The North America fiber reinforced polymer (FRP) rebars market is expected to grow from US$ 86.98 million in 2022 to US$ 158.56 million by 2028; it is expected to grow at a CAGR of 10.5% from 2022 to 2028.
The construction industry is always searching for better alternatives to traditionally used materials such as wood, steel, and aluminum. FRP composite material is emerging as a viable alternative for various infrastructure and building projects. FRP rebars are resistant to a wide range of chemicals and are not affected by oxidation or corrosion. For instance, fiberglass rebar can withstand harsh weather conditions, continuous rain, and water submerged conditions. FRP's durability makes it a preferred choice for many outdoor construction projects as they are easy to cut, shape, and install. Moreover, their minimal maintenance requirements lower overall construction costs.
The North America fiber reinforced polymer (FRP) rebars market is segmented into resin type, fiber type, and application. Based on application, the North America fiber reinforced polymer (FRP) rebars market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. The highway bridge and construction segment held the largest share in the market in 2021. The increasing highway construction projects have boosted the sales of construction material in the region and created an opportunity for the North America fiber reinforced polymer (FRP) rebars market. Many more advanced North American countries rely on green construction methods to save resources and provide buildings with long service life. Thus, FRP rebars are becoming increasingly popular in constructing infrastructure, large structures, and commercial buildings.
Based on country, the North America fiber reinforced polymer (FRP) rebars market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest revenue share of the market. The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded the grant of US$ 12.6 million to 9 marine highway projects across the US under America’s Marine Highway Program (AMHP). FRP rebars are widely used in marine structures and waterfronts. Such government initiatives to develop infrastructure led to the dominance of the North America fiber reinforced polymer (FRP) rebars market.
Owens Corning; KODIAC Fiberglass Rebar; MARSHALL COMPOSITE TECHNOLOGIES, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.; PULTRALL, Inc.; Schock Bauteile GmbH; and Dextra Group are a few of the major players operating in the North America fiber reinforced polymer (FRP) rebars market. Players are adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitors in the North America fiber reinforced polymer (FRP) rebars market. Market players are highly focused on the development of high-quality and innovative product offerings to fulfill the customer’s requirements.
The overall North America fiber reinforced polymer (FRP) rebars market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the North America fiber reinforced polymer (FRP) rebars market.
The construction industry is always searching for better alternatives to traditionally used materials such as wood, steel, and aluminum. FRP composite material is emerging as a viable alternative for various infrastructure and building projects. FRP rebars are resistant to a wide range of chemicals and are not affected by oxidation or corrosion. For instance, fiberglass rebar can withstand harsh weather conditions, continuous rain, and water submerged conditions. FRP's durability makes it a preferred choice for many outdoor construction projects as they are easy to cut, shape, and install. Moreover, their minimal maintenance requirements lower overall construction costs.
The North America fiber reinforced polymer (FRP) rebars market is segmented into resin type, fiber type, and application. Based on application, the North America fiber reinforced polymer (FRP) rebars market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants, and others. The highway bridge and construction segment held the largest share in the market in 2021. The increasing highway construction projects have boosted the sales of construction material in the region and created an opportunity for the North America fiber reinforced polymer (FRP) rebars market. Many more advanced North American countries rely on green construction methods to save resources and provide buildings with long service life. Thus, FRP rebars are becoming increasingly popular in constructing infrastructure, large structures, and commercial buildings.
Based on country, the North America fiber reinforced polymer (FRP) rebars market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest revenue share of the market. The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded the grant of US$ 12.6 million to 9 marine highway projects across the US under America’s Marine Highway Program (AMHP). FRP rebars are widely used in marine structures and waterfronts. Such government initiatives to develop infrastructure led to the dominance of the North America fiber reinforced polymer (FRP) rebars market.
Owens Corning; KODIAC Fiberglass Rebar; MARSHALL COMPOSITE TECHNOLOGIES, LLC; TUF-BAR; Armastek USA; Pultron Composites; FiRep Inc.; PULTRALL, Inc.; Schock Bauteile GmbH; and Dextra Group are a few of the major players operating in the North America fiber reinforced polymer (FRP) rebars market. Players are adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitors in the North America fiber reinforced polymer (FRP) rebars market. Market players are highly focused on the development of high-quality and innovative product offerings to fulfill the customer’s requirements.
The overall North America fiber reinforced polymer (FRP) rebars market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the North America fiber reinforced polymer (FRP) rebars market.
Table of Contents
1. Introduction
3. Research Methodology
4. North America Fiber Reinforced Polymer (FRP) Rebars Market Landscape
5. North America Fiber Reinforced Polymer (FRP) Rebars Market - Key Market Dynamics
6. North America Fiber Reinforced Polymer (FRP) Rebars Market - Global Market Analysis
7. North America Fiber Reinforced Polymer (FRP) Rebars Market Analysis - By Resin Type
8. North America Fiber Reinforced Polymer (FRP) Rebars Market Analysis - Fiber Type
9. North America Fiber Reinforced Polymer (FRP) Rebars Market Analysis - Application
10. North America Fiber Reinforced Polymer (FRP) Rebars Market - Geographical Analysis
11. Impact of COVID-19 Pandemic on North America FRP Rebars Market
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Figures
Companies Mentioned
- Owens Corning
- KODIAC Fiberglass Rebar
- MARSHALL COMPOSITE TECHNOLOGIES, LLC-
- TUF-BAR
- Armastek USA
- Pultron Composites
- FiRep Inc.
- PULTRALL, Inc.
- Schock Bauteile GmbH
- Dextra Group
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 131 |
| Published | August 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 86.98 Million |
| Forecasted Market Value ( USD | $ 158.56 Million |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
