Global Concrete Fiber Market - 2020-2027
The global concrete fiber market size was worth US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Fiber concrete contains fibrous materials to increase durability, structural integrity, control cracking due to plastic shrinkage and drying shrinkage. The fibers can be flat or circular and often makeup one to three percent of the concrete mix's total volume. Some common fiber material types are steel, synthetic, and natural fibers; these produce more significant impact, abrasion, and shatter resistance in concrete. Fiber concrete has applications in Aircraft Parking, Pavements, Tunnel Lining, Slope Stabilization, Walls, Manholes, Dams & Bridges and underground construction industry, such as tunnel segments where almost all tunnel linings are fiber reinforced.
Fiber concrete can improve tensile strength and control cracking in concrete structures often caused by plastic shrinkage and drying shrinkage. It can also reduce the permeability of concrete, further reducing shrinkage cracking during curing. Some types of fibers are also used to make concrete more abrasion, impact, and shatter-resistant.
The global market growth is driven by expanding concrete fiber usage in residential& non-residential and demand for better quality infrastructure.
The better quality infrastructure is expected to drive the concrete fiber market growth
The concrete fiber market is expected to boost with demand for better quality infrastructure as concrete fiber provide numerous advantages over conventional concretes such as better cohesion in the fresh concrete., higher flexural and shear strengths, improved load capacity and flexibility, increased abrasion resistance, advanced fire resistance and potential to reduce CO2. Majorly, carbon, steel, glass, natural and synthetic fiber are used in different application areas of the building & construction industry. For instance, according to the BCD Network report, 2020, The world's first building made from carbon-fiber reinforced concrete construction was started in Germany, consisting of two parts: precast box and twist, a double-curved roof which lighter-weight and bendable composite facilitates.
The extra cost associated with concrete fibers are expected to hinder the market growth
Concrete fibers cost an extra $7 or $8 per cubic yard to add 1 1/2 pounds of polypropylene fibers to their concrete, making it costlier. Moreover, concrete fibers are about 10% comparatively heavier than non-fiber concrete, fluctuating raw material prices, waste management of synthetic fibers, the danger of corrosion in steel type fibers, some concrete fiber are subjected to creep and shrinkage are some of the factors responsible for market growth.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the concrete fiber market have seen a notable impact as all the manufacturing industries were closed. As the concrete fiber market is dependent on residential, industrial construction, it resulted in reduced concrete fiber demand. According to the KPMG report, during the pandemic construction sector faced daily loss of Rs 30,000 crore and investments in projects fall 13-30%, which is likely to impact the concrete fiber market.
On the other hand, all the existing construction activities are expected to boost after the pandemic and all the losses are expected to recover by 2022.
By type, the concrete fiber market is broadly classified as steel type, plastic type, carbon type, glass type, natural fiber, cellulose fiber, polypropylene fiber, blends of fiber and others.
The steel fiber segment is expected to grow at the fastest CAGR during the forecast period (2020-2027)
The steel fiber type holds the largest market for concrete fibers in terms of revenue due to the following advantages: increased load-bearing capacity, Reduction of concrete slab thickness, Increased durability, Low maintenance costs, improved flexural properties and reduced absorption of water, chemicals, etc.
The expanding use of steel type fiber concrete in overlays of road payments, shells, plates and bridge decks and Airfield payments with improved flexural, impact, and fatigue property of concrete is expected to boost the demand for steel type fiber concrete in the future. For instance, N.V. Bekaert S.A. steel type concrete fiber was used in Liefkenshoektunnel underwater concrete project. Leading companies globally are coming up with new product launches to carter the industries demand such as "Dramix glued steel fiber" the fiber structure is in the bunch, so the detachment and dispersion are in a regulated manner avoiding ballooning of fibers providing high strength concrete up to M60 grade, it is used in tunnel lining for protection against fire hazard in the tunnels.
Europe market segment is expected to grow at the fastest CAGR during the forecast period (2020-2027)
North America dominates the concrete fiber market and is expected to grow during the forecast period due to the rapid acceleration in construction activities. For example, the 2nd Avenue Subway Tunnel built in New York City used concrete fiber mix that included 650 pounds of cement per cubic yard, 150 pounds of fly ash, 3/4-inch aggregate, a high-range water reducer, 30 pounds of steel fiber, and 1.75 pounds of polypropylene fiber. The estimated final cost of $17 billion will make it the nation's largest public works project.
Moreover, according to Industry Analysis, U.S accounted for revenue of 580 billion U.S. dollars in 2019, with top mining companies being Newmont Goldcorp and Southern Copper, further expansion in underground mining is expected to boost the demand for concrete fiber market in the sector. The concrete fiber in underground mining operations is used to make working faces and walls stable. Spray concrete is used in mining to create a semi-stiff immediate lining on an excavated rock surface to provide high ductility and toughness to absorb and block rock movement and can be reinforced with fibers. Some of the concrete fibers used in mining are Dramix 3D Steel fibers and Synmix Macro-synthetic fibers.
The concrete fiber market is consolidated and moderately competitive with local players, followed by global companies contributing to its significant share. Some of the key players contributing to the market's growth are Primekss, Sika Group, PPG Industries, BASF SA, DuPont de Nemours Inc., Etex Group, Bekaert Corporation, GCP Applied Technologies, Owens Corning, Euclid Chemical, ABC Polymer Industries and others. The major players are adopting various new strategies to dominate the market, such as launching new products, collaborations, and acquisitions. These are critical factors responsible for the concrete fiber market growth globally.
Overview: Primekss was founded in 1997 is a leading provider of concrete products, concrete systems and design floors for logistic centers, warehouses, civil engineering buildings and windmills and other structures. The company has direct subsidiaries in 10 countries and partners worldwide.
Product Portfolio: The Company is engaged in manufacturing concrete and flooring products such as jointless concrete floor on the ground, jointless concrete floor on piles, raft foundations, concrete overlay, concrete outdoor pavements, traditional concrete systems, primx structural concrete works, primx-filigran system and various others.
Key Development: In 2020, the company launched a new anchor named Hilti Screw anchor for Primx, which is specially designed for zero shrinkage steel fiber reinforced concrete technology, the new product will provide quicker and more reliable installation.
The global concrete fiber market report would provide access to an approx: 61 market data table, 63 figures and 240 pages.
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