North America Fiber Reinforced Polymer (FRP) Rebars Market to Grow at a CAGR of 10.5% to reach US$ 158.56 million from 2021 to 2028

The North America fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 86.98 million in 2022 to US$ 158.56 million by 2028; it is expected to grow at a CAGR of 10.5% from 2022 to 2028.

Increasing corrosion issues in conventional reinforcement techniques have enhanced product penetration in the infrastructure repairing industry. FRP rebars are composite materials and a noncorrosive and nonconductive alternative to steel for reinforcing structural concrete members. FRP rebars are manufactured using a variety of fibers in a polymer matrix. Glass fiber is the most popular; however, basalt and carbon fibers are also used in FRP rebars. The matrix is a thermoset compound, usually epoxy or vinyl ester, although other polymer matrices are also used. Glass, as a component, boost tensile strength, whereas other fibers provide increased durability and resistance to buckling and corrosion.

Increasing government spending on the construction of highways, bridges, and buildings and renovation of buildings with structural deficiencies are expected to boost the fiber reinforced polymer (FRP) rebars industry growth. Negative thermal conductivity offers zero stress while responding to temperature changes, which is expected to positively influence the North America fiber reinforced polymer (FRP) rebars market over the forecast period. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs, which contribute to the product demand. Moreover, increasing acceptance and a corresponding demand for FRP rebars from North American countries such as the US and Canada are expected to fuel the market growth.

Market Insights

Proliferation of Construction Industry

The construction industry is one of the major contributors to the economic development of North America. It is flourishing rapidly due to increasing government support for infrastructure development across North America. For instance, in 2021, the government of Canada and Alberta invested US$ 187 million in highway development projects. Moreover, the Mexican government announced the initiative to attract foreign investors for 16 new highway projects with a total investment of US$ 4.6 billion in December 2020. FRP rebar can lower costs by reducing the workforce, decreasing installation charges, reducing the need for maintenance, and having a longer lifespan than many metals. It also has a high bearing impact threshold, which minimizes damage while loading or unloading material. Such benefits of FRP rebars and increasing government initiatives for infrastructure development are propelling the growth of the North America fiber reinforced polymer (FRP) rebars market.

Resin Type-Based Insights

Based on resin type, the North America 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 high 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 FRP rebar manufacturers use vinyl ester resin. The cost-effectiveness of vinyl ester has boosted the growth of the segment.

North America Fiber Reinforced Polymer (FRP) Rebars Market Share, by Resin Type, 2021 and 2028

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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 North America fiber 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, Owens Corning established a joint venturing agreement with Pultron Composites Ltd., a manufacturer of pultruded fiber reinforced polymers, to build its composite materials' manufacturing capabilities. The agreement helps the company in increasing the reach of products such as PINKBAR+Fiberglas Rebar and MATEENBAR Fiberglas Rebar in the US market.

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 North America fiber reinforced polymer (FRP) rebars market from 2022 to 2028
• Estimation of the demand for fiber reinforced polymer (FRP) rebars
• Porters 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 North America fiber reinforced polymer (FRP) rebars market growth
• Understanding the strategies that underpin commercial interest with regard to the North America fiber reinforced polymer (FRP) rebars market growth, aiding in the decision-making process
• North America fiber reinforced polymer (FRP) rebars market size at various nodes of market
• Detailed overview and segmentation of the North America fiber reinforced polymer (FRP) rebars market, and its industry dynamics

North America fiber reinforced polymer (FRP) rebars market size in various regions with promising growth opportunities The "North America Fiber Reinforced Polymer (FRP) Rebars Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the North America fiber reinforced polymer (FRP) rebars market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The North America fiber reinforced polymer (FRP) rebars market is segmented into resin type, fiber type, and application. Based on resin type, the market is segmented into vinyl ester, polyester, epoxy, and others. Based on fiber type, the market is categorized 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. In 2021, the highway bridge and construction segment held the largest market share, and it is expected to register the highest CAGR during the forecast period.  

Company Profiles

• Owens Corning       
• KODIAC Fiberglass Rebar    
• MARSHALL COMPOSITE TECHNOLOGIES, LLC       
• TUF-BAR      
• Armastek USA        
• Pultron Composites           
• FiRep Inc.    
• PULTRALL, Inc.       
• Schock Bauteile GmbH       
• Dextra Group

Report Scope

North America Fiber Reinforced Polymer (FRP) Rebars Market Regional Insights

The regional trends and factors influencing the North America Fiber Reinforced Polymer (FRP) Rebars Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses North America Fiber Reinforced Polymer (FRP) Rebars Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

North America Fiber Reinforced Polymer (FRP) Rebars Market Report Scope

North America Fiber Reinforced Polymer (FRP) Rebars Market Players Density: Understanding Its Impact on Business Dynamics

The North America 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 North America Fiber Reinforced Polymer (FRP) Rebars Market are:

1. Owens Corning
2. KODIAC Fiberglass Rebar
3. MARSHALL COMPOSITE TECHNOLOGIES, LLC.
4. TUF-BAR
5. Armastek USA

Disclaimer: The companies listed above are not ranked in any particular order.