Come 2020, the global construction industry will face two major challenges that are already starting to take shape: the inevitable approach of the end-of-life for much of the infrastructure built around 1950s and 60s and the increasing demand for new infrastructure in the developing countries. This means that in the upcoming years, there will be a lot of concrete pouring all over the world.
Increased demand for concrete leads to an increased demand for reinforcement fibers. So it is all good news for manufacturers like us. The concrete fiber market revenue is projected to reach $2.8 billion by 2025 (from the value of $2.05 in 2017), according to a 2019 Global Market Insights, Inc. report. The increased use fibers it owed in part to the adoption of newer construction methods in the industry, as fibers tend to replace more and more of the traditional reinforcement methods, like the steel mesh rebar systems, mostly due to their anti-cracking effect of in concrete and cost- and time-effectiveness of their use. The other reason for the increase in fiber demand is the growing need for new infrastructure especially in countries like Italy, China and Australia.
As far as steel reinforcement fibers go, there will be no shortage of demand for them either. Concrete slabs for industrial and commercial applications, roads and bridges, landing strips, tunnel linings – they all require steel fibers in the concrete mix, from the smallest format fibers like our very own Fibrometals microfibers to the largest 75/60 or 45/50 hooked-end fibers.
The construction business is growing and with it, all suppliers in the chain of demand, steel fiber manufacturers included. We are excited to see what the future holds for our industry and to face the upcoming challenges.