세계 섬유 강화 폴리머 철근 시장 규모는 2023년 1억 1,100만 달러에서 2031년까지 2억 3,967만 달러에 달할 것으로 예상되며, 예측 기간인 2024년부터 2031년까지 연평균 10.1% 성장할 것으로 예상됩니다. 시장에서 건축 및 건설 산업이 큰 비중을 차지하고 있습니다. 건설 제품 협회가 발표한 최신 예측 기간에 따르면 세계 건설 산업은 2022년 2.8%의 높은 연간 성장률을 기록했습니다.
섬유 강화 폴리머(FRP) 철근의 우수한 품질에 대한 규제 표준이 증가함에 따라 제품 채택이 가속화되고 시장 성장이 촉진될 것입니다. 예를 들어, 2023년 5월 국제 표준화 단체인 ASTM International은 FRP 철근을 인프라 응용 분야에 통합하는 D8505 표준을 승인했습니다.
건축 및 건설 활동의 성장은 고층 건물 개발 증가, 노후화된 인프라 교체에 대한 중요성, 기술 혁신, 상업용 건설 프로젝트에 대한 투자 급증 등의 결정적 요인에 기인합니다. 따라서, 건설 활동의 호황은 내화학성을 보장하는 유리(GFRP) 철근 및 탄소(CRFP) 철근과 같은 섬유 강화 폴리머 철근의 채택을 촉진하여 시장 성장을 가속화하고 있습니다. 또한, 국제 무역 증가로 인해 벌크선, 유조선, 컨테이너선 등 다양한 상업용 선박에 대한 수요가 증가하고 있습니다. 이에 따라 전 세계적으로 선박 건조 활동이 증가하고 있으며, 이는 해양 구조물의 수명을 연장하는 섬유 강화 폴리머 철근에 대한 수요를 촉진하고 시장 성장을 가속하고 있습니다.
또한, 폐수 처리와 관련된 엄격한 규제 기준과 새로운 수처리 플랜트 개발, 물 보존 및 재사용의 필요성에 대한 인식이 높아짐에 따라 섬유 강화 폴리머 철근 시장 성장에 유리한 기회를 창출하고 있습니다. 대표적인 예로 미국 버몬트 주 웨이트필드의 폐수 처리 공장이 설계 단계에 있으며, 2024년 건설을 시작할 계획입니다. 그럼에도 불구하고 섬유 강화 폴리머 철근과 관련된 높은 제조 비용은 시장 성장에 큰 걸림돌로 작용하고 있습니다.
신흥국의 도로 건설 프로젝트에 대한 투자 증가, 댐 건설 프로젝트에서 민관 파트너십의 부상, 진행 중인 터널 업그레이드는 건축 및 건설 산업의 성장을 가속하여 세계 섬유 강화 폴리머 철근 시장에 긍정적인 영향을 미치고 있습니다.
유리섬유 강화 폴리머(GFRP) 철근은 내식성이 뛰어나 방파제, 댐, 발전소 등 부식성 환경에서 사용하기에 적합합니다. 또한 콘크리트 구조물의 수명을 연장하고 유지 보수 및 재활 비용을 줄이기 때문에 강철보다 내구성이 뛰어나고 비용 효율적입니다. 이 외에도 GFRP 철근은 상대적으로 가벼운 소재이기 때문에 취급 및 운송이 용이합니다. 이러한 장점으로 인해 GFRP 철근 제조업체는 세계 시장 점유율을 확대하기 위해 생산 기지를 확장하고 있습니다.
북미에서는 교량, 건물, 해양 구조물, 해안, 수처리 플랜트 등 다양한 분야에서 FRP 철근에 대한 수요가 증가하고 있으며, 이는 이 지역 시장 성장을 가속화하고 있습니다. 또한 북미에서 FRP 철근 생산에 참여하는 주요 기업들은 사업 포트폴리오를 구축하기 위해 인수, 파트너십, 제휴 등의 전략을 펼치고 있습니다.
2020년 코로나19 팬데믹은 전 세계 공급망을 혼란에 빠뜨려 자재 가용성에 영향을 미치고 건설을 지연시켜 FRP 철근의 채택을 지연시켰습니다. 예를 들어, European Construction Industry Federation에 따르면 유럽 연합의 건축 및 건설 투자는 2020 년에 3.0% 감소했습니다. 이처럼 세계 차원의 건축 및 건설 활동의 성장률 하락은 2020년 FRP 철근 시장의 수익 성장률 하락으로 이어지고 있습니다.
그러나 코로나19 팬데믹은 내식성과 같은 FRP 철근의 장점도 부각시켰습니다. 그 결과, 신속한 건설 및 유지 보수 감소에 대한 요구가 증가함에 따라 특히 의료 인프라 및 기타 중요한 시설에 대한 적용이 강화되어 시장 성장을 강화했습니다.
이 보고서는 세계 섬유 강화 폴리머 철근 시장에 대해 조사 분석했으며, 시장 규모와 예측, 시장 역학, 주요 기업 현황과 전망 등의 정보를 제공합니다.
Global fiber reinforced polymer rebars market is projected to witness a CAGR of 10.1% during the forecast period 2024-2031, growing from USD 111 million in 2023 to USD 239.67 million in 2031. The building and construction industry held the leading share in the global fiber reinforced polymer rebars market. According to the latest forecast period published by the Construction Products Association, the construction industry at the global level registered a significant annual growth rate of 2.8% in 2022.
The increasing regulatory standards for the superior quality of fiber reinforced polymer (FRP) rebars will accelerate product adoption, thereby driving the market growth. For illustration, in May 2023, ASTM International, an international standard organization, approved the D8505 standard to integrate FRP rebar into infrastructure applications.
The growth of the building and construction activities is attributed to determinants such as the rising development of high-rise buildings, increasing emphasis on replacing aging infrastructure, technological innovations, and surging investments in commercial construction projects. Thus, the booming construction activities are boosting the adoption of fiber reinforced polymer rebars, such as glass (GFRP) rebar and carbon (CRFP) rebar, to ensure chemical resistance, thereby accelerating the market growth. Moreover, the rise in international trade has increased demand for various commercial vessels, such as bulk carriers, tankers, and container ships. Therefore, shipbuilding activities are increasing at the global level, which, in turn, is fueling the demand for fiber reinforced polymer rebars to increase the life span of marine structures, thereby propelling the market growth.
Furthermore, the strict regulatory norms associated with the treatment of wastewater and the growing awareness about the need for water conservation and reuse, along the development of new plants for water treatment, are creating a lucrative opportunity for the fiber reinforced polymer rebars market growth. For exemplifier, the wastewater treatment plant located in Waitsfield, Vermont, the United States is under the design phase and the plan is to begin construction in 2024. Nevertheless, the high manufacturing cost related to fiber reinforced polymer rebars is posing a major roadblock for the market's growth.
FRP rebars are deployed in building and construction activities as a non-corrosive alternative to traditional steel rebars. They ensure superior benefits, such as corrosion-resistance, lightweight, non-conductive, and a long service lifespan, since FRP rebars are made of a polymer matrix reinforced with fibers such as glass, basalt, carbon, or aramid. As a result, FRP rebars are ideal for various structural and architectural applications such as bridges, highways, and dams. The increasing investment in road construction projects in developing economies, rising public-private partnerships in dam construction projects, and ongoing upgradations of tunnels are driving the growth of the building and construction industry, thereby positively impacting the global fiber reinforced polymer rebars market.
For example, various road projects are under the construction phase, including the Garden City Road improvement project in the United States (completion year 2025), 23 projects in India (completion year 2025) undertaken by the National Highways Authority of India (NHAI), and VINCI Highways in Germany (completion year 2025). Hence, the rise in construction activities is fostering the utilization of fiber reinforced polymer rebars to ensure long-term cost savings and contribute to environmental sustainability due to their non-corrosive nature and reduced carbon dioxide (CO2) emissions during production and transport. This, in turn, is proliferating the market growth.
Glass fiber reinforced polymer (GFRP) rebars are highly resistant to corrosion, making then ideal for use in corrosive environments such as seawalls, dams, and power plants. They are also more durable and cost-effective than steel as they extend the lifespan of concrete structures and reduces maintenance and rehabilitation costs. Apart from this, GFRP rebars are comparatively a lighter material, making them easier to handle and transport. Thus, due to the above benefits, GFRP rebar manufacturers are expanding their manufacturing basis to increase their market share in the global market.
For instance, in September 2020, Saudi Aramco, a materials manufacturer in Saudi Arabia launched a new GFRP rebar manufacturing facility in Saudi Arabia. Hence, the increasing expansion of GFRP rebar production facilities due to the rising product deployment in various applications is fostering the market growth.
The demand for FRP rebars in various applications, such as bridges, buildings, marine structures, waterfronts, and water treatment plants, has been increasing in North America, which is accelerating the market growth in the region. In addition, the leading players having a presence in the North American region dealing in the production of FRP rebar are deploying strategies, such as acquisitions, partnerships, and collaborations, to build their business portfolios.
For illustration, as of December 2023, construction projects such as Southeast Connector, USD 1.6 billion Dallas-Fort Worth Area in the United States (project completion year 2027), USD 4.5 Gordie Howe International Bridge, Detroit, MI in North America (project completion year 2026), USD 1 billion American Legion Bridge Replacement, Bethesda, MD in the United States (project completion year 2029), and USD 3.8 billion Hudson Tunnel Project, New York City, NY, in the United States (project completion year 2035) are under the development phase. As a result, the rise in the key building & construction projects in the North American region is boosting the demand for fiber reinforced polymer rebars, thereby supplementing the market growth in the region.
The COVID-19 pandemic in 2020 disrupted global supply chains, affecting the availability of materials and delaying construction, thereby slowing FRP rebar adoption. For illustration, according to the European Construction Industry Federation, the European Union building and construction investment registered a decline of 3.0% in 2020. Thus, the diminished growth rate of building and construction activities at the global level led to a decline in the revenue growth of FRP rebars market in 2020.
However, the COVID-19 pandemic also highlighted the advantages of FRP rebars, such as their resistance to corrosion. This, in turn, enhanced their application, especially in healthcare infrastructure and other critical facilities, in response to the growing need for rapid construction and reduced maintenance, thereby augmenting the growth of the market.
The war between Russia and Ukraine resulted in record prices of oil, which significantly heightened transportation costs and ensued supply chain limitations and the closure of manufacturing units. The countries such as Russia, Ukraine, Poland, and several other European nations were impacted by the Russia-Ukraine war, thereby limiting the growth of the fiber reinforced polymer rebars industry.
For instance, in March 2022, Composite Group Chelyabinsk, a Russia-based manufacturer of FRP rebars, faced sanctions from the European countries. However, the increased sourcing of raw materials from local suppliers, along with positive trajectory shown in developing countries such as India and China, accelerated the growth of the fiber reinforced polymer rebars market.
The leading players involved in the manufacturing of fiber reinforced polymer rebars, such as Owens Corning., FiReP, Schock Bauteile GmbH, Dextra Group, Pultron Composites, Armastek, MRG-Composites, Rochling, TUF-BAR Inc., and SFTec Inc, have highly advanced infrastructure to ensure the production in bulk quantity. The market for FRP rebars is growing due to the increasing demand for lighter, non-corrosive, and high strength rebars, as well as rising government spending for construction and maintenance in developing countries. Therefore, the manufacturers of fiber reinforced polymer rebars are adopting new product innovation, acquisition andmergers, and research and development (R&D) initiatives to expand their revenue share in the global market.
In October 2023, Technofast Industries, that is headquartered in Australia and is involved in the distribution of engineering solutions, launched a new range of rebar in Australia, with the South Korean-sourced Dong Shin Materials Glass Fibre Reinforced Polymer (GFRP) rebar, which ensures weight savings of up to 75% as opposed to traditional steel rebar. Hence, the increasing distribution of fiber reinforced polymer rebars in Australia is boosting the market growth in the country.
In August 2023, Tampa Steel & Supply, a leading distributor in the United States, introduced its latest product, FRP Rebar, a fiberglass rebar alternative ideal to offer superior durability, strength, and resilience against harsh elements. The launch of FRP Rebar, a glass fiber reinforced polymer (GFRP), will ensure superior performance for a wide range of projects, including seawalls, bridges, dams, piers, low to mid-rise buildings, power plants, and flatwork in corrosive climates. Therefore, the increasing supply of fiber reinforced polymer rebars in the global market is benefiting the industry growth.
In July 2020, Pultron Composites, a New Zealand-based manufacturer of fiber reinforced polymer rebars formed a strategic collaboration with Geosynthetic Partners Ltd to distribute Mateenbar, a range of FRP rebar in the New Zealand market. The prime aim of the partnership was to increase the distribution of FRP rebar in the Asia-Pacific region.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.