Fiber Reinforced Polymer (FRP) Rebars Market Growth and Forecast by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

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)

Report Date : Aug 2022
Report Code : TIPRE00003768

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 196

Also Available in :

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Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

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.

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Fiber Reinforced Polymer (FRP) Rebars Market: Strategic Insights

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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.

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.

Fiber Reinforced Polymer FRP Rebars

Fiber Reinforced Polymer (FRP) Rebars Market Regional Insights

The regional trends and factors influencing the Fiber Reinforced Polymer (FRP) Rebars Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Fiber Reinforced Polymer (FRP) Rebars Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Fiber Reinforced Polymer (FRP) Rebars Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 215.88 Million
Market Size by 2028	US$ 421.02 Million
Global CAGR (2021 - 2028)	10.2%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Resin Type Vinyl Ester Polyester Epoxy By Fiber Type Glass Fiber Composites Carbon Fiber Composites Basalt Fiber Composites By Application Highway Bridge and Construction Marine Structures and Waterfronts Water Treatment Plants
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Owens Corning KODIAC Fiberglass Rebar MARSHALL COMPOSITE TECHNOLOGIES, LLC. TUF-BAR Armastek USA Pultron Composites FiRep Inc. PULTRALL, Inc. Schock Bauteile GmbH

Fiber Reinforced Polymer (FRP) Rebars Market Players Density: Understanding Its Impact on Business Dynamics

The Fiber Reinforced Polymer (FRP) Rebars Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

fiber-reinforced-polymer-frp-rebars-market-cagr

Get the Fiber Reinforced Polymer (FRP) Rebars Market top key players overview

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.

Frequently Asked Questions

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.

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 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.

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.

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.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Fiber Reinforced Polymer (FRP) Rebars Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Fiber Reinforced Polymer (FRP) Rebars Market Report Snapshots

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