Fiber Reinforced Polymer Composite Rebar (FRP Rebar) Market globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
Sanskriti Composites Private Limited (India)
Antop Global Technology Co., Ltd. (China)
“GFRP rebars is the fastest-growing segment by fiber type in terms of value and volume.”
GFRP rebars account for the largest share in the global FRP rebar market in terms of volume. GFRP rebars are made from glass fibers by using the pultrusion method. These rebars are highly resistant to corrosion and have high tensile strength. These are less expensive when compared with BFRP and CFRP rebars and thus have a higher growth rate.
“Vinyl Ester Resins is the fastest-growing segment in the global FRP rebar market in terms of value and volume.”
The Worldwide FRP Rebar Industry is Expected to Reach $344 Million by 2026 at a CAGR of 13% from 2021
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The global FRP rebar market is expected to grow from USD 186 million in 2021 to USD 344 million by 2026, at a CAGR of 13.0% during the forecast period. Increasing demand from the construction industry is driving the growth of the market.
These FRP rebars are used in construction of roads, bridges, buildings, highways, marine structures, waterfronts, water treatment plants, MRI rooms, ATC, parking structures, salt storage facilities, chemical plants, and smelters. However, the negative impact of the COVID-19 pandemic on the construction sector has affected the FRP rebar market adversely.