Fiber Reinforced Polymer Rebar Market to Hit USD 454.5 Million | Market Size, Share, Trends, Analysis and Forecast 2028

Fiber Reinforced Polymer Rebar Market

According to the most recent report by Emergen Research, the global fiber reinforced polymer (FRP) rebar market size reached USD 171.3 Million in 2020 and is projected to grow at a revenue CAGR of 13.2% during the forecast period. Increasing government spending on construction and maintenance in emerging nations, along with an increase in the use of FRP rebar in building projects, are some of the main drivers propelling the expansion of the global fiber reinforced polymer (FRP) rebar market.

In the near future, rising demand for FRP rebars in waterfront construction and maritime constructions is anticipated to further boost market revenue growth. Inadequate climatic conditions, steel corrosion, abrasions, and sulphate reactions can severely damage marine structures. Demand for FRP rebar is rising for shoreline applications and maritime constructions because of its high fatigue endurance, resistance to rupture, and high reinforcing capabilities. High corrosion resistance, leakage control, and fracture control properties have aided in the advancement of seawater application research and development.

Impact of COVID-19 on global fiber reinforced polymer (FRP) Rebar market

Due to the COVID-19 pandemic, the market for FRP Rebar is anticipated to experience a drop in 2020. The entire world has suffered because of this devastating illness, but mainly North America and Europe. Companies shut down their operations and production facilities, and the government stopped construction activity to stop the virus from spreading further. This has caused a decrease in the use of FRP Rebar in applications such as buildings, bridges, and waterfronts, as well as water treatment facilities and other infrastructure.

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Some Key Highlights in the Report

Revenue for the carbon fibre segment is anticipated to increase at a very quick CAGR throughout the forecast period. It is being used increasingly frequently to build parapets, decks, pillars, parking structures, and bridges due to its high strength and lightweight characteristics. The ability of such fibre to carry greater loads, improve tensile strength, and resist chemical and chloride ions should increase demand for it.

Over the course of the projected period, the MRI rooms category is anticipated to post a relatively strong rate of revenue growth. The operation of MRI machines may be hampered by the electromagnetic field produced by conventional steel reinforcement. The use of FRP rebars in electromagnetic isolation applications has increased thanks to key characteristics like magnetic transparency, heat resistance, and electrical resistance.

Over the projected period, it is anticipated that the North American market would account for the biggest revenue share. The market expansion in this region is being driven by increased construction expenditure as a result of the quick development of infrastructure in nations like the United States, Canada, and Mexico.

Some major companies in the market include Nycon Corporation, Pultron Composites Ltd, Owens Corning, Kodiak Fiberglass Rebar LLC, Sireg Geotech S.r.l., Composite Group Chelyabinsk, Dextra Group, Hughes Brothers Inc., FiReP, Sanskriti Composites Pvt. Ltd.

Emergen Research has segmented the global fiber reinforced polymer (FRP) rebar on the basis of fiber type, resin type, application, and region:

Fiber Type Outlook (Revenue, USD Million; 2018–2028)

  • Basalt Fiber
  • Glass Fiber
  • Carbon Fiber
  • Aramid Fiber

Resin Type Outlook (Revenue, USD Million; 2018–2028)

  • Epoxy
  • Polyester
  • Vinyl Easter
  • Others

Application Outlook (Revenue, USD Million; 2018–2028)

  • Water Treatment Plants
  • Highways, Bridges & Buildings
  • Marine Structures & Waterfronts
  • Others

Regional Outlook (Revenue, USD Million; 2018–2028)

  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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