Fiber Reinforced Concrete Market Value of US$3705.00M by 2028 at a CAGR of 5.64% between 2022 and 2028 | Nycon and Sika

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fiber reinforced concrete market

Using fibers in concrete offers many benefits beyond improved durability.

SEATTLE, WASHINGTON, USA, June 28, 2022 /EINPresswire.com/ — The use of fibers in concrete offers many benefits beyond improved durability. The fibers provide aesthetic value as well as increased durability. Fiber-reinforced concrete is a versatile mix, suitable for ground floor floors, sidewalks and other construction elements. The fibers can be any length, shape or composition, enhancing the look and feel of the final project. When applying Fiber reinforced concretethe fibers are evenly distributed throughout the concrete to ensure an even finish and a smooth surface.

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Market statistics:

Global Fiber Reinforced Concrete (FRC) Market was valued at USD 2,330.40 Million in 2020 and is projected to reach a value of USD 3,705.00 Million by 2028 at a CAGR of 5.64% between 2022 and 2028.

North America held a dominant position in the global fiber reinforced concrete (FRC) market in 2020, accounting for 31.39% share by value, followed by Asia-Pacific and Europe, respectively.

RECENT DEVELOPMENTS:

In December 2021, GCP Applied Technologies signed a definitive agreement whereby Saint-Gobain will acquire all of the outstanding shares of GCP Applied Technologies for US$32.00 per share, in cash, in a transaction valued at approximately 2. $3 billion. Closing of the transaction is subject to GCP shareholder approval, antitrust approvals and satisfaction of other customary closing conditions. It is expected to close by the end of 2022.
In June 2021, the company launched a new concrete reinforcement fiber solution SikaFiber-1050 B&BA HF, which improves the durability of the concrete coating, reduces shrinkage cracking and can be used for block and beam floors.
In November 2021, Euclid Chemical announced its acquisition of the business of Brett Admixtures, a manufacturer of liquid concrete admixtures, which primarily serves the upper Midwest of the United States and the Canadian province of Manitoba. This acquisition is an opportunity for Euclid Chemical to drive greater growth across the business, while continuing to provide specialty products and engineering support services for the concrete and masonry construction industry. .

Market factors:

Rapid growth in the construction industry with increasing demand for durable and high strength concrete materials is majorly driving the growth of the Fiber Reinforced Concrete (FRC) market. Rising construction of residential and commercial buildings in Europe and North America is again expected to drive the market growth. According to the US Census Bureau, the total value of construction put in place increased for the third consecutive quarter, posting a rate of 2.2% quarter on quarter in Q1 2021, compared to an increase of 4.7% in Q4 2020.

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Increased government investment in infrastructure development is also expected to support market growth. For example, according to the 2019-2020 budget, India plans to spend USD 1.4 trillion on infrastructure over the next 5 years.

Market constraints:

The availability of ready-mixed concrete strands as they could replace the concrete reinforcement is expected to hamper the growth of the market. These strands provide increased strength and are mainly used to build highways, poles, water towers in civil construction and marine transportation of energy sources, residential buildings, water control projects and rock and earth anchoring components.

The covid-19 epidemic has severely affected the global economy, which has significantly reduced the demand for concrete products and raw materials. The construction sector has experienced problems in the development of projects.

Market opportunities:

The increase in population leads to an increasing demand for the residential sector as well as for the construction sector. This is expected to provide lucrative growth opportunities to the market. Rapid industrialization and urbanization are also expected to positively shape the growth of the market. According to the United Nations, all over the world, an increasing proportion of the population lives in cities. In 2010, 51.6% lived in urban areas. In 2020, the share of urban population increased to 56.2%. It is generally higher in developed countries (79.2% in 2020) than in developing countries (51.6%

Increasing R&D by key players to improve concrete properties such as stiffness and strength is expected to provide bright opportunities in the near future. For example, in September 2021, Ambuja Cements launched a one-of-a-kind initiative, “Concrete Futures Laboratory” (CFL), a one-stop solution for the Architects, Engineers and Construction Professionals (AEC) community. The CFL allows experts and budding professionals to “test, learn and experience” various aspects of cement and concrete.

Market Trends/Top Takeaways:

Increase in the launch of new products due to the advancement in technology is expected to be one of the market trends. For example, in October 2021, Jogani Reinforcement introduced next-generation 3S polyfiber concrete and building fiber for durable and crack-free infrastructure in India.

The upcoming global infrastructure project is expected to increase the growth of the market. For example, in March 2021, Germany’s Deutsche Bahn (DB) announced that it would spend 12.7 billion euros ($15.3 billion) to modernize its rail network as well as some stations.

Competitive Landscape:

Bekaert
CEMEX SAB de CV
GCP Applied Technologies Inc.
MBCC Group 6.4.5 KrampeHarex GmbH & Co. KG
Nycon
Sika S.A.
The Euclid Chemical Company

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