Fiber Reinforced Concrete (FRC) Market Overview
The fiber reinforced concrete (FRC) market is expected to grow at a CAGR of around 8% during the forecast period (2021-2026). The factors driving the market growth are the rising construction activities in Asia-Pacific and the increasing demand for transport infrastructure with a growing population. The introduction of new alkaline-resistant synthetic fibers is likely to provide opportunities for the market during the forecast period. The market was negatively impacted by COVID-19 due to the halts in various mining, building, and construction activities and workforce shortages affected the commercial, infrastructural, institutional, and other construction sectors, thus, had decreased the demand for the fiber-reinforced concrete market. However, as the lockdowns were removed, these construction activities are picked up the pace, to meet the growing demand for infrastructure from various end-user markets.
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Fiber Reinforced Concrete (FRC) Market - Geographical Overview
Asia-Pacific region to dominate the fiber reinforced concrete (FRC) market
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. This rise is due to the increasing demand from the transportation, and building, and construction industries. As per National Railway Administration (China), the length of China Railways' rail network, including, electrical railroad embankment and double-track railroad embankment, accounted for 193.56 thousand kilometers in 2020, compared to 183 thousand kilometers in 2019. This has increased the demand for FRC used in various railways infrastructure during rail network expansion in the country.
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Key Highlights of the Fiber Reinforced Concrete (FRC) Market
- 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 in the market include Sika AG, Bekaert, GCP Applied Technologies Inc., BASF SE, and Owens Corning, amongst others.
- The several infrastructure projects, government initiatives, and investments are likely to significantly impact the demand for the fiber-reinforced concrete (FRC) market during the forecast period. For instance, various infrastructure projects are streamlined or to be started in 2021 in the United States, which is likely to positively impact the demand for market studied.
- California High-Speed Rail: The California High-Speed Rail megaproject is underway to complete 119 miles of construction in the Central Valley that will connect 6 of the 10 largest cities in California. After completion of Phase 1 of the project, which will connect San Francisco to San Jose to Merced to Fresno to Bakersfield to Palmdale to Burbank to Los Angeles to Anaheim, Phase 2 will be started which will connect Sacramento to Merced, and Los Angeles to San Diego. The cost of the project was estimated to be about USD 77 billion.
List of Key Players in the Fiber Reinforced Concrete (FRC) Market
- ABC Polymer Industries, LLC
- BASF SE
- CEMEX S.A.B. de C.V.
- The Euclid Chemical Company
- Fibercon International Inc.
- FORTA Concrete Fiber
- GCP Applied Technologies Inc.
- Owens Corning
- Sika AG
Related Reports and Links
- Polymer Concrete Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
- Ready-Mix Concrete Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
*List Not Exhaustive
Mordor Intelligence has segmented the global fiber reinforced concrete (FRC) market on the basis of type, end-user industry, and geography:
- Type (Market Size & Forecast based on Revenue (USD million), 2016-2026)
- Natural Fiber
- Synthetic Fiber
- Glass Fiber
- Steel Fiber
- Other Types (Glass, Asbestos, etc.)
- End-user Industry (Market Size & Forecast based on Revenue (USD million), 2016-2026)
- Building and Construction
- Mining and Tunnel
- Industrial Flooring
- Other End-user Industries
- Geography (Market Size & Forecast based on Revenues (USD million), 2016-2026)
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- United Kingdom
- Rest of Europe
- South America
- Rest of South America
- Middle-East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle-East and Africa
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