The fiber reinforced polymer (FRP) rebar market is deemed to have an active growth during the forecast period. The composite material produced from a polymer reinforced with the fibers is usually termed as fiber reinforced polymer rebar. The fibers used for the process are mainly glass, basalt, aramid and carbon. An epoxy, vinyl ester or polyester thermosetting plastic are the polymers used in manufacturing process of these fiber reinforced polymer rebar. The manufacturing process of these materials involves two various methods. Due to its flexibility and easy molding nature, it can produce desired shapes which are suitable for the application.
FRP Rebar Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, FRP Rebar Market was valued at USD 425 Million in 2016 and projected to reach USD 1.08 billion by 2025 growing at a CAGR of 8% during the forecast period 2016 to 2025.
FRP Rebar Market Growth Drivers and Restraints:
The growing constructional projects along with increasing utilization of these materials in the construction of highways to develop smart city is key driving factor for the market. The government initiative in investing huge amount on the construction of bridges which enhances the life time is also additionally outshining the growth of the market.
However, the strict rules and regulations for the use of FRP rebar materials are quietly declining the growth of the market. The cost for installation and maintenance of these products are little expensive and considerably a challenging factor in this market.
The on-going efforts in developing the features of the FRP rebar with the innovative techniques are lucratively showing up the huge opportunities for the growth of the market. The increasing purchase sales of the final products which are manufactured by these materials in water treatment plants are creating a chance for the market to grow.
Geographical Analysis of FRP Rebar Market:
Geographically, the FRP rebar market is segmented into North America, Asia pacific, Europe, and Middle East and Africa. North America is dominating the highest shares of the market, owing to rise in the construction of buildings and attracting customers by constructing innovative infrastructures in this region. Asia Pacific and Europe are anticipated to hold the highest shares of the market with the increased demand from the marine structures and waterfronts. Middle East and Africa are witnessed to have significant shares in the foremost time span.
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Key Players of FRP Rebar Market:
The prominent players in the global FRP rebar market are Marshall Composites Systems, BP Composites, Hughes Brothers, Putrall, Fibrolux, Sireg Geotech, CRT and Technobasalt Invest LLC.
FRP Rebar Market Segmentation:
- Road Building
- Bridges & Port
- Underground Construction
- North America
- South America
- Asia Pacific
- Middle East and Africa
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