Concrete Reinforcing Fiber Market Size, Share, and COVID-19 Impact Analysis, By Fiber Type (Polymers, Steel, Glass, and Others), By End-use Industry (Building & Construction, Transportation Infrastructure, Mining & Tunnel, Industrial Flooring, and Others), and Regional Forecast, 2024-2032

Usage of concrete has grown over time as technology has grown and the construction industry's demand for less expensive yet stronger materials continues to grow. The addition of various types of reinforcing to concrete is a key development that has substantially enhanced its strength. Fiber reinforced concrete is one of the more recently investigated varieties of concrete, and it has been shown to have a number of advantages. Concrete reinforcing fiber is primarily driven by the growing demand from the building & construction sector for various applications, including road and infrastructure development, flooring applications, and others.

The concrete reinforcing fiber market is also driven by superior properties provided by fiber reinforced concrete such as high durability, improved load capacity, and high resistivity toward abrasion, corrosion, and early age shrinking. Fibers in concrete can help to minimize a construction project's total energy consumption and contribute to sustainable building standards.

• The Grand Egyptian Museum, also known as Giza, was renovated using fiber reinforced concrete, owing to superior properties.

With construction being one of the fastest growing sectors, many governments have developed policies to use sustainable and environment-friendly materials. For instance, implementation of green building policies in various countries is one of the prime factors supporting growth.

• Green Rating for Integrated Habitat Assessment is now the National Rating System of India. Conceived by The Energy and Resources Institute (TERI) and developed jointly with the Ministry of New and Renewable Energy, Government of India, GRIHA is a green building design evaluation system.


• The U.S. Environmental Protection Agency (EPA) announced that 30 small enterprises in the U.S. will receive USD 3,089,894 in funding to develop breakthrough technology to solve serious environmental and public health issues. For their pioneering efforts in sustainable materials management, three New York-based firms will each receive USD 100,000. These businesses are working on technology to extend the shelf life of dairy goods, supply drywall alternatives, and create high-performance, low-carbon concrete using recycled glass.

Impact of COVID-19 on the Concrete Reinforcing Fiber Market

The concrete reinforcing fiber market is expected to experience growth post pandemic, owing to the rebound activities of the construction sector. As major consumption of the concrete reinforcing fiber is used by cement and concrete manufacturers, the capacity expansion of these manufacturers coupled with rising demand for reinforced concrete is set to grow significantly.

Key Insights

The report covers the following key insights:

• Regulatory scenario of concrete reinforcing fiber


• Key development of concrete reinforcing fiber


• Government initiatives to promote concrete reinforcing fiber


• Impact of COVID-19 on the market

Analysis by Fiber Type

The global concrete reinforcing fiber market is segmented into polymers, steel, glass, and others on the basis of fiber type.

• Polymer fibers are generally made of polyurethane, polyester, methyl methacrylate, and others.


• Glass fibers are used in reinforcing concrete. The mix used for manufacturing panels has almost 4-6% of the fiber content.

Regional Analysis

Asia Pacific accounts for the largest concrete reinforcing fiber market share due to increasing demand from the construction sector. Also, China and India contribute heavily to the market in APAC, owing to increasing government initiatives supporting constructional activities.

• According to CLSA (an institutional brokerage and investment group), the Indian cement sector is witnessing improved demand.


• Indian cement industries reported a substantial turnaround in earnings in the second quarter of FY21, with demand for the industry increasing as a result of rural revival. The demand picture remained positive as rural markets normalized. CLSA anticipates a 14% YoY increase in EBITDA in the cement sector for its coverage stocks in FY21.

Key Players Covered

The report includes the profiles of key players such as Ultratech Concrete, BASF SE, CEMEX S.A.B. de C.V., SIKA AG, Owens Corning, ABC Polymer Industries, LLC, the Euclid Chemical Company, and others.

Segmentation

Key Industry Developments

• In August 2021, the MBCC Group agreed to purchase Fabpro Polymers, a leading creator and manufacturer of synthetic fibers for reinforced concrete and other uses in North America. The MBCC Group has agreed to purchase Fabpro Polymers, a leading creator and manufacturer of synthetic fibers for reinforced concrete and other uses in North America.


• In August 2019, Master Builders Solutions launched a new MasterFiber website. MasterFiber portfolio is a lightweight and durable concrete reinforcement portfolio for sustainable construction.


• In November 2018, Sika purchased Propex Holding, LLC's global Concrete Fibers business, which comprises a U.S. plant that manufactures synthetic fibers for use in concrete reinforcement, sales operations across Sika's three geographic zones, and a strong brand. Sika's concrete systems for high-value-added solutions required in the construction of high-rise structures and challenging infrastructure projects will benefit greatly from the acquisition.