FRP Rebar Market | Key players operating in the market include Schöck Bauteile GmbH, Dextra Group, Pultron Composites, Pultrall, Owens Corning

According to recent market research "FRP Rebar Market by Fiber Type (Glass, Carbon and Basalt), Resin Type (Vinyl Easter, Epoxy), Application (Highways, Bridges & Buildings; Marine Structurers & Waterfronts; Water Treatment Plants), and Region - Global Forecast to 2026", The global FRP rebar market is expected to grow from USD 186 million in 2021 to USD 344 million by 2026, at a CAGR of 13.0% during the forecast period. Increasing demand from the construction industry is driving the growth of the market.

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GFRP rebars account for the largest share in the global FRP rebar market in terms of volume. GFRP rebars are made from glass fibers by using the pultrusion method. These rebars are highly resistant to corrosion and have high tensile strength. These are less expensive when compared with BFRP and CFRP rebars. The large share is due to the low cost and the relatively easier production process.

Vinyl ester resins have high strength, mechanical toughness, high resistance to corrosion, and resistance to fuels, 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 the FRP rebar manufacturers use vinyl ester resin and the better properties compared to other resins and the cost-effectiveness over epoxies is the reason for its large market share.

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FRP rebars are extremely lightweight, fatigue resistant, have higher tensile strength than steel, are nonmagnetic, and most importantly, are non-corrosive. They are also thermal and electric insulators. Though relatively expensive compared to traditional steel rebars, FRP rebars cut down the cost of maintenance for any project and provide additional benefits like more strength and easier installation during construction due to their high tensile strength and lightweight. FRP rebars are widely used in the construction of highways, bridges, buildings, marine structures and waterfronts, water treatment plants, MRI rooms, tunnels, smelters, and chemical plants. These rebars are not affected by external factors such as corrosion and harsh environmental conditions and increase the lifespan of any structure and maintains the structural integrity. Additionally, it is easier to transport and handle.

Companies operating in the FRP rebar market have strengthened their position by adopting expansions, acquisitions, joint ventures, etc. from 2016-2021. Schöck Bauteile GmbH (Germany), Dextra Group (Thailand), Pultron Composites (New Zealand), Pultrall Inc. (Canada), Composite Group Chelyabinsk (Russia), Owens Corning (US), FiReP Group (Switzerland), and Sireg Geotech S.r.l. (Italy) are the key players in the FRP rebar market.

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Pultron Composites, headquartered in Gisborne, New Zealand is involved in the development and manufacture of high-performance, fiber-reinforced polymer (FRP) rebars and is one of the key players in the market. As part of the Future Investment Initiative, a memorandum of understanding in the field of energy was signed between Pultron Composites and oil giant Saudi Aramco for a value of 93.75 million riyals (USD 25m). Saudi Aramco has mandated GFRP rebar to be included in its engineering standards for reinforced concrete structures in corrosion-risk areas. This has driven the growth of Pultron Composites and the FRP rebar market in the MEA region.

Owens Corning is another upcoming and important player in the FRP Rebar market. It is comparatively new in the FRP rebar market but due to its large presence worldwide can become an important player in the future. It acquired Aslan FRP, the concrete reinforcement business of Hughes Brothers Inc. Aslan FRP makes and markets glass and carbon fiber-reinforced composite rebars which are used to reinforce concrete in new and restorative infrastructure projects such as roads, bridges, marine structures, buildings and tunnels. With this acquisition, the company strengthened and expanded its geographical presence in the FRP rebar market.

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