Rebar is a steel bar or the mesh of steel wires used in tension devices in reinforced concrete and strengthens the masonry structure. Composite rebar is used on a large scale as an alternative to steel reinforcement owing to its durability, corrosion resistance, ease of installation, lightweight, and long service life. Various composite rebars are used in construction, however, recently, fiber-reinforced polymer rebar has gained popularity in the construction sector.
As composite rebar bears low maintenance requirements, composite rebar is used on a large scale in road and bridge construction, airport runways, and parking structure. Composite rebar is also used in weight-sensitive applications where other materials including soil have poor load-bearing capacity and in environmentally sensitive areas where it is undesirable to move heavy equipment. Glass and polymer composite rebar is widely used in electromagnetic and electrical devices as these materials are non-conductive.
COVID-19 Impact analysis
- During the pandemic, the Electrical Isolation, Industrial, and Marine plants were temporarily on halt, which has resulted in less consumption of composite rebar in these industries, which in turn has adverse impact on the growth of composite rebar market.
- The lockdown situation has brought about the shutdown of various manufacturing units of composite rebar which brought about a destruction of composite rebar sales and also disrupted the supply chain.
- Construction industry has been severely affected due to the nationwide lockdowns. It has hampered the construction of infrastructure and buildings in various developing countries. Being the major application area for composite rebar, it restricts the growth prospects for the composite rebar market.
- To prevent the further spread of this virus, companies have shut down their operational processes which has led to a reduction in the consumption of Rebar across applications such as highways, bridges & buildings: marine structures & waterfronts; water treatment plants and others.
Top Impacting Factors
Composite rebar has witnessed increased use as reinforcing steel in concrete. Composite rebar is used as an alternative in infrastructure construction owing to the numerous advantages over steel rebar. The construction industry is more preferred to use composite rebar owing to its low weight and high tensile strength. A rise in the number of renovation projects across different developing countries is also driving demand for composite rebar. Manufacturers of composite rebar are focusing on product innovation by using new materials such as aramid fiber and basalt composites, due to the lightweight of these materials. Basalt fiber reinforced rebar is increasingly replacing steel bar in reinforced concrete offering higher durability and strength as green construction material, due to very high chemical resistance as compared to glass, aramid, and carbon fibers. The demand for basalt fiber reinforced rebar as an advance material used in civil engineering is growing prominently due to the low cost and high-temperature resistance. However, the initial high cost of composite rebar act as the restraining factor in its adoption in construction. Most of the construction projects, especially in the developing regions are still using steel rebar as it is functionally efficient and affordable as compared to the composite rebar. However, the lifecycle cost of composite rebar is better option than steel rebar, as steel rebar can result in high-cost repair and maintenance. In order to provide composite rebar at a reasonable price, manufacturers and researchers are focusing on new fiber and reinforcement materials that are inexpensive as compared to the fibers currently used in concrete which is a challenge for the market.
- In July 2020, Pultron Composites signed Geosynthetic Partners Ltd. as New Zealand and Pacific Islands distributor of Mateenbar, which further help in expanding its presence further in the Asia-Pacific region.
Key Benefits of the Report
- This study presents the analytical depiction of the composite rebar industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the composite rebar market share.
- The current market is quantitatively analyzed to highlight the composite rebar market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed composite rebar market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the composite rebar Report
- Who are the leading market players active in the composite rebar market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Which Government regulations might challenge the status of key regional markets?
- What are the key barriers to enter for the new players in the market?
- What value proposition should businesses aim at while making new research and development funding?
Composite Rebar Market Report Highlights
By Product Type
By End User Industry
Key Market Players
Fusite, Fiberline,, Kodiak Fiberglass Rebar,, Armastek,, Yuxing, Shanghai KNP,, Dextra Group,, Galen,, Aslan FRP,, Nanjing Fenghui Composite,, Marshall Composite Technologies,, Tribeni Fiber,, Hubei Yulong,, Technobasalt,, BP Composites (TUFF-Bar),, Pultrall, Pultron Composites,, Sireg Geotech,, Captrad, Schoeck,