With the emergence and long-term Impact of COVID-19, Global Concrete Reinforcing Fiber Market to reach USD 3.96 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global points towards a potential rise to USD 3.96 billion by 2030. Concrete reinforcing fibers are materials added to concrete mixes to enhance their structural properties. These fibers, made from materials such as steel, glass, synthetics, or natural sources, improve tensile strength and durability. Steel fibers enhance tensile strength, glass fibers resist corrosion, synthetic fibers control cracking, and natural fibers offer environmental benefits. The addition of these fibers results in concrete with increased strength, durability, and resistance to cracking, making it suitable for diverse construction applications.
The Concrete Reinforcing Fiber Market is expanding because of factors such as the upsurge in demand for non-corrosive materials, increasing requirements for high-performance concrete, rising public investment in infrastructure construction and stringent regulatory emphasis on construction standards. The surge in population, rapid urbanization, and industrialization in emerging economies, fueled by increased construction spending, are significant contributors to the expanding global construction industry, which is accelerating market growth across the globe.
Geographically, the global Concrete Reinforcing Fiber market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the rising number of construction activities, increasing utilization of concrete in underwater structures for infrastructure projects, and rapid increase in transportation sectors. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rise in infrastructure development, the growing trend of urbanization, and the increase in industrial activities are significantly propelling the market demand across the region.
The global Concrete Reinforcing Fiber market is highly competitive owing to the presence of several key players such as BASF SE Bekaert CEMEX S.A.B. de C.V. Sika AG ABC Polymer Industries, LLC Nycon Corporation Ultratech Cement Ltd. Owens Corning FORTA Corporation The Euclid Chemical Company, and others.
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Key findings of the study suggest:
- Global Concrete Reinforcing Fiber Market is anticipated to grow with a healthy growth rate of more than 6.8% over the forecast period 2023-2030.
- In the Product segment, Steel emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising number of construction activities in the region.
- Asia Pacific is expected to grow at higher rate owing to growing trend of urbanization in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Product:
- Polyethylene
- Polypropylene
- Steel
- Basalt
- Others
By Application:
- Infrastructure
- Building & Construction
- Industrial
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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