Concrete Fiber Market Projected to Witness Vigorous Expansion by 2026

Construction

The global concrete fibers market was valued at US$ 963.8 Mn in 2017 and is anticipated to expand at a CAGR of 6.2% from 2018 to 2026, according to a new report titled ‘Concrete Fibers Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global concrete fibers market is driven by the rise in building and construction activities across the globe.

Rising Demand for Concrete Fibers from Building & Construction Industry to Drive Market

The global concrete fibers market is primarily driven by advancements in the building & construction industry. The building & construction segment is estimated to account for a large share of the market. The segment is also anticipated to expand at a considerable growth rate during the forecast period. Steel and glass concrete fibers are primarily used in building and construction activities. Glass fibers are used for architectural cladding. Steel fibers are used to build various transportation infrastructures such as tunnels, bridges, and roads, as these provide higher strength as compared to other fibers. The construction industry in the U.S. is estimated to expand at a faster pace than that in China in the next 15 years. Construction is projected to rise in the southern states in the U.S.

Surge in Demand for Non-corrosive Materials to Drive the Concrete Fibers Market

Reinforced concrete is extensively used in various construction activities. Over two billion tons of reinforced concrete is produced annually across the globe. It has many advantages including lower cost, easy availability of raw materials, higher fire and weather resistance, and higher compressive strength as compared to wood. However, concrete lacks tensile strength and ductility. The global cost incurred due to corrosion of buildings is estimated at US$2.5 Trn annually. The estimated cost incurred to repair corroded infrastructure is US$ 300 Bn annually in the U.S. alone. Synthetic fibers, glass fibers, and steel fibers are used to combat corrosion. Corrosion is a prevalent issue across the globe, which can be overcome with the use of fiber reinforced concrete. Fibers help reduce crack widths within a concrete sample. These cracks cause deterioration of any concrete structure, as they prevent corrosive materials from reaching the rebar. These fibers improve other properties of the concrete such as its ability to induce strain hardening to the areas where the post cracking tensile stress is higher than the tensile strength.

High Production and Operating Cost to Restrain the Market

Ductility of plain concrete is enhanced by adding fibers. These fibers improve the tensile and flexural strength and allow its use in structural elements with no passive or active reinforcement. Production of synthetic-based concrete fibers require advanced technology; therefore, its production cost is higher than that of traditional materials. Additionally, advanced technology is required to enhance the durability and to make concrete fibers lightweight, which is not met easily with the use of other materials such as conventional concrete. Concrete fibers can reduce construction time, labor, and material costs, and significantly decrease ongoing maintenance costs. High costs associated with concrete fibers are likely to limit its widespread use. This, in turn, is projected to hamper the market.

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Steel Fibers Segment to Dominate Global Concrete Fibers Market

Based on product, the concrete fibers market has been divided into synthetic fibers, glass fibers, blended fibers, steel fibers, basalt fibers, animal origin fibers, and cellulose fibers. Steel is likely to be a highly attractive segment of the concrete fibers market during the forecast period. It constituted a major share of the market in terms of value and volume in 2017, as steel fibers help improve resistance to fracture, disintegration, and fatigue.

Transportation Infrastructure Segment Dominates Concrete Fibers Market

In terms of application, the concrete fibers market has been segmented into building & construction, transportation infrastructure, mining, industrial flooring, and others. Transportation infrastructure is anticipated to be a highly attractive segment during the forecast period. However, the segment is anticipated to expand at a sluggish pace during the forecast period.

North America Dominates the Global Concrete Fibers Market

Based on region, the concrete fibers market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to be a highly attractive region of the global concrete fibers market during the forecast period. The region held a large share of the global market in 2017. Major manufacturers of concrete fibers are located in North America.

The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Consumption of concrete fibers is expected to be high in the region during the forecast period. Increase in the number of highway projects and rise in investments in the construction sector are major factors that are anticipated fuel the concrete fibers market in Asia Pacific during the forecast period.

High Degree of Competition among Market Players

High degree of competition exists among market players operating in the concrete fibers market. The market is dominated by few big players and is moderately consolidated. Key players operating in the concrete fibers market include Sika Group, BASF SE, Bekaert, GCP Applied Technologies Inc., Owens Corning, ABC Polymer Industries, LLC, Nycon Corporation, Fibercon International Inc., and Synthetic Resources, Inc.

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The global tattoo inks market was valued at US$ 122.25 Mn in 2017. It is anticipated to expand at a CAGR of 5.55% from 2018 to 2026, according to a new research report titled ‘Tattoo Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global tattoo inks market is driven by rise in the popularity of tattoos among youngsters worldwide. In terms of demand, North America accounts for a dominant share of the global tattoo inks market.

Rise in Demand for Tattoos among Youngsters to Boost Market

Tattooing is an increasing fashion phenomenon that has attracted more than 100 million young adults across the globe to date. According to the Council of Europe, one in five individuals in the U.K. is tattooed. The figure rises to one in three among young adults. About 12% of people in Europe and up to 24% of people in the U.S. are tattooed, which includes teenagers also. About 20% to 30% of youngsters in Europe and almost 40% of youngsters in the U.S. have tattoos. The number is even higher in Germany and the Netherlands and it is expected to double by the end of the forecast period. This trend is estimated to continue in the next decade, thereby driving the global tattoo inks market. The popularity of tattooing is significantly less among people aged 50 years and above. Fewer than 10% of people in this age group opt for tattoos. About 37% of tattooed individuals in Denmark got their first tattoo when they were less than 20 years’ old. This percentage rises to 44% and 18% among teenagers aged less than 18 years in France and Germany, respectively. Currently, women account for a major share of the tattooed population in Denmark, Italy, and the U.S. The trend of tattooing is more noticeable among adolescents and youngsters in Europe and North America.

Adverse Effects of Tattoo Inks on Health Hampering Tattoo Inks Market

The popularity of tattoos has risen over the last few years. However, this has led to concerns about the safety of tattoo inks, which may entail infectious and non-infectious risks. Tattoo inks may contain hazardous chemical ingredients and microbiological agents. They may be applied under poor hygiene conditions. According to the European Academy of Dermatology and Venereology, tattoo inks consist of pigments and dyes, additives, nanoparticles of heavy metals, and hazardous impurities arising from the production process. This may pose potential risks in terms of bacterial contamination, allergies, toxic effects, and even cancer. The European Academy of Dermatology and Venereology has an evidence that traces of tattoo inks can be found in draining lymph glands and they can be detected in mice livers in laboratory tests. More than 60% of chemicals in tattoo inks are azo pigments, a type of compound which, after being injected, can break down by ultra-violet exposure and spread potentially cancer-causing particles to other parts of the body. Tattoo inks also contain several chemicals such as formaldehyde glycerol and isopropyl alcohol. If these chemicals go deep into the skin, the skin becomes more permeable. In other words, chemicals used in the tattoo ink are harmful and they can directly affect the blood circulation in the body.

Black & Gray Tattoo Inks Segment to Dominate Global Tattoo Inks Market

Based on type, the global tattoo inks market has been segmented into black & gray tattoo inks and colored tattoo inks. The colored tattoo inks segment has been sub-divided into red, violet, and blue & purple. The black & gray tattoo inks segment accounted for a leading share of the global tattoo inks market in 2017. The segment is likely to remain highly attractive during the forecast period, due to high usage of black and gray tattoo inks in outlining of colored tattoos. Consumers of tattoo inks generally prefer black and gray inks for tattooing. Black tattoo ink is made from different pigments with various base colors such as blue-black, gray-black, and black-green. Depending on the location of the tattoo on the body, black color becomes transparent after a few years, due to exposure to the sunlight.

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Organic Segment to Lead Market

Based on pigment, the global tattoo inks market has been classified into mineral, organic, and others. The others segment comprises biological pigments, inorganic pigments, azo pigments, and earth pigments. Organic was a highly attractive segment of the global tattoo inks market in 2017, owing to physical properties of organic pigments such as higher resistance to sunshine, flooding, acids, alkalis, organic solvents, and heat compared to other pigments. Organic pigments exhibit high color strength when mixed with barium sulfate and titanium oxide. Due to these characteristics, organic pigments are widely used in tattoo inks.

North America Dominates Global Tattoo Inks Market

Based on region, the global tattoo inks market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of value and volume, North America was a leading region of the global market in 2017 and the market in the region is anticipated to expand at a rapid pace during the forecast period, owing to rise in the number of tattoo parlors and presence of major manufacturers of tattoo inks in the region. Europe and Asia Pacific are significant consumers of tattoo inks. According to the Council of Europe, more than 60 million people in the European Union were tattooed in 2017. Europe is expected to be a highly lucrative region of the global tattoo inks market during the forecast period, owing to technological advancements in tattoo removal methods and tattooing machines. The tattoo inks market in Middle East & Africa and Latin America is projected to expand at a sluggish to moderate pace during the forecast period. Demand for tattoo inks in these regions is anticipated to rise in the next few years, due to anticipated rise in the demand for tattoos from youngsters in these regions.

High Degree of Competition among Players Operating in Tattoo Inks Market

The degree of competition among players operating in the tattoo inks market in the U.S. is high, due to presence of a large number of players producing tattoo inks in the country. Key players operating in the global tattoo inks market are Intenze Tattoo Ink, Eternal Ink, Kuro Sumi, Millennium Colors, Bloodline Tattoo Ink, Alla Prima, Dynamic Tattoo Inks, Radiant Colors Tattoo Ink, StarBrite Colors Tattoo Ink, and Sacred Color.