Rising Investment in Infrastructure Projects is Driving the Global Concrete Reinforcing Fiber Market

The global concrete reinforcing fiber market is estimated to grow at a CAGR of 4.8% during the forecast period. Growing investment in infrastructure projects is a key factor accelerating market growth. The rising urbanization and increasing tourism have been leading the investment in infrastructure projects, which in turn, is contributing to the growth of the market. As per the India Brand Equity Foundation (IBEF), India is anticipated to become the third-largest construction market across the globe by 2022. The country plans to invest $1.4 trillion in infrastructure projects with the National Infrastructure Pipeline (NIP), during the period, 2019 to 2023, to ensure sustainable development in India. 

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This leads to increasing demand for the concrete reinforcing fiber that minimizes crack widths and formation of shrinkage crack whilst augmenting performance in fire resistance and energy absorption. Other benefits of using concrete reinforcing fiber include elimination or reduction of reinforcing steel and augmented durability. Concrete reinforcing fiber starts to act in a structural supportive manner when the concrete matrix commenced cracking. These fibers offer support and ductility by bridging cracks and thereby offering post crack strength to the concrete.

Scope of the Global Concrete Reinforcing Fiber Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Type and Application
• Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
• Competitive Landscape- Sika AG, BASF SE, Owens Corning, N.V. Bekaert S.A., and GCP Applied Technologies Inc.

Recent Strategic Initiatives in the Global Concrete Reinforcing Fiber Market

• In August 2019, The Master Builders Solutions experts introduced their new website www.masterfiber.basf.com which is offering the advantages of MasterFiber and the unique customer service provided by a global team of concrete experts. It is an excellent innovation that is gaining interest among its customers. Multiple references in various European countries have already demonstrated the sustainability benefits of MasterFiber. The Master Builders Solutions experts are encouraging the renovation of the port of Barcelona with MasterFiber 249. With polypropylene fibers, 60.000 m2 of pavement will be optimized for improvement of the chloride resistance and durability of the area.
• In November 2018, Sika AG acquired the global Concrete Fibers business from Propex Holding, LLC. Propex concrete fibers business complements Sika’s concrete admixture product range. By adding Fibermesh, Enduro, Novomesh, and Novocan to Sika’s product portfolio, Sika can potentially serve the requirements of concrete customers, owners, engineers, architects, and general contractors.

Key questions addressed by the report

• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Concrete Reinforcing Fiber Market-Segmentation

By Type

• Steel Fiber
• Synthetic Fiber
• Natural Fiber
• Glass Fiber
• Others

By Application

• Infrastructure
• Residential and Commercial
• Industrial

Global Concrete Reinforcing Fiber Market– Segment by Region 

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

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