Asia-Pacific concrete reinforcing fiber market is estimated to grow at a CAGR of 5.4% during the forecast period. Growing industrialization is one of the major factors in driving market growth. Rising industrialization has been witnessed coupled with favorable government initiatives to boost the manufacturing sector. For instance, Chinese SMEs contribute over 50% of the country’s tax revenue, over 60 percent of its GDP, over 70% of technological innovations, and more than 80% of urban employment. As per the Organization for Economic Cooperation and Development (OECD), in China, over 98.6% of all companies are small businesses with 300 or fewer employees, leading to more than 75% of job creation, 60% of total GDP, 50% of tax income, and 68% of exports.
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The Chinese Government applied as a part of a national strategy to support entrepreneurship and financing SMEs. During 2009-18, the country put forward a range of policy adjustments, including a sole credit allocation plan for SMEs and a differentiated deposit-reserve ratio policy, to support financial institutions to increase SME credit. Wide policy reforms and adjustments were performed, focused on easing access of SMEs to diversified financing sources. Fiber-reinforced concrete increases the concrete versatility as a construction material, while offers the potential to make easier the construction process. Combined with self-compacting concrete, it shows an essential step towards industrial construction. These fibers may be appropriate where reduced cracking and high tensile strength are required or when traditional reinforcement cannot be placed. Fiber-reinforced concrete increases the impact strength of concrete, reduces the crack growth, and results in a larger strain capacity of the composite material.
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Scope of the Asia-Pacific Concrete Reinforcing Fiber Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Type and Application
- Regions Covered- China, India, Japan, and Rest of Asia-Pacific
- Competitive Landscape- Sika AG, BASF SE, Owens Corning, and UltraTech Cement Ltd.
Asia-Pacific Concrete Reinforcing Fiber Market-Segmentation
By Type
- Steel Fiber
- Synthetic Fiber
- Natural Fiber
- Glass Fiber
- Others
By Application
- Infrastructure
- Residential and Commercial
- Industrial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
