According to a new market report published by Lucintel, the future of the global composite rebar market looks good with opportunities in the construction, electrical isolation, industrial, marine, and others. The global composite rebar market is forecast to grow at a CAGR of 5.4% by value from 2015 to 2020. The major drivers of growth for this market are an 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.
In this market, glass fiber, carbon fiber, basalt fiber with polyester, vinyl ester, and epoxy resins are used to manufacture FRP rebars. Lucintel predicts that the demand for glass fiber reinforced polymer (GFRP) rebars is likely to experience the highest growth in the forecast period, supported by growing demand in roads, bridges, tunnels, MRI rooms, marine structures, and water fronts. On the basis of its comprehensive research, Lucintel forecasts that the construction and electrical isolation segments are expected to show above average growth during the forecast period.
Within the FRP rebar market, construction is expected to remain the largest market by value and volume consumption. Corrosion resistance, high strength, light weight, non-magnetic, and good fatigue endurance are the properties that will drive the growth of FRP rebars in construction applications.
North America is expected to remain the largest market due to growth in the replacement of existing and development of new infrastructures. In the US, more than a quarter of all existing bridges and roads are deficient and need repair or replacement. This will help to spur the demand for the FRP rebar market.
Rest of the World is expected to show above average growth during the forecast period by virtue of increasing expenditure on urban development in Qatar, Saudi Arabia, and other Gulf Cooperation Council (GCC) countries.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of composite rebars can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for end users.
The one emerging trend, which directly impacts the dynamics of the industry, is the introduction of nano-sized filler used in the manufacturing of FRP rebars. Hughes Brothers, FireP International AG, Pultron Composites, Schoeck, Marshall Composites Technology LLC, International Gratings Inc., Armastek, and Dextra Group are among the major players in the composite rebar market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global composite rebar market by product type, end use industry type and region and has come up with a comprehensive research report, “The Global Composite Rebar Market 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes the forecast for the global composite rebar market through 2020, segmented by product type, end use industry type and region as follows:
By product type [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
· Glass Fiber Reinforced Polymer Rebar (GFRP Rebar)
· Carbon Fiber Reinforced Polymer Rebar (CFRP Rebar)
· Basalt Fiber Reinforced Polymer Rebar (BFRP Rebar)
By region [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
· North America
· Asia Pacific
· Rest of the World
By end use industry [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
· Electrical Isolation
This 118-page 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 http://www.lucintel.com/reports/chemical_composites/the_global_composite_rebar_market_2015_2020_trends_forecast_and_opportunity_analysis_february_2016.aspx or firstname.lastname@example.org.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth in the global composite rebar market by applications and region?
Q. 2.Which product segments will grow at a faster pace and why?
Q. 3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are emerging trends in this market and reasons behind them?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market and which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities has transpired in the last 5 years in this market and what is its impact on the industry?