Pune, India, June 26, 2023 (GLOBE NEWSWIRE) -- The global concrete fiber market size is predicted to elevate from 2023 to 2030. High demand for concrete fiber market share is said to increase post-COVID-19. It is mainly used in the construction and building industry, so an increase in demand is expected to grow after the pandemic. Nowadays, concrete reinforcing has plenty of varieties, some of which are blended & steel fibers and micro & macro synthetic fibers.
Fortune Business Insights provides this information in its report "Concrete Fiber Market, 2023-2030.”
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List of Key Players Mentioned in the Concrete Fiber Market Report:
- Ultratech Concrete
- BASF SE
- CEMEX S.A.B. de C.V.,
- SIKA AG
- Owens Corning
- ABC Polymers Industries LLC.
- The Euclid Chemical Company
Competitive Landscape:
Partnership Among Companies to Secure Their Brand Values in the Market
Players in the market have launched new techniques to boost market growth with their solutions and elevate the competition in the market. Companies have been applying for various programs, such as partnerships and mergers, to support their position in the market.
Report Coverage:
This report covers the synopsis of this market that provides the analysis of the product, impact of COVID-19, segmentation, drivers and restraints, regional insights, new growth, and presence of key players in the market. An in-depth analysis of upcoming opportunities, threats, and driving factors is also mentioned in the report.
The report includes the market dynamics, market opportunities, industry challenges, and regulatory landscape. The report would also provide insights into the latest technological advancements and innovations in the concrete fiber market. The report would provide an overview of the market size in terms of value and volume and provide a forecast for the market growth during the forecast period. The report would also provide insights into the market trends and drivers that are expected to shape the market growth in the coming years.
COVID-19 Impacts:
The shutdown of Manufacturing Facilities to Hinder Market Growth
Due to a decrease in cement and concrete demand, the companies shut down manufacturing. But, post-COVID-19, the order is increasing from the construction industry for cement and concrete to increase production. The shutdown of manufacturing of the product got disturbed due to the lower demand for the product. Construction yield has fallen due to the stringent lockdown and pandemic.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/concrete-reinforcing-fiber-market-106752
Segmentation:
By Fiber Type
- Polymers
- Steel
- Glass
- Others
By End-use Industry
- Building & Construction
- Transportation Infrastructure
- Mining & Tunnel
- Industrial Flooring
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Rest of the World
Drivers and Restraints:
Increasing Demand for Concrete fiber to Inflate Market Growth
The key driver for the market is the increasing demand for cement as it possesses superior properties such as durability, improved load capacity, high resistance towards corrosion, and so on. Fibers in concrete help to reduce the total energy consumption of a construction project—growing demand for various steel fibers in multiple applications. The housing market is directly linked to the health of the economy. The need for concrete reinforcing fiber is increasing because of the challenging environmental issues.
In the end-user industry, the concrete reinforcing industry is used in various industries such as mining and transport, industrial flooring, and construction. The product's demand is increasing due to the high adoption level as it helps in earthquake-prone areas and benefits in the reduction of human casualties.
The given factors are expected to drive the concrete reinforcing fiber market growth during the forecast period. The price of crude oil has increased, and because of the fluctuation in the price rates and all the uncertainty has led to one of the restraining factors of the market.
Regional Insights:
Asia Pacific Holds Largest Share to Propel Industry Growth
Asia Pacific holds the largest concrete reinforcing market share due to increased cement demand from the construction industry. India and China also contribute significantly to the market because of the increasing constructional activities as the surging government initiatives.
North America is expected to witness significant growth, owing to the increasing demand for Concrete reinforcing fiber in the construction of residential and commercial buildings. The growing trend of sustainable construction and the increasing investments in infrastructure projects are also driving the demand for concrete fibers in the region.
Europe is also expected to witness significant growth, owing to the increasing adoption of concrete fibers in the construction of infrastructure projects such as roads, bridges, and tunnels. The growing focus on sustainable construction and the increasing investments in the renovation of old buildings are also driving the demand in the region.
The Middle East & Africa region is expected to witness significant growth, owing to the increasing investments in infrastructure development projects such as airports, seaports, and transportation systems. The growing demand for affordable housing in countries such as Saudi Arabia, the UAE, and Egypt is also driving the demand in the region.
Latin American market is expected to witness moderate growth, owing to the increasing investments in infrastructure projects and the growing demand for residential and commercial buildings in countries such as Brazil, Mexico, and Argentina. The growing trend of sustainable construction and the increasing adoption of new building materials are also driving the demand in the region.
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