According to the research report titled ‘Concrete Fiber Market Size By Product, By Application (Pavement, Shotcrete, Precast, Slabs On Grade, Composite Metal Decks), By End-user, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global concrete fiber market is projected to accumulate USD 2.8 billion by the year 2025.
 

Growing industrialization, leading rapid urbanization and increased construction activities, especially in Asia Pacific region are spurring the growth of global concrete fiber market. According to the International Energy Agency, in 2018, China accounted for around 60% of the global cement production, being the top producer in the world, followed by India that contributed about 7% of the overall cement production.
 

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For the record, concrete fibers are mainly used to control cracking that is caused by drying shrinkage and plastic shrinkage, and to increase resiliency of walls against cracks.
 

Though, advancements in the field like development of concrete microfibers will pose as lucrative growth prospect, high cost of product will hamper the industry share over the forecast period.
 

Based on product terrain, synthetic fibers segment is expected to grab 65% share in global concrete fiber market by year 2025, growing at a CAGR of 8.5% over the forecast period, followed by steel fibers segment. Technological developments related to steel fibers has led to the evolution of rust resistant fibers which can be used as an alternative for traditional steel mesh/rebar in the construction industry, thereby boosting segmental share.
 

Speaking of application range, slab on grade segment is poised to account for 25% market share by 2025. The application involves industrial flooring operations where the heavy machineries are installed across industries like automobile, aircrafts, textiles, fabrication, etc. The concrete fibers prevent the floors from cracking due to the load of the heavy machinery. Meanwhile, precast segment is reckoned to grow at 9% CAGR over the forecast period.
 

Moving on to end-user spectrum, global concrete fiber industry share from industrial & commercial infrastructure segment is predicted to reach 35% by 2025. Concrete fibers provide high tensile strength and flexibility to the industrial and commercial structures like hotels, offices, malls, airports, manufacturing facilities etc. It minimizes the propensity of cracks, thereby proving to be more economical in long run.
 

Regionally, the report cites that Asia Pacific is likely to hold 25% share in worldwide concrete fiber market by the end of forecast period, owing to increased industrialization, thriving residential and industrial construction activities, along with booming population.
 

Key contenders in worldwide concrete fiber industry sphere are Technobasalt-Invest LLC, Hunan Sunshine Steel Fiber Co. Ltd, SRW Products, Fibercon International Inc., Nycon Corp., FORTA Corp., GCP Applied Technologies Inc., ArcelorMittal S.A., CEMEX S.A.B. de C.V., Owens Corning, ABC Polymer Industries LLC, Euclid Chemical Company, N.V. Bekaert S.A., ABC Polymer Industries LLC, BASF SE, and Sika AG.