Concrete Reinforcing Fiber Market Size, Share & Industry Analysis, By Fiber Type (Polymers, Steel, Glass, and Others), By End-use Industry (Building & Construction, Transportation Infrastructure, Mining & Tunnel, Industrial Flooring, and Others), and Regional Forecast, 2024-2032

The global concrete reinforcing fiber market size was valued at USD 2.36 billion in 2023. The market is projected to grow from USD 2.49 billion in 2024 to USD 4.62 billion by 2032 at a CAGR of 8.0% during the 2024-2032 forecast period. Asia Pacific dominated the concrete reinforcing fiber market with a market share of 77.12% in 2023.

Concrete reinforcing fiber is a fibrous material utilized to enhance tensile strength and minimize cracking and shrinkage in concrete. These fibers, derived from materials, such as steel, glass, synthetic, and natural fibers, are incorporated into the concrete mix prior to setting. The addition of these fibers improves the structural integrity and longevity of concrete, making it more resilient to impacts, abrasions, and various stresses. This technology is extensively employed in the construction industry and utilized in applications, including roads, bridges, buildings, and tunnels, providing an alternative or supplement to traditional steel rebar and mesh reinforcement.

The usage of concrete has grown over time as technology has grown, and the construction industry's demand for less expensive yet stronger materials continues to grow. The addition of various types of reinforcing to concrete is a key development that has substantially enhanced its strength. Fiber-reinforced concrete is one of the more recently investigated varieties of concrete, and it has been shown to have a number of advantages. Concrete reinforcing fiber is primarily driven by the growing demand from the building & construction sector for various applications, including road and infrastructure development, flooring applications, and others.

The market is also driven by superior properties provided by fiber-reinforced concrete, such as high durability, improved load capacity, and high resistance toward abrasion, corrosion, and early-age shrinking. Fibers in concrete can help minimize a construction project's total energy consumption and contribute to sustainable building standards.

The COVID-19 pandemic had a detrimental impact on every aspect of the global economy, and the building & construction and manufacturing industries were no exception. China, India, Germany, Italy, Brazil, and Canada announced lockdowns, leading to restricted movement of materials. This factor severely affected the supply chain of the manufacturers operating in the market.

Concrete Reinforcing Fiber Market Trends

Rising Demand for Sustainable Solutions Creates an Opportunity for Market Growth

The market is growing significantly due to the increasing demand for sustainable solutions in the construction of infrastructure. The demand for eco-friendly construction materials, stringent environmental regulations, and higher public investments in infrastructure construction are key factors expected to drive the concrete reinforcing fiber market growth during the forecast period. Environmental concerns are expected to be the main driver of future sales of concrete reinforcing fibers, prompting manufacturers to expand their production capacity to meet the anticipated demand for sustainable fiber-reinforced concrete solutions in the coming years.

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Concrete Reinforcing Fiber Market Growth Factors

Growth of the Building & Construction Industry, Especially In Emerging Economies, Is Driving Market Growth

In emerging countries, governments are financing projects, including the construction and enlargement of airport shopping centers, and transportation services, such as subways, sports stadiums, parks, and auditoriums. For example, the Government of India has permitted 100% Foreign Direct Investments in construction projects, such as townships, residential and commercial buildings, bridges, resorts, hospitals, and educational institutions. The growing foreign investments in the construction industry are expected to significantly increase the use of concrete reinforcing fiber products. The significant increase in population has also played a crucial role in driving growth in the residential construction industry and, subsequently, the concrete reinforcing fiber market. Furthermore, the movement of people from rural areas and small towns to urban centers and other countries in pursuit of career opportunities and better standards of living has contributed to the growth of urban populations, which is slated to have a positive impact on the demand of concrete reinforcing fiber.

RESTRAINING FACTORS

Price Fluctuations of Raw Materials May Hinder Market Growth

Concrete producers need to procure fibers such as glass, polymers, and steel from different sources to minimize risks, but the inconsistent supply and quality of these raw materials pose limitations. Moreover, the volatility in prices of key raw materials such as polypropylene and polyester, which are essential for producing concrete reinforcing fibers, is influenced by fluctuations in crude oil prices. This unpredictability in raw material costs is having a certain impact on the demand for reinforced concrete.

Concrete Reinforcing Fiber Market Segmentation Analysis

By Fiber Type Analysis

Polymers Segment Dominated Owing to Increasing Use in Concrete Products in End-Use Industry

Based on fiber type, the market is classified into polymers, steel, glass, and others.

The polymers segment held the largest market share in 2023 and is estimated to record a significant growth rate during the forecast period. The segment is experiencing significant growth globally, driven by various factors in different regions. Polymer fibers are highly valued for their ability to enhance the durability and flexibility of concrete. They effectively control shrinkage cracking, improve impact resistance, and reduce permeability, making them ideal for a wide range of applications, including residential, commercial, and infrastructure projects. The growing emphasis on sustainable construction practices has bolstered the demand for polymer fibers. These fibers reduce the need for steel reinforcement, thereby lowering the overall carbon footprint of construction projects.

The steel segment is anticipated to register significant growth during the forecast period due to its high tensile strength and ability to enhance the mechanical properties of concrete significantly. These fibers are ideal for applications that require increased load-bearing capacity and durability. The industrial and commercial construction sectors are growing, driven by economic expansion and urbanization. Steel fibers are preferred in these sectors for their ability to withstand heavy loads and harsh environmental conditions.

Glass fibers are increasingly used in concrete reinforcement due to their high tensile strength, resistance to corrosion, and ability to enhance the aesthetic appeal of concrete surfaces. This segment is gaining traction in both structural and decorative applications. Glass fibers offer high tensile strength while being lightweight, making them suitable for a variety of applications.

By End-use Industry Analysis

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Building & Construction Segment Led Due to High Adoption of Reinforcing Fiber

In terms of end-use industry, the market is segmented into building & construction, transportation infrastructure, mining & tunnel, industrial flooring, and others.

The building & construction segment held the largest concrete reinforcing fiber market share in 2023. Rapid urbanization and the expansion of infrastructure in emerging economies drive the demand for durable construction materials. The increasing number of residential, commercial, and mixed-use developments necessitates the use of high-performance concrete solutions. This factor is expected to drive the segment's growth in the global market.

The transportation Infrastructure segment is predicted to witness notable growth in the coming years. This segment is experiencing significant growth due to Asia Pacific region's substantial investments in upgrading and expanding its transportation networks. This segment encompasses a variety of structures, including highways, bridges, tunnels, and airports, all of which benefit from the enhanced durability and strength provided by concrete reinforcing fibers.

The growth of the mining industry, driven by increasing demand for minerals and resources, requires robust construction solutions for underground tunnels and shafts. Reinforcing fibers improve the durability and load-bearing capacity of concrete used in these applications.

The growth of the industrial flooring segment is associated with the expansion of industrial activities globally, driven by manufacturing, logistics, and distribution sectors, increasing the demand for high-performance flooring solutions.

REGIONAL INSIGHTS

By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific occupies the dominant share of the global market and might emerge as the fastest-growing region in the future owing to the extensive urbanization, industrialization, and infrastructure development. China, India, and Japan are leading in terms of the demand for advanced construction materials. The rapid urbanization in China and India drives the need for durable and high-performance construction materials for residential, commercial, and infrastructure projects.

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The market in North America is growing due to factors such as infrastructure development, industrial growth, and advancements in construction technologies. The region's emphasis on durability, sustainability, and cost-efficiency in construction projects significantly boosts the demand for reinforcing fibers.

Europe is expected to showcase significant growth in the global market during the forecast period. The region's stringent regulations and high standards for construction quality drive the adoption of reinforcing fibers. Europe's aging infrastructure, including roads, bridges, and public transport systems, requires significant upgrades. Projects such as the Trans-European Transport Network (TEN-T) boost the demand for durable and long-lasting construction materials.

The market in Latin America is driven by infrastructure development, urbanization, and industrial growth. Brazil, Mexico, and Argentina are key contributors to the market's expansion.

The growth of the market for concrete reinforcing fiber in the Middle East & Africa is associated with rapid urbanization, infrastructure development, and industrial expansion. Significant investments in mega-projects and economic diversification efforts drive the region's construction industry.

KEY INDUSTRY PLAYERS

Companies Enter Contracts with Other Market Leaders to Expand Their Existing Markets

In terms of the competitive landscape, the market depicts the presence of established and emerging companies. BASF SE, Bekaert, NYCON Corp., Arkema Group, and Owens Corning are some of the key players in this market. Market participants are fiercely competing with international and regional players with extensive distribution networks, regulatory know-how, and suppliers. In addition, companies sign contracts, acquisitions, and strategic partnerships with other market leaders to expand their existing markets.

List of Top Concrete Reinforcing Fiber Companies:

• BASF SE (Germany)


• Bekaert (Belgium)


• NYCON Corp. (U.S.)


• Arkema Group (France)


• Owens Corning (U.S.)


• FORTA Corp. (U.S.)


• Euclid Chemical Company (U.S.)


• Kasturi Metal Composites Ltd (India)


• Fibercon International Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• February 2024: Arkema and Sireg Geotech developed the bendable composite rebar. This is an innovative alternative to traditional steel reinforcement. Sireg's fiberglass bars developed Glasspree TP bars by using Arkema's Elium thermoplastic resin.


• August 2023: Nuvoco Vistas Corp. Ltd., India's fifth-largest cement group in terms of capacity, announced that it had been granted a patent for its revolutionary product, the 'Fibre Reinforced Cement Composition,' branded in the market as 'Duraguard Microfiber Cement.' The cement's clinker is 48-52% tricalcium silicate, with low tricalcium aluminate, and contains electrostatically precipitated dry fly ash. The producer says that it offers enhanced bonding, crack resistance, strength and durability, reduced permeability, and a smoother surface finish than ordinary Portland cement (OPC). Nuvoco Vistas first applied for a patent for the product in mid-2018.


• August 2022: Owens Corning and Pultron Composites entered a joint venture agreement to manufacture industry-leading fiberglass rebar. Such a joint venture helped Owens Corning to increase market access to PINKBAR + Fiberglass Rebar, which is used for flatwork and residential applications.


• October 2021: Jogani Reinforcement launched polyfiber 3S new generation concrete and construction fiber for durable and crack-free infrastructure in India. The superior grade new generation polyfibre 3S launched by Jogani Reinforcement has revolutionized the construction and infrastructure industry, especially in India.

REPORT COVERAGE

The report provides a detailed analysis of the market. It focuses on key aspects, such as leading companies, fiber types, compositions used to produce these products, and end-use industries of the product. Besides this, it offers insights into the market and current industry trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors contributing to the market's growth.

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Report Scope & Segmentation