The concrete fiber market is expected to experience significant growth, with sales revenue projected to increase from USD 2,177 million in 2024 to USD 5,518 million by 2034, registering a CAGR of 9.7%.
| Attributes | Details |
|---|---|
| Industry Size, 2024 | USD 2,177 million |
| Industry Size, 2034 | USD 5,518 million |
| Value CAGR (2024 to 2034) | 9.7% |
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An upsurge in infrastructure development is presumed to drive the demand for concrete fibers in both developing and emerging countries. As the need for modernization grows, countries have been actively undertaking road, bridge, and other infrastructure projects in recent years. Moreover, these fibers have emerged as an ideal choice for project developers nowadays due to their durability and greater strength.
Technological advancements are anticipated to hold a substantial industry share during the forecast period. Manufacturers are actively developing ideal products that provide better quality and can satisfy customers, creating better opportunities for developers.
Production cost of these fibers is expected to be a significant industry barrier in the coming years due to fluctuating costs of raw materials such as steel, polypropylene, and glass. Moreover, countries with low-budget construction projects may find it challenging to afford concrete fibers, which can be expensive.
Compatibility is anticipated to become a major concern for the industry. Sometimes, these fibers may negatively affect the performance of other admixtures or additives, resulting in a reduction in durability and strength. Therefore, testing the compatibility of concrete fibers becomes essential when selecting them.
| Attributes | Details |
|---|---|
| By Product | Synthetic Fiber |
| Industry share in 2024 | 36.2% |
Increased demand for concrete fiber from end-use industries such as building and construction, logistics infrastructure, and others drives up the demand for the synthetic fiber segment. Moreover, its better and superior properties, such as lightweight and easy installation, make it ideal for consumers in the current era.
| Attributes | Details |
|---|---|
| By End Use | Industrial & Commercial Infrastructure |
| Industry CAGR from 2024 to 2034 | 33.8% |
The need to enhance the durability and strength of concrete has led to the increasing traction of concrete fiber in industrial and commercial infrastructures. With the rapid expansion of urbanization in developed countries, these fibers are emerging as an ideal option for developers to build robust infrastructure nowadays.
Increased sustainable construction practices are also contributing to the segment's growth, as these fiber reduces the amount of actual concrete required in construction.
The forecast table below indicates significant potential for the concrete fiber sector in major countries. Asia Pacific is emerging as a prominent global sector, with India leading in sales. Germany and the United States are also experiencing a gradual increase in demand.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United states | 5.5% |
| Germany | 4.6% |
| United Kingdom | 3.8% |
| India | 14.5% |
| China | 10.9% |
The upcoming years hold great promise for the concrete fiber market in the United States, with an expected CAGR of 5.5%.
The rapid expansion of the construction is anticipated to drive demand in the country. Commercial construction activities have been seen in the United States. Also, as construction activities expand, construction fiber companies are seeking greater revenues in the country.
The residential construction cost is increasing heavily in the country. For instance, during the second quarter of 2023, housing construction costs were raised to their highest in major cities such as New York, San Francisco, and Honolulu in the United States. On the other hand, cities such as Phoenix have seen lower construction costs, particularly for large houses, which cost around USD 218 per square foot.
Germany is anticipated to demonstrate impressive growth potential in the concrete fiber market, with a projected CAGR of 4.6% by 2034.
Growing activities like the development of metro tunnels, mining, and airports hold substantial industry potential in recent years in Germany. For the development of these sites, these fibers were extensively used as an ideal solution for improving strength, durability, and shock resistance in the region. Also, government initiatives for research and development on using materials such as carbon fiber and fiber-reinforced concrete are contributing to industry growth.
Manufacturers are joining different types of governmental programs. For instance, Karl Mayer Technische Textilien is currently working on a building research project in Germany, which the Federal Ministry of Education and Research funds. The primary goal of the project is to develop a new composite material by combining high-performance concrete with a carbon-fiber reinforcing material.
The United Kingdom concrete fiber market is expected to exhibit noteworthy growth potential, with a projected CAGR of 3.8% for the forecast period.
Manufacturers are developing and offering a wide range of concrete fibers in the United Kingdom nowadays. For example, the Forta Corporation in the United Kingdom offers a different types of concrete fiber products for various applications.
Also, the company has been operating in the United Kingdom for over 20 years and has built a strong reputation for quality and reliability. Forta Corporation's products are used in numerous projects, including roads, bridges, tunnels, airports, and buildings.
India is set to advance at an astounding CAGR of 14.5% for the entire forecast period in the concrete fiber market. Infrastructural developments in the country have led to the increasing use of concrete in underwater structures, driving demand for these fibers.
Increase in construction of marine structures, such as bridges and tunnels, in India is expected to further boost the industry's expansion. According to sources, the underground railway tunnel made in Rishikesh, India, is made up of concrete fiber, which indicates that this material is employed in the construction of tunnels in the country.
China is expected to flow with a remarkable CAGR of 10.9% in the concrete fiber market. With its vast population and rapidly expanding middle class, the country holds immense potential for the industry
Manufacturers in China are actively developing innovative product lines that meet consumer demand. They are mainly focusing on enhancing the strength of the product and the durability of these fibers to increase consumer demand in the region. By offering a wide range of products, such as ultra-high-performance concrete products, manufacturers are anticipated to gain a substantial industry share during the forecast period.
The concrete fiber market is highly competitive with the presence of many players vying for a greater share in the industry. Considering the latest advancements key players are developing product lines that can compel with latest materials without fail. Also, stakeholders are heavily investing in branding and building partnerships with construction companies which results in higher sales and profit margins.
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| Attribute | Details |
|---|---|
| Estimated Industry Size (2024) | USD 2,177 million |
| Projected Industry Size (2034) | USD 5,518 million |
| Anticipated Growth Rate (2024 to 2034) | 9.7% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Sector Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product, By Application, By End Use |
| Key Companies Profiled |
BASF SE; Sika AG; Owens Corning; GCP Applied Technologies Inc.; The Euclid Chemical Company; CEMEX S.A.B. de C.V.; Fibercon International Inc.; Bekaert SA; ABC Polymer Industries LLC; Nycon Corporation. |
| Report Coverage | Sector Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Sector Dynamics and Challenges, and Strategic Growth Initiatives |
Depending on the product type, the industry is categorized into steel fiber, synthetic fiber, glass fiber, natural fibers, and basalt fibers. The synthetic fiber category is further divided into polypropylene, nylon, polyester, and other synthetic fibers.
Concrete fiber is applied for making pavement, shotcrete, precast, slabs on grade, composite metal decks, and other applications
Key end-use industries of concrete fiber include residential, industrial & commercial infrastructure, roads & bridges, and others.
A regional examination is conducted of the industry in North America, Latin America, Europe, South Asia, East Asia, Oceania, as well as Middle East and Africa.
The industry size is expected to be worth USD 2,177 million in 2024.
The industry is expected to register at a CAGR of 9.7% through 2034.
The CAGR of the industry in the United States is estimated to be 5.5% through 2034.
The CAGR of the industry in Germany is estimated to be 4.6% through 2034.
The industry is estimated to get as big as USD 5,518 million by 2034.
| Estimated Market Size (2024E) | USD 2259.6 million |
|---|---|
| Projected Market Value (2034F) | USD 6767.3 million |
| Value-based CAGR (2024 to 2034) | 11.6% |
| Market Value in 2023 | USD 16,042.3 million |
|---|---|
| Projected Market Revenue (2033) | USD 34,283.7 million |
| Value-based Market CAGR (2023 to 2033) | 7.9% |
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Concrete Fiber Market
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