Asia Pacific Fiber Reinforced Polymer (FRP) Rebars Market

The Asia Pacific fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 65.50 million in 2022 to US$ 122.28 million by 2028. It is estimated to grow at a CAGR of 11.0% from 2022 to 2028.

Increasing Demand for Lightweight, High Strength, and Non-Corrosive Rebars

Increasing corrosion issues in conventional reinforcement techniques have enhanced product penetration in the infrastructure repairing industry. FRP rebar is corrosion resistant, where steel will eventually rust and crack the concrete it is supposed to reinforce, which leads to structural life up to 2 times longer when FRP rebar is used. Resistance to corrosion and abrasion, low weight, and high tensile strength are major factors stimulating industry growth. Over 25% of the overall construction failures are due to corrosion. Inefficiency pertaining to steel reinforcement causing concrete failures will positively influence the upgraded non-corrosive construction material adoption. Though FRP rebars are relatively expensive compared to traditional steel rebars, they cut down the cost of maintenance for any project and provide additional benefits like more strength and easier installation during construction due to their high tensile strength and low weight. Moreover, these rebars are not affected by external factors such as corrosion and harsh environmental conditions, they increase the lifespan of any structure, and maintain structural integrity. Additionally, it is easier to transport and handle. Due to these factors, the demand for lightweight, high-strength, and non-corrosive rebars is increasing and is driving the growth of the Asia Pacific fiber reinforced polymer (FRP) rebars market.

Asia Pacific Fiber Reinforced Polymer (FRP) Rebars Market Overview

APAC comprises China, India, Japan, Australia, South Korea, and the Rest of APAC. APAC is projected to witness a high growth in the Fiber Reinforced Polymer (FRP) Rebars market during the forecast period. The growing demand of construction industry in the region is likely to drive the market. Fiber Reinforced Polymer (FRP) Rebars manufacture highway structures like signboards, drainage systems, guardrails, and bridge decks, auto skyways, water and sewage, utility poles and pipelines for gas. A Fiber Reinforced Polymer (FRP) Rebar can stand harsh weather conditions, heavy rains, and water submerged conditions. The following factors drive the Fiber Reinforced Polymer (FRP) Rebars market in the region while recording highway bridge and construction as the leading segment, followed by water treatment plants. Moreover, APAC is also well known for its water treatment plants. The high growth rate in the region is attributed to the increasing population, with improving economic conditions and increasing need for large scale infrastructure projects to be done efficiently. Fiber Reinforced Polymer (FRP) Rebars are used in reinforcing underwater pipelines which are used in water treatment plants. It plays a critical role in overcoming corrosion related issues in water facilities. The growing population in APAC is driving the construction market and water treatment plants industry, as more people are becoming aware of their health resulting in more water treatment plants being constructed during the forecast period, this is driving the Asia Pacific fiber reinforced polymer (FRP) rebars market.

Asia Pacific Fiber Reinforced Polymer (FRP) Rebars Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Fiber Reinforced Polymer (FRP) Rebars Market Segmentation

The Asia Pacific fiber reinforced polymer (FRP) rebars market is segmented into by resin type, fiber type, application, and country. 

Based on resin type, the Asia Pacific fiber reinforced polymer (FRP) rebars market is segmented into vinyl ester, polyester, epoxy, and others. The vinyl ester segment registered the largest market share in 2022.

Based on fiber type, the Asia Pacific fiber reinforced polymer (FRP) rebars market is segmented into glass fiber composites, carbon fiber composites, basalt fiber composites. The glass fiber composites segment registered the largest market share in 2022.

Based on application, the Asia Pacific fiber reinforced polymer (FRP) rebars market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. The highway bridge and construction segment held the largest market share in 2022.

Based on country, the Asia Pacific fiber reinforced polymer (FRP) rebars market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

Owens Corning; Pultron Composites; FiRep Inc.; Schock Bauteile GmbH; and Dextra Group are the leading companies operating in the Asia Pacific fiber reinforced polymer (FRP) rebars market.