GFRP (Glass fiber Reinforced Polymer) Rebars Market To Grow At An Exponential Rate Between 2021-2031
The traditional strengthened concrete members such as beams are composed of concrete included Portland cement and steel rebars reinforcement. The tensile and shear loads will be resisted by steel rebars embedded in the concrete.
Recent technologies have resulted in alternative reinforcing materials such as GFRP materials commercially available in the form of bars that can be bonded in concrete members to fulfill several desired properties. Glass fiber Reinforced Polymer (GFRP) Rebars are made using glass fiber as reinforcement material. Unsaturated resin with 1% MEKP (as matrix material) is used for synthesis of GFRP rebars in a manual process.
GFRP surfaces are then modified by inclusion of coarse sand to increase the bond strength of these rebars with concrete. The rebars enhance tensile and partially shear strengths. However, the problem of corrosion associated with the steel rebars reduced its life and the solutions such as the coating of the steel rebars are costly. This is driving the demand for GFRP rebars market over the forecast period.
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While the GFRP rebars market is projected to grow at a healthy pace, the ongoing COVID-19 pandemic is anticipated to significantly impact the short term demand trend for GFRP rebars. The COVID-19 outbreak has resulted in shutdown of economic activity across a number of countries across the globe, leading supply chain networks to a complete halt.
On the other hand, it is expected to have a significant impact on the global economy and is expected to affect the consumer spending trends in the short term. Hence a contraction in the growth of GFRP rebars demand is expected during 2020-21, and is expected to recover sharply post the mentioned period.
Gfrp Rebars Market: Dynamics
Rapidly growing infrastructure development activities along with escalating construction spending are the key factors driving the demand for GFRP rebars market in the coming years. The corrosion issues regarding conventional reinforcement techniques are enhancing the adoption of non-corrosive GFRP rebars in the infrastructure industry. Nearly 25% of construction failures are caused by corrosion. Inefficiency due to steel reinforcements which causes concrete failures is expected to have positive impact on the growth in demand for GFRP rebars over the stipulated period.
Moreover, it is easier for GFRP rebars to bond with concrete irrespective of moisture, pH and other external factors. GFRP rebars have advanced thermal compatibility which enables zero stress when responding to temperature variations. These is anticipated to propel the demand for GFRP rebars market during forecast period. Manufacturers are focused on development of technologically advanced GFRP rebars having polymer resin matrix to transfer load between fibers and high strength. These developments are projected to enhance the product penetration over the coming years.
Contrasting conventional materials, GFRP rebars does not have standard specifications and codes pertaining their applications. This is expected to restrain the growth of GFRP rebars market. In addition, some constraints such as inadequate data for long term field performance, limited experience with raw materials and high initial cost requirement are also likely to hamper the growth in demand for GFRP rebars market.
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Gfrp Rebars Market: Segmentation
The global GFRP rebars market can be segmented on the basis of product type, resin type and application.
On the basis of product type, the global GFRP rebars market can be segmented as:
Smooth GFRB rebars
Sand coated GFRP rebars
On the basis of resin type, the global GFRP rebars market is segmented as,
On the basis of application, the global GFRP rebars market is segmented as,
Water Treatment Plants
Bridges & Buildings
Marine Structures & Waterfronts
Gfrp Rebars Market: Regional Outlook
North America is expected to have dominating share in the global GFRP rebars market owing to highest application in roads, tunnels and bridges. U.S. and Canada projected generate significant demand for GFRP rebars in marine and water front structural applications as well. European countries such as Germany, UK, Italy, France, etc. are generating moderate demand in construction applications mainly for public infrastructure. Attributing to this stable growth is observed in Europe GFRP rebars market.
Asia Pacific is expected to grow with highest growth rate in the GFRP rebars market owing to significantly increasing industrial and residential construction activities in the countries like China, Japan, India, etc. Middle East & Africa are expected to have remarkable growth rate in the global GFRP rebars market. This growth is attributable to the government initiatives for infrastructure development activities in the countries from region.
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Gfrp Rebars Market: Key Players
Major market participants in the global GFRP Rebars market identified across the value chain include:
• Hughes Brothers Inc
• Marshall Composites Systems
• BP Composites Ltd
• Schock international
• Pultrall Inc.
• Neuvokas Corp
• Composite Rebar Technologies (CRT)
• Technobasalt Invest LLC
• Sireg Geotech Srl
• Fibrolux GmbH
• Dextra Group
The GFRP Rebars research report presents a comprehensive assessment of the GFRP Rebars market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The GFRP Rebars research report provides analysis and information according to market segments, such as geographies, application, and industry.
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