Fiber Reinforced Polymer FRP Rebars Market Size, Share - 2028

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Fiber Reinforced Polymer (FRP) Rebars Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Resin Type (Vinyl Ester, Polyester, Epoxy, and Others), Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, and Basalt Fiber Composites), and Application (Highway Bridge and Construction, Marine Structures and Waterfronts, Water Treatment Plants, and Others)

Publication Month: Aug 2022 | Report Code: TIPRE00003768 | No. of Pages: 196 | Category: Chemicals and Materials | Status: Published

Market Overview

Fiber Reinforced Polymer (FRP) composites combine a polymer matrix with glass, carbon, or aramid fibers. These composites have a high strength-to-weight ratio, resistance to corrosion, and durability, which makes them well-suited for many industries, including construction, transportation, aerospace, and energy. Among these industries, using FRP composites in the energy sector, specifically in wind turbine blades, is a significant driver of market growth.

MARKET DYNAMICS

The fiber reinforced polymer composites market is anticipated to grow in the forecast period owing to the superior properties offered by the product over steel and other non-ferrous metals such as ease of shaping, low density, and fatigue resistance. The thriving building and construction sector coupled with growing demands for corrosion-free concrete reinforcing materials further boost the growth of the fiber reinforced polymer composites market. However, the high manufacturing cost of the product limits the fiber reinforced polymer composites market. Nonetheless, major R&D activities for cost-effective composite manufacturing and exploration of bio-based FRP offer lucrative opportunities for the fiber reinforced polymer composites market during the forecast period.

MARKET SCOPE

The "Global Fiber Reinforced Polymer (FRP) Composites Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of fiber reinforced polymer composites market with detailed market segmentation by fiber type, end-use industry, and geography. The global fiber reinforced polymer composites market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading fiber reinforced polymer composites market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global fiber reinforced polymer composites market is segmented on the basis of fiber type and end-use industry. Based on type, the market is segmented as glass fiber, carbon fiber, basalt fiber, aramid fiber, and others. On the basis of the application the market is segmented as automotive, aerospace & defense, building & construction, electrical & electronics, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global fiber reinforced polymer composites market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The fiber reinforced polymer composites market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting fiber reinforced polymer composites market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the fiber reinforced polymer composites market in these regions.

MARKET PLAYERS

The reports cover key developments in the fiber reinforced polymer composites market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from fiber reinforced polymer composites market are anticipated to lucrative growth opportunities in the future with the rising demand for fiber reinforced polymer composites in the global market. Below mentioned is the list of few companies engaged in the fiber reinforced polymer composites market.

The report also includes the profiles of key fiber reinforced polymer composites companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

  • Aegion Corporation
  • American Grating LLC
  • B&B FRP Manufacturing Inc.
  • DowAksa
  • Engineered Composites Ltd
  • Hyosung Corporation
  • Mitsubishi Chemical Corporation
  • SGL Carbon SE
  • TenCate Advanced Composites Holding B.V.
  • Toray Industries, Inc.

Frequently Asked Questions

The major players operating in the fiber reinforced polymer (FRP) rebars market are Owens Corning; KODIAC Fiberglass Rebar; Marshall Composite Technologies, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.; Pultrall, Inc.; Schock Bauteile GmbH; and Dextra Group.
In 2021, North America accounted for the largest share of the global fiber reinforced polymer (FRP) rebars market. Increasing government spending on infrastructure development and increased adoption of FRP rebars in construction led to the dominance of North America in 2021.
In 2021, the vinyl ester segment held the largest market share. Vinyl ester resins have high strength, high resistance to corrosion, and resistance to fuels, mechanical toughness, chemicals, or vapors. They have great durability, heat resistance, and high tensile elongation strength. This resin can be impregnated with short glass fiber or carbon fiber to produce FRP rebars. The majority of FRP rebar manufacturers use vinyl ester resin. The cost-effectiveness of vinyl ester has led to the segment's dominance in 2021.
In 2021, the highway bridge and construction held the largest market share. Growing demand for restoration and strengthening of the existing deficient structures, along with increasing transportation accompanied by rapid industrialization and urbanization in the emerging economies, has positively influenced the product penetration leading to the dominance of the highway bridge and construction segment in 2021.
During the forecast period, the basalt fiber composites segment is expected to be the fastest-growing segment. Basalt fiber composite is a new alternative to conventionally used fibers such as glass fiber composite, and some extent, carbon fiber composite. These are characterized by superior resistance against low and high temperatures. Moreover, an increase in the use of natural fiber composites such as basalt fiber in automotive & transportation, construction & infrastructure, electrical & electronics, and other end-use industries is expected to propel the growth of the basalt fiber composites demand.
Fiber reinforced polymer rebar is a non-corrosive alternative for steel rebar in concrete reinforcement. Advanced thermal compatibility also provides zero stress while responding to temperature changes, which is expected to positively influence the global fiber reinforced polymer (FRP) rebars market during the forecast period. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs which is slated to favor its demand.

The List of Companies - Fiber Reinforced Polymer (FRP) Rebars Market

  • Aegion Corporation
  • American Grating LLC
  • B&B FRP Manufacturing Inc.
  • DowAksa
  • Engineered Composites Ltd
  • Hyosung Corporation
  • Mitsubishi Chemical Corporation
  • SGL Carbon SE
  • TenCate Advanced Composites Holding B.V.
  • Toray Industries, Inc.
  • Progressive industry trends in the global fiber reinforced polymer (FRP) rebars market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the global fiber reinforced polymer (FRP) rebars market from 2020 to 2028
  • Estimation of the demand for global fiber reinforced polymer (FRP) rebars across various industries
  • Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
  • Recent developments to understand the competitive market scenario and the demand for global fiber reinforced polymer (FRP) rebars compounds in the global scenario.
  • Market trends and outlook coupled with factors driving and restraining the growth of the global fiber reinforced polymer (FRP) rebars market.
  • Decision-making process by understanding strategies that underpin commercial interest concerning the global fiber reinforced polymer (FRP) rebars market growth
  • The global fiber reinforced polymer (FRP) rebars market size at various nodes of market
  • Detailed overview and segmentation of the global fiber reinforced polymer (FRP) rebars market as well as its dynamics in the industry
  • The global fiber reinforced polymer (FRP) rebars market size in different regions with promising growth opportunities
TIPRE00003768
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