AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

FRP Rebar Market by Fiber Type, Resin Type, Application and Region - Global Forecast to 2026 - ResearchAndMarkets.com

May 31, 2021 GMT

DUBLIN--(BUSINESS WIRE)--May 31, 2021--

The “Global FRP Rebar Market by Fiber Type (Glass, Carbon and Basalt), Resin Type (Vinyl Easter, Epoxy), Application (Highways, Bridges & Buildings; Marine Structurers & Waterfronts; Water Treatment Plants), and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

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.

ADVERTISEMENT

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

ADVERTISEMENT

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.

Market Dynamics

Drivers

  • Growth in Global Construction Industry
  • Increasing Demand for Lightweight, High Strength, and Non-Corrosive Rebars
  • Increasing Usage of FRP Rebars in Highways, Bridges, and Buildings
  • Increasing Demand for FRP Rebars in Marine Structures and Waterfronts

Restraints

  • Low Acceptance of FRP Rebars Among Construction Professionals
  • Limited Professional Experience Related to FRP Rebars in Emerging Markets

Opportunities

  • Growing Construction Industry in Emerging Markets
  • Increasing Usage of FRP Rebar in North America and Europe

Challenges

  • Low Adoption and Acceptance of FRP Rebars
  • Availability of Low-Cost Substitutes

Companies Mentioned

  • A.T.P Srl
  • Agni Fiber Boards Pvt. Ltd.
  • Antop Global Technology Co. Ltd.
  • ARC Insulation & Insulators Private Limited
  • Armastek Usa
  • Armatsek
  • B&B FRP Manufacturing Inc.
  • Black Bar
  • Composite Rebar Technologies
  • CSK Technologies
  • Dextra Group
  • Fibrolux GmbH
  • FiReP Group
  • Galen LLC
  • Kodiak Fiberglass Rebar LLC
  • Marshall Composite Technologies LLC
  • Meera Group
  • MRG Composites
  • Neuvokas Corporation
  • New Building Technologie
  • Owens Corning
  • Pultrall Inc.
  • Pultron Composites
  • Sanskriti Composites Private Limited
  • Schock Bauteile GmbH
  • Sireg Geotech S.R.L.
  • Technobasalt-Invest, LLC
  • Tuf-Bar
  • Unique Fiberglass and Composites
  • Viva & Co. Ghana Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/pwcnhp

View source version on businesswire.com:https://www.businesswire.com/news/home/20210531005097/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: OTHER MANUFACTURING MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 05/31/2021 06:05 AM/DISC: 05/31/2021 06:06 AM

http://www.businesswire.com/news/home/20210531005097/en