NEW YORK, March 30, 2016 /PRNewswire/ -- "Increasing demand for non-corrosive and high strength materials breaches to drive the FRP rebars market"
The global FRP rebars market is projected to reach USD 91.00 million by 2021, registering a CAGR of 11.4% between 2016 and 2021. The demand for FRP rebars is projected to grow, as it provide high tensile strength to weight ratio, ability to be molded in various shapes, and potential resistance to adverse environmental conditions, resulting in reducing the maintenance cost. The growing demand from North American region mainly for the renovation and strengthening of new and structurally deficient bridges is projected to fuel the growth of rebars in the global FRP rebars market.
"Highways, bridges, & buildings is the fastest-growing application for the FRP rebars market."
The highways and bridges have been deteriorating rapidly in North America, creating a need to develop structures that are long-lasting and have the ability to withstand harsh environmental conditions, heavy loads, insufficient maintenance, and erroneous maintenance practices such as the use of sodium chloride. The use of steel rebars in these structures leads to deterioration of the bond between steel and concrete owing to corrosion, difficulty in handling large steel plates, and limited delivery lengths. Although the State Department of Transportation uses various other types of rebars such as epoxy, zinc, and galvanized-coated, solid stainless, and stainless clad rebars, they lack the ability to efficiently eradicate corrosion. However, the use of FRP rebars in these infrastructure applications reduces the life cycle costs, thereby enhancing service life and safety
"North America is the fastest-growing market for FRP rebars."
North America is the fastest-growing market for FRP rebars, in terms of value and volume. High economic growth rate, growing construction projects, new agreements, capacity expansions, and new plant establishments by various leading players are few factors leading to the growth of the market for FRP rebars in this region.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories: by company type, by designation, and by region.
- By Company type- Tier 1- 50%, Tier 2- 37%, and Tier 3- 13%
- By Designation- C Level- 46%, Director Level- 21%, and Others- 33%
- By Region- North America- 47%, Europe- 13%, Asia-Pacific- 13%, ME&A (20%) and Latin America (7%)
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Hughes Brothers (Inc.)
- Schoeck International (Germany)
- Dextra Group (Thailand)
- Pultron Composites (New Zealand)
- Pultrall Inc. (Canada)
- Sireg SpA (Italy)
- Kodiac Fiberglass Rebar LLC
- Marshall Composites Technologies LLC
- A.T.P Srl (Italy)
- AL-AFRAJ Group (Saudi Arabia)
- Fibrolux GmbH (Germany)
- International Grating Inc. (UAE)
- BP Composites Ltd. (Canada)
- Armastek (Russia)
- Firep Inc. (Switzerland)
Reasons to buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the FRP rebars market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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