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CHEMICALS AND ADVANCED MATERIALS

Concrete Fibers Market Segmentation by Type (Natural Fiber, Synthetic Fiber, Steel Fiber, Glass Fiber, and Others); by Application (Construction, Transportation Infrastructure, Mining, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • December, 2021: Sika AG to join with CiDRA Concrete Systems Inc. to expand its business in Canada and the U.S. This venture will provide constructors real-time information about construction materials.

Global Concrete Fibers Market Highlights over 2022-2030

The global concrete fibers market is estimated to experience a CAGR of ~8% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the improving standards of construction, especially in developed and developing nations. Concrete fibers are mainly used to fill cracks in concrete, cover up crevices, and other shortcomings in the building during construction, which cannot be achieved be concrete itself. Fixing cracks in roads and bridges is one of the primary applications of concrete fibers. Moreover, advantages of concrete fiber, such as, high stability, physical durability, and heat resistance, as opposed to traditional concrete, are estimated to boost the market growth. Construction industry values over USD 10 trillion, forming a major part of the global economy, which is also expected to fuel the market growth.

Global Concrete Fibers Market

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The global concrete fibers market is segmented by type into natural fiber, synthetic fiber, steel fiber, glass fiber and others, out of which, the steel fiber segment is anticipated to hold the notable share in the market during the forecast period on account of its high strength and easy availability in the market. Steel fibers are highly used in construction of transportation infrastructure, as it is tensile and malleable, which provides strength to the road and brides. On the basis of application, the market is segmented into construction, transportation infrastructure, mining, and others, out of which, the transportation infrastructure segment is anticipated to hold the largest market share, owing to the improving construction standards for public places by the government to curb accidents. 

Major Macro-Economic Indicators Impacting the Market Growth

Refinery-Catalyst-Market

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Concrete Fibers Market Regional Synopsis

Regionally, the global concrete fibers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of constantly growing construction industry in the developed countries, such as, Canada, and United States, coupled with rising urban population. As of 2020, the construction industry holds over 4% of the GDP in the U.S., which is one of the largest in the world. Moreover, increasing urbanization, backed by migration to urban areas, is projected to increase the demand for construction activities, which in turn, is estimated to boost the market growth. As per the data by the World Bank, 82.36% of the total population of North America lives in urban settlements. Similarly, the market in the Europe region is estimated to gain significant share over the forecast period owing to the developing infrastructure in the region.

The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on the back of increasing government initiatives to provide housing facilities to the growing population in several countries, such as, Japan, Singapore, China, India, and Hong Kong. Moreover, development of roadways in these countries, along with the overall economic development is estimated to boost the market growth.

Concrete Fibers Market

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The global concrete fibers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global concrete fibers market includes the following segments:

By Type

  • Natural Fiber
  • Synthetic Fiber
  • Steel Fiber
  • Glass Fiber
  • Others

By Application

  • Construction
  • Transportation Infrastructure
  • Mining
  • Others

Growth Drivers

  • Rising Construction Activities Globally
  • Improving Construction Standards for Roadways

Challenges

  • Lack of Awareness and Carelessness amongst Construction Workers

Top Featured Companies Dominating the Market

  • BASF SE
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Sika AG
  • Propex Operating Company, LLC
  • Bekaert
  • ABC Polymer Industries, LLC
  • Owens Corning
  • Fibercon International Inc.
  • GCP Applied Technologies Inc.
  • Nycon
  • Synthetic Resources, Inc.

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