Fiber Reinforced Polymer (FRP) Rebars Market size was over USD 45 million in 2015, and is forecast to surpass USD 90 million by 2024, growing at more than 11% CAGR.
Increasing composites demand from construction and transportation sectors owing to strong outlook towards truck & tailors production and commercial infrastructure are expected driving factors to stimulate global fiber reinforced polymer rebars market size growth.North America FRP rebars market size is set to witness significant growth, particularly for panel & sheets due to increase in demand from recreational construction, truck & trailers, and vehicles. Moreover, abundant raw material availability, manufacturing industry growth, plant capacity expansion, and penetration in non-residential construction are key factors fueling regional industry growth.
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Major FRP rebars projects in North America includes Sierrita de la Cruz Creek Bridge, Pierce Street Bridge, Taylor Bridge Manitoba, Lima OH, Quebec, and Wotten. In addition, it is also used in decks for top or bottom mat. As per National Bridge Inventory (NBI), in the U.S. approximately 145,000 bridges were physically deficient in 2010. FRP rebars adoption in the construction application enhances service life and reducing cycle costs.Construction industry expansion in China and India owing to economy growth and increase in manufacturing capacities is projected to foster APAC FRP rebars market size growth. Europe, driven by Germany, France, and UK FRP rebars market, may witness significant gains owing to acceptance from public infrastructure authorities are potential factors influence regional demand.
Fiber reinforced polymer rebars market application includes highways, buildings & bridges, marine structures & waterfronts, and water treatment plants. Highways, buildings & bridges is set to witness fastest growth, rising need for construction and restoration due to insufficient maintenance, harsh environmental conditions, and architecturally deficient structure. These factors are likely to support FRP rebars market size growth.Asia Pacific is projected to be potential high growth region due to high construction spending in the region. The region accounted for over 40% of the global construction spending in 2015. China construction spending was over USD 1.70 trillion followed by Japan and India registering at more than USD 738 billion and USD 422 billion spending in the same year.
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Global FRP rebars market share is driven patents, mergers & acquisitions, and agreements. Major industry players include Pultrall, Hughes Brothers, Marshall Composites Technologies, BP Composites, Pultron Composites, Armastek, Dextra Group, A.T.P., Firep International, Sireg, and International Grating
This latest Fiber Reinforced Polymer (FRP) Rebars market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Fiber Reinforced Polymer (FRP) Rebars industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Fiber Reinforced Polymer (FRP) Rebars Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024.” in detail along with the table of contents:
Key Insights in this Report
- Fiber Reinforced Polymer (FRP) Rebars market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Fiber Reinforced Polymer (FRP) Rebars market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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