Fiber-reinforced Cementitious Composites Market Size (2023 - 2030)

Global Fiber-reinforced Cementitious Composites Market was evaluated to be USD 2.34 Billion in 2022 and is estimated to reach a valuation of USD 3.96 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.8% during the forecast period 2023-2030.

Fiber-reinforced cementitious composites (FRCC) are a type of construction material made by combining fibers with cement and additional additives to increase its compressive strength, durability, and resistance to cracking. When compared to conventional concrete, FRCC has significantly improved ductility and high tensile strength, two of the material properties that make them appealing for structural applications. To achieve distinct ductility qualities, a huge amount of cement must be used in the production of FRCC. Because of the large amounts of CO2 that are released during the cement manufacturing process, the production of the FRCC poses a threat to the environment. As a result, partly replacing cement with other industrial by-products offers a potential opportunity for developing fiber-reinforced cementitious composites that are sustainable, green, and eco-friendly. Fiber-reinforced cementitious composites have been studied as promising materials for vast applications, such as industrial flooring, transportation, infrastructure, building and construction, and so on. They outperform conventional building materials in terms of high compressive strength, durability, crack resistance, enhanced tensile strain capacity, and resistance to moisture, freeze-thaw cycles, and chemical exposure, among other environmental factors. As a result of these advantages, the global fiber-reinforced cementitious composites market is estimated to have a fast CAGR during the forecasted period.

Global Fiber-reinforced Cementitious Composites Market Drivers:

The increasing demand for sustainable construction materials is fuelling the growth of the global fiber-reinforced cementitious composites market.

Over the course of the past few years, there has been an increase in demand for fiber-reinforced cementitious composites as more people become aware of the significance of using eco-friendly construction materials. FRCCs are high-performance construction materials, which offer a number of sustainability advantages, including reduced energy consumption, lower greenhouse gas emission, and longer service life. They are a superior material in contrast to other conventional construction materials in many ways. As people become more aware of the negative effects that construction activities have on the environment due to their significant contribution to air, noise, and water pollution, there is an increase in demand for sturdy, eco-friendly materials like FRCC. Therefore, this factor drives the demand for fiber-reinforced cementitious composites.

The increasing investments in infrastructure development projects are another factor contributing to the growth of the global fiber-reinforced cementitious composites market.

The market for fiber-reinforced cementitious composites is anticipated to grow as a result of increasing investments in infrastructure development projects in both developed and developing nations. Due to their unique properties, including high tensile strength, enhanced durability, reduced crack growth, increased impact strength, resistance to freezing and thawing, and increased fatigue strength, FRCCs are an excellent choice for infrastructure development projects. Therefore, this factor also drives the demand for fiber-reinforced cementitious composites.

Global Fiber-reinforced Cementitious Composites Market Challenges:

The global fiber-reinforced cementitious composites market is encountering challenges, primarily in terms of restricted awareness and high manufacturing costs. Many people are still less aware of the properties and advantages of fiber-reinforced cementitious composites, which are newly found construction materials and as a result of lack of awareness, they prefer to use other conventional construction materials. Moreover, due to the inclusion of multiple processes, costly raw materials, and labor costs, FRCC is 10% to 15% more expensive than typical cementitious composites. Thus, these challenges inhibit the growth of the global fiber-reinforced cementitious composites market.

Global Fiber-reinforced Cementitious Composites Market Opportunities:

Market expansion strategies present a lucrative opportunity in the global fiber-reinforced cementitious composites market. Given the rising demand for fiber-reinforced cementitious composites due to the increasing requirement of sustainable construction materials and the increasing investments in infrastructure development projects, major FRCC manufacturing companies can stand to gain significantly from this opportunity by expanding their product to emerging markets, such as nations of Latin America and the Middle East, in order to broaden their customer base and boost their overall revenue.

COVID-19 Impact on the Global Fiber-reinforced Cementitious Composites Market:

The outbreak of the COVID-19 pandemic substantially impacted the global fiber-reinforced cementitious composites market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the manufacturing process and distribution of fiber-reinforced cementitious composites. Moreover, several construction projects were delayed as a result of the sudden implementation of the lockdowns worldwide. These factors negatively impacted the growth of the global fiber-reinforced cementitious composites market. Despite these challenges, the global fiber-reinforced cementitious composites market is projected to recover and grow in the coming years, owing to the increasing investments in infrastructure development projects.

Global Fiber-reinforced Cementitious Composites Market Recent Developments:

In November 2022, the Indian Institute of Technology (IIT) Hyderabad researchers developed a special, low-cost ultra-high-performance fiber-reinforced concrete (UHPFRC) made with locally available materials, including cement, and fly ash.

In February 2022, Skanska AB, a Sweden-based construction company, in partnership with National Composites Center (NCC), trialed low-carbon, basalt fiber-reinforced concrete. The study is essential for comprehending the effects of advanced composite reinforcement systems and low-carbon concrete on the construction industry, as well as their contributions to low-carbon emissions, structural performance, and EOL recycling.

FIBER-REINFORCED CEMENTITIOUS COMPOSITES MARKET REPORT COVERAGE:

Global Fiber-reinforced Cementitious Composites Market Segmentation: By Fiber

• Glass Fiber

• Steel Fiber

• Natural Fiber

• Synthetic Fiber

  • Micro-synthetic Fiber

  • Macro-synthetic Fiber

• Others

In 2022, the glass fiber segment held the highest market share. The growth can be attributed to the wide availability and ease of accessibility of glass fibers for use in fiber-reinforced cementitious composites. Glass fibers are a popular choice for a wide range of construction applications due to their high tensile strength, resistance to high temperature and humidity, resistance to chemical and biological effects, and relatively low density. Due to the increasing demand for sustainable, green, and eco-friendly construction materials for the protection of the environment from carbon emissions, the natural fiber segment is anticipated to expand at the quickest rate over the forecast period.

Global Fiber-reinforced Cementitious Composites Market Segmentation: By Application

• Building & Construction 

• Industrial Flooring

• Infrastructure

• Mining & Tunnel

• Others

In 2022, the buildings and construction segment held the highest market share. The growth can be attributed to the increasing adoption of fiber-reinforced cementitious composites in vast applications of buildings and construction, including roofing, cladding, facade panels, etc., as they offer numerous advantages, such as enhanced durability, lightweight, and enhanced aesthetic appeal. Due to the rising adoption of durable and sustainable construction materials for mining and tunneling applications, the mining and tunnel segment is anticipated to expand at the quickest rate over the forecast period.

Global Fiber-reinforced Cementitious Composites Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• Rest of the World

In 2022, the region of North America held the largest share of the global fiber-reinforced cementitious composites market. The growth can be attributed to the presence of well-established construction industries in developed countries like the United States and Canada, the growing demand for sustainable, green, and eco-friendly construction materials for applications in residential, commercial, and industrial construction as well as civil projects, and the increasing adoption of new and advanced construction materials to enhance the performance of these projects. In addition, the region is home to several significant market players, including CEMEX S.A.B. de C.V., American Fiber Cement Corporation, Owens Corning, CeraTech USA, and FORTA Concrete Fiber. Due to the increasing government investments in infrastructure development projects, including rail and road networks, bridges, housing, and industrial and commercial construction in developing nations like China and India, and the rapid industrialization in these countries, the region of Asia-Pacific is anticipated to expand at the quickest rate over the forecast period.

Global Fiber-reinforced Cementitious Composites Market Key Players:

1. CEMEX S.A.B. de C.V. (Mexico)

2. Cembrit (Denmark)

3. American Fiber Cement Corporation (United States)

4. Owens Corning (United States)

5. Fibrolux GmbH (Germany)

6. CeraTech USA (United States)

7. UltraTech Cement Ltd. (India)

8. Mitsubishi Chemical Group Corporation (Japan) 

9. Plasan Carbon Composites (United States)

10. FORTA Concrete Fiber (United States)