Concrete Fiber Market worth 3.09 Billion USD by 2021 | Key Players include Bekaert SA, Propex Operating Company LLC, ABC Polymer Industries, Cemex, BASF SE, Sika AG

According to recent research "Concrete Fiber Market by Type (Synthetic Fiber, Steel Fiber, Glass Fiber, Natural Fiber, Basalt Fiber), End-Use Industry (Transport Infrastructure, Building & Construction, Mining & Tunnel, Industrial Flooring), and Region - Global Forecast to 2021", published by MarrketsandMarkets™, The global concrete fiber market is projected to reach USD 3.09 Billion by 2021, at a CAGR of 8.2%, from 2016 to 2021. Upward penetration in end-use industries, increasing urbanization, and upsurge in demand of non-corrosive materials are fueling the demand of concrete fiber market.

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Upward penetration in end-use industries, flourishing urbanization trend, upsurge in demand of non-corrosive materials are fueling the demand of concrete fiber market

The global concrete fiber market is projected to grow at a CAGR of 7.0% in terms of volume and 8.2% in terms of value, from 2016 to 2021. The concrete fiber market is growing due to the increasing demand for concrete fiber in various end-use industries such as building & construction and transport infrastructure. High operating cost is restricting the growth of the market. High entry barriers for new player are a major challenge for the concrete fiber market.

Steel fiber reinforced concrete is the fastest-growing concrete fiber type. It is widely used in various construction and civil engineering applications such as industrial floors, pavements, tunneling, and highways-overlays. Steel fiber reinforced concrete has excellent tensile & flexural strength, shock & fatigue resistance, ductility, and high durability which enable it to provide concrete with enhanced toughness and post-crack load carrying capacity. Steel concrete fiber is used to provide strength to the concrete. It is widely used in manufacturing foundations and rebars. The leading companies manufacturing steel concrete fiber include Bekaert SA (Belgium), BASF SE (Germany), and Sika AG (Switzerland)

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Investment & expansion is the key strategy adopted by the industry players to strengthen their positions in the global concrete fiber market. This strategy accounted for a share of 33.33% of all growth strategies between 2011 and 2016. The rising demand for concrete fiber in the building & construction and industrial flooring applications is due to the unique properties of concrete fibers. New product launch and mergers & acquisitions accounted for a share of 26.67% of the total number of growth strategies adopted by players in the concrete fiber market between 2011 and 2016. Agreements & partnership accounted for as share of 13.33% of all the growth strategies followed by market players in the concrete fiber market.

Expansion was the most favored strategy in the Asia-Pacific region between 2011 and 2016. Most of the companies established distribution networks and R&D centers in emerging markets like Asia-Pacific. Companies have adopted both, organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to strengthen their positions in the global concrete fiber market.

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The global concrete fiber market is fairly organized. Thus, the major players of the market consolidate to 70% of the total concrete fiber market. Bekaert SA (Belgium) is the leading player in the global concrete fiber market and accounted for a share of 30% market share between 2011 and 2016. Bekaert SA is one of the leading steel concrete fiber manufacturing companies. The company manufactures steel concrete fiber and synthetic concrete fiber. The company launched 4D and 5D Dramix product series, in 2016. This Dramix concrete fiber range is widely used in transport infrastructure and building & construction industries.

Sika AG (Switzerland) also has a strong foothold in the global concrete fiber market. It is focusing on inorganic growth and has enhanced its product portfolio in the concrete fiber market through various growth strategies, such as merger & acquisition, to meet the growing demand from customers. In 2016, Sika acquired FRC Industries (U.S.). This acquisition helped the company in enhancing the products line of high quality synthetic polypropylene and steel fibers for concrete. In 2015, the company also acquired L.M. Scofield (U.S.). This acquisition helped the company in serving the customers of North America.

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