The fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 215.88 million in 2021 to US$ 421.02 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2022 to 2028.
As concrete is strong in compression and weak in tension, it is typically strengthened to create a building material that is strong in tension and compression. This reinforcement conventionally consists of steel due to its low cost, high strength, and high elasticity. However, steel corrosion could cost governments and asset owners billions of dollars in maintenance costs to replace or repair aging infrastructure. There are few alternatives for concrete reinforcing materials that can be used to prevent corrosion. For example, some manufacturers offer stainless steel rebars; however, fiber reinforced polymer rebar can serve as a non-corrosive alternative to conventional steel rebar for concrete reinforcement. These FRP rebars are made with the combination of polymer matrix with glass, carbon, or basalt fibers. These materials don't rust, are much lighter than steel, do not transmit heat, and are nearly four times stronger in tension. The anti-corrosion ability makes fiber reinforced polymer the best alternative for various construction applications such as retaining walls, piers, jetties, quays, caissons, decks, bulkheads, pilings, canals, offshore platforms, swimming pools, and aquariums.
Furthermore, in electromagnetically sensitive applications, glass and polymer nonconductive properties of FRP rebars won't transmit current, attract lightning strikes or interfere with the operation of nearby electrical devices. That makes fiber reinforced polymer a safer alternative to steel in aluminum and copper smelting plants, airport towers, nuclear power plants, specialized military structures, electrical and phone transmission towers, manholes containing electrical or phone equipment, and hospitals with magnetic resonance imaging (MRI) equipment.
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Fiber Reinforced Polymer (FRP) Rebars Market: Strategic Insights
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Fiber Reinforced Polymer (FRP) Rebars Market: Strategic Insights
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Market Insights
Growing Construction Activities Boost Fiber Reinforced Polymer (FRP) Rebars Market Growth
The construction industry is one of the major contributors to the economic development across the globe. It is flourishing rapidly due to increasing government support for infrastructure development across the globe. For instance, India planned to spend US$ 1.4 trillion on infrastructure through the National Infrastructure Pipeline from 2019 to 2023. In this pipeline, the government has included infrastructures such as power, bridges, dams, roads, and urban infrastructure development. Due to their advantageous material properties such as high strength, tolerance for frost and de-icing salts, and short installation times with minimum traffic interference, fiber reinforced polymers have matured to become valuable substitute building materials for bridge structures. Such initiatives of the governments of different countries are expected to boost the growth of the fiber reinforced polymer (FRP) rebars market
Resin Type Insights
Based on the resin type, the global fiber reinforced polymer (FRP) rebars market is segmented into vinyl ester, polyester, epoxy, and others. In 2021, the vinyl ester segment held the largest market share. Vinyl ester resins have high strength; high resistance to corrosion, fuels, chemicals, or vapors; and offer mechanical toughness. 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 fiber reinforced polymer rebar manufacturers use vinyl ester resin. The cost-effectiveness of vinyl ester has boosted the growth of the segment.
Owens Corning; KODIAC Fiberglass Rebar; MARSHALL COMPOSITE TECHNOLOGIES, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.;PULTRALL, Inc.; Schock Bauteile GmbH; and Dextra Group are among the major players operating in the globalfiber reinforced polymer(FRP) rebars market. The leading players adopt strategies such as mergers and acquisitions and product launches to expand their geographic presence and clientele. For instance, Pultron Composites established a partnership with Saudi Aramco, Saudi Arabia's leading oil company, to increase its glass fiber reinforced polymer (GFRP) rebar production facilities in the country.
Fiber Reinforced Polymer FRP Rebars Fiber Reinforced Polymer (FRP) Rebars Market Regional Insights
Fiber Reinforced Polymer (FRP) Rebars Market Regional Insights
The regional trends and factors influencing the Fiber Reinforced Polymer (FRP) Rebars Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fiber Reinforced Polymer (FRP) Rebars Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Fiber Reinforced Polymer (FRP) Rebars Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 215.88 Million |
| Market Size by 2028 | US$ 421.02 Million |
| Global CAGR (2021 - 2028) | 10.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Fiber Reinforced Polymer (FRP) Rebars Market Players Density: Understanding Its Impact on Business Dynamics
The Fiber Reinforced Polymer (FRP) Rebars Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fiber Reinforced Polymer (FRP) Rebars Market are:
- Owens Corning
- KODIAC Fiberglass Rebar
- MARSHALL COMPOSITE TECHNOLOGIES, LLC.
- TUF-BAR
- Armastek USA
Disclaimer: The companies listed above are not ranked in any particular order.
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Report Spotlights
- Progressive trends in the fiber reinforced polymer (FRP) rebars industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global fiber reinforced polymer (FRP) rebars market from 2022 to 2028
- Estimation of the demand for fiber reinforced polymer (FRP) rebars
- Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for fiber reinforced polymer (FRP) rebars
- Market trends and outlook, and factors driving and restraining the global fiber reinforced polymer (FRP) rebars market growth
- Understanding the strategies that underpin commercial interest with regard to the global fiber reinforced polymer (FRP) rebars market growth, aiding in the decision-making process
- Global fiber reinforced polymer (FRP) rebars market size at various nodes of market
- Detailed overview and segmentation of the global fiber reinforced polymer (FRP) rebars market, and its industry dynamics
- Global fiber reinforced polymer (FRP) rebars market size in various regions with promising growth opportunities
The " Fiber Reinforced Polymer (FRP) Rebars Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry, focusing on the fiber reinforced polymer (FRP) rebars market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The fiber reinforced polymer (FRP) rebars market is segmented into resin type, fiber type, application, and geography. Based on resin type, the market is segmented into vinyl ester, polyester, epoxy, and others. Based on fiber type, the market is segmented into glass fiber composites, carbon fiber composites, and basalt fiber composites. Based on application, the market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, North America dominated the fiber reinforced polymer (FRP) rebars market. However, Asia Pacific is expected to register the highest CAGR in the market during the forecast period.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Resin Type, Fiber Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
In 2021, North America accounted for the largest share of the global fiber reinforced polymer (FRP) rebars market. Increasing government spending on infrastructure development and increased adoption of FRP rebars in construction led to the dominance of North America in 2021.
The major players operating in the fiber reinforced polymer (FRP) rebars market are Owens Corning; KODIAC Fiberglass Rebar; Marshall Composite Technologies, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.; Pultrall, Inc.; Schock Bauteile GmbH; and Dextra Group.
In 2021, the vinyl ester segment held the largest market share. Vinyl ester resins have high strength, high resistance to corrosion, and resistance to fuels, mechanical toughness, 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 FRP rebar manufacturers use vinyl ester resin. The cost-effectiveness of vinyl ester has led to the segment's dominance in 2021.
In 2021, the highway bridge and construction held the largest market share. Growing demand for restoration and strengthening of the existing deficient structures, along with increasing transportation accompanied by rapid industrialization and urbanization in the emerging economies, has positively influenced the product penetration leading to the dominance of the highway bridge and construction segment in 2021.
Fiber reinforced polymer rebar is a non-corrosive alternative for steel rebar in concrete reinforcement. Advanced thermal compatibility also provides zero stress while responding to temperature changes, which is expected to positively influence the global fiber reinforced polymer (FRP) rebars market during the forecast period. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs which is slated to favor its demand.
During the forecast period, the basalt fiber composites segment is expected to be the fastest-growing segment. Basalt fiber composite is a new alternative to conventionally used fibers such as glass fiber composite, and some extent, carbon fiber composite. These are characterized by superior resistance against low and high temperatures. Moreover, an increase in the use of natural fiber composites such as basalt fiber in automotive & transportation, construction & infrastructure, electrical & electronics, and other end-use industries is expected to propel the growth of the basalt fiber composites demand.
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The List of Companies - Fiber Reinforced Polymer (FRP) Rebars Market
- Owens Corning
- KODIAC Fiberglass Rebar
- MARSHALL COMPOSITE TECHNOLOGIES, LLC.
- TUF-BAR
- Armastek USA
- Pultron Composites
- FiRep Inc.
- PULTRALL, Inc.
- Schock Bauteile GmbH
- Dextra Group
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