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2024

Fiber-reinforced Concrete (FRC) Market

Fiber-reinforced Concrete (FRC) Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Process, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

CM : Construction Materials

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Author's: Ganesh Nandkumar Dasturkar | Sonia Mutreja
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Fiber-reinforced Concrete (FRC) Market Research, 2032

The global fiber-reinforced concrete (frc) market size was valued at $2.2 billion in 2022, and is projected to reach $4.6 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.Fiber reinforced concrete (FRC), an evolution in creation technology, integrates conventional concrete additives with reinforcing fibers to create a high-overall performance composite material. The dispersed fibers in the concrete matrix make contributions to improved structural integrity, tensile energy, and resistance to cracking. FRC's adaptability and advanced mechanical properties make it a desired preference in modern construction, providing answers to demanding situations posed by means of dynamic environmental situations and demanding structural requirements.

Fiber-reinforced Concrete (FRC) Market

Market Dynamics

The growth of the global fiber reinforced concrete market is driven by increase in industrialization & urbanization in developing countries, such as China and India. In addition, an upsurge in population is predicted to have an instantaneous effect on the boom of the fiber-reinforced concrete (frc) market to cater to the increase in requirements of purchasers.

Furthermore, the rise in funding in growing commercial infrastructure such as airports, and bridges drives the increase of the fiber strengthened concrete marketplace in North America. For example, under the ‘Bipartisan Infrastructure Law’ of the U.S., the U.S. has allocated $25 billion for airports to address their repair and upkeep. Moreover, substantial boom in trends of residential improvement and renovation is predicted to fuel the market increase in the region. According to the U.S. Census Bureau, in 2022, rise in authorization for the construction of homes accelerated via 1.4 % from June 2021 to June 2022. In addition, in February 2023, the Vietnam-Singapore Industrial Park (VSIP) Group received the approval from the Vietnamese authorities to installation its 2nd and Vietnam’s 13th commercial park in the north-primary province of Nghe An. Thus, a growth in new construction and infrastructure tasks is predicted to create lucrative opportunities for marketplace players.

Fiber-reinforced Concrete (FRC) Market by Application

The infrastructure segment generated the highest revenue in 2022. This is owing to rising urbanization and infrastructure development in developing regions such as China, India, Africa and Others.

Increasing international focus of environmental problems has led to a surge in sustainability initiatives inside the construction enterprise. Fiber-reinforced concrete (FRC) aligns with those efforts via providing better durability and decreased environmental effect. As governments and corporations prioritize inexperienced building ideas, the demand for FRC is driven through its potential to make contributions to sustainable construction practices. In addition, rise in infrastructure spending in various countries, such as Germany, France, India, and others, surges the demand for fiber reinforced concrete, and thus drives the growth of the fiber-reinforced concrete (frc) market.

Rapid expanding populations, and growth in the economy are some of the reasons contributing to the global construction sector's notable rise. This expansion affects a variety of construction segments, such as home construction, office buildings, and manufacturing facilities, resulting in an increased demand for fiber reinforced concrete solutions. For instance, according to the Foreign Investment Review Board (FIRB) of Australia, the total number of approvals in developed commercial real estate sector increased significantly from 247 in 2019-20 to 657 in 2020-21 and the total value of approvals increased from $28.2 billion in 2019-20 to $70.4 billion in 2020-21. Such factors drive the fiber-reinforced concrete (frc) market growth.

Fiber-reinforced Concrete (FRC) Market by Type

The steel fiber segment generated the highest revenue in 2022. This is owing to steel fiber offers exceptional tensile and shear strength. 

Rapid urbanization and population increase necessitate enormous investments in infrastructure. FRC's advanced power and sturdiness make it an attractive desire for infrastructure tasks like bridges and tunnels. The multiplied focus on resilient and lengthy-lasting systems propels the growth for fiber-reinforced concrete (frc) market, aligning with the robust growth in infrastructure development worldwide.

However, challenges like limited awareness among construction experts regarding the benefits and applications of FRC pose a large restraint. Education and outreach efforts are crucial to triumph over this hurdle and foster broader popularity in the industry. While FRC offers long-time period benefits, its initial value can be a deterrent in low budget projects. The perceived better upfront costs may additionally impede sizeable adoption, especially in markets prioritizing immediate value concerns over lengthy-time period advantages. Such factors act as a restraint for fiber-reinforced concrete (frc) market growth.

Fiber-reinforced Concrete (FRC) Market by Process

The sprayed segment generated the highest revenue in 2022. This is owing to increase in demand for fiber reinforced concrete for quick and efficient application, and covers complex & irregular shapes

On the contrary, an increase in investments in infrastructure is anticipated to offer lucrative growth opportunities for the market players during the forecast period. In addition, owing to rapid economic development and increasing population, countries such as India and China are investing heavily in construction of schools and higher education institutions, health, sports, and other basic infrastructure. For instance, according to Indian Brand Equity Foundation, Indian real estate market is expected to increase to $1 trillion in 2030 from $200 million in 2021, making it the third largest globally. Hence, these investments in the construction sector are projected to increase the demand for fiber reinforced concrete and are expected to offer opportunities for fiber reinforced concrete industry growth.

The fiber-reinforced concrete (frc) market forecast is segmented on the basis of type, process, application, and region. By type, the market is divided into natural fiber, synthetic fiber, glass fibers, steel fibers, and others. By process, it is categorized into premix, sprayed, hybrid and others. By application, it is classified into infrastructure, building & construction, mining & tunnel, industrial, and others. 

By region, the fiber-reinforced concrete (frc) market share is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa).

Fiber-reinforced Concrete (FRC) Market by Region

Asia-Pacific garnered the highest revenue in 2022; and LAMEA is anticipated to register the highest CAGR during the forecast period.

Competition Analysis

The major players profiled in the fiber-reinforced concrete (frc) market report are Fibrex Construction Group, Clark Pacific, Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co. Inc., Stromberg Architectural, BB Fiberbeton, Generale Prefabbricati S.P.A., BarChip Pty Ltd, and GRCUK.

Major companies in the market have adopted partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the fiber-reinforced concrete (frc) industry.

Below are some strategies adopted by key market players.

In 2021, the construction of Kolbenhoefe Mixed-Use Complex commenced in Hamburg. It is expected to have a total gross floor area of 60,700 m2 and is estimated to cost $158 million. The rise in the residential and non-residential construction sector in Germany is estimated to have a positive impact on the growth of the fiber-reinforced concrete (frc) market.

In May 2022, Sika, a major producer of concrete including fiber reinforced concrete opened a new production facility in Stafford, Virginia. Thus, high rate of construction opens increased opportunities for utilization of fiber reinforced concrete; thereby, positively influencing the growth of the fiber-reinforced concrete (frc) market..

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fiber-reinforced concrete (frc) market analysis from 2022 to 2032 to identify the prevailing fiber-reinforced concrete (frc) market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the fiber-reinforced concrete (frc) market overview segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global fiber-reinforced concrete (frc) market trends, key players, market segments, application areas, and market growth strategies.

Fiber-reinforced Concrete (FRC) Market Report Highlights

Aspects Details
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Market Size By 2032

USD 4.6 billion

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Growth Rate

CAGR of 7.8%

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Forecast period

2022 - 2032

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Report Pages

220

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By Application
  • Infrastructure
  • Building and Construction
  • Mining and Tunnel
  • Industrial
  • Others
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By Type
  • Natural Fiber
  • Synthetic Fiber
  • Glass Fiber
  • Steel Fiber
  • Others
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By Process
  • Premix
  • Sprayed
  • Hybrid
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • Latin America  (Brazil, Chile, Rest of Latin America)
  • Middle East and Africa  (Saudi Arabia, UAE, Nigeria, South Africa, Rest of Middle East And Africa)
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Key Market Players

BB Fiberbeton, formglas products ltd., Stromberg Architectural, BarChip Pty Ltd, generale prefabbricati s.p.a., Clark Pacific, Ultratech Cement Ltd., fibrex construction group, GRCUK, Willis Construction Co. Inc.

Analyst Review

Development in the residential & non-residential construction sectors, fueled by the rise in urbanization and population across the world, is estimated to help the growth of the market in the coming years. The fiber reinforced concrete market is mainly driven by increase in government expenditures for development and reconstruction & repair of infrastructure. In addition, reduced construction time and cost-efficient production of products is another driving factor for the market. Moreover, development in manufacturing technology helps to overcome labor problem as well as lead to less construction duration.

However, high initial setup cost of the fiber reinforced concrete plants acts as restraint for the fiber reinforced concrete market. On the contrary, rapid urbanization and industrialization of emerging countries is expected to create opportunities for growth of the fiber reinforced concrete market during the forecast period. Major companies in the market have adopted strategies such as acquisition, business expansion, product launch, and collaboration to offer better services to customers in the concrete market.

Author Name(s) : Ganesh Nandkumar Dasturkar | Sonia Mutreja
Frequently Asked Questions?

The global fiber-reinforced concrete (frc) market was valued at $2,169.2 million in 2022, and is projected to reach $4,553.13 million by 2032, registering a CAGR of 7.8% from 2023 to 2032.

The forecast period considered for the global fiber reinforced concrete market is 2022 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2032 is the forecast year.

The latest version of global fiber reinforced concrete market report can be obtained on demand from the website.

The base year considered in the global fiber reinforced concrete market report is 2022.

The major players profiled in the fiber reinforced concrete market include Fibrex Construction Group, Clark Pacific, Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co. Inc., Stromberg Architectural, BB Fiberbeton, Generale Prefabbricati S.P.A., BarChip Pty Ltd, and GRCUK.

The top ten market players are selected based on two key attributes - competitive strength and market positioning.

The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.

Based on application, the infrastructure segment was the largest revenue generator in 2022.

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Fiber-reinforced Concrete (FRC) Market

Global Opportunity Analysis and Industry Forecast, 2023-2032