The global concrete fiber market revenue was US$ 2.05 billion in 2021. The global concrete fiber market revenue is forecast to reach US$ 4.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.4% during the forecast period from 2022 to 2030.
Concrete Fiber, also called Fiber-reinforced concrete, is concrete containing fibrous materials that make it stronger. Fibers used in concrete control and regulate plastic shrinkage cracking and drying shrinkage cracking. Fiber properties are affected by a number of factors, such as fiber volume, fiber-matrix stiffness, fiber orientation, workability, and compaction.
Factors Influencing Market Growth
In both developed and developing economies, rapid industrialization has propelled the growth of industries that use concrete fiber to enhance the tensile strength of industrial structures. Governments of various countries are continually investing in infrastructure development that uses concrete fiber to redistribute the load, improve tensile strength, and prevent cracking. These factors are likely to increase concrete fiber sales in the building and construction sector, fueling the global market growth.
Compared to non-fiber reinforced concrete, steel-reinforced concrete is prone to corrosion and has a heavier weight. This factor may inhibit global market growth.
Concrete reinforced with synthetic fibers is also suitable for pavement construction and the construction of externally supported slabs. It is a primary factor forecast to generate new opportunities in the global concrete fiber market.
Impact Analysis of COVID-19
The COVID-19 pandemic had negatively impacted the global concrete fiber market. A rise in COVID-19 infections has forced governments to impose strict lockdowns, which has delayed construction projects. During the pandemic, construction & building revenues decreased. The factors mentioned above have indirectly affected the supply and production of concrete fiber used in construction. In addition, a number of concrete fiber manufacturers have closed their doors or reduced their operations, disrupting the supply chain.
The domestic supply chain has enhanced due to emerging geography, and strong public investments are forecast to drive the growth of the concrete fiber market in the coming years.
As of 2020, the Asia-Pacific concrete fiber market accounted for the largest market share and is forecast to grow at the highest CAGR during the forecast period. The increasing industrial, railroad, and building & construction sectors in Asia-Pacific have boosted concrete fiber's performance. Chinese businesses have been utilizing concrete fiber to enhance the tensile strength of industrial structures due to the significant growth in domestic consumption and GDP growth.
The leading prominent companies profiled in the global concrete market are:
ABC Polymer Industries
CEMEX S.A.B. de C.V.
Euclid Chemical Company
FORTA Concrete Fiber
Ozinga Bros. Incorporated
Other Prominent Players
Scope of the Report
The global concrete fiber market segmentation focuses on Fiber Type, Application, and Region.
Segmentation based on Fiber Type
Segmentation based on Application
Ports & Airports
Building & Construction
Mining & Tunnel
Shafts and Tunnel lining
Others (Agriculture and Waterways)
Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America