According to a recently release market research report, the concrete Fibers Market to be a USD 4 Billion industry by 2026 with a CAGR of 8%.
Concrete fiber, also referred to as fiber-reinforced concrete, may be defined as a fibrous substance comprising concrete that is used to increase structural integrity. Fibers used in concrete help to monitor and manage the cracking of plastic shrinkage and the cracking of drying shrinkage. There are various factors that influence the properties of concrete fibers, such as fiber volume, relative stiffness of the fiber matrix, fiber direction, workability and concrete compaction, among others.
Fiber is a small piece of binding fiber with qualities that have certain properties. Circular or flat they may be. A helpful parameter called “aspect ratio” also defines the fiber. The fiber ‘s aspect ratio is the proportion of its length to its diameter. The average aspect ratio is between 30 and 150. It is not considered that continuous meshes, woven fabrics, and long wires or rods are discrete fibers and thus cannot be used or termed as concrete fibers.
The Global Concrete Fibers Market was valued at around USD 2.32 Billion in 2019 and by current and projected trends will reach valuation of more than USD 4 Billion by 2026 end. The industry leaders predict the global Concrete Fibers market growth of more than 8% in terms of CAGR. In terms of volume, demand for concrete fibers stood at around 330 Kilo Tons in 2019. Increasing demand for non-corrosive materials and rising penetration of concrete fibers in end-user industries are expected to boost the demand for Concrete Fibers market in the years to come. However, higher upfront costs are some of the challenges presented to Concrete Fibers market development and growth.
Concrete fiber follows a sequence of individual activities that give the finished product greater meaning and value. The supply chain encompasses all steps, from the production of raw materials to the sale of the final product, which is subsequently used in different end-use sectors. Concrete fibers are explicitly used or are combined with concrete. The fiber is shaped into different uses into various items, such as cloth, mesh, thread, and chopper fiber.
Some of the leading and top Concrete Fibers companies in the global Concrete Fibers market include BASF, ABC Polymer Industries, Nycon, Owens Corning, NV Bekaert, Sika, Propex, Fibercon, Cemex, Euclid, GCP Applied Technologies, Reliance, FORTA, Helix, Bautech, Ultratech, Arcelormittal, Concrete Enhancement, SRW Concrete, and Hunan Sunshine Steel Fiber Co. Ltd. among others. Among these, BASF, Sika, and Propex are leading the innovation and products/solutions offerings in the global Concrete Fibers market. However, numerous players are targeting inorganic growth and increased market share through agreements and partnerships with other relatively small and medium organizations.
The global Concrete Fibers market can be classified on the basis of product types into Natural Fibers and Synthetic Fibers, wherein “Synthetic Fibers” category held the leading market share of around 60%, in terms of revenue. In terms of applications, global Concrete Fibers market can be segmented into Bridge & Road, Industrial Flooring, Residential & Commercial Building, and Others. In terms of geography, Asia Pacific region held the leading market share of around 40% closely followed by North America in 2019, in terms of value. Whereas, among the countries, the U.S. and China were the leading countries for Concrete Fibers across different regions worldwide, in 2019.