Fiber Reinforced Concrete (FRC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Fiber Reinforced Concrete (FRC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • February 2022 •
  • 151 pages •
  • Report ID: 6241281 •
  • Format: PDF
The global fiber reinforced concrete (FRC) market was valued at USD 2,426.52 million in 2021, registering a CAGR of greater than 5% during the period, 2022-2027.

The market has seen robust growth in 2021 after the recovery from 2020 due to the COVID-19 pandemic. The construction industry is the prime application sector for fiber-reinforced concrete around the globe. The construction industry around the globe is ascending with a major focus on community development. Increasing constructions for commercial and residential properties are anticipated to have a positive impact on the demand for concrete products. Increasing demand for single-family housing units in Europe and the North American region is supporting the overall growth of the construction industry.?

Key Highlights
Over the short term, the growing construction activities in Asia-Pacific and the rising demand for transport infrastructure projects are expected to drive the market’s growth.
On the flip side, the availability of ready-to-use concrete, and high production cost are likely to hinder the growth of fiber reinforced concrete (FRC) market.
Transport infrastructure segment dominated the market and is likely to grow during the forecast period, with increasing public and private investments into transport infrastructure.
The introduction of new alkaline-resistant synthetic fibers is likely to provide opportunities for the studied market during the forecast period.

Key Market Trends

Infrastructure Segment to Expand at a Lucrative Rate

The infrastructure segment dominates the demand for fiber reinforced concrete, globally.
Fiber-reinforced concrete is majorly required in the infrastructure for making roads and bridges. They enhance the toughness and post-crack load-carrying capacity of the roads Moreover, this concrete is also required in the construction of railways infrastructure, ports, and airports.
Recently China has boosted its road development and maintenance expenditures. According to data released by China’s Ministry of Transport, road construction increased by 13.8% between January 2021 and June 2021 compared to the same period in 2020.
In 2021 the Alberta government has increased its investments in highway and water management infrastructure to improve highway safety, link communities, and keep Albertans employed. The projects will improve traffic safety, support significant commerce routes to promote commercial carrier travel, and offer irrigation and flood mitigation protection for Alberta towns.
In 2022, India’s road industry will experience enormous growth as additional stretches of national roads are built, and several projects and fundraises are granted and completed, making it a better year than the previous one.
Hence, all such infrastructure projects and investments are likely to significantly impact the demand for fiber-reinforced concrete (FRC) market in the coming years.

Asia-Pacific Region to Dominate the Market in the forecast period

Asia-Pacific dominated the studied market during. The consumption levels of fiber reinforced concrete in Asia-Pacific countries, such as China, India, and Indonesia, are expected to rise at a robust rate, owing to the increasing demand from the transportation, and building and construction industry.
The transport infrastructure and construction projects have been increasing in the countries, such as China, India, and Japan, which are likely to drive the demand for fiber reinforced concrete market in the region during the forecast period.
As of March 2021, China to complete longest and widest underwater highway tunnel, the Taihu tunnel, will open to traffic before the end of the year 2021. The tunnel will stretch for almost 11 km under Lake Taihu, near Shanghai.
As of January 2021, the National Capital Region Transport Corporation (NCRTC) has awarded a contract to Shanghai Tunnel Engineering Company Limited, for the construction of a 5.6 km underground stretch, from New Ashok Nagar to Sahibabad, of the Delhi-Meerut Rapid Rail Transit System (RRTS) project. Moreover, the 17-km priority corridor of the Delhi-Meerut RRTS from Sahibabad to Duhai will be operational in 2023 and the entire corridor will be operational in 2025.
Therefore with all such investments and an increasing number of infrastructure and construction projects, the demand for fiber reinforced concrete is likely to increase at a robust rate in the region during the forecast period.

Competitive Landscape

The fiber reinforced concrete (FRC) market is consolidated in nature, where few players account for a significant share of the market demand. Some of the major players (not in any particular order) in the market include CEMEX SAB de CV, Sika AG, Bekaert, GCP Applied Technologies Inc., and MBCC group, amongst others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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