Concrete Fibers Market - By Products (Steel, Synthetic (Polypropylene, Nylon, Polyester), Glass, Natural, Basalt), By Application (Pavement, Shotcrete, Precast, Slabs On Grade, Composite Metal Decks), By End Users & Global Forecast, 2023-2032

Concrete Fibers Market Size

Concrete Fibers Market size valued at USD 1.9 billion in 2022 and is projected to witness more than 9.5% CAGR from 2023 to 2032. Driven by the visible surge in infrastructure projects across emerging nations.
 

The infrastructure sector has experienced a massive boom in recent years, given its crucial role in supporting economic growth and the necessity for rapid development across developing economies. The expansion can further be attributed to the accelerating rate of urbanization, favorable FDI norms, and increasing policy support. Besides, governments have been undertaking several initiatives and infrastructure development projects, which increases the demand for construction fibers.
 

Concrete fibers are made of several raw materials, including steel, glass, basalt, and polypropylene, that undergo frequent price changes. These fluctuations in prices significantly impact the market revenue. Nevertheless, the recouping construction sector and the increased cognizance of the benefits of concrete fibers in construction projects will stimulate the concrete fibers market revenue.
 

Concrete Fibers Market Analysis

Regarding the product category, the steel fibers segment exceed USD 940 million by 2032, owing to the benefits of steel fibers in minimizing the repair & maintenance costs, surface permeability, dusting, and water usage. Given their increased toughness, tensile strength, and impact resistance, steel concrete fibers act as crack arresters and provide tough and durable surfaces for buildings.
 

The growing preference for concrete fibers due to these characteristics in conjunction with the growing number of constructions across the globe will fuel the market growth. For instance, the global construction industry is predicted to reach USD 15.2 trillion in 2030 from USD 10.7 trillion in 2020. The expanding construction industry is set to be the growth engine for the concrete fiber market over the coming years.
 

The concrete fibers market from the pavement application amassed over USD 260 million in 2022 and is projected to depict around 9% CAGR between 2023 and 2032. The segment growth can be credited to the noticeable rise in infrastructure investments and the increasing utilization of fiber-reinforced concrete in road construction projects. Concrete fibers substantially improve material properties such as ductility, fatigue strength, flexural strength, toughness, and impact resistance. These attributes will propel the demand for concrete fibers for pavement applications.
 

The industrial & commercial infrastructure segment surpassed USD 770 million in 2022 and is forecast to showcase 10% growth rate through 2032. The booming industrial sector and the rising demand for robust and long-lasting commercial establishments, such as mining and metro tunnels, offices, airports, etc., are anticipated to boost the demand for concrete additives.
 

Asia Pacific concrete fibers market valuation to cross USD 1.7 billion by 2032. The regional growth is backed by the flourishing construction sector across countries such as Japan, China, and South Korea. China, which was the epicenter of the COVID-19 pandemic, has been experiencing considerable growth in the infrastructure sector owing to various stimulus efforts by the government. Between 2021 and 2022, infrastructure projects were on the rise; however, over the coming years, the country is expected to experience significant investments in non-residential and real estate segments. These factors are most likely to augment the growth of the concrete fiber market.
 

In addition, the massive growth in mining activities, increasing infrastructure development projects in other countries, and supportive policy framework will positively influence the regional stastatics.
 

Concrete Fibers Market Share

Major companies operating in the concrete fibers market are:

• MBCC Group
• Sika AG
• GCP Applied Technologies Inc
• The Euclid Chemical Company
• Bekaert Corporation
• Owens Corning 
• ArcelorMittal

Product manufacturers in the market have been strategically associating themselves with leading players to strengthen their business standing and make the most of available growth opportunities.

Impact of COVID-19 Pandemic

The COVID-19 virus outbreak had a detrimental impact on the concrete fibers market, especially during the first half of 2020. The unprecedented lockdowns and movement restrictions across numerous economies significantly disrupted supply chain operations, causing delays and halt in construction activities. Besides, the increasing prospects of an anticipated economic slowdown transformed consumer behavior, leading to limited expenditure on residential construction, reconstruction, and renovation projects, further impeding market growth.
 

However, the eased-out regulatory measures and resuming industrial operations in the latter half of the year helped the industry revival. In addition, the implementation of necessary growth measures by several governments is further expected to transform the market dynamics through the ensuing years.
 

This market research report on concrete fibers includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments:

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By Product

• Steel fibers
• Synthetic fibers
  • Polypropylene
  • Nylon
  • Polyester
  • Others
• Glass fibers
• Natural fibers
• Basalt fibers

By Application

• Pavement
• Shotcrete
• Precast
• Slabs on grade
• Composite metal decks
• Others

By End-user

• Residential
• Industrial & Commercial Infrastructure
• Roads & bridges
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Thailand
  • Indonesia
  • Vietnam
  • Philippines
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria