Fiber Reinforced Polymer (FRP) Rebars Market Analysis

FRP Rebars Market Analysis

Polyester resin FRP rebar market size was worth over USD 460 million in 2015. Development of the polyester resin as a superior alternative over epoxy, galvanized, or stainless steel reinforcement has fuelled the industry growth. Extensive polyester usage in construction of new structures as well as fixing structural deficiency in degraded heritage buildings superior mechanical properties, ease-of-handling, chemical resistance, and dimensional stability enhanced the product demand.
 

Vinyl ester resin FRP rebar market will witness growth over 9% up to 2024. Excellent corrosion resistance against fuels, vapours, or chemicals along with high durability and tensile strength are the stimulating properties enhancing the vinyl ester resin demand. Large formulations availability by varying resin, reinforcement, and additive types will create new avenues for industry growth.
 

Glass fiber composites FRP rebar market dominates the overall industry catering for more than 85% in 2015. Lightweight, ease in handling along with reduced chances for alkali and acid attacks are the significant properties driving the FRP rebar market growth. Production capacity limitation imposed by China on glass fiber will result in to high FRP rebar market price trend. However, emergence of low cost substitute including basalt due to its large availability and easy extraction will open new avenues in the industry.
 

Basalt fiber composites FRP rebar market will CAGR around 9 % up to 2024. Less price, high penetration and substantial properties including lightweight, magnetic transparency and resistance to hostile environment are the key factors positively influencing industry growth. The composite being the latest technology will witness increased consumption in construction of earthquake resistant buildings.
 

Carbon FRP rebar market will observe gains at over 8% by 2024. Increasing usage constructing bridges, decks & railings, floor slabs, columns, parking garages, and parapets due to its extreme strength and lightweight properties are driving factors. Imperviousness to chloride ions and chemical outbreaks, higher tensile and ability to withstand greater weight will propel the product demand.
 

Highways, bridges & buildings were worth over USD 460 million for the 2015 FRP rebar market. Rising demand for restoration and strengthening of the existing deficient structures will drive the industry growth. Increasing transportation accompanied by rapid urbanization and industrialization in the emerging economies have positively influenced the product penetration in highways, bridges & buildings.
 

Water treatment plants are subjected to a continuous exposure of chloride content in water causing steel corrosion. Corrosion resistant FRP rebar are broadly used in the water treatment plants including potable water tanks, refinery reservoirs, sewage treatment facilities, acid ponds, and gold & salt mines. The products, unlike corroded reinforcement, prevent harmful materials leaching into soil and groundwater.
 

Marine structures are highly prone to harsh environments, steel corrosion, abrasions and sulphate attacks. FRP rebar market will witness notable growth from marine structures & waterfronts in the forecast period, owing to high fatigue endurance, prevention from ruptures and high strengthening properties. High corrosion resistance, leakage control and crack control properties enabled the product development in the applications exposed to seawater.
 

FRP rebar market from MRI rooms will witness CAGR over 6.5% up to 2024. The electromagnetic field generated due to conventional steel reinforcement may interfere MRI machine functionality. Magnetic transparency, thermal and electricity resistance are the notable properties enhancing the product usage in electric and magnetic isolation applications.
 

U.S FRP rebar market size generated over USD 270 million business in 2015. Increasing construction spending due to rapid infrastructure development will drive the industry growth. The country observed over USD 1 trillion construction spending in 2015.
 

Stable growth is observed in Europe FRP rebar market, owing to potential outlook in MRI rooms, marine structures, waterfronts and electrical isolation applications. High government spending on infrastructure development, for instance the construction of the world's tallest road bridge: the Millau Viaduct in France has supported the product consumption in this region.
 

Asia Pacific will witness growth over 8% up to 2024. High tensile strength and lightweight properties have resulted in increasing product consumption in construction of earthquake resistant buildings and restoration of old structures particularly in Japan. Construction industry expansion coupled with the stimulating properties including corrosion resistance, lightness and high strength will trigger the demand.
 

MEA FRP rebar market will witness CAGR over 8.5% up to 2024. High infrastructure development in the recent years particularly in UAE with significant projects has enhanced the product penetration. Government initiatives for advanced infrastructure with enhanced safety regulations will create notable opportunities for industry growth.