Fiber Reinforcement Market

The global market value of the fiber reinforcement market was valued at USD 2.5 billion in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period. Fiber-reinforced polymer (FRP) composites are materials made by combining a polymer matrix with a fibrous reinforcing dispersed phase. The rising population, coupled with rapid urbanization and industrialization in emerging economies, is driven by the increase in construction spending and is likely to boost the global construction industry.

The rising demand for off-site construction is fueling the market growth significantly. The rise in the growth of commerce sectors and a boom in the construction sector are driving growth in the market. Increased demand for lightweight, fuel-efficient vehicles is driving the demand in the market. The rise in the growth of commercial sectors like food and consumer goods has called for an increase in office and storage space, which has contributed significantly to the construction industry and the need for durable and aesthetic flooring in the form of paving slabs.

Increasing demand for fiber reinforcement polymers in the transportation sector is also driving the market growth significantly. These lightweight and durable materials are used in various applications, including body panels, underbody shields, and structural components, contributing to fuel efficiency, reduced emissions, and improved safety in the automotive sector.

Growth Drivers

The rise in the growth of commercial sectors like food and consumer goods has called for an increase in office and storage space, which has contributed significantly to the construction industry and the need for durable and aesthetic flooring in the form of paving slabs. Rapid growth in electric vehicles worldwide is driving the demand in the market significantly. The automotive and aerospace industries are shifting towards lighter parts to meet fuel efficiency and CO₂ targets. Rising demand for steel fiber-reinforced concrete for manufacturing tunnel linings, pipes, and septic tanks is likely to propel demand over the projected period.

 Massive investment in wind power, particularly offshore turbines, relies heavily on fiber composites. Urbanization and government-funded infrastructure like bridges and tunnels in emerging markets are key growth drivers. The demand for steel fibers, glass fibers, aramid, and carbon fibers continue to grow in high-performance sectors. Regulatory pressures in the major part of the world are fueling the need for eco-friendly materials. Public and industry interest in sustainable composites, including bio-based or recyclable fibers, has grown. Increasing demand for natural fibers in the packaging industry is fueling the market growth.

Segmentation

Fiber Reinforcement Market by Product

·         Polypropylene

·         Steel

·         Basalt

·         Others

Fiber Reinforcement Market Application

·         Infrastructure

·         Building & Construction

·         Industrial

By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Fiber Reinforcement Market by Application Segmentation

Based on the application, the fiber reinforcement market is segmented into infrastructure, industrial, and building and construction. Building and construction is the leading segment and is expected to dominate the market during the forecast period because of the high demand in concrete reinforcement. Rapid urbanization and increasing investment in residential and commercial construction—especially in emerging economies—drive consistent demand. Construction projects increasingly rely on fiber-reinforced composites for longer life spans, corrosion resistance, and reduced maintenance. Glass, carbon, basalt, and synthetic fibers are commonly used in walls, roofs, tunnels, bridges, and more, making construction the most versatile application.

Regional Outlook

Based on the regions, the fiber reinforcement market is analyzed into 5 regions: Asia-Pacific, North America, the Middle East and Africa, Latin America, and Europe. Asia-Pacific is the leading region in the fiber-reinforcement market due to rapid urbanization and industrialization in countries like China and India. Highways, metros, bridges, and high-rise buildings all are contributing significantly to market growth. China, Japan, India, and South Korea are global hubs for automobile production and increasingly integrate fiber-reinforced components to meet emission and fuel-efficiency standards. Growth in electric vehicles in the region is fueling the market growth significantly.

Countries like China and India are leading global wind-energy installations with fiber-reinforced composites. Lower labor costs and material costs in the region are the key factors behind the market growth. Fiber-reinforced concrete mortar and plaster are widely adopted in the Asia-Pacific region.

North America is witnessing steady growth in the fiber reinforcement market due to a surge in public/private infrastructure spending, including roads, bridges, tunnels, and industrial sites, which strongly drives fiber adoption. Technological maturity and scale in North America have led to competitive fiber pricing.

Steel-fiber demand is projected to stay robust, driven by reconstruction, smart-city initiatives, and sustainable infrastructure projects. North America remains a leading market for fiber reinforcement, emphasizing steel and basalt fibers, along with synthetic blends. The presence of key market players in the region is fueling the market growth. The European market is robust, and the region is experiencing growth driven by applications in residential, commercial, and infrastructure projects. 

Key countries like Russia, Germany, and the United Kingdom are at the forefront of this market. The market is fueled by advancements in construction technology, a strong emphasis on sustainability, and robust regulatory frameworks that promote innovative materials. Europe is also a significant market for natural fiber composites, particularly in the automotive and building & construction sectors. The construction industry in Europe is expected to benefit from the recovery of residential and commercial construction sectors.

The number of major M&A transactions in the region increased from 144 to 149 from 2015 to 2016. The European construction market has witnessed significant growth over the last five years. The growth of the building & construction industry in the region has directly translated into a growing demand for construction materials.

Steel was the largest segment, with a revenue share of 40.41% in 2021. Horizon Databook has segmented the Europe concrete reinforcing fiber market based on polyethylene, polypropylene, steel, and basalt, covering the revenue growth of each sub-segment from 2018 to 2030. The Middle East, Africa, and Latin America are witnessing slow growth during the forecast period.

Key Players

·         SGL Carbon

·         Avient Corporation

·         Hexcel Corporation

·         ASAHI YUKIZAI CORPORATION

·         Owens Corning

·         Mitsubishi Chemical Group Corporation

·         Park Aerospace Corp.

·         NIPPON STEEL Chemical & Material Co., Ltd.

·         TORAY Industries, Inc.

·         TEIJIN Limited

·         Other Players