Global Fiber Reinforced Concrete Market Opportunity Analysis and Industry Forecast 2028
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| Fiber Reinforced Concrete Market |
A
rise in commercial construction activity is anticipated to fuel the market as a
result of the economy's improved state. The need for more office and storage
space has been driven by the expansion of industries like food and consumer
goods, which has had a large positive impact on the construction sector and the
demand for paving slabs as long-lasting and attractive flooring. With the majority
of the actors involved in the production and manufacture of the raw materials
used in the production of paving slabs, product makers have a highly integrated
supply chain. The majority of market participants also benefit from a robust
direct distribution network that facilitates a seamless flow of products and
enables them to build a broader customer base. Having a wide range of
customizable products is important while making purchases.
The global Fiber
Reinforced Concrete Market was valued at US$ 2,330.40 Mn in 2020 and is
forecast to reach a value of US$ 3705.00 Mn by 2028 at a CAGR of 5.64% between
2022 and 2028.
Following
the market's recovery from the COVID-19 pandemic-related decline in 2020,
growth was brisk in 2021. The primary application field for fiber-reinforced
concrete worldwide is the construction industry. Globally, the building sector
is expanding, with a strong emphasis on community development. The demand for
concrete materials is expected to increase as more commercial and residential
buildings are constructed. The demand for single-family homes is rising in
North America and Europe, which is assisting the sector's overall expansion.
Over the next seven years, the Fiber Reinforced Concrete Market in North
America is anticipated to have favourable growth due to a high influx of
private investments in the construction industry in 2021 and an increase in
construction activity.
Because of the growing Fiber Reinforced Concrete Market in North America and the expanding GDP there, it is projected that the industrial sector in the area will experience significant growth. The increased usage of reinforced concrete in underwater structures for infrastructural development in economies like Turkey is anticipated to drive the demand for reinforced concrete in the region. Additionally, the construction of marine constructions like tunnels and bridges in developed countries is anticipated to fuel industrial expansion.
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