Global FRP rebars market estimated to grow at a CAGR of 8.96% uptil 2019

As per Reportlinker, the global FRP rebars market is estimated to grow at a CAGR of 8.96% between2014 and 2019 to reach a value of US$222.40 mln. Due to the increasing applications of FRP rebars in projects involving water treatment plants, marine structures & water fronts and electrical isolation in the Asia-Pacific and the Middle East, the emerging regions are expected to register maximum growth. North America and Europe dominated the FRP rebars market in 2013 and accounted for 61% of the market share. These regions dominate this market due to their usage in roads, bridges & tunnels, electrical isolation, marine structures & water fronts, water treatment plants, MRI rooms, and other applications. The North American region has been the leading market with respect to the demand of FRP rebars but the Middle East will be the fastest growing market among all the regions for the forecast period. The market in the Middle East region is spurred by the large construction and infrastructure projects of Qatar, Saudi Arabia, and UAE that are experiencing increased construction activities, growing infrastructure, and with that, growing demand of FRP rebars. The roads, bridges & tunnels segment occupy the topmost position in the FRP rebars market with 78% share by value in 2013 in which maximum growth is expected from water treatment plants and electrical isolation segments in the near future. High strength, lightweight, non?magnetic &non?corrosive properties, and good fatigue endurance are some of the properties that will drive the growth of this market in roads, bridges & tunnels, electrical isolation, marine structures & water fronts, water treatment plants, MRI rooms, and other segments. The factors responsible for the growing demand of FRP rebars industry are the growth in the global construction spending, growing acceptance of FRP rebars, and initiatives for research &development for FRP rebar products. Fibre Reinforced Polymers (FRP) rebars market in construction industry is a large segment, worth several millions. The fiber reinforced polymer usually consists of a combination of reinforcement fibers and a polymer resin matrix. The glass fibers act as the reinforcement providing the majority of the tensile strength resistance, while the resin surrounds the fibers providing restraint from buckling, durability, and corrosive resistance to the composite system. The increasing demand and cost of the raw materials and energy will require greater productivity, efficiency, and selectivity in industrial processes. The GFRP materials are most extensively used as a raw material for FRP rebars. Most of the FRP rebars are used in roads, bridges & tunnels, electrical isolation, and marine structure & water fronts applications. The factors responsible for the growing demand of FRP rebars in the construction industry are the growth in global construction spending, growing acceptance of FRP rebars, and initiatives for research &development for FRP rebars products.