Superb strength, thermal and electrical insulation, light weight, and non-corrosive characteristics of composite materials give a reason for wider employment of FRP products in various industries, for instance, water treatment units, agriculture, all sorts of offshore constructions, chemical industry, and civil engineering (freeways, bridges, and commercial and residential constructions).
The Overview of the FRP Rebar Market
As shown in the study carried out by IndustryARC, considering the current condition and the progress rate the FRP Rebar market can hit $1.1 milliard by 2025.
Fibre reinforced polymer (FRP) rebar represents an advanced substitution for metal rebar. This combo of fibre and resin explains rust-resisting properties of FRP rebar that is basically a fibreglass rod.
Being a bad temperature and electricity conductor, fibre reinforced polymer is much lighter and thus easier to handle and transport. Additionally, its tenacity is significantly greater compared to steel. In the course of time, lower maintenance expenses and superior qualities of various FRP products led to higher demand for composite rebar.
Continuously rising demand for composite rebars resulted in a steady FRP rebar market expansion.
Key Market Trends
Corrosion-proof qualities and outstanding wear capacity of FRP rebar are two main parameters that influenced the market evolution. Initially, composite rebar found wide implementation in civil engineering, including various industrial and residential constructions, roads, and bridges. Easier transportation due to lighter weight as well as fast industrial development and urbanisation across many regions resulted in the elevated demand for products manufactured using reinforced composite materials.
Marine constructions and industrial-grade water treatment premises & facilities are usually located in severe environmental conditions and prone to corrosion and abrasions. Hence, corrosion-resistant durable composite rebars have found implementation in the chemical industry and facilities specialised in wastewater treatment, as well as gold or salt mining. Impressive rupture strength and wear resistance ensured further penetration of composite products to diverse industrial sectors expanding areas of FRP rebar uses, including automotive, robotic, and space development sectors. The vinyl resin in composite rebars enhanced anti-corrosion qualities, wear capacity, and tenacity — new formulas contributed to the product demand and consequent industry evolution. The same applies to composite materials: glass fibre segment was extended with the addition of basalt fibre composite which is characterised by lighter weight and magnetic transparency.
FRP Rebar Market — Dynamics
Since 2019, the polyester has occupied the greatest part in the FRP market compared to epoxy and galvanised reinforcement and fueled the market expansion.
At present, despite the continuously broadening demand for FRP products, composite rebars cannot fully replace steel rebars — sometimes construction engineers stick to conventional steel rebars in concrete structure reinforcement due to the lack of guidelines and higher initial costs for composite ones. Yet still, progressive expansion of new application areas and the growing interest in FRP products drive more interest to FRP rebar and encourage new studies of composite products and their properties.
New scientific studies and ongoing product improvement attract solid capital influx to the FRP rebar niche promoting further market growth.
FRP Rebar Market — Analysis
Multiple parameters affect the market progress and influence the final costs of FRP products. First of all, the price and properties depend on the type of materials used for FRP rebar production. As composite material represents a combination of fibre and resin, qualities of the final product may vary based on a resin variety (i.e., vinyl or polyester) and a fibre variety (basalt fibre composite, glass fibre composite, carbon fibre composite, or aramid fibre composite) used for production of rebars.
Only a few hurdles stifle the expansive market evolution, particularly high capital inputs and insufficient research data in the long-term prospect in some application areas. Additionally, industry standards should be developed to facilitate further market expansion.
FRP Rebar Market — Geographical Outlook
As of now, the leading GEOs in FRP rebar throughput and implementation are North and South Americas, APAC countries, Europe, as well as other regions. North America (the USA and Canada) has an undisputed dominant position, followed by the Asian-Pacific region (China, India, and Japan) and Europe (the UK, France, and Germany). As of now, North America and Europe occupy around 70% of the total FRP Rebar market.
Robust infrastructural progress across North Africa and the Middle East, most notably in the UAE and Saudi Arabia, has led to the increased FRP products demand. New initiatives open new opportunities for stable market growth across the Middle East.
New deeper researches of innovative materials and additional features of FRP materials ensure stable market expansion in the forthcoming years. The implementation of laser and ultrasonic welding techniques favour further expansion of FRP rebar implementation across various industrial sectors.