Fiber Reinforced Polymer Composite Rebar Market By Fiber Type, By Resin Type, By Application : Global Opportunity Analysis and Industry Forecast, 2023-2032
The global FRP rebar market is anticipated to reach $1,756.2 million by 2032, growing from $654.5 million in 2022 at a CAGR of 10.6% from 2023 to 2032.
Fiber reinforced polymer (FRP) rebar stands as a revolutionary construction material, offering a robust and corrosion-resistant alternative to conventional steel reinforcement. Comprising high-strength fibers like glass or carbon within an epoxy resin matrix, FRP rebar offers advantages over steel in several aspects. Its major advantage lies in corrosion resistance, a quality missing in steel, especially in harsh environments. This significantly prolongs the lifespan of reinforced concrete structures, reducing maintenance costs and enhancing structural integrity. This feature makes FRP rebar especially well-suited for infrastructure projects in coastal regions or areas with aggressive environmental conditions.
The surge in demand for durable and sustainable construction materials, along with concerns over steel drawbacks like corrosion and weight issues, has boosted the widespread adoption of fiber reinforced polymer (FRP) rebar. Both governments and private investors are increasingly recognizing its long-term benefits in construction projects, attributed to its resilience against harsh environmental conditions and corrosive elements. This resilience ensures the longevity and structural integrity of infrastructural development. The lightweight nature of FRP rebar facilitates easier handling during construction, reducing labor costs, and expediting project timelines. As the construction industry places a growing emphasis on sustainability, FRP rebar's eco-friendly characteristics, including rust resistance and the potential for recycling, further enhance its appeal. This shift towards FRP rebar marks a significant step in addressing the challenges posed by traditional steel, aligning with the industry's commitment toward sustainable and resilient construction practices.
The construction industry faces a persistent challenge with the high cost of fiber-reinforced polymer (FRP) rebar, particularly in the case of glass fiber-reinforced polymer (GFRP). Despite a gradual decrease in GFRP costs over the years, it remains notably more expensive than traditional steel reinforcement. This cost disparity poses a significant constraint for contractors and engineers aiming to control construction expenses. On average, opting for GFRP rebar is anticipated to result in a 10-15% higher cost compared to its steel counterparts. This financial burden hampers the widespread adoption of GFRP, even as its benefits, such as corrosion resistance and durability, become increasingly recognized. As the industry struggles with this economic challenge, ongoing efforts to enhance production efficiency and reduce manufacturing costs may play a pivotal role in promoting the broader acceptance of GFRP in construction projects.
The increasing use of fiber reinforced polymer (FRP) rebar in seismic areas is anticipated to lead to substantial market expansion in the future. Seismic regions, marked by intense tectonic activity, pose a threat to conventional construction materials, making structures susceptible to damage during earthquakes. In tackling this issue, the construction sector has turned to alternative materials like FRP rebar due to its exceptional qualities in strength, durability, and corrosion resistance. FRP rebar's adoption is driven by its ability to withstand seismic forces, reducing the risk of structural failure during earthquakes. Its high tensile strength, lightweight nature, and resistance to corrosion make it an attractive choice for reinforcing concrete structures in earthquake-prone areas. This shift reflects the industry's commitment toward enhancing seismic resilience through innovative materials. As the demand for safer and more durable construction solutions in seismic zones continues to rise, the demand for FRP rebar is also expected to increase.
The key players profiled in this report include Hughes Brothers Inc, Marshall Composite Technologies LLC, Kodiak Fiberglass Rebar LLC, International Grating Inc., BP Composites Ltd., Pultron Composites, Dextra Group, Owens Corning, Exel Composites, and FiReP Group. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and product launches.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fiber reinforced polymer composite rebar (frp rebar) market analysis from 2022 to 2032 to identify the prevailing fiber reinforced polymer composite rebar (frp rebar) market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the fiber reinforced polymer composite rebar (frp rebar) market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global fiber reinforced polymer composite rebar (frp rebar) market trends, key players, market segments, application areas, and market growth strategies.
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Consumer Buying Behavior Analysis
Investment Opportunities
Product Benchmarking / Product specification and applications
Scenario Analysis & Growth Trend Comparison
Supply Chain Analysis & Vendor Margins
Upcoming/New Entrant by Regions
Technology Trend Analysis
Consumer Preference and Product Specifications
Go To Market Strategy
Market share analysis of players by products/segments
New Product Development/ Product Matrix of Key Players
Regulatory Guidelines
Strategic Recommendations
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Brands Share Analysis
Expanded list for Company Profiles
Historic market data
Import Export Analysis/Data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
List of customers/consumers/raw material suppliers- value chain analysis
Market share analysis of players at global/region/country level
SWOT Analysis
Key Market Segments
By Resin Type
Vinyl Ester
Epoxy
Others
By Fiber Type
Glass Fiber
Aramid Fiber
Basalt Fiber
Carbon Fiber
Others
By Application
Highways
Bridges and Buildings
Marine Infrastructures
Water Treatment Facilities
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
UAE
South Africa
Argentina
Rest of LAMEA
Key Market Players:
Hughes Brothers Inc
Marshall Composite Technologies LLC
Kodiak Fiberglass Rebar LLC
International Grating Inc.
BP Composites Ltd.
pultron composites ltd
dextra group plc
Owens Corning
exel composites
FiReP Group
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Market Share Analysis
3.6. Brand Share Analysis
3.7. Value Chain Analysis
3.8. Regulatory Guidelines
3.9. Key Regulation Analysis
3.10. Patent Landscape
CHAPTER 4: FIBER REINFORCED POLYMER COMPOSITE REBAR (FRP REBAR) MARKET, BY FIBER TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Glass Fiber
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Aramid Fiber
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Basalt Fiber
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Carbon Fiber
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Others
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
CHAPTER 5: FIBER REINFORCED POLYMER COMPOSITE REBAR (FRP REBAR) MARKET, BY RESIN TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Vinyl Ester
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Epoxy
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Others
5.4.1. Key market trends, growth factors and opportunities