Concrete Fibers Market Trends

Growth Drivers

Growing Demand for Minerals –The increased usage of concrete fibers in underground mining and tunnel applications for improving concrete strength and durability. Also, the growing demand for minerals and metals has rushed the mining activities where concrete fiber is extensively used in order to resist crack development in concrete structures.By 2040, the global demand for minerals will increase by over 450%.
Rising Government Regulation and Standards- The government in a few regions may enforce stringent regulations for the usage of reinforced concrete in several construction projects.

Challenges

Higher Cost – Costs associated with concrete fibers are much higher, since it is more expensive to add 1 1/2 pounds of polypropylene fibers to concrete fibers, costing an additional USD 7 or USD 8 per cubic yard. Also, contrary to the production of plain cement concrete, the mixing, and incorporation of fibers into the cement matrix requires more money and work. This factor may hinder the market growth of concrete fibers.
Risk of Corrosion in Steel Type Fibers
Environmental Degradation

Concrete Fibers Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	8.5%
Base Year Market Size (2023)	USD 2.17 Billion
Forecast Year Market Size (2036)	USD 6.27 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of concrete fibers is estimated at USD 2.34 Billion.

The concrete fibers market size was over USD 2.17 Billion in 2023 and is set to cross USD 6.27 Billion by the end of 2036, growing at more than 8.5% CAGR during the forecast period i.e., between 2024-2036. Growing demand for minerals and rising government regulation and standards are driving the market growth.

Asia Pacific is predicted to account for the largest share of 55.7% by 2036, impelled by increase in transportation sector in the region.

Cemex, Nycon Corporation, Owens Corning, BarChip Pty Ltd., ABC Polymer Industries

Concrete Fibers Market Trends