Global Concrete Fiber Market: By Type, By End-Use Industry, By Geographic Scope & Forecast 2025

Concrete Fibers Market will exceed USD 2.8 billion by 2025; according to a new research report.

Concrete fibers market is projected to grow substantially over the forecast period, owing to the flourishing industrial and residential construction sector in Asia Pacific. Product is principally used to control cracking caused by plastic shrinkage and drying shrinkage, making it resilient against cracks. Advancements in the industry such as development of concrete microfibers are able to render primary reinforcement which are capable to replace steel mesh.

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Growing industrialization in Asia Pacific has resulted in inflow of large number of inhabitants from rural to industrialized urban, metro and megacities such as Seoul, Guangzhou, Shanghai, Tokyo, Jakarta, Manila, and Delhi. These factors led to growing demand for industrial and commercial infrastructure. According to the International Energy Agency, China is among the key cement producer which accounted for almost 60% of the global production in 2018. It is followed by India which constituted approximately 7% of the total cement production. Also, continuous construction activity are expected in the future, which will make positive impact on the concrete fibers market in the upcoming years.

The main hindrance in the concrete fibers market growth is associated with its high cost. Concrete fibers are high cost aggregates which increases the overall cost of fiber reinforced concrete as compared to the conventionally used reinforced concrete (RCC). However, concrete fibers are likely to become affordable in the construction industry owing to its excellent features, which will generate ample opportunities for the market growth in the forecast timeframe.

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Among the application segment, the slab on grade application is projected to occupy over 25% by 2025. This segment includes the industrial flooring operations where the heavy machineries are installed across heavy manufacturing industry such as automobile, textiles, aircrafts, fabrication, foundry, etc. Concrete fibers prevents the cracking of floors due to heavy machinery load. It is followed by the precast application which is likely to grow at a rate of approximately 9% in the forthcoming years.

Among the end-uses, the industrial & commercial infrastructure segment is expected to take over a share more than 35% by 2025. It mainly includes, commercial and industrial structures such as hotels, airports, manufacturing facilities, offices, parking areas, malls, etc. Concrete fibers renders high flexibility and tensile strength to these structure, while reducing the post crack cost by lowering the propensity of cracks in concrete matrix. It thereby leads to enhanced life for these structure, making it more economical in the longer run.

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