North America Fiber Reinforced Polymer (FRP) Rebars Market
Market Introduction
Fiber reinforced polymer (FRP) rebars are fatigue resistant, lightweight, have more tensile strength than steel, nonmagnetic, and noncorrosive. Governments of various North American countries and other large-scale infrastructure providers now recognize that FRP rebar is an affordable building material that can increase the lifespan of public facilities where corrosion can significantly impact the economy and the environment. The use of fiber reinforcement material has grown significantly due to the growth in corrosion caused by climate change.
Moreover, water treatment plants are subjected to continuous exposure to chloride content in water, causing steel corrosion. Corrosion-resistant FRP rebars are broadly used in water treatment plants, including potable water tanks, refinery reservoirs, sewage treatment facilities, acid ponds, and gold and salt mines. These products, unlike corroded reinforcement, prevent harmful materials from leaching into soil and groundwater. Moreover, highly durable FRP rebar with leakage control and crack control properties acts as ideal reinforcement for underwater applications. FRP rebars, specifically glass fiber reinforced polymer (GFRP) composites, have become popular for replacing aluminum, stainless steel, and steel in water and wastewater applications. FRP rebars are used to reinforce underwater pipelines and waterside platforms' structural parts. Additionally, it has high tensile strength, making it applicable for marine or coastal concrete projects, such as constructing wharves, fending groins, diaphragm walls, or water purifying facilities.
Market Overview and Dynamics
The North America fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 86.98 million in 2022 to US$ 158.56 million by 2028; it is expected to grow at a CAGR of 10.5% from 2022 to 2028.
Concrete is typically strengthened to create a building material that is strong in tension and compression. This reinforcement conventionally consists of steel due to its low cost, high strength, and high elasticity. However, steel corrosion could cost governments of various North American countries and asset owners billions of dollars in maintenance costs to replace or repair aging infrastructure. Numerous tiny continuous fibers are mixed into a polymeric resin matrix to form FRP rebars. The fundamental feature of FRP rebar, which has been created for usage in various structural applications, is that they are a non-corrodible substitute for a steel reinforcing bar. The popularity of FRP rebars has increased in the construction industry. Additionally, it is easier to transport and handle. Hence, the demand for lightweight, high-strength, and noncorrosive rebars is increasing, which is driving the North America fiber reinforced polymer (FRP) rebars market growth.
Key Market Segments
Based on application, the market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. In 2021, the highway bridge and construction segment held the largest share in the market. Increased government spending on infrastructure development projects such as highways has led to the dominance of the highway bridge and construction segment. For instance, according to the U.S. Department of Transportation, the value of federal construction spending on highway and street projects in the US increased to ~US$ 1.4 billion in 2021, while the previous year, it had amounted to US$ 1.1 billion.
Major Sources and Companies Listed
A few major primary and secondary sources referred to while preparing the report on the North America fiber reinforced polymer (FRP) rebars market are paid databases (factiva), publications, hoovers, investor presentations, newsletters, sec archives, annual reports, and other information available on the public domain. Owens Corning; KODIAC Fiberglass Rebar; Marshall Composite Technologies, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.; PULTRALL, Inc.; Schock Bauteile GmbH; and Dextra Group are among the major players operating in the North America fiber reinforced polymer (FRP) rebars market.
Reasons to buy report
The "North America Fiber Reinforced Polymer (FRP) Rebars Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the North America
Strategic insights for the North America Fiber Reinforced Polymer (FRP) Rebars provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 86.98 Million |
| Market Size by 2028 | US$ 158.56 Million |
| Global CAGR (2022 - 2028) | 10.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Fiber Reinforced Polymer (FRP) Rebars refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
List of Companies:
- Owens Corning
- KODIAC Fiberglass Rebar
- MARSHALL COMPOSITE TECHNOLOGIES, LLC.
- TUF-BAR
- Armastek USA
- Pultron Composites
- FiRep Inc.
- PULTRALL, Inc.
- Schock Bauteile GmbH
- Dextra Group
The North America Fiber Reinforced Polymer (FRP) Rebars Market is valued at US$ 86.98 Million in 2022, it is projected to reach US$ 158.56 Million by 2028.
As per our report North America Fiber Reinforced Polymer (FRP) Rebars Market, the market size is valued at US$ 86.98 Million in 2022, projecting it to reach US$ 158.56 Million by 2028. This translates to a CAGR of approximately 10.5% during the forecast period.
The North America Fiber Reinforced Polymer (FRP) Rebars Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Fiber Reinforced Polymer (FRP) Rebars Market report:
The North America Fiber Reinforced Polymer (FRP) Rebars Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Fiber Reinforced Polymer (FRP) Rebars Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Fiber Reinforced Polymer (FRP) Rebars Market value chain can benefit from the information contained in a comprehensive market report.
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