The FRP Rebar market size is forecast to reach $1.1 billion by 2027, after growing at a CAGR of 12.1% during 2022-2027. Fiber reinforced polymer rebar or FRP rebar is a non-corrosive alternative for steel rebar in concrete reinforcement. It comprises of two elements namely a fiber and a matrix resin. The fiber used is usually carbon, aramid, basalt, or glass whereas matrix resin is composed of polyester, epoxy, or vinyl ester. FRP rebar is a spiral wrapped fiberglass rod which is light in weight and easy to handle as well. Also, it is electrically and thermally non-conductive, efficiently resists heat transfer and possesses greater tensile strength than steel. Globally, an increase in usage of non-corrosive rebars and the low cost of FRP rebars across its life cycle are the prime growth drivers of FRP rebar.
The report: “FRP Rebar Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the FRP Rebar Market Industry.
Excellent corrosion resistance against fuels, vapors, or chemicals along with high durability and tensile strength are the stimulating properties enhancing the vinyl ester resin demand. Large formulations availability by varying resin, reinforcement, and additive types will create new avenues for industry growth.
The supply of water treatment chemicals shall witness shortages due to the prevalence of COVID-19 at a pandemic level. The industrial sector as a whole shall register an increase in demand for dewatering equipment, water treatment systems and membranes due to stipulated public health guidelines and a greater need for a sanitary environment.
North America dominated the FRP rebar market with a share of more than XX%, followed by the Asia Pacific and Europe. A huge number of wastewater treatment plants are the key factors responsible for the growth of the FRP rebar market in North America.
For instance, according to the American Society of Civil Engineers (ASCE), in 2018, 240 million Americans i.e. 76% of the population relied on the 14,748 treatment plants for wastewater sanitation. By 2032, it is expected that 56 million more people will connect to centralized treatment plants, rather than private septic systems. High government spending on infrastructure development, for instance the construction of the world's tallest road bridge: the Millau Viaduct in France has supported the product consumption in Europe. High tensile strength and lightweight properties have resulted in increasing product consumption in the construction of earthquake resistant buildings and restoration of old structures particularly in Japan. High infrastructure development in the recent years particularly in UAE with significant projects has enhanced the product penetration.
Greater productivity, efficiency and selective application in construction are major factors driving global fiber reinforced polymer rebars market growth. FRP rebars also offer higher tensile strength and are lightweight in nature thereby increasing global market demand. Non-magnetic properties and great fatigue endurance are also expected to contribute to the development of the FRP rebar market. Increased global construction spending and rising acceptance of FRP rebars for reinforcement purposes are also anticipated to drive the global market growth. FRP rebars also bond easily with concrete irrespective of pH, moisture and other external factors. Advanced thermal compatibility also offers zero stress while responding to temperature changes, which is expected to have a positive influence on the global FRP rebar market over the forecast period. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs which is slated to favor its demand.
Few constraints such as higher initial capital requirements, limited professional experience with raw materials and inadequate data regarding long-term field performance are expected to hamper global FRP rebar market growth. Unlike conventional materials, FRP rebars do not yet possess standard codes or specifications regarding their application, which is also likely to impede the global market growth.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the FRP rebar market. In 2019, the market of FRP rebar has been consolidated by the top five players accounting for xx% of the share. Major players in the FRP rebar market are FireP International AG, BP Composites Ltd., Pultrall Inc., Schoeck, Pultron Composites, Armastek, Dextra Group, Hughes Brothers and Kodiak Fiberglass Rebar LLC. among others.
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Report Coverage
The report: “FRP Rebar Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the FRP Rebar Market Industry.
- By Resin Type: Vinyl Ester, Polyester and Others.
- By Fiber Type: Glass Fiber Composites, Aramid Fiber Composites, Basalt Fiber Composites, Carbon Fiber Composites and Others.
- By Application: Marine Structures & Waterfronts, Highways, Bridges & Buildings, Water Treatment Plants, MRI Rooms and Others.
- By Geography: North America, South America, Europe, APAC, and RoW
Key Takeaways
- New product developments and increasing investments in research and development of FRP rebar are expected to drive the growth of this market.
- Among application, the highways, bridges & buildings segment is projected to lead the solvents market during the forecast period.
- North America dominated the FRP Rebar market.
- By Resin Type - Segment Analysis
Excellent corrosion resistance against fuels, vapors, or chemicals along with high durability and tensile strength are the stimulating properties enhancing the vinyl ester resin demand. Large formulations availability by varying resin, reinforcement, and additive types will create new avenues for industry growth.
- By Fiber Type - Segment Analysis
- By Application - Segment Analysis
The supply of water treatment chemicals shall witness shortages due to the prevalence of COVID-19 at a pandemic level. The industrial sector as a whole shall register an increase in demand for dewatering equipment, water treatment systems and membranes due to stipulated public health guidelines and a greater need for a sanitary environment.
Geography- Segment Analysis
North America dominated the FRP rebar market with a share of more than XX%, followed by the Asia Pacific and Europe. A huge number of wastewater treatment plants are the key factors responsible for the growth of the FRP rebar market in North America.
For instance, according to the American Society of Civil Engineers (ASCE), in 2018, 240 million Americans i.e. 76% of the population relied on the 14,748 treatment plants for wastewater sanitation. By 2032, it is expected that 56 million more people will connect to centralized treatment plants, rather than private septic systems. High government spending on infrastructure development, for instance the construction of the world's tallest road bridge: the Millau Viaduct in France has supported the product consumption in Europe. High tensile strength and lightweight properties have resulted in increasing product consumption in the construction of earthquake resistant buildings and restoration of old structures particularly in Japan. High infrastructure development in the recent years particularly in UAE with significant projects has enhanced the product penetration.
Drivers - FRP Rebar Market
Increasing application of FRP rebar in construction
Greater productivity, efficiency and selective application in construction are major factors driving global fiber reinforced polymer rebars market growth. FRP rebars also offer higher tensile strength and are lightweight in nature thereby increasing global market demand. Non-magnetic properties and great fatigue endurance are also expected to contribute to the development of the FRP rebar market. Increased global construction spending and rising acceptance of FRP rebars for reinforcement purposes are also anticipated to drive the global market growth. FRP rebars also bond easily with concrete irrespective of pH, moisture and other external factors. Advanced thermal compatibility also offers zero stress while responding to temperature changes, which is expected to have a positive influence on the global FRP rebar market over the forecast period. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs which is slated to favor its demand.
Challenges - FRP Rebar Market
High capital requirement
Few constraints such as higher initial capital requirements, limited professional experience with raw materials and inadequate data regarding long-term field performance are expected to hamper global FRP rebar market growth. Unlike conventional materials, FRP rebars do not yet possess standard codes or specifications regarding their application, which is also likely to impede the global market growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the FRP rebar market. In 2019, the market of FRP rebar has been consolidated by the top five players accounting for xx% of the share. Major players in the FRP rebar market are FireP International AG, BP Composites Ltd., Pultrall Inc., Schoeck, Pultron Composites, Armastek, Dextra Group, Hughes Brothers and Kodiak Fiberglass Rebar LLC. among others.
Product Launch/ Acquisition
- In December 2019, Pultron Composites signed MoU with oil giant, Saudi Aramco. According to Saudi Aramco’s internal analysis, the GFRP rebar is qualified to replace 10% of Saudi Aramco’s total steel demand.
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Table of Contents
1. FRP Rebar Market - Overview
2. FRP Rebar Market - Executive summary
3. FRP Rebar Market
4. FRP Rebar Market Forces
5. FRP Rebar Market - Strategic analysis
6. FRP Rebar Market - By Resin Type (Market Size -$Million / $Billion)
7. FRP Rebar Market - By Fiber Type (Market Size -$Million / $Billion)
8. FRP Rebar Market - By Application (Market Size -$Million / $Billion)
9. FRP Rebar - By Geography (Market Size -$Million / $Billion)
10. FRP Rebar Market - Entropy
11. FRP Rebar Market Company Analysis
12. FRP Rebar Market - Appendix
13. FRP Rebar Market - Methodology
Methodology
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