FRP Rebars Market to exceed 91.00 Million USD by 2021
The report [136 pages] "FRP Rebar Market by Resin Type, by Fiber Type, by Application (Highways, Bridges, & Buildings, Marine Structures & Waterfronts, Water Treatment Plants, and Others) - Global Forecasts to 2021", The global fiber reinforced polymer (FRP) rebars market is projected to reach USD 91.00 Million by 2021, registering a CAGR of 11.4% between 2016 and 2021. This growth is fueled by the increasing demand for the renovation and strengthening of new and existing structurally deficient bridges, and growing application of FRP rebars in other applications such as marine structures & water fronts, and water treatment plants globally.
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Target Audience
- Government and research organizations
- Raw material suppliers
- Distributors & suppliers
- Construction companies
- Industry associations
North America is the fastest-growing market of Fiber Reinforced Polymer (FRP) rebars market between 2015 and 2020, both, in terms of value and volume. The key countries in this region, namely, the U.S. and Canada are witnessing an increase in the use of FRP rebars in construction applications, namely, highways, bridges & buildings, marine structures & waterfronts, water treatments plants, and others.
This growth is mainly due to the rising demand from highways, bridges & buildings application, primarily because of the prevailing harsh environment, thereby, increasing the demand of FRP rebars in construction and renovation of new and existing highways, bridges & buildings structure, especially in Canada and U.S.. Contribution of various research organizations toward the research & development of FRP rebars and up gradation of ASTM (American Society for Testing and Materials) and ACI (American Concrete Institute) guidelines and codes are also some of the key growth factors in North America.
Canada leads the North American FRP rebars market, accounting for more than 50% of the demand for the FRP rebars in the region. The increasing demand for FRP rebars in this country is mainly from highways, bridges & buildings application. This is because these applications are highly susceptible to deterioration due to chloride (deicing salts) penetration, and the usage of FRP rebars in these applications reduces the overall maintenance cost, thereby supporting a more efficient structure, and prioritization of limited funds. Some of FRP rebars project in Canada include Taylor Bridge, Wotton, Quebec, Floodway Bridge, O’Reilly Bridge, and Noden Causeway. Additionally, the U.S. is expected to be the fastest-growing country, followed by Canada where the consumption of FRP rebars is registering a steady growth.
Some of the key global players prevailing in the FRP Rebar Market are Hughes Brothers (U.S.), Pultrall Inc. (Canada), Marshall Composites Technologies LLC. (U.S.), Pultron Composites (New Zealand), Armastek (Russia), BP Composites Ltd. (Canada), Dextra Group (Thailand), Firep International AG (Switzerland), A.T.P. Avanzate Tecnologie Plastiche Srl (Italy), International Grating Inc. (U.A.E.), Sireg S.p.A (Italy), among others.
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