Market Overview

The fiber reinforced concrete (FRC) market is expected to grow at a CAGR of around 8% during the forecast period. The factors driving the growth of the market studied are the growing construction activities in Asia-Pacific and the rising demand for transport infrastructure with a growing population. On the flipside, the availability of ready-to-use concrete, and high production cost are some of the major concerns for the studied 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 Drive the Market Growth

  • Infrastructure segment dominates the demand for fiber reinforced concrete, globally.
  • Fiber-reinforced concrete are majorly required in the infrastructure for making roads and bridges. They enhance the toughness and post-crack load-carrying capacity of the roads.
  • Fiber-reinforced concrete is also required in the construction of highways, bridges, railways, and ports, and airports.
  • With the growing population, demand for transport infrastructure has been increasing across the world, which has been leading to an increase in investments into transport infrastructure.
  • For instance, in North America, about 89 major light rails, heavy rail, bus rapid transit, streetcar, and commuter rail projects are planned for construction during 2019. These projects are likely to add more than 830 miles of new fixed-guideway transit in countries, such as the United States, Canada, and Mexico.
  • Asian Infrastructure Investment Bank (AIIB) further plans to approve infrastructure and other social productive projects worth USD 9 billion in 2019.
  • In 2018, Middle East Rail planned to invest about USD 250 billion on various railway projects in the Middle East over the next decade.
  • Hence, all such transport infrastructure projects and investments are likely to drive the demand for Fiber-reinforced concrete in the coming years.



Asia-Pacific Region to Dominate the Market

  • 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 & construction industry.
  • The transport infrastructure and construction projects have been increasing in the countries, such as India, China, and Japan, which are likely to drive the demand for fiber reinforced concrete market in the region during the forecast period.
  • In India, the road transport and highways ministry planned a target to increase national highway to 2 lakh km by 2022. While in 2019, the country holds a target to construct a 10,000 km national highway.
  • In addition, the Indian government has planned an investment of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost construction in the country.
  • China currently has numerous airport construction projects, such as, which are either in development or planning stage. These include - Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years.
  • 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 a consolidated market, where few players account for significant share of the market demand. Some of the major players in the market include Sika AG, Bekaert SA, GCP Applied Technologies Inc., BASF SE, and Owens Corning, amongst others.

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