SAN FRANCISCO, Aug. 7, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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
Read 181 page research report with TOC on "Concrete Reinforcing Fiber Market Size, Share & Trends Analysis Report By Product (PE, PP, Steel, Basalt), Application (Infrastructure, Residential & Commercial, Industrial), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/concrete-reinforcing-fiber-market
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.
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)
- Concrete Reinforcing Fiber Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Residential & Commercial
- Concrete Reinforcing Fiber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
Find more research reports onSpecialty Glass, Ceramic & Fiber Industry, by Grand View Research:
- Lyocell Fiber Market – The lyocell fiber market is expected to register notable gains on account of the widening application scope due to its superior orientation, long fiber lengths, and high degree of orientation.
- Glass Fiber Market – Glass fibers are thin strands of silica based or other glass that is extruded into fibers which can be further processed based on applications.
- Building & Construction Glass Market – The global building & construction glass market is expected to witness considerable growth over the forecast period on account of development of green buildings and rising awareness regarding energy efficiency.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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