Fiber Reinforced Polymer Rebars Market for Construction sector is expected to witness fastest growth over 2019-2024

Global Fiber Reinforced Polymer Rebars Market Size, Industry Analysis Report, Regional Outlook (North America, Europe, Asia Pacific, Latin America, MEA), Application Development status, Price Trend, Competitive Market Share & Forecast, 2019-2024.

Growing construction spending along with rising infrastructure development in numerous region globally will drive the industry growth. Increasing construction of bridges, highways, building and water treatment plants are the factors positively influencing the product penetration.

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Rising restoration needs particularly for old building and bridges will enhance the product scope. Shifting preference towards durable, lightweight and non-corrosive reinforcements coupled with good electric and thermal insulation properties will drive the fiber reinforced polymer rebars market growth.

Advancement in technologies, materials and product designs are the major factors fuelling the industry growth. Shift in government focus towards infrastructure development including the construction of parking areas, railings, walls, garages, columns, floor slabs, and decks will support the fiber reinforced polymer rebars market revenue.

Fiber reinforced polymer rebars market is led by highways, bridges & buildings due to growing construction and restoration activities. Highways, bridges & building was worth over USD 460 million in 2015. Rapid urbanization and industrialization mainly in developing countries will drive the fiber reinforced polymer rebars market.

  • FRP Rebar Market By Resin
    • Polyester
    • Vinyl ester
  • FRP Rebar Market By Product
    • Glass fiber composites
    • Aramid fiber composites
    • Basalt fiber composites
    • Carbon fiber composites
  • FRP Rebar Market By Application
    • Marine structures & waterfronts
    • Highways, bridges & buildings
    • Water treatment plants
    • MRI Rooms
    • Others

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Glass fiber composites dominate the industry share accounting for more than 85% in 2015. Reduced possibilities of acid and alkali attacks coupled with lightweight and easy handling properties have encouraged the industry growth.

Basalt composites are the fastest growing product. Corrosion resistance, easy availability, low price, resistance to hostile environment and magnetic transparency are the major properties enhancing the product penetration.

Polyester fiber reinforced polymer rebars market was valued over USD 460 million in 2015. Evolution as a substitute for epoxy or stainless steel in construction industry has positively influenced the product demand. Vinyl ester resin has excellent corrosion resistivity against chemicals, vapours and fuels accompanied by high tensile strength and durability.

North America, led by the U.S. was valued over USD 270 million in 2015. Stringent government regulations for human safety in construction industry will have a positive outlook in this region.

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Europe, dominated by Germany and UK fiber reinforced polymer rebars market is growing substantially owing to increased restoring and renovation activities for both commercial and residential buildings. Increased government spending on infrastructure development including bridges, roads and building will drive the regional demand.

Asia-Pacific will witness growth around 8% up to 2024. Increasing construction activities in emerging nations including, China and India will enhance fiber reinforced polymer rebars market. Increasing government support for infrastructure activities will further fuel the industry growth in this region.

Global fiber reinforced polymer rebars market is at growth stage focusing on new product development. Several players are engaged in expanding their product portfolio to sustain in the industry. Key participants include Marshall Composites Systems, BP Composites, Hughes Brothers, Putrall, Fibrolux, Sireg Geotech, CRT and Technobasalt Invest LLC.

Read More News – https://www.marketwatch.com/press-release/geosynthetics-market-by-industry-growth-applications-regional-analysis-2024-2019-02-20