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FRP Rebars Market 2019 analysis by trends, top key players & forecast to 2024

Author : Rahul Varpe | Published Date : 2019-05-07 

Europe FRP rebars market is projected to record a CAGR of more than 6.5% over the coming seven years. Growing renovation activities across the commercial and residential sectors along with high product applications in MRI rooms, cable ducts, radio frequency field, and high-voltage substations are expected to boost the industry size. UK and Germany are predicted to push the regional development.

Asia Pacific FRP rebars market is slated to grow at a rate of 8% over the years to come, owing to high product usage in the resistant edifice constructions along with the renovations of old structures. China, Japan, and India are likely to drive the regional revenue. MEA FRP rebars industry is projected to register an annual growth of 8.5% over 2016-2024, owing to strict regulatory compliances over the construction of new roads, railways, and airports as a result of growing safety concerns. Saudi Arabi and UAE are anticipated to be the major regional revenue pockets.

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Rising end-user preference for lightweight, anti-corrosive, non-abrasive, and robust reinforcements will upswing FRP Rebars Market development. Regional governments have been spending huge capital on construction & renovation activities. In addition, swift infrastructural developments to enhance the urban landscape and promote regional tourism will majorly boost FRP rebars industry trends.

For instance, Japan invested more than USD 738 billion in construction projects in 2015, while China allotted funds of over 1.7 trillion for infrastructural growth during that year. According to Global Market Insights, Inc., “Fiber reinforced polymer (FRP) rebars industry, worth USD 590 million in 2015, is expected to hit a targeted revenue of over USD 1.25 billion by 2024.”

FRP rebars find extensive applications in MRI rooms, bridges & buildings, marine structures & waterfronts, water treatment plants, and highways. FRP rebars market size in the marine structures & waterfronts sector is predicted to grow at a cumulative rate of more than 7% over the coming timeline. An increase in the number of projects for constructing waterfronts and ports near seas and rivers along with the development of waterways as an effective mode of goods transport facility will contribute toward the business expansion.

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

FRP rebars market revenue across water treatment plants sector, which was estimated at more than USD 50 million in 2015, is expected to witness a high surge over the coming years. Rise in the number of desalination plant projects and surge in the waste & water treatment plant constructions will impel the segment growth.

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Considering the geographical landscape, North America FRP rebars market is anticipated to record a CAGR of more than 7% over the coming seven years. Escalated spending on building new structures along with beneficial legislations supporting infrastructure growth will enlarge the business scope across the region. U.S. FRP rebars industry, which contributed USD 270 million toward North America FRP rebars industry revenue in 2015, is expected to make notable contributions toward the regional share in the future. The country had spent more than USD 1 trillion on construction ventures during 2015.

Of late, industry players are employing key business growth strategies such as product development, pricing, and strategic partnerships to increase their market share. Fibrolux GmbH, Hughes Brothers Inc., Sireg Geotech Srl, Technobasalt Invest LLC, Marshall Composites Technologies, BP Composites Limited, Neuvokas Corporation, Pultrall Inc., and Composite Rebar Technologies Incorporation are the major participants of FRP rebars market.

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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