Global Fiber Reinforced Polymer Rebar’s Market, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Rising composites demand from transportation and construction sectors due to strong outlook toward truck & trailers production and commercial infrastructure are expected driving factors which inspire global fiber reinforced polymer rebar’s market growth. Due to which global fiber reinforced polymer rebar’s market is expected to grow at a CAGR of 11% in the forecasted period, 2016-2022.
Key geographical regions dominating the FRP rebar market that includes North America with largest application in bridges, roads, and tunnels along with electrical isolation. The US and the Canada generate moderate to huge demand for FRP rebar’s in marine and water front structural applications. Middle East is anticipated to be the rapidly growing. Global fiber reinforced polymer rebar’s market has witnessed significant growth on account of rising hard infrastructure construction in emerging markets of Asia Pacific and Latin America. Construction industry development in India and China due to economy growth and rising in manufacturing capacities is estimated to promote APAC FRP rebar’s market size growth.
Growing efficiency, greater productivity, and selective application in construction are key factors which are driving the growth of global market of FRP rebar’s. This is also providing higher tensile strength and is lightweight in nature thereby rising global market demand. Great fatigue endurance and non-magnetic properties are also likely to contribute to the development of FRP rebar’s market. Rising global construction expenditure and increasing acceptance of FRP rebar’s for strengthening purposes are also expected to drive the global market growth. The FRP rebar’s also tie easily with concrete irrespective of moisture, pH and other external factors. The advanced thermal compatibility also provides zero stress while responding to temperature change, which is anticipated to have a positive power on global FRP rebar’s market over the coming period. Further advantages of FRP rebars involve excellent quality control with less transportation costs that is slated to favor its demand.
FRP rebar’s market can be classified on the basis of application into roads, water treatment plants, marine structure & water fronts, bridges & tunnels, electrical isolation MRI rooms, and others (aerospace, wind mill blades, bulletproof vests,). Roads, tunnels and bridges segment witnessed the major growth and is expected to dominate the construction market over the coming period. On the basis of product types, FRP rebar’s can be categorized into basalt fiber reinforced plastic rebar’s and glass fiber reinforced plastic. GFRP rebar’s segment is considerably larger than BFRP, with huge demand on account of extra raw material availability. BRFP is developed material and remain dormant on account of raw material non-availability and research. Wherever, BRFP segment provides maximum opportunities for rising in global market on account of increasing applications in several industries.
Some constraints like higher initial capital requirement, limited professional experience with raw materials and inadequate data regarding long-term field performance are anticipated to hamper global market growth of FRP rebar’s. Distinct from conventional materials, FRP rebar’s do not yet have standard codes or specification regarding their application, which is also expected to obstruct global market growth.
Major industry players include Marshall Composites Technologies, Pultrall, Hughes Brothers, Pultron Composites, BP Composites, Dextra Group, Armastek, A.T.P., Firep International, and Sireg, International Grating.
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