PUNE, India, March 1, 2016 /PRNewswire/ --
The report "FRP Rebar Market by Resin Type, by Fiber Type, by Application (Highways, Bridges, & Buildings, Marine Structures & Waterfronts, Water Treatment Plants, and Others) - Global Forecasts to 2021", published by MarketsandMarkets, The global market is projected to reach USD 91.00 Million by 2021, registering a CAGR of 11.4% between 2016 and 2021.
This growth is fueled by the increasing demand for the renovation and strengthening of new and existing structurally deficient bridges, and growing application of FRP Rebars in other applications such as marine structures & water fronts, and water treatment plants globally.
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Highways, bridges, & buildings application is at the forefront and is driving the FRP rebar market
FRP rebars are used widely in highways, bridges, & buildings application, as their superior strength-to weight ratio significantly exceeds that of any traditional rebar. The Department of Transportation (DoT) in the U.S. and Canada use FRP rebars for highways, bridges, & buildings construction. FRP rebars are mainly used for construction of new bridges and restoration of structurally deficient or functionally obsolete bridges. For instance, according to the National Bridge Inventory (NBI), more than 146,000 bridges are structurally deficient or functionally obsolete in the U.S. as of 2010. Thus, the use of FRP rebars in these applications reduces the life cycle costs, thereby enhancing service life and safety. The Floodway Bridge (Canada) is one of the largest bridges constructed using FRP rebars. In addition, The Florida Keys Bridges (U.S.) is one of the prominent examples where CFRP rebars are used for the strengthening of structurally deficient bridges. Many such projects are executed in the U.S. and Canada where FRP rebars is used as concrete structure reinforcements.
North America is the key regions for FRP rebar market
The North American region is expected to be the largest market for FRP rebars globally due to the increased demand from highways, bridges, & buildings, marine structures & waterfronts, and other applications such as parking structures, MRI rooms, salt storage facilities, and so on. This growth is attributed to construction of new bridges and structural strengthening projects in the U.S. and Canada. In addition, new bridge construction, renovation of structurally deficient bridges, and tunnelling activities for light rail transit (LRT) to upgrade the infrastructure play a pivotal role in boosting the need of FRP rebars in this region. The FRP rebars for decks in bridges, such as Sierrita de la Cruz Creek Bridge (U.S.), Taylor Bridge Manitoba (Canada), Pierce Street Bridge, Lima OH (U.S.) Wotton, Quebec (Canada) are driving the market in North America. In North America, FRP rebars are also used in applications such as water treatment plants and marine structures & waterfronts. FRP rebars are either used in the top mat or top/bottom mat of decks.
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Glass fiber composites: The largest fiber type for FRP rebar
Glass is the leading type of reinforcement fibers used for various applications, such as mining, highways, roads, & buildings construction, and wastewater treatment plants. This growth can be attributed to its superior properties such as strength, flexibility, durability, stability, lightweight, as well as resistance to heat, temperature, and moisture. North America is the biggest market for glass fiber composite rebars, while the ME&A is the fastest-growing market.
Some of the key global players prevailing in the FRP Rebar Market are Hughes Brothers (U.S.), Pultrall Inc. (Canada), Marshall Composites Technologies LLC. (U.S.), Pultron Composites (New Zealand), Armastek (Russia), BP Composites Ltd. (Canada), Dextra Group (Thailand), Firep International AG (Switzerland), A.T.P. Avanzate Tecnologie Plastiche Srl (Italy), International Grating Inc. (U.A.E.), Sireg S.p.A (Italy), among others.
This report covers the market by value and volume for FRP rebars and forecasts the market size till 2021. The report includes the market segmentation by resin type, by type, by application, and by region. It also provides company profiles and competitive strategies adopted by the major market players in the global FRP rebar market.
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