The Composite Rebar Market is segmented by Product Type (Glass Fiber Reinforced Polymer Rebar (GFRP Rebar), Carbon Fiber Reinforced Polymer Rebar (CFRP Rebar), and Basalt Fiber Reinforced Polymer Rebar (BFRP Rebar)), by End-Use Type (Construction, Electrical Isolation, Industrial, Marine, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
The Composite Rebar Market is segmented by Product Type...
Composite rebar is used in corrosive and challenging environments. It has a unique combination of mechanical properties that make it a superior alternative to other types of rebar, especially when working in aggressive environments.
It is corrosion-free, has a high tensile strength, is extremely durable, and weighs four times less than steel. Because composite rebar is lightweight, it is less expensive to transport and install.
COVID-19 Impact
Pandemic-induced lockdowns had a significant impact on the construction industry. Construction projects in developing countries came to a halt in 2020. Furthermore, electrical isolation, industrial and marine plants were forced to temporarily shut down during lockdown.
As a result, composite rebar, a sizeable market, could not escape a significant decline during the pandemic. However, the industry is gradually rebounding in the year 2021 with the rise in new transportation construction and growing commercial and residential construction. Furthermore, growing acceptance and increasing R&D activities for FRP (Fiber-Reinforced Plastic) rebars are likely to give rise to composite rebar demand.
GFRP rebars are expected to remain the most sought-after product type in the market during the forecast period.
End-Use-Type Analysis
Construction, Electrical Isolation, Industrial, Marine, and Others
Construction is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
North America is expected to remain the largest region in the market for composite rebars during the forecast period.
By Product Type
“GFRP rebars will be the most in-demand product in the composite rebar market during the forecast period”.
The composite rebar market is segmented as GFRP rebar (Glass Fiber-Reinforced Polymer), CFRP rebar (Carbon Fiber-Reinforced Plastic), and BFRP rebar (Basalt Fiber-Reinforced Polymer).
Among these, GFRP rebars are expected to remain the most sought-after product type in the composite rebar market during the forecast period owing to their increasing demand in roads, bridges, tunnels, MRI rooms, marine structures, and waterfronts.
By End-Use Type
“Construction will be the dominant and fastest-growing market segment during the forecast period”.
The market is segmented as construction, electrical isolation, industrial, marine, and others. Construction is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period.
The demand for composite rebars in the construction industry is being driven by increasing investments in infrastructure development, including bridges, buildings, highways, water distribution systems, and other facilities.
Regional Analysis
“North America is anticipated to stay as the dominant region in the composite rebars market throughout the forecast period”.
The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, North America is expected to remain the largest region in the market for composite rebars during the forecast period.
The region is witnessing high growth in the construction industry with the replacement of existing infrastructure and the development of new ones. As a result, the region serves as the growth engine for the industry. Asia-Pacific and Europe are also likely to generate sizeable opportunities in the coming five years.
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Key Players
Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the Composite Rebar Market (arranged alphabetically)
FireP International
Mateenbar Limited
Owens Corning
Pultron Composites
Schoeck
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Composite Rebar Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
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The composite rebar market is likely to witness an impressive CAGR of 5.4% during the forecast period, driven by the rise in new transportation construction and growing commercial and residential construction.
North America is estimated to remain dominant in the composite rebar market in the foreseen future. The key factor driving the region’s demand for composite rebars is the high growth in the construction industry with the replacement of existing infrastructure and the development of new ones.
Construction is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. Rising infrastructure investments in bridges, buildings, highways, and water systems are boosting the demand for composite rebars in the construction industry.
GFRP rebars are estimated to be the dominant product type during the forecast period given their increasing demand in roads, bridges, tunnels, MRI rooms, marine structures, and waterfronts.
