The global concrete reinforcing fiber market size is expected to reach USD 3.21 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.8% during the forecast period. Increasing demand for lightweight non-corrosive materials from construction industry is expected to drive growth in the forthcoming years.
The advantages offered by the reinforcing fibers in concrete includes widening of joint spacing and reduction in slab thickness. In addition, they also reduce the spalling at joint edges and save the overall development and maintenance cost. These benefits are expected to augment the demand for the product from heavy load operating structures, such as runways, aircraft, and warehouses.
Rising utilization of high-performance concrete is anticipated to have a positive impact on the growth of the concrete reinforcing fiber market. Increasing substitution of steel fibers with plastic in a bid to decrease the overall structure weight is anticipated to boost the product sales in the forthcoming years.
Market players are actively involved in research and development for the production of fibers for reinforcement purposes. They lay high emphasis on manufacturing advanced reinforcing fiber products with varying sizes and properties. However, fluctuating raw material prices is supposed to be a significant concern for the manufacturers over the forecast period.
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Further key findings from the report suggest:
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Grand View Research has segmented the global concrete reinforcing fiber market on the basis of product, application, and region:
Concrete Reinforcing Fiber Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Concrete Reinforcing Fiber Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Concrete Reinforcing Fiber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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