Press release
Fiber Reinforced Polymer Composite Rebar Market Set for 10.6% CAGR Growth from 2023 to 2032, North America Leads
Fiber Reinforced Polymer Composite Rebar (FRP Rebar) Market
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The vinyl ester sub-segment accounted for the largest global fiber reinforced polymer composite rebar market share of 43.9% in 2022 and is expected to grow at the highest CAGR of 11.0% during the forecast period. This is mainly due to the widespread adoption and versatility of vinyl ester in various applications within the FRP rebar industry. Besides, the mechanical properties of vinyl ester resin, such as high strength, corrosion resistance, and durability, make it an ideal choice for reinforcing structures, thereby driving demand. Moreover, as the construction industry prioritizes durable and corrosion-resistant solutions, the superior performance characteristics of vinyl ester resin position it as a preferred material for construction applications, particularly in corrosive environments.
Fiber Type: Glass Fiber Sub-segment to be Most Prominent During the Forecast Period
The glass fiber sub-segment accounted for the largest market share of 34.2% in 2022 and is expected to rise at the highest CAGR of 10.9% during the forecast period. This is mainly due to glass fiber's unique properties, including high tensile strength, corrosion resistance, and durability. This positions it as a preferred reinforcing material for construction and infrastructure projects. In addition, the increasing demand for FRP rebar highlights the significance of glass fiber in addressing challenges associated with traditional reinforcement materials like steel. Moreover, glass fiber's lightweight nature and resistance to corrosion make it an attractive choice for enhancing the longevity and structural integrity of various concrete applications.
Application: Bridges and Buildings Sub-segment to Witness Significant Growth by 2032
The bridges and buildings sub-segment accounted for the largest global fiber reinforced polymer composite rebar market share of 31.5% in 2022 and is expected to grow at the highest CAGR of 11.0% during the forecast period. One of the primary reasons for this dominance is extensive application of FRP rebar in the construction of bridges and buildings worldwide, which highlights its superiority as a structural reinforcement material. Besides, the increasing demand for FRP rebars in the bridges and buildings sector is driven by the need for durable structures, addressing concerns related to corrosion and deterioration associated with traditional steel reinforcement. This widespread adoption of FRP rebar in the bridges & buildings sub-segment highlights its significance in modern construction practices.
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Region: North America Market to Hold Major Market Share by 2032
The fiber reinforced polymer composite rebar market in the North America region accounted for the largest share of 36.3% in 2022 and is predicted to continue to hold major market share by 2032. This growth is mainly owing to the region's leadership in the utilization and demand for FRP rebar product. In addition, technological advancements in construction materials and techniques, coupled with ongoing infrastructure development initiatives, drive the adoption of FRP rebar in North America. Moreover, North America's commitment to innovation and modern construction practices solidifies its leading position in the global FRP rebar landscape.
Leading Players in the Fiber Reinforced Polymer Composite Rebar Market:
Hughes Brothers Inc
Kodiak Fiberglass Rebar LLC
Marshall Composite Technologies LLC
International Grating Inc.
Pultron Composites
BP Composites Ltd.
Dextra Group
Exel Composites
Owens Corning
FiReP Group
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Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fiber reinforced polymer composite rebar market analysis from 2022 to 2032 to identify the prevailing fiber reinforced polymer composite rebar (frp rebar) market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the fiber reinforced polymer composite rebar market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global frp rebar market trends, key players, market segments, application areas, and market growth strategies.
Segments Overview:
By Resin Type
Vinyl Ester
Epoxy
Others
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By Fiber Type
Glass Fiber
Aramid Fiber
Basalt Fiber
Carbon Fiber
Others
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By Application
Highways
Bridges and Buildings
Marine Infrastructures
Water Treatment Facilities
Others
Full Report Summary: https://www.alliedmarketresearch.com/fiber-reinforced-polymer-composite-rebar-frp-rebar-market-A209858
The report provides a detailed analysis of the key players of the global fiber reinforced polymer composite rebar market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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