Synthetic Concrete Fibers Market Revenue Analysis Report 2028


25th April 2019 - The global synthetic concrete fibers market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the soaring demand from the building & construction industry, iron & steel industry and petrochemical industry, and increasing application in insulation segment. Synthetic concrete fibers offers high thermal efficiency in comparison with its counterparts, thus are largely used in the high temperature applications. Rapid urbanization is considered as the key industry trend associated with synthetic concrete fibers market over the past few years.

High-end demand for synthetic concrete fibers in various end-user industries is attributed to superior properties of synthetic concrete fibers such as lightweight, compact size, high thermal conductivity, thermal shock resistance, resistance to chemical and adverse atmospheric conditions. These factors are expected to boost market demand for synthetic concrete fibers over the forecast period. Globally, synthetic concrete fiber market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of synthetic concrete fibers.

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Fibers are typically needed for managing cracks due to contraction of plastic and evaporation of water in the hardening stage of concrete. Concrete fiber offer additional advantages such as high stability, massive physical durability, and high heat resistance. Synthetic concrete fibers are highly cost efficient in comparison with its counterparts.

The synthetic concrete fiber industry is broadly categorized into three major segments based on the product type such as synthetic fiber, steel fibers and glass fibers. Synthetic fiber segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of synthetic fiber segment is attributed to the availability of low cost solutions and increasing product penetration in the global market.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in building & construction industry, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.

Asia-Pacific region is estimated to hold a major share in the synthetic concrete fibers market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising awareness level among manufactures, easy availability of raw materials, rapid urbanization, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the synthetic concrete fibers market are The Euclid Chemical Co., Nycon Corp., Cemex Co., Bekaert S.A., Propex Operating Company, LLC, Fibercon International Inc., ABC Polymer Industries LLC, W.R. Grace & Co., SIKA AG, and BASF SE.

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