15-Jan-2020: 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.
In
depth research report on Concrete Reinforcing Fiber Market
Further key findings from the report suggest:
·
Steel accounted for 41.3% market share in terms of volume in
2017 owing to the increasing demand in replacement of traditional steel
reinforced concrete in crack prone structures, such as canals, dams, and water
storage tanks
·
Basalt fiber is expected to register a CAGR of 7.4% from 2018
to 2025, on account of properties of the product, such as high damping and
radio transparency
·
Consumption of the product in infrastructure construction is
expected to witness a CAGR of 5.9% in terms of revenue, from 2018 to 2025 due
to increasing government spending on urban planning and management
·
Asia Pacific accounted for 33.8% of the global revenue in
2017 owing to heavy investments in railway, highway, and road infrastructure
expansion and residential construction by governments
·
Major players operating in the concrete reinforcing fiber
market focus on integration to engage in the production of raw materials
including synthetic materials and fibers obtain a competitive edge
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)
·
Polyethylene
·
Polypropylene
·
Steel
·
Basalt
·
Others
Concrete Reinforcing Fiber Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Infrastructure
·
Residential & Commercial
·
Industrial
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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