FRP rebar market is projected to grow from US$ 78.3 Million in 2020 to US$ 197.8 Million by 2029. Rising demand in construction industry for selective application is major factor driving growth of the global FRP rebar market. In addition, increasing demand for FRP rebars owing to higher tensile strength and its lightweight nature is another major factor propelling growth of the global FRP rebar market. Furthermore, increasing application scope in bridges and highways is expected to boost growth of the global FRP rebar market over the forecast period. Innovation and technological development in FRP rebar to reduce cost by manufacturers can create lucrative opportunity for players operating in the global FRP rebar market.

The report "Global FRP Rebar Market, By Resin Type (Vinyl Ester, Polyester, and Others), By Fiber Type (GFRP (Glass Fiber Reinforced Plastic), BFRP (Basalt Fiber Reinforced Plastic), and CFRP (Carbon Fiber Reinforced Plastic)), By Application (Highways, Bridges, and Buildings, Water Treatment Plants, Marine Structures and Waterfronts, and Others), and Region - Global Forecast to 2029"

Key Highlights:

• In July 2017, for instance, Owens Corning has acquired Hughes Brothers, Inc. to adds new FRP rebar that enhance the performance of concrete structures, while being lighter-weight and more corrosion-resistant than conventional steel reinforcements.

Key Market Insights from the report:          

The global FRP rebar market accounted for US$ 78.3 Million in 2020 and is projected to register a CAGR of 10.8 % over the forecast period. The market report has been segmented on the basis of resin type, fiber type, application, and region.

• By resin type, the vinyl ester segment accounted for major revenue share in 2018, owing to various properties such as excellent corrosion resistance to fuels, chemicals, or vapors, durability, heat resistance, and high tensile elongation strength.
• By fiber type, the global FRP rebar market is segmented into GFRP (Glass fiber reinforced plastic), BFRP (basalt fiber reinforced plastic), and CFRP (carbon fiber reinforced plastic).
• By application, the highways, bridges, and buildings segment accounted for major revenue share in 2018, owing to the use of FRP rebars for construction of new bridges and restoration of structurally deficient or functionally obsolete bridges.
• By region, North America FRP rebar market accounted for major revenue share of the global FRP rebar market and is further anticipated to maintain its dominance over the forecast period. This is attributed to increasing application in roads, bridges and tunnels along with electrical isolation in the countries of the North America region. Asia Pacific FRP rebar market accounted for second-highest market share, in 2018, owing to increasing demand from construction and building, water treatment plants industries. Middle East & Africa FRP Rebar market is expected to grow at the highest rate during the forecast period, 2018, due to growing commercial and government construction and infrastructure projects in countries of the region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global FRP Rebar Market”, By Resin Type (Vinyl Ester, Polyester, and Others), By Fiber Type (GFRP (Glass Fiber Reinforced Plastic), BFRP (Basalt Fiber Reinforced Plastic), and CFRP (Carbon Fiber Reinforced Plastic)), By Application (Highways, Bridges, and Buildings, Water Treatment Plants, Marine Structures and Waterfronts, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

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The prominent player operating in the global FRP rebar market includes Hughes Brothers, Inc., Pultrall Inc., Marshall Composites Technologies LLC, Pultron Composites Ltd., Armastek, BP Composites Ltd., Dextra Group, Schoeck Bauteile GmbH, and FiReP®-Group.

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