Fiber Reinforced Polymer FRP Rebars Market Size, Share - 2028

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
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 196
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The fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 215.88 million in 2021 to US$ 421.02 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2022 to 2028.

As concrete is strong in compression and weak in tension, it is typically strengthened to create a building material that is strong in tension and compression. This reinforcement conventionally consists of steel due to its low cost, high strength, and high elasticity. However, steel corrosion could cost governments and asset owners billions of dollars in maintenance costs to replace or repair aging infrastructure. There are few alternatives for concrete reinforcing materials that can be used to prevent corrosion. For example, some manufacturers offer stainless steel rebars; however, fiber reinforced polymer rebar can serve as a non-corrosive alternative to conventional steel rebar for concrete reinforcement. These FRP rebars are made with the combination of polymer matrix with glass, carbon, or basalt fibers. These materials don't rust, are much lighter than steel, do not transmit heat, and are nearly four times stronger in tension. The anti-corrosion ability makes fiber reinforced polymer the best alternative for various construction applications such as retaining walls, piers, jetties, quays, caissons, decks, bulkheads, pilings, canals, offshore platforms, swimming pools, and aquariums.

Furthermore, in electromagnetically sensitive applications, glass and polymer nonconductive properties of FRP rebars won't transmit current, attract lightning strikes or interfere with the operation of nearby electrical devices. That makes fiber reinforced polymer a safer alternative to steel in aluminum and copper smelting plants, airport towers, nuclear power plants, specialized military structures, electrical and phone transmission towers, manholes containing electrical or phone equipment, and hospitals with magnetic resonance imaging (MRI) equipment.

Fiber Reinforced Polymer (FRP) Rebars Market Forecast, by Region, during 2021–2028

Fiber Reinforced Polymer (FRP) Rebars Market Forecast, by Region, during 2021–2028

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Market Insights

Growing Construction Activities Boost Fiber Reinforced Polymer (FRP) Rebars Market Growth

The construction industry is one of the major contributors to the economic development across the globe. It is flourishing rapidly due to increasing government support for infrastructure development across the globe. For instance, India planned to spend US$ 1.4 trillion on infrastructure through the National Infrastructure Pipeline from 2019 to 2023. In this pipeline, the government has included infrastructures such as power, bridges, dams, roads, and urban infrastructure development. Due to their advantageous material properties such as high strength, tolerance for frost and de-icing salts, and short installation times with minimum traffic interference, fiber reinforced polymers have matured to become valuable substitute building materials for bridge structures. Such initiatives of the governments of different countries are expected to boost the growth of the fiber reinforced polymer (FRP) rebars market

Resin Type Insights

Based on the resin type, the global fiber reinforced polymer (FRP) rebars market is segmented into vinyl ester, polyester, epoxy, and others. In 2021, the vinyl ester segment held the largest market share. Vinyl ester resins have high strength; high resistance to corrosion, fuels, chemicals, or vapors; and offer mechanical toughness. 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 the fiber reinforced polymer rebar manufacturers use vinyl ester resin. The cost-effectiveness of vinyl ester has boosted the growth of the segment. 

Global Fiber Reinforced Polymer (FRP) Rebars Market Share, by Resin Type, during 2021–2028

Global Fiber Reinforced Polymer (FRP) Rebars Market Share, by Resin Type, during 2021–2028
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Fiber Reinforced Polymer (FRP) Rebars Market: Strategic Insights

fiber-reinforced-polymer-frp-rebars-market
Market Size Value inUS$ 215.88 Million in 2021
Market Size Value byUS$ 421.02 Million by 2028
Growth rateCAGR of 10.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
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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 are among the major players operating in the globalfiber reinforced polymer(FRP) rebars market. The leading players adopt strategies such as mergers and acquisitions and product launches to expand their geographic presence and clientele. For instance, Pultron Composites established a partnership with Saudi Aramco, Saudi Arabia's leading oil company, to increase its glass fiber reinforced polymer (GFRP) rebar production facilities in the country.  

Report Spotlights

  • Progressive trends in the fiber reinforced polymer (FRP) rebars industry to help players develop effective long-term strategies
  • Business growth strategies adopted by companies to secure growth in developed and developing markets
  • Quantitative analysis of the global fiber reinforced polymer (FRP) rebars market from 2022 to 2028
  • Estimation of the demand for fiber reinforced polymer (FRP) rebars
  • Porter's 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 fiber reinforced polymer (FRP) rebars
  • Market trends and outlook, and factors driving and restraining the global fiber reinforced polymer (FRP) rebars market growth
  • Understanding the strategies that underpin commercial interest with regard to the global fiber reinforced polymer (FRP) rebars market growth, aiding in the decision-making process
  • 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, and its industry dynamics
  • Global fiber reinforced polymer (FRP) rebars market size in various regions with promising growth opportunities

The " Fiber Reinforced Polymer (FRP) Rebars Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry, focusing on the fiber reinforced polymer (FRP) rebars market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The fiber reinforced polymer (FRP) rebars market is segmented into resin type, fiber type, application, and geography. Based on resin type, the market is segmented into vinyl ester, polyester, epoxy, and others. Based on fiber type, the market is segmented into glass fiber composites, carbon fiber composites, and basalt fiber composites. Based on application, the market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, North America dominated the fiber reinforced polymer (FRP) rebars market. However, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. 

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Resin Type, Fiber Type, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the key driver for the growth of the global fiber reinforced polymer (FRP) rebars market?

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.

Which fiber type segment is expected to account for the fastest growth in the global fiber reinforced polymer (FRP) rebars market?

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.

In 2021, which application segment accounted for the largest share in the fiber reinforced polymer (FRP) rebars market?

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.

In 2021, which resin type segment accounted for the largest share in the fiber reinforced polymer (FRP) rebars market?

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.

Can you list some of the major players operating in the global fiber reinforced polymer (FRP) rebars market?

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, which region held the largest share of the global fiber reinforced polymer (FRP) rebars market?

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.

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

  • Owens Corning    
  • KODIAC Fiberglass Rebar                  
  • MARSHALL COMPOSITE TECHNOLOGIES, LLC.         
  • TUF-BAR                 
  • Armastek USA      
  • Pultron Composites           
  • FiRep Inc.                
  • PULTRALL, Inc.      
  • Schock Bauteile GmbH      
  • Dextra Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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