Concrete fibers are reinforcing fibers that are basically responsible for improving and maintaining the strength, durability, and rigidity of concrete by prevent cracking that may be caused due to shrinkage. Thus, the demand for concrete fibers mainly in construction and road industries has increased over the years, thereby triggering the growth of concrete fiber market towards a concrete future.
Drivers and Restraints
Huge increase in construction due to growing economies and population explosion is the reason why APAC is dominating this market and will continue to do so during next few years. In the end-user industry segment, advancement in road and construction industries is propelling the growth in this segment, especially in the developing countries. However, higher operating costs, lower investments in R&D, and lack of technical knowledge are the factors that may hinder the market growth of concrete fiber.
About the Market
The global concrete fiber market is predicted to grow at a CAGR of 7.26%, reaching USD 2.84 Billion by 2020. This market has grown enormously in the past few years, out of which APAC is the biggest market, accounting for about 43.40% of the total market share in 2014. Country wise, China ruled the market with the highest market share in 2014, closely followed by U.S. Out of major types of materials; synthetic fibers governed the market with 47.87% of the total market share in 2014. Another upcoming segment among types of materials is steel fibers, which is expected to show a significant growth between 2015 and 2020. The mining sector is also expected to become fastest-growing end-user industry, followed by the industrial segment during the estimated period.
Some of the key competitors participating in this market include BASF SE (Germany), Sika Corporation (Switzerland), Propex Global (U.S.), Cemex (Mexico), Fibercon International Inc.(U.S.), The Euclid Chemical Company (U.S.), Bekaert SA (Belgium), Nycon (U.S.), and W.R. Grace and Company (U.S.).
Researchers categorize the concrete fiber market on the basis of materials, end-user industry, and geographical regions, analyzing the trends and forecast in each of the segments as well as the sub-segments. The segmentation of this market is as follows:
- Materials: Synthetic fiber, Steel fiber, Glass fiber, Natural fiber, Basalt fiber
- End-user Industry: Road industry, Construction, Industrial, Mining, Others
- Regions: APAC, North America, Europe, RoW