Fiber Reinforced Polymer (FRP) Rebars Market to exhibit significant growth prospects over 2016-2024.

Rising end-user preference for lightweight, anti-corrosive, non-abrasive, and robust reinforcements will upswing FRP Rebars Market development. Regional governments have been spending huge capital on construction & renovation activities. In addition, swift infrastructural developments to enhance the urban landscape and promote regional tourism will majorly boost FRP rebars industry trends. For instance, Japan invested more than USD 738 billion in construction projects in 2015, while China allotted funds of over 1.7 trillion for infrastructural growth during that year. According to Global Market Insights, Inc., “Fiber reinforced polymer (FRP) rebars industry, worth USD 590 million in 2015, is expected to hit a targeted revenue of over USD 1.25 billion by 2024.”

Global Market Insights has a new study based report titled " Fiber Reinforced Polymer (FRP) Rebars Market Size By Resin (Polyester, Vinyl Ester), By Product (Glass Fiber Composites, Aramid Fiber Composites, Basalt Fiber Composites, Carbon Fiber Composites), By Application (Marine Structures & Waterfronts, Highways, Bridges & Buildings, Water Treatment Plants, MRI Rooms), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, South Korea, Brazil, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024".

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FRP rebars find extensive applications in MRI rooms, bridges & buildings, marine structures & waterfronts, water treatment plants, and highways. FRP rebars market size in the marine structures & waterfronts sector is predicted to grow at a cumulative rate of more than 7% over the coming timeline. An increase in the number of projects for constructing waterfronts and ports near seas and rivers along with the development of waterways as an effective mode of goods transport facility will contribute toward the business expansion.

FRP rebars industry revenue across water treatment plants sector, which was estimated at more than USD 50 million in 2015, is expected to witness a high surge over the coming years. Rise in the number of desalination plant projects and surge in the waste & water treatment plant constructions will impel the segment growth.

The report offers all-inclusive analysis of:

1 Market structure
2 Factors restraining market growth
3 Market growth drivers
4 Opportunities and challenges
5 Market estimations and forecast for projected period

FRP rebars market share in MRI rooms sector is projected to record significant gains of more than 6.5% over the period from 2016 to 2024. Favorable features such as heat resistance, magnetic transparency, and electric resistance will boost the product demand.

Considering the geographical landscape, North America FRP rebars industry is anticipated to record a CAGR of more than 7% over the coming seven years. Escalated spending on building new structures along with beneficial legislations supporting infrastructure growth will enlarge the business scope across the region. U.S. FRP rebars industry, which contributed USD 270 million toward North America FRP rebars industry revenue in 2015, is expected to make notable contributions toward the regional share in the future. The country had spent more than USD 1 trillion on construction ventures during 2015.

The Fiber Reinforced Polymer (FRP) Rebars Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Fiber Reinforced Polymer (FRP) Rebars Market Industry Insights

3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights

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3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends

4. Fiber Reinforced Polymer (FRP) Rebars Market Insights

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.

5. Fiber Reinforced Polymer (FRP) Rebars Market Application Insights

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.

6. Fiber Reinforced Polymer (FRP) Rebars Market Regional Insights

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.

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7. Competitor Profiles

Product development, product portfolio expansions and supply agreements are the major strategies adopted by the key players to expand geographical coverage. Other manufacturing companies include Schock international, Pultrall Inc., Neuvokas Corp, Composite Rebar Technologies (CRT), Technobasalt Invest LLC, Sireg Geotech Srl, and Fibrolux GmbH.

About Global Market Insights, Inc.:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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