The global concrete reinforcing fiber market is segmented into product, application, and region. Product based segmentation of the global concrete reinforcing fiber market can be done into polyethylene, polypropylene, steel, basalt, and others. The global concrete reinforcing fiber market is sub- segmented into infrastructure, residential & commercial and industrial on the basis of application based segmentation. On the basis of region the global concrete reinforcing fiber market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
The global concrete reinforcing fiber market is expected to drive at a relentless pace owing to the expanding public investment in infrastructure development combined with developing need for off-site development. The worldwide development of the market is further being supported by the rising populace combined with quick urbanization and industrialization. One of the rising trends being observed in the market is the improvement of advanced polyethylene fortifying fiber that give better advantages thought about than the steel and polypropylene products.
It is expected that the global concrete reinforcing fiber market will grow at a CAGR of 6.2%, reaching a considerable market size of USD 4.2 billion by the year 2026.
However, the key raw materials utilized for assembling the product implied for different construction applications are Polypropylene (PP) and Polyethylene (PE). They are obtained from raw petroleum which means that vacillations in raw petroleum costs are might influence raw material costs, subsequently affecting the general expense of fiber strengthened concrete and hampering industry development.
Here are some more points to explain about the global concrete reinforcing fiber market:
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