The global fiber reinforced concrete (FRC) market was valued at USD 2,426. 52 million in 2021, recording a CAGR above 5% over the period 2022-2027. The market witnessed robust growth in 2021 following the recovery of 2020 due to the COVID-19 pandemic.
New York, June 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Fiber Reinforced Concrete (FRC) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06241281/?utm_source=GNW
The construction industry is the main application sector for fiber-reinforced concrete worldwide. The construction industry worldwide is booming with a major focus on community development. The increase in the construction of commercial and residential properties is expected to have a positive impact on the demand for concrete products. The growing demand for single-family dwellings in Europe and the North American region is supporting the overall growth of the construction industry.?
In the short term, growing construction activities in Asia-Pacific and growing demand for transportation infrastructure projects are expected to drive the market growth.
On the other hand, the availability of ready-mixed concrete and high production costs are likely to hinder the growth of the fiber reinforced concrete (FRC) market.
The transportation infrastructure segment led the market and is expected to grow over the forecast period with increasing public and private investment in transportation infrastructure.
The introduction of new alkali resistant synthetic fibers is likely to provide opportunities for the market studied during the forecast period.
Main market trends
The infrastructure segment will grow at a lucrative pace
The infrastructure segment dominates the demand for fiber reinforced concrete globally.
Fiber reinforced concrete is mainly required in infrastructure for the construction of roads and bridges. They improve the toughness and post-crack load-bearing capacity of roads. In addition, this concrete is also necessary for the construction of railway, port and airport infrastructures.
Recently, China has increased spending on road development and maintenance. According to data released by the Chinese 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 Government of Alberta increased its investments in road and water infrastructure to improve road safety, connect communities and keep Albertans working. The projects will improve road safety, support important trade routes to promote commercial hauler travel, and provide irrigation protection and flood mitigation for Alberta cities.
In 2022, India’s road industry will experience tremendous growth as new sections of national highways are constructed and several projects and fundraisers are granted and completed, making it a better year than the previous one.
Hence, all these infrastructure projects and investments are likely to have a significant impact on the Fiber Reinforced Concrete (FRC) market demand in the coming years.
Asia-Pacific will dominate the market over the forecast period
Asia-Pacific dominated the market studied during. Fiber-reinforced concrete consumption levels in Asia-Pacific countries, such as China, India and Indonesia, are expected to increase at a steady pace, driven by growing demand from transportation, construction and construction.
Transportation infrastructure and construction projects have increased in countries such as China, India, and Japan, which are likely to drive the fiber reinforced concrete market demand in the region during the forecast period .
From March 2021, China will complete the longest and widest undersea road tunnel, the Taihu Tunnel, which will open to traffic before the end of 2021. The tunnel will span nearly 11 km under Taihu Lake, near Shanghai.
In January 2021, the National Capital Region Transport Corporation (NCRTC) awarded a contract to Shanghai Tunnel Engineering Company Limited, for the construction of a 5.6 km underground section, from New Ashok Nagar to Sahibabad, from the Delhi-Meerut Rapid Rail Transit System Project (RRTS). In addition, 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.
Hence, with all these investments and an increasing number of infrastructure and construction projects, the demand for fiber reinforced concrete is expected to increase at a steady pace in the region during the forecast period.
The fiber reinforced concrete (FRC) market is consolidated in nature, where few players account for a significant share of the market demand. 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, among others.
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