Concrete Fibers Market Trends

  • Report ID: 3344
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

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

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.

Base Year

2024

Forecast Year

2025-2037

CAGR

8.4%

Base Year Market Size (2024)

USD 2.36 billion

Forecast Year Market Size (2037)

USD 6.8 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)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 3344
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of concrete fibers is assessed at USD 2.52 billion.

The concrete fibers market size was valued at USD 2.36 billion in 2024 and is likely to reach USD 6.8 billion by the end of 2037, registering around 8.4% CAGR during the forecast period i.e., between 2025-2037. Growing demand for minerals and rising government regulation and standards will drive the market growth.

Asia Pacific is predicted to account for the largest share of 55.7% by 2037, impelled by increase in transportation sector in the region.

The major players in the market include Cemex, Nycon Corporation, Owens Corning, BarChip Pty Ltd., ABC Polymer Industries.
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