Concrete Reinforcing Fiber Market Volume Forecast and Value Chain Analysis 2018-2028
Concrete reinforcing fiber manufacturers are aware of the emerging opportunities in the market and are expanding capacity expansion to meet future demand. Sika's focus on producing high-performance concrete reinforcing fibers at its facility in Germany, is in sync with the expectation of heightened demand for concrete reinforcing fiber.
Demand for steel and synthetic fibers in concrete applications is growing at a brisk pace, with global volumes estimated at CHF 800 million. Demand has been especially spectacular for synthetic fibers.
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Concrete reinforcing fiber sales are being positively influenced by macroeconomic factors including growing focus on infrastructure development, especially in developing countries. The growing investments in construction and infrastructure development in China and India have led to a surge in demand for construction materials, and concrete reinforcing fibers are likely to gain ground on account of these factors.
Expenditure on construction in China is likely to grow at high single-digit rates in 2019. This is likely to create substantial demand for construction materials in the country. Growing population, increasing urbanization, and household growth in the country are among the key factors that are likely to fuel demand for concrete reinforcing fiber in China.
Demand for concrete reinforcing fibers is likely to remain concentrated in the residential building construction, which accounts for one-third of all construction in China. The government investment in creating affordable housing for low-income families is also likely to provide the much-needed impetus to concrete reinforcing fiber market in China during the assessment period.
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