Global Concrete Fiber Market - Segmented by Type, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)
The global concrete fiber market is expected to witness a CAGR of 7.9% during the forecast period. Growing construction and infrastructural activities the Asia-Pacific region is the major factor driving the market.
Transport Infrastructure is the Largest Segment
The transport infrastructure segment is expected to have the largest share, by application, during the forecast period. Concrete fibers are majorly required in the transport infrastructure for making roads. They enhance toughness and post-crack load carrying capacity of the roads. Concrete fiber is also required in the construction of highways, bridges, railways, and ports, and airports. The rapid increase in construction activities in developing economies is expected to significantly benefit the market for concrete fiber. Additionally, the increasing investments in infrastructure in Asia-Pacific and Middle East & Africa are expected to further augment the market growth during the forecast period.
Steel Concrete Fiber Dominates the Market
Steel concrete fibers offer excellent tensile & flexural strength, shock & fatigue resistance, ductility, and high durability. This enables concrete to provide enhanced toughness and post-crack load carrying capacity. Owing to these properties, steel concrete is a highly preferred option for transport infrastructure. The increasing investments on infrastructure in developing economies, such as China, India, and Indonesia, are expected to boost the demand for steel concrete fiber during the forecast period.
Asia-Pacific is the Most Dominating Region
In terms of consumption, in 2017, Asia-Pacific held the largest share. The consumption levels of concrete fiber in Asia-Pacific countries, such as China, India, and Indonesia, are expected to rise at a great pace, owing to increasing demand from the transportation and building & construction industry. The road network in India has gradually improved over the years, owing to the need for better transportation facilities. With rapid growth in the transportation infrastructure of the country, the demand for concrete fiber is expected to rise. Additionally, increase in the number of highway projects, and investments in the sector, are further expected to augment the growth of the concrete fiber market during the forecast period.
Key Developments in the Market
October 2017: British Columbia researchers developed new seismic-resistant, fiber-reinforced concrete.
Major Players: BASF SE, Reliance (Recron), ABC Polymer Industries, and Beakart, amongst others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type and end-user industry in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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