Fiber Reinforced Concrete Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Fiber Reinforced Concrete Market is Segmented by Type (Natural Fiber, Synthetic Fiber, Glass Fiber, Steel Fiber, and Other Types), End-User Industry (Infrastructure, Building and Construction, Mining and Tunneling, Industrial Flooring, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The Report Offers Market Size and Forecasts for Fiber-Reinforced Concrete (FRC) in Revenue (USD) for all the Above Segments.

Fiber Reinforced Concrete Market Size

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Fiber Reinforced Concrete (FRC) Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 2.79 Billion
Market Size (2029) USD 3.68 Billion
CAGR (2024 - 2029) 5.72 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Fiber Reinforced Concrete Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Fiber Reinforced Concrete Market Analysis

The Fiber Reinforced Concrete Market size is estimated at USD 2.79 billion in 2024, and is expected to reach USD 3.68 billion by 2029, growing at a CAGR of 5.72% during the forecast period (2024-2029).

The COVID-19 outbreak negatively impacted the market in 2020. With the COVID-19 pandemic's beginning, construction work stopped worldwide, especially in major construction hubs like China and India. However, the market was projected to grow steadily in the forecast period due to global construction sector growth.

  • Over the short term, the increasing demand from the construction sector and rising demand for transport infrastructure projects are expected to drive the market's growth.
  • On the flip side, the availability of ready-to-use concrete strands will likely hinder the growth of the fiber-reinforced concrete market.
  • Moreover, upcoming global infrastructure projects are likely to provide opportunities for the studied market during the forecast period.
  • During the forecast period, the Asia-Pacific region is expected to dominate the global market due to the exponentially increasing construction activities in the region.

Fiber Reinforced Concrete Market Trends

Building & Construction Segment to Dominate the Market

  • Fiber-reinforced concrete is used in various residential and commercial applications. The fiber-reinforced concrete is used in the structural reinforcement of beams, foundations, walls, and elevated slabs of residential and commercial buildings. It is also used for floors, slabs, parking areas, steel decks, elevated frameworks in commercial buildings, and shopping centers.
  • According to Oxford Economics, the global construction industry was valued at USD 9.7 trillion in 2022 and is estimated to reach USD 13.9 trillion by 2037, driven by superpower construction markets, such as China, the United States, and India.
  • Furthermore, all construction work done over the next 15 years by the world’s top 10 construction markets is expected to account for 70% of the total global construction market.
  • Growth in population growth, migration from hometowns to service sector clusters, and the growing trend of nuclear families are some factors driving residential construction worldwide.
  • The construction industry in the United States is the largest in North America. According to the US Census Bureau, the annual construction in the United States accounted for USD 1,792 billion in 2022, compared to USD 1,626.4 billion in 2021, at a growth rate of 10.2%.
  • Moreover, the annual value of residential construction output in the United States was valued at USD 908 billion in 2022, compared to USD 802 billion in 2021. The annual non-residential construction in the country was valued at USD 884 billion in 2022, compared to USD 823 billion in 2021.
  • The German government initiated the construction of the Digital Park Fechenheim on an area of 10.7 hectares, with a gross floor area of 100,000 square meters in Frankfurt-Fechenheim, Hesse, Germany, with an investment of USD 1,179 million. The construction work started in Q3 2021 and is expected to be completed in Q4 2028.
  • Therefore, the growing demand from building and construction activities around the globe is estimated to drive the market for fiber-reinforced concrete during the forecast period.​
Fiber Reinforced Concrete (FRC) Market - Annual Value of Construction, USD Billion, United States, 2018-2022

Asia-Pacific Region to Dominate the Market in the forecast period

  • The consumption levels of fiber-reinforced concrete in Asia-Pacific countries, such as China, India, and Indonesia, are expected to rise robustly, owing to the increasing demand from the transportation, building, and construction industries.
  • Asia-Pacific is the fastest-growing region for road and highway construction projects. China has increased its road construction and maintenance spending. Further, the country has many ongoing and upcoming road and highway construction projects.
  • The construction sector in the Asia-Pacific region is the largest in the world. It is increasing at a healthy rate, owing to the rising population, increase in middle-class income and urbanization.​ The highest growth for housing is expected to be registered in the Asia-Pacific region, owing to the expanding housing construction markets in China and India.
  • According to the National Bureau of Statistics of China, the value of construction output accounted for CNY 31.2 trillion (USD 4.5 trillion) in 2022, up from CNY 29.3 trillion (USD 4.2 trillion) in 2021. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive outlook for fiber-reinforced concrete materials.
  • China’s 14th Five-Year Plan focuses on new infrastructure projects in energy, transportation, water systems, and new urbanization. According to estimates, overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach roughly CNY 27 trillion (USD 4.2 trillion).
  • Further, the increasing disposable income in the country has triggered the growth of lavish commercial spaces like malls, hotels, offices, and others. China is one of the leading countries in shopping center construction.
  • China has almost 4,000 shopping centers, while 7,000 more are estimated to be open by 2025. Moreover, the construction of office spaces such as Wuhan Fosun Bund Center T1 in China is expected to boost the market studied. Construction work for the project started in Q3 2021 and is forecast to be completed in Q4 2025.
  • India currently has the fifth-largest metro network in the world and will soon overtake advanced economies such as Japan and South Korea to become the third-largest network. As of September 2022, the Metro rail network reached 810 km and is operational in 20 cities in India.
  • Furthermore, in September 2022, the Indian government approved rail-cum-road bridge across the Brahmaputra river near the existing Saraighat bridge at Guwahati at a cost of INR 9,967.5 million (USD 122.27 million), which NHAI & Ministry of Railways will share. Thus, the implementation of new infrastructural projects will drive the market for fiber-reinforced concrete in the country.
  • Therefore, with all such investments and an increasing number of infrastructure and construction projects, the demand for fiber-reinforced concrete will likely increase at a robust rate in the region during the forecast period.
Fiber Reinforced Concrete (FRC) Market - Growth Rate by Region, 2023-2028

Fiber Reinforced Concrete Industry Overview

The fiber reinforced concrete market is consolidated in nature, with few players accounting for a significant share of the market demand. Some of the major players (not in any particular order) in the market include CEMEX, S.A.B. de C.V., Sika AG, Bekaert, GCP Applied Technologies Inc., and MBCC Group, among others.

Fiber Reinforced Concrete Market Leaders

  1. Sika AG

  2. Bekaert

  3. GCP Applied Technologies Inc.

  4. MBCC group​

  5. CEMEX, S.A.B. de C.V.

*Disclaimer: Major Players sorted in no particular order

Fiber Reinforced Concrete Market Concentration
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Fiber Reinforced Concrete Market News

  • November 2022: Armstrong World Industries Inc. announced the acquisition of GC Products Inc., a manufacturer of durable, custom architectural interior products made of glass fiber-reinforced concrete and gypsum. This acquisition will help the company expand its existing Plasterform architectural castings business and increase its ability to serve the growing demand for custom-cast and other novel architectural solutions.
  • September 2022: GCP Applied Technologies announced the company's acquisition by Saint-Gobain. Saint-Gobain is engaged in designing, manufacturing, and distributing materials and services for construction and industrial markets. Saint-Gobain's CertainTeed and Chryso businesses will be integrated with GCP's well-known brands and decades of expertise.

Fiber Reinforced Concrete (FRC) Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand From the Construction Sector

      2. 4.1.2 Increasing Transport Infrastructure Projects

    2. 4.2 Restraints

      1. 4.2.1 Availability of Ready-to-use Concrete Strands

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Natural Fiber

      2. 5.1.2 Synthetic Fiber

      3. 5.1.3 Glass Fiber

      4. 5.1.4 Steel Fiber

      5. 5.1.5 Other Types

    2. 5.2 End-user Industry

      1. 5.2.1 Infrastructure

      2. 5.2.2 Building and Construction

      3. 5.2.3 Mining and Tunnel

      4. 5.2.4 Industrial Flooring

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AWI Licensing LLC

      2. 6.4.2 Bekaert

      3. 6.4.3 Cemex S.A.B. De C.V.

      4. 6.4.4 Formglas Products Ltd.

      5. 6.4.5 GCP Applied Technologies Inc. (Saint-gobain)

      6. 6.4.6 Krampeharex Gmbh & Co. Kg

      7. 6.4.7 MBCC Group

      8. 6.4.8 Nycon

      9. 6.4.9 Sika AG

      10. 6.4.10 The Euclid Chemical Company

    5. *List Not Exhaustive

    1. 7.1 Upcoming Global Infrastructure Projects

    2. 7.2 Other Opportunities

**Subject to Availability
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Fiber Reinforced Concrete Industry Segmentation

Fiber-reinforced concrete is a composite material consisting of discontinuous, discrete, uniformly dispersed fibrous material and cement, mortar, concrete, and other materials. It is ideally suited for concrete applications requiring protection from drying shrinkage, improved durability, increased service life, etc. Fiber reinforcement in concrete offers high-impact strength, limits crack growth, and leads to a greater strain capacity for the composite material.

The fiber-reinforced concrete market is segmented by type (natural fiber, synthetic fiber, glass fiber, steel fiber, and other types), end-user industry (infrastructure, building and construction, mining and tunnel, industrial flooring, and other end-user industries). The report offers market size and forecasts for 15 countries across major regions. 

The report offers market size and forecasts for fiber-reinforced concrete in revenue (USD) for all the above segments.

Natural Fiber
Synthetic Fiber
Glass Fiber
Steel Fiber
Other Types
End-user Industry
Building and Construction
Mining and Tunnel
Industrial Flooring
Other End-user Industries
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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Fiber Reinforced Concrete (FRC) Market Research Faqs

The Fiber Reinforced Concrete Market size is expected to reach USD 2.79 billion in 2024 and grow at a CAGR of 5.72% to reach USD 3.68 billion by 2029.

In 2024, the Fiber Reinforced Concrete Market size is expected to reach USD 2.79 billion.

Sika AG, Bekaert, GCP Applied Technologies Inc., MBCC group​ and CEMEX, S.A.B. de C.V. are the major companies operating in the Fiber Reinforced Concrete Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Fiber Reinforced Concrete Market.

In 2023, the Fiber Reinforced Concrete Market size was estimated at USD 2.63 billion. The report covers the Fiber Reinforced Concrete Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fiber Reinforced Concrete Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Fiber Reinforced Concrete (FRC) Industry Report

Statistics for the 2024 Fiber Reinforced Concrete (FRC) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fiber Reinforced Concrete (FRC) analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Fiber Reinforced Concrete Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)