The global FRP rebar market is expected to grow from USD 186 million in 2021 to USD 344 million by 2026, at a CAGR of 13.0% during the forecast period. Increasing demand from the construction industry is driving the growth of the market. These FRP rebars are used in construction of roads, bridges, buildings, highways, marine structures, waterfronts, water treatment plants, MRI rooms, ATC, parking structures, salt storage facilities, chemical plants, and smelters. However, the negative impact of the COVID-19 pandemic on the construction sector has affected the FRP rebar market adversely.
GFRP rebars is the fastest-growing segment by fiber type in terms of value and volume. GFRP rebars account for the largest share in the global FRP rebar market in terms of volume.GFRP rebars are made from glass fibers by using the pultrusion method.
These rebars are highly resistant to corrosion and have high tensile strength. These are less expensive when compared with BFRP and CFRP rebars and thus have a higher growth rate.
Vinyl Ester Resins is the fastest-growing segment in the global FRP rebar market in terms of value and volume.
Vinyl ester resins have high strength, mechanical toughness, high resistance to corrosion, and resistance to fuels, chemicals, or vapors.They have great durability, heat resistance, and high tensile elongation strength.
This resin can be impregnated with short glass fiber or carbon fiber to produce FRP rebars.The majority of the FRP rebar manufacturers use vinyl ester resin.
The high growth rate is due to its cost-effectiveness over epoxies.
The highways, bridges & buildings application is the fastest-growing segment in the global FRP rebar market in terms of value and volume.
The highways, bridges & buildings application segment dominated the FRP rebar market.The increase in demand for renovation and strengthening existing structures to reduce repair and maintenance cost and enhance the life cycle of the structures drive the need for these rebars in the highways, bridges & buildings.
The volume of projects in this segment is much more compared to other segments and thus the growth rate is also higher.
APAC to lead the FRP rebar market during the forecast period APAC is projected to have the highest growth in the FRP rebar market and will expand significantly by 2026.FRP rebars are used in highways, bridges & buildings, marine structures, water treatment plants, MRI rooms, parking structures, and salt and smelting plants in the APAC region.
The high growth rate is attributed to the increasing population with improving socio-economic standards and the greater need for large scale infrastructure projects with greater life cycle and lower maintenance and repair costs. This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories: • By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27% • By Designation- C Level- 50%, Director Level- 20%, and Others- 30% • By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, South America-5%, Middle East & Africa (MEA)-10%,
The report provides a comprehensive analysis of company profiles listed below: • Composite Group Chelyabinsk (Russia) • Schöck Bauteile GmbH (Germany) • Dextra Group (Thailand) • Pultron Composites (New Zealand) • Pultrall Inc. (Canada) • Owens Corning (US) • Sireg Geotech S.r.l. (Italy) • Kodiak Fiberglass Rebar LLC (US) • Marshall Composite Technologies LLC (US) • A.T.P Srl (Italy) • Fibrolux GmbH (Germany) • Tuf-Bar (US) • Armastek (US) • FiReP Group (France) • B&B FRP Manufacturing Inc. (Canada) • Sanskriti Composites Private Limited (India) • Antop Global Technology Co., Ltd. (China)
Research Coverage This report covers the global FRP rebar market and forecasts the market size until 2026.It includes the following market segmentation-By Fiber Type (Glass, Carbon and Basalt), Resin Type (Vinyl Easter, Epoxy and Others), Application (Highways, Bridges & Buildings; Marine Structurers & Waterfronts; Water Treatment Plants; and Others), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026.
Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global FRP rebar market.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways: 1. This report segments the global FRP rebar market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report helps stakeholders understand the pulse of the FRP rebar market and provides them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, expansion, and acquisition.
Reasons to buy the report: The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall FRP rebar market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
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