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| Fiber Reinforced Concrete Market |
The global Fiber Reinforced Concrete Market is estimated to be valued at US$2,330.40 Mn in 2020 and is expected
to exhibit a CAGR of 5.64% over the
forecast period of 2022 to 2028, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Fiber reinforced concrete (FRC) is a type of concrete composed of hydraulic
cement, fine and coarse aggregates, and discrete reinforcing fibers. These
fibers enhance the performance of the concrete by increasing its tensile
strength, impact resistance, and durability. The use of FRC in construction
offers several advantages, including reduced crack propagation, improved
durability, enhanced energy absorption, and increased resistance to fire and
seismic activity. The demand for FRC is driven by the need for sustainable
construction materials that can provide superior mechanical properties and
contribute to the reduction of CO2 emissions in the construction industry.
Market Key Trends:
One key trend in the fiber reinforced concrete market is the growing adoption
of synthetic fibers over steel fibers. Synthetic fibers, such as polypropylene
and nylon, offer several advantages over their steel counterparts, including
better fluidity, reduced production costs, and improved resistance to
corrosion. These fibers also provide enhanced durability and crack control,
making them suitable for a wide range of construction applications. Moreover,
the increasing focus on sustainable construction practices and the need for
lightweight materials are further driving the demand for synthetic fiber
reinforced concrete.
PEST Analysis:
Political: The political factor affecting the fiber reinforced concrete market
is government regulations and policies regarding infrastructure development.
For example, governments might implement stricter building codes and standards
to ensure the safety and durability of structures, which would increase the
demand for fiber reinforced concrete.
Economic: The economic factor influencing the market is the overall economic
growth and construction industry trends. With the growing population and
urbanization in emerging economies, there is a continuous need for
infrastructure development, which drives the demand for fiber reinforced
concrete.
Social: The social factor affecting the market is the changing preferences and
awareness of sustainable construction materials. Fiber reinforced concrete,
with its superior strength and durability, is considered an environmentally
friendly option, which appeals to conscious consumers and contributes to the
market growth.
Technological: The technological factor influencing the market is advancements
in fiber reinforcement manufacturing and construction techniques. Innovations
in materials such as carbon fibers or basalt fibers, and technologies like
automated concrete mixing and placing, enhance the performance and efficiency
of fiber reinforced concrete, boosting its adoption in various construction
projects.
Key Takeaways:
The global Fiber
Reinforced Concrete Market Share is expected to witness high growth, exhibiting
a CAGR of 5.64% over the forecast
period (2022-2028). This growth can be attributed to several factors, including
increasing infrastructure development activities, strict building regulations,
and the demand for sustainable construction materials.
From a regional perspective, Asia Pacific is expected to be the fastest-growing
and dominating region in the fiber reinforced concrete market. The region's
rapid urbanization, population growth, and government initiatives for
infrastructure development contribute to the high demand for fiber reinforced
concrete.
Key players operating in the fiber reinforced concrete market include Bekaert,
CEMEX SAB de CV, GCP Applied Technologies Inc., MBCC Group, KrampeHarex GmbH
& Co. KG, Nycon, Sika AG, and The Euclid Chemical Company. These companies
play a significant role in driving market growth through product innovation,
strategic partnerships, and expansion into emerging markets. Their strong
market presence and technological expertise make them key players in the fiber
reinforced concrete market.
Read More,
https://www.newsstatix.com/fiber-reinforced-concrete-market-trends-size-and-share-analysis/
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