Fiber Reinforced Concrete Market Forecast and CAGR
According to the latest research by Fact. MR, the fiber reinforced concrete demand is estimated to record a CAGR of 5.7% over the forecast period of 2021 to 2031. Its usage in developing transport infrastructure has been on the rise to provide high durability, thermal, mechanical and chemical resistance.
With the growing number of construction activities being undertaken such as airports, highways, roadways, expressways, dams and many others, fibre-reinforced concrete sales are expected to grow rapidly over the forecast period. The surge in demand is likely to be witnessed globally, as such concrete does not contract when it is cold or enlarge in heat.
Attributing to the development in transport infrastructure and growing rate of urbanization, this material holds dynamic use case scenarios in the near future. Mining is a supportive sector that creates a safe working environment for workers, where the material can gain a notable advantage over the forecast period.
- Glass Fiber
- Steel Fiber
- Natural Fiber
- Synthetic Fiber
- Micro-synthetic fiber
- Macro-synthetic fiber
- Others (Asbestos, etc.)
- Building and Construction
- Mining and Tunnel
- Industrial Flooring
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
Who are the Key Manufacturers of Fiber Reinforced Concrete?
The fiber reinforced concrete market is fragmented in nature with a few major manufacturers leading a position globally. Some of the prominent players are
- Formglas Products Ltd.
- Willis Construction Co. Inc.
- Ultratech Cement Ltd.
- Clark Pacific
- Bb Fiberbeton
- Stromberg Architectural
- ABC Polymer Industries
- Bekaert SA
- BASF SE
- Cemex S.A.B. de C.V.
- The Euclid Chemical Company
- FORTA Concrete Fiber
- Fibercon International Inc.
- Owens Corning
- GCP Applied Technologies
- Sika AG.
These companies are adopting business strategies such as long-term sales contracts, acquisition, product approval, collaborations, and partnership agreements etc. which are expected to lead the fiber reinforced concrete with larger market share.
Increasing Infrastructure Spending is Likely to Augment Fiber Reinforced Concrete Sales
The governments around the world are gradually spending on infrastructure projects, which is projected to fuel the demand for fiber reinforced concrete during the forecast period. Several countries are targeting the renovation of old infrastructure which is likely to add the value to the market.
This is trailed by precast application in bridges, roads, and commercial & residential buildings. The fiber reinforced concrete is widely used in shotcrete application for mining & tunneling purpose. The rapid infrastructure growth coupled with industrialization growth will drive the sales over the forecast period.
Furthermore, the rise in standalone building construction is expected to arise as one of the primary factors driving the demand for fiber reinforced concrete. The factors like industrialization, rapid urbanization and expanding population in the emerging countries are expected to increase the spending on rising infrastructure needs.
The creation of new roadways around the globe is projected to lift the demand for fiber reinforced concrete. The investment in bridges and road infrastructure is one of the key factor which provides social and economic benefits to both emerging and advanced countries.
Global Fiber Reinforced Concrete Market Outlook
Based on the global scenario, the fiber reinforced concrete value is projected to be prominent in Europe and North America region. As both these nations are main technology receptors, they are expected to arise as leading regions in terms of volume. The use of synthetic fiber and steel in North America is likely to feature a commendable gain in the fiber reinforced concrete market in the forecast period.
Additionally, the growth is also being observed in house refurbishment and repair activities. Moreover, Asia Pacific region is expected to show vigorous growth among all the regions. This is due to the presence of rapidly developing countries in the region. The rapid growth in transport infrastructure in countries like China, Japan and India are likely to increase regional growth. For instance, agriculture is a one of the major contributors to GDP in India, and the development of canals and manufacturing of pipes is likely to offer good scenarios to use the material.
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