Global fiber reinforced polymer rebar market to grow on rising demand from transportation & construction

28-Oct-16

Rising composites demand from transportation and construction sectors due to strong outlook toward truck & trailers production and commercial infrastructure are expected driving factors which inspire global fiber reinforced polymer rebar market growth, due to which global fiber reinforced polymer rebar market is expected to grow at a CAGR of 11% in the forecasted period, 2016-2022, as per Research and Markets.

Key geographical regions dominating the FRP rebar market that includes North America with largest application in bridges, roads, and tunnels along with electrical isolation. The US and the Canada generate moderate to huge demand for FRP rebar in marine and water front structural applications. Middle East is anticipated to be the rapidly growing. Global fiber reinforced polymer rebar market has witnessed significant growth on account of rising hard infrastructure construction in emerging markets of Asia Pacific and Latin America. Construction industry development in India and China due to economy growth and rising in manufacturing capacities is estimated to promote APAC FRP rebar market size growth. Growing efficiency, greater productivity, and selective application in construction are key factors which are driving the growth of global market of FRP rebar. This is also providing higher tensile strength and is lightweight in nature thereby rising global market demand. Great fatigue endurance and non-magnetic properties are also likely to contribute to the development of FRP rebar market.