Growing Applications Due To The Population And Urbanization Drive The Global Market Growth Of Concrete Reinforcing Fiber

Author : Acumen Research and Consulting

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:

  • Since 2017 because of the growing remodeling and renovation activities, residential and commercial development in U.S. has seen a huge development. Expanded construction development of single homes is probably going to rise as one of the essential components fuelling the need for fiber strengthened cement and this advancing the growth of this market.
  • High inflow of private funding in the development business in 2018 combined with expanding number of construction ventures is relied upon to show an uplifting standpoint for the market in North America. The regional industrial sector is foreseen to observe huge development throughout the following seven years inferable from the rising GDP, prompting market development.
  • Due to the delayed drop in oil costs which has limited development of development division in the course of the most recent couple of years, Middle East and Africa is expected to observe slow extend at a CAGR of 3.2% in terms of revenue.
  • Some of the major players of the concrete reinforcing fiber market are BASF SE, The Euclid Chemical Company, SIKA AG, Nycon Corporation, W.R. Grace & Co., Cemex, ABC Polymer Industries, Bekaert SA, Fibercon International Inc., andPropex Global among others.

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