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Fiber Reinforced Polymer (FRP) Rebar Market Report 2019 | Regional Analysis & Growth Forecast to 2024

Author : Rahul Varpe | Published Date : 2019-09-17 

Global Market Insights, Inc present the report on global Fiber Reinforced Polymer (FRP) Rebar Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2024.

Growing construction spending along with rising infrastructure development in numerous region globally will drive the industry growth. Increasing construction of bridges, highways, building and water treatment plants are the factors positively influencing the product penetration.

Rising restoration needs particularly for old building and bridges will enhance the product scope. Shifting preference towards durable, lightweight and non-corrosive reinforcements coupled with good electric and thermal insulation properties will drive the Fiber Reinforced Polymer (FRP) Rebar Market growth.

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Advancement in technologies, materials and product designs are the major factors fuelling the industry growth. Shift in government focus towards infrastructure development including the construction of parking areas, railings, walls, garages, columns, floor slabs, and decks will support the Fiber Reinforced Polymer (FRP) Rebar Market revenue.

Fiber reinforced polymer rebars market is led by highways, bridges & buildings due to growing construction and restoration activities. Highways, bridges & building was worth over USD 460 million in 2015. Rapid urbanization and industrialization mainly in developing countries will drive the Fiber Reinforced Polymer (FRP) Rebar Market.

High application scope in water treatment plants, MRI rooms and marine structures will propel the industry . Prevention from cracks caused due to the chlorine and alkali present in sea water has encouraged the product scope in marine structures. High durability of the fiber reinforced polymer rebars along with leakage & crack control properties acts as an ideal reinforcement material for underwater applications.

Glass fiber composites dominate the industry share accounting for more than 85% in 2015. Reduced possibilities of acid and alkali attacks coupled with lightweight and easy handling properties have encouraged the industry growth.

Basalt composites are the fastest growing product. Corrosion resistance, easy availability, low price, resistance to hostile environment and magnetic transparency are the major properties enhancing the product penetration.

  • FRP Rebar Market By Resin
    • Polyester
    • Vinyl ester
  • FRP Rebar Market By Product
    • Glass fiber composites
    • Aramid fiber composites
    • Basalt fiber composites
    • Carbon fiber composites
  • FRP Rebar Market By Application
    • Marine structures & waterfronts
    • Highways, bridges & buildings
    • Water treatment plants
    • MRI Rooms
    • Others

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Polyester fiber reinforced polymer rebars market was valued over USD 460 million in 2015. Evolution as a substitute for epoxy or stainless steel in construction industry has positively influenced the product demand. Vinyl ester resin has excellent corrosion resistivity against chemicals, vapours and fuels accompanied by high tensile strength and durability.

North America, led by the U.S. was valued over USD 270 million in 2015. Stringent government regulations for human safety in construction industry will have a positive outlook in this region.

Europe, dominated by Germany and UK fiber reinforced polymer rebars market is growing substantially owing to increased restoring and renovation activities for both commercial and residential buildings. Increased government spending on infrastructure development including bridges, roads and building will drive the regional demand.

Asia-Pacific will witness growth around 8% up to 2024. Increasing construction activities in emerging nations including, China and India will enhance fiber reinforced polymer rebars market. Increasing government support for infrastructure activities will further fuel the industry growth in this region.

Global Fiber Reinforced Polymer (FRP) Rebar Market is at growth stage focusing on new product development. Several players are engaged in expanding their product portfolio to sustain in the industry. Key participants include Marshall Composites Systems, BP Composites, Hughes Brothers, Putrall, Fibrolux, Sireg Geotech, CRT and Technobasalt Invest LLC.

Read more news - https://www.benzinga.com/press-releases/19/09/wr14441745/apac-pressure-sensitive-tapes-labels-market-to-achieve-7-growth-over-2019-2024

https://www.benzinga.com/press-releases/19/09/wr14441746/latam-wood-activated-carbon-market-by-2024-usd-30-million-opportunity

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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