FRP Rebars Market worth USD 91.00 Million by 2021, registering a CAGR of 11.4%
The report "FRP Rebar Market by Resin Type, by Fiber Type, by Application (Highways, Bridges, & Buildings, Marine Structures & Waterfronts, Water Treatment Plants, and Others) - Global Forecasts to 2021", published by MarketsandMarkets, the global market is projected to reach USD 91.00 Million by 2021, registering a CAGR of 11.4% between 2016 and 2021.
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The vinyl ester resin based FRP rebar is expected to the fastest-growing resin type in the FRP rebars market. This is because, it exhibit various properties, such as excellent corrosion resistance to fuels, chemicals, or vapors, durability, heat resistance, and high tensile elongation strength. Additionally, in terms of fiber type, the glass fiber rebar is expected to be the fastest-growing on the FRP rebars market. This it provides superior properties such as strength, flexibility, durability, stability, lightweight, as well as resistance to heat, temperature, and moisture.
The highways, bridges, & buildings application segment is projected to be the fastest-growing in the global FRP rebars market between 2016 and 2021. This can be attributed to the use of FRP rebars for construction of new bridges and restoration of structurally deficient or functionally obsolete bridges. In addition, 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.
Some of the key global players prevailing in the FRP Rebar Market are Hughes Brothers (U.S.), Pultrall Inc. (Canada), Marshall Composites Technologies LLC. (U.S.), Pultron Composites (New Zealand), Armastek (Russia), BP Composites Ltd. (Canada), Dextra Group (Thailand), Firep International AG (Switzerland), A.T.P. Avanzate Tecnologie Plastiche Srl (Italy), International Grating Inc. (U.A.E.), Sireg S.p.A (Italy), among others.
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