The global concrete fibers market is projected to expand at a CAGR of 6.2% in the forecast period, from 2018 to 2026, states a study by Transparency Market Research (TMR). The market expansion is likely to be influenced by increase in the number of building and construction projects around the world.
Concrete fibers are being adopted across a wide range of industries owing to several benefits they offer, including physical durability, heat resistance, and high stability. Expanding application of concentrate fibers across transportation infrastructure, building construction, industrial flooring, mining, dams, and sewage pipes is resulting into sizeable business prospects in the global concrete fibers market.
The research report by TMR delivers inclusive information and analysis of key facets such as growth drivers, challenges, restraints, competition landscape, and ongoing RD projects in the concrete fibers market. Moreover, it also sheds light on regional aspects of the market for concrete fibers. Thus, the study helps companies in making informed decisions, and thereby expand their businesses.
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Increase in Global Urbanization: Key Factor Driving Sales in Market
With the growing number of people moving to urban areas, there is sizable growth in the need for new construction activities across the globe. Moreover, companies involved in the construction industry are increasing focus on incorporation of advanced practices in their projects. This factor is resulting into rise in use of concrete fibers in the construction industry, which in turn, is creating value-grab prospects for companies in the global concrete fibers market.
Reinforced concrete is being publicized for its wide range of advantages such as easy availability of raw materials, cost-effectiveness, improved weather fire resistance, and superior compressive strength in comparison to wood. Owing to all these aspects, the companies in the global concrete fibers market are expected to gain notable demand for reinforced concrete.
High Level of Competition Encourages Enterprises to Strategize Moves in Order to Expand Business
Some of the key players working in the global concrete fibers market include BASF SE, Sika Group, GCP Applied Technologies Inc., Bekaert, ABC Polymer Industries, LLC, Owens Corning, Fibercon International Inc., Synthetic Resources, and Nycon Corporation.
Companies in the global concrete fibers market experience high level of competition owing to presence of many bigger brands. Moreover, the nature of the market for concrete fibers seems to be consolidated. As a result, players are executing different organic and inorganic strategies to stay ahead in the competition. Mergers, acquisitions, collaborations, partnerships, and new product launches are some of the prominent strategies used by companies in the market.
North America: Lucrative Region for Players in Concrete Fibers Market
Europe, North America, Latin America, Middle East Africa, and Asia Pacific are prominent regions in which players in the global concrete fibers market observe substantial business opportunities. Of all regions, North America is dominant region in the global concrete fibers market, due to increase in the use of synthetic and steel fibers in a wide range of applications including tunnels, building, dams, and bridges, specifically, in the U.S.
Following North America, businesses from the concrete fibers market are estimated to gain notable sales prospects in Asia Pacific. The region is a prime concrete fibers consumer and likely to gain significant expansion in the demand for concrete fibers from the regional building construction and transportation industries.
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Global Concrete Fibers Market Segmentation
The analysts of a report by TMR have segmented the global concrete fibers market based on several crucial aspects including product, application, and region. Based on product, the market for concrete fibers is classified into glass fibers, synthetic fibers, steel fibers, blended fibers, animal origin fibers, basalt fibers, and cellulose fibers.
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