According to the recent study the composite rebar market is projected to reach an estimated $225.1 million by 2027 from $166 million in 2021, at a CAGR of 5.2% from 2021 to 2027. Growth in this market is primarily driven by increase in new transportation construction and growth in commercial and residential construction. Growing acceptance of fiber reinforced plastic (FRP) rebars and initiatives for research and development for FRP rebars are other key drivers for this market.
Browse 66 figures / charts and 65 tables in this 131 -page report to understand trends, opportunities and forecast in composite rebar market by end use (construction, electrical isolation, industrial, marine, and others), product (glass fiber, carbon fiber, basalt fiber) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Construction market is expected to remain the largest segment during the forecast period.”
Based on end use, the composite rebar market is segmented into construction, electrical isolation, industrial, marine, and others. Lucintel forecasts that the construction market is expected to remain the largest segment due to because of investments in infrastructure, including bridges, buildings, highways, water distribution systems, and other facilities.
“Within the composite rebar market, the Glass fiber reinforced plastic (GFRP) segment is expected to remain the largest product type”
Based on product type the glass fiber reinforced plastic (GFRP) segment is expected to witness the highest growth over the forecast period due to demand in roads, bridges, tunnels, MRI rooms, marine structures, and water fronts.
“North America will dominate the composite rebar market in near future”
North America is expected to remain the largest region and witness the highest growth over the forecast period because of growth in the replacement of existing and development of new infrastructures.
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Major players of composite rebar market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Hughes Brothers, FireP International AG, Pultron Composites, Schoeck, Marshall Composite Technology LLC, and Mateenbar Limited are among the major composite rebar providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/composite-rebar-market.aspx or [email protected]