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| Fiber Reinforced Concrete Market |
The global Fiber Reinforced Concrete Market is estimated to be valued at US$ 2707.95 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fiber reinforced concrete consists of discrete fibers that are uniformly
dispersed or randomly oriented within a cement-based matrix. Concrete
reinforced with fibers becomes much more ductile and tougher. Fiber reinforced
concrete has advantages such as improved impact, shatter and abrasion
resistance over normal concrete. It reduces cracking and increases service life
of structures.
Market key trends:
The adoption of blockchain technology is driving significant growth in the
fiber reinforced concrete market. Blockchain allows materials and products to
be tracked from raw material sourcing to the production process to the final
installation. This provides transparency and accountability across the supply
chain. Real-time tracking of fiber reinforced concrete aids in quality control
and ensuring standards are met. It also helps minimize waste and improves
overall efficiciency. The implementation of blockchain is increasing due to its
benefits in building long-term trust for construction materials with better
traceability.
Segment Analysis
The global fiber reinforced concrete market is segmented into type and
application. Based on type, the market is categorized into steel concrete
fiber, synthetic concrete fiber, glass concrete fiber, and others. Among these,
the steel concrete fiber segment dominated the market in 2022 and is expected
to continue its dominance over the forecast period. Steel concrete fibers
enhance the mechanical properties of concrete structures and increase
durability.
Key Takeaways
The global Fiber
Reinforced Concrete Market Growth is expected to witness high growth,
exhibiting CAGR of 5.6% over the
forecast period, due to increasing infrastructure development activities across
the world.
Regional analysis
Asia Pacific dominated the global market in 2022 and is expected to maintain
its dominance during the forecast period. Rapid urbanization and infrastructure
development in India and China are the key factors driving the demand for fiber
reinforced concrete in the region.
Key players
Key players operating in the fiber reinforced concrete market are Bekaert,
CEMEX SAB de CV, GCP Applied Technologies Inc., KrampeHarex GmbH & Co. KG,
Nycon, Sika AG, and The Euclid Chemical Company. The global market is
consolidated in nature with top players accounting for major share.
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