crucial factors that is leveraging the adoption of concrete reinforcing fiber in the country. As per the India Brand Equity Foundation (IBEF), in 2019, housing sales in India reached 2.61 lakh units across seven major cities. This, in turn, is accelerating the demand for concrete reinforcing fiber to improve concrete strength. These fibers are normally utilized in concrete to control cracking due to drying shrinkage and plastic shrinkage.

Some key players in the market include Sika AG, BASF SE, UltraTech Cement Ltd., and ArcelorMittal SA. BASF offers MasterFiber, a part of BASF’s Master Builders Solutions brand. It is a synthetic fiber that is a new alternative concrete-reinforcement solution to conventional steel leading to increased crack control and durable structure service life. In May 2016, BASF inaugurated its new manufacturing plant for concrete admixtures in West Bengal, India. It was the company’s sixth construction chemicals plant in India that intends to fulfill the emerging demands for construction chemicals projects in the eastern part of India. In this new facility, the company is manufacturing custom-made and standard performance-based construction chemicals within the Master Builders Solutions brand. These comprise product ranges of concrete admixtures including MasterRheobuild, MasterGlenium, MasterPel, and MasterPolyheed, as well as chemical solutions for underground construction within the MasterRoc product brand. 

Research Methodology

The market study of the Indian 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

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• 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. Indian Concrete Reinforcing Fiber Market Research and Analysis by Type
2. Indian Concrete Reinforcing Fiber Market Research and Analysis by Application

The Report Covers

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