Concrete Reinforcing Fiber Market Size, Share & Trends Analysis Report By Type (Synthetic Fiber, Steel Fiber, Glass Fiber, Natural Fiber, Basalt Fiber), By End-use Industry (Transport Infrastructure, Building & Construction, Mining & Tunnelling, Industrial Flooring, Other End-use Industries) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global concrete reinforcing fiber market size was valued at USD 2.13 billion in 2021 and is projected to reach USD 3.86 billion by 2030, registering a CAGR of 6.82% from 2022 to 2030.

 The mechanical strength of concrete can be improved by adding concrete reinforcing fiber, which is a fibrous material utilized in the process. Fibers are most commonly employed in concrete with the goal of reducing the appearance of cracks brought on by the loss of moisture and plastic shrinkage that occurs during the hardening process. The absence of features such as high stability, structural durability, and temperature resistance in non-fiber reinforced concrete is one of the distinguishing characteristics of concrete with reinforcing fibers.

Market Dynamics

Global Concrete Reinforcing Fiber Market Drivers

• Increasing preference for sustainable solutions due to environmental regulations

The strictness with which environmental standards are enforced is having a beneficial effect on the demand for concrete reinforcing fiber. The development of environmental regulations has compelled a variety of end-use industries to modify their methods of production in order to incorporate a greater number of fiber-based reinforcements and sustainable solutions. Concrete reinforcing fiber is an excellent option because it is friendly to the environment, in addition to having high levels of both strength and durability.

It is expected that environmental concerns will be the driving force behind future sales of concrete reinforcing fibers. Manufacturers of fiber-reinforced concrete are acutely aware of the expanding potential in the fiber-reinforced concrete (FRC) market, and as a result, they are ramping up their capacity expansion efforts to satisfy anticipated demand in the coming years.

Global Concrete Reinforcing Fiber Market Restraints

• Volatility in raw material prices and the presence of alternatives

Polypropylene and polyester are the two types of raw materials that are used in the production of concrete reinforcing fibre for a variety of building applications. As a result of the unpredictability in the price of crude oil, the cost of polypropylene fibre reinforced concrete is also going up.

Demand for reinforced concrete is being held back, at least to some degree, by a number of issues, the most significant of which are shifts in the prices of raw materials and the availability of alternatives.

Global Concrete Reinforcing Fiber Market Opportunity

• Rising urbanization & growing investment in construction

The development in urbanisation and advancements in construction technology are both factors that are driving up demand for concrete reinforcing fibre. The use of fibre reinforced concrete is being favourably influenced by macroeconomic variables, one of which is an increasing emphasis on the building of infrastructure, particularly in emerging countries.

Polyethylene (PE) fibre reinforced concrete is projected to gain ground as a result of growing investments in building and infrastructure development, which have led to an increase in demand for asphalt concrete.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

A positive outlook for the concrete reinforcing fibre market in North America over the following seven years is anticipated to be exhibited by a high inflow of private investments in the construction industry in 2021. This is projected to be accompanied with a rising number of construction activities. It is projected that the region's industrial sector will experience significant expansion as a direct result of the increasing GDP in North America, which will contribute to growth in the market. It is anticipated that the increased usage of concrete in underwater constructions for the purpose of infrastructural development in economies such as Turkey will be the primary driver of demand for reinforced concrete in the region. In addition, the construction of marine infrastructure in developed countries, such as bridges and tunnels, is anticipated to be a driving force behind industrial expansion.

It is anticipated that the growing population in the APAC region would lead to an increase in the number of activities related to infrastructure in order to support the growing urbanisation in the region. It is anticipated that an increase in industrial operations in the region would propel the market for industrial infrastructure, and it is anticipated that an increase in employment as a result of this will propel the residential construction segment in the region. The prolonged drop in oil prices, which has restricted the growth of the construction sector in recent years, is expected to be the primary contributor to the sluggish growth in terms of revenue that is anticipated for the Middle East and Africa at a compound annual growth rate of 4.9 percent over the next few years. The industry's expansion has been badly impacted by the mounting financial strain that is the result of falling investment from both public and private customers.

Segmental Analysis

Synthetic fibre, steel fibre, glass fibre, natural fibre, basalt fibre, and natural fibre are the categories that categorise the many types of concrete reinforcing fibres. As a result of its lower cost and greater ease of application in comparison to other types of concrete reinforcing fibres, synthetic fibre now holds a 27.2% share of the global market for concrete reinforcing fibre.

Synthetic fibres do not respond to changes in temperature by expanding or contracting in size. This helps to keep the surface from becoming cracked. Man-made materials such as synthetic fibres are resilient enough to withstand the alkaline environment of concrete for extended periods of time. A wide variety of synthetic fibres can be created using a number of polymer-based polymers, including nylon, polyester, polyethylene, and polypropylene.

Concrete reinforcing fibres find use in a variety of end-use industries, including transportation, building and construction, mining and tunnelling, industrial flooring, and others. Other end-use industries include: The concrete reinforcing fibre market is made up of a 29.4 percent share that is contributed by the transportation industry.

Because it provides the concrete with great durability, impact resistance, and mechanical strength, concrete reinforcing fibre is a preferred choice in the transport business. Demand for concrete reinforcing fibre in the transportation industry is expected to expand as a result of rising investments in infrastructure projects related to transportation.

It is anticipated that a growth in the number of government initiatives and policies designed to aid in the development of transportation infrastructure around the world will fuel the industry.

Impact of covid-19

Covid-19 had some profound adverse impacts on the global advanced ceramics market.

COVID-19 spread across the world from China, making the whole world stand still and to a complete lockdown situation. Covid-19 is an infectious disease that was caused by a newly discovered coronavirus. During the time, the fatality rate among the population above 40 was also high globally. The disease causes severe illness for people suffering from medical conditions like diabetes, cardiovascular disease, chronic respiratory disease, etc.

Considering the situation during that time, it was declared a pandemic which led to numerous countries, including the major economies like China, the United States, India, and others, implementing lockdowns which adversely affected the global economy.

In the first two quarters of 2020, the economic and industrial operations temporarily halted. Almost every manufacturing unit where advanced ceramics is used, such as electrical and electronics, transportation, industrial, chemical, and other End-user Industries (except medical), reduced their manufacturing capacities due to the lack of workers. The lockdown implemented put a halt to global supply chains. This resulted in repercussions in terms of both production and demand for advanced ceramics.

Market Recovery Timeline and Challenges

With time the lockdowns were uplifted, and relaxation was made to the public. Gradually, the economy picked up the pace and started its operations, bringing the demand in the global advanced ceramics market and increasing among various industries. As the situation improved during the initial months of 2021, the economies also strengthened their fiscal policies and initiated their development process; the end-user industries began their activities, bringing the overall ceramics market back on track.

Recent Developments

In 2020, The STRUX 90/40 macro synthetic fibres mobile app solution, which can be utilised in a number of concrete applications, has had its version 2.0 launched by GCP Applied Technologies Inc.