FRP Rebar Market Expected to Collect USD 344 Million by 2026
The report "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 - Global Forecast to 2026" 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.
Download PDF Brochure of the report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=77486355
Browse 250 market data Tables and 34 Figures spread through 199 Pages and in-depth TOC on "FRP Rebar Market”
FRP rebars are extremely lightweight, fatigue resistant, have higher tensile strength than steel, are nonmagnetic, and most importantly, are non-corrosive. They are also thermal and electric insulators. Though relatively expensive compared to traditional steel rebars, FRP rebars cut down the cost of maintenance for any project and provide additional benefits like more strength and easier installation during construction due to their high tensile strength and lightweight. FRP rebars are widely used in the construction of highways, bridges, buildings, marine structures and waterfronts, water treatment plants, MRI rooms, tunnels, smelters, and chemical plants. These rebars are not affected by external factors such as corrosion and harsh environmental conditions and increase the lifespan of any structure and maintains the structural integrity. Additionally, it is easier to transport and handle.
The highways, bridges & buildings application segment accounts for the largest share 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 increasing population worldwide with greater government spending and private investment in infrastructure is the key growth driver of this application segment.
North America to lead the FRP rebar market during the forecast period
North America is the largest market for FRP rebars in the world. The major players in the FRP rebar market in North America give each other tough competition and constantly innovate and develop new technology to produce high quality, high strength, and lightweight FRP rebars. The usage of FRP rebars is high in the North American region as government agencies have identified the advantage of FRP rebars over traditional alternatives like steel rebars. The FRP rebar market in the North American region has been driven by their application in highways, bridges, buildings, and marine structures & waterfronts.
Schöck Bauteile GmbH (Germany), Dextra Group (Thailand), Pultron Composites (New Zealand), Pultrall Inc. (Canada), Composite Group Chelyabinsk (Russia), Owens Corning (US), FiReP Group (Switzerland), and Sireg Geotech S.r.l. (Italy) are the key players in the FRP rebar market. These players have taken different organic and inorganic developmental strategies over the past few years.
Pultron Composites, headquartered in Gisborne, New Zealand is involved in the development and manufacture of high-performance, fiber-reinforced polymer (FRP) rebars and is one of the key players in the market. As part of the Future Investment Initiative, a memorandum of understanding in the field of energy was signed between Pultron Composites and oil giant Saudi Aramco for a value of 93.75 million riyals (USD 25m).
Owens Corning is another upcoming and important player in the FRP Rebar market. It is comparatively new in the FRP rebar market but due to its large presence worldwide can become an important player in the future. It acquired Aslan FRP, the concrete reinforcement business of Hughes Brothers Inc. Aslan FRP makes and markets glass and carbon fiber-reinforced composite rebars which are used to reinforce concrete in new and restorative infrastructure projects such as roads, bridges, marine structures, buildings and tunnels. With this acquisition, the company strengthened and expanded its geographical presence in the FRP rebar market.
Early buyers will receive 10% free customization on this report.
Don't miss out on business opportunities in FRP Rebar Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow.
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=77486355
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.
Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
Comments
Post a Comment