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2021
Composite Rebar Market

Composite Rebar Market by Product Type (Glass Fiber Reinforced Polymer Rebar (GFRP Rebar), Carbon Fiber Reinforced Polymer Rebar (CFRP Rebar), Basalt Fiber Reinforced Polymer Rebar (BFRP Rebar)), and End-user Industry (Construction, Electrical Isolation, Industrial, Marine, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Dec 2021 | 47 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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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.
Market Scope and Structure Analysis

Report Metric

Details

  Market Size Available for Years

  2020-2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Product Type, End User Industry, and Region

  Regions Covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies Covered

Aslan FRP, Schoeck, Armastek, Galen, Dextra Group, Nanjing Fenghui Composite, Yuxing, Shanghai KNP, BP Composites (TUFF-Bar), Pultrall, Pultron Composites, Hubei Yulong, Fusite, Fiberline, Marshall Composite Technologies, Sireg Geotech, Technobasalt, Kodiak Fiberglass Rebar, Tribeni Fiber, Captrad

 

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.
Market Trends

  • 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.
  • In June 2017, Owens Corning acquired Aslan FRP, the concrete reinforcement business of Hughes Brothers Inc. Aslan FRP makes and markets glass and carbon fiber-reinforced composite rebars which are used to reinforce concrete in new and restorative infrastructure projects such as roads, bridges, marine structures, buildings and tunnels. With this acquisition, the company strengthened and expanded its geographical presence in the FRP rebar.

Key Segments Covered
Product Type

  • Glass Fiber Reinforced Polymer Rebar (GFRP Rebar)
  • Carbon Fiber Reinforced Polymer Rebar (CFRP Rebar)
  • Basalt Fiber Reinforced Polymer Rebar (BFRP Rebar)

End User Industry

  • Construction
  • Electrical Isolation
  • Industrial
  • Marine
  • Others

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

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 from 2019 to 2030 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?

 

 
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