The global concrete fibers market wasvalued at US$ 963.8 Mn in 2017 and is anticipated to expand at a CAGR of 6.2%from 2018 to 2026, according to a new report titled ‘Concrete Fibers Market:Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,2018–2026,’ published by Transparency Market Research (TMR) The global concretefibers market is driven by the rise in building and construction activitiesacross the globe.
Rising Demand for Concrete Fibers fromBuilding & Construction Industry to Drive Market
The global concrete fibers market is primarily driven by advancements inthe building & construction industry. The building & constructionsegment is estimated to account for a large share of the market. The segment isalso anticipated to expand at a considerable growth rate during the forecastperiod. Steel and glass concrete fibers are primarily used in building andconstruction activities. Glass fibers are used for architectural cladding. Steelfibers are used to build various transportation infrastructures such astunnels, bridges, and roads, as these provide higher strength as compared toother fibers. The construction industry in the U.S. is estimated to expand at afaster pace than that in China in the next 15 years. Construction is projectedto rise in the southern states in the U.S.
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Surge in Demand for Non-corrosive Materials toDrive the Concrete Fibers Market
Reinforced concrete is extensively used in various constructionactivities. Over two billion tons of reinforced concrete is produced annuallyacross the globe. It has many advantages including lower cost, easyavailability of raw materials, higher fire and weather resistance, and highercompressive strength as compared to wood. However, concrete lacks tensilestrength and ductility. The global cost incurred due to corrosion of buildingsis estimated at US$2.5 Trn annually. The estimated cost incurred to repaircorroded infrastructure is US$ 300 Bn annually in the U.S. alone. Syntheticfibers, glass fibers, and steel fibers are used to combat corrosion. Corrosionis a prevalent issue across the globe, which can be overcome with the use offiber reinforced concrete. Fibers help reduce crack widths within a concretesample. These cracks cause deterioration of any concrete structure, as theyprevent corrosive materials from reaching the rebar. These fibers improve otherproperties of the concrete such as its ability to induce strain hardening tothe areas where the post cracking tensile stress is higher than the tensilestrength.
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High Production and Operating Cost to Restrain theMarket
Ductility of plain concrete is enhanced by adding fibers. These fibersimprove the tensile and flexural strength and allow its use in structuralelements with no passive or active reinforcement. Production of synthetic-basedconcrete fibers require advanced technology; therefore, its production cost ishigher than that of traditional materials. Additionally, advanced technology isrequired to enhance the durability and to make concrete fibers lightweight,which is not met easily with the use of other materials such as conventionalconcrete. Concrete fibers can reduce construction time, labor, and materialcosts, and significantly decrease ongoing maintenance costs. High costsassociated with concrete fibers are likely to limit its widespread use. This,in turn, is projected to hamper the market.
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Steel Fibers Segment to Dominate Global ConcreteFibers Market
Based on product, the concrete fibers market has been divided intosynthetic fibers, glass fibers, blended fibers, steel fibers, basalt fibers,animal origin fibers, and cellulose fibers. Steel is likely to be a highlyattractive segment of the concrete fibers market during the forecast period. Itconstituted a major share of the market in terms of value and volume in 2017,as steel fibers help improve resistance to fracture, disintegration, andfatigue.
Transportation Infrastructure Segment DominatesConcrete Fibers Market
In terms of application, the concrete fibers market has been segmentedinto building & construction, transportation infrastructure, mining,industrial flooring, and others. Transportation infrastructure is anticipatedto be a highly attractive segment during the forecast period. However, thesegment is anticipated to expand at a sluggish pace during the forecast period.
North America Dominates the Global Concrete FibersMarket
Based on region, the concrete fibers market can be segregated into NorthAmerica, Europe, Asia Pacific, Latin America, and Middle East & Africa.North America is estimated to be a highly attractive region of the globalconcrete fibers market during the forecast period. The region held a largeshare of the global market in 2017. Major manufacturers of concrete fibers arelocated in North America.
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The market in Asia Pacific is anticipated to expand at a rapid paceduring the forecast period. Consumption of concrete fibers is expected to behigh in the region during the forecast period. Increase in the number ofhighway projects and rise in investments in the construction sector are majorfactors that are anticipated fuel the concrete fibers market in Asia Pacificduring the forecast period.
High Degree of Competition among Market Players
High degree of competition exists among market players operating in theconcrete fibers market. The market is dominated by few big players and ismoderately consolidated. Key players operating in the concrete fibers marketinclude Sika Group, BASF SE, Bekaert, GCP Applied Technologies Inc., OwensCorning, ABC Polymer Industries, LLC, Nycon Corporation, Fibercon InternationalInc., and Synthetic Resources, Inc.
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