Composite Rebar Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Composite Rebar Market Introduction
Rebar is a steel bar or the mesh of steel wires used in tension device in reinforced concrete and masonry. Composite rebar is used on a large scale as an alternative to steel reinforcement owing to the durability, corrosion resistance, easy to install, lightweight, and long service life. Various composite rebar are used in construction, however, recently, fiber reinforced polymer rebar have gained popularity in the construction sector. Owing to the less maintenance requirement, composite rebar is used on a large scale in road and bridge construction, airport runways and parking structure.
Composite rebar are also used in weight-sensitive applications where other materials including soil have poor load bearing capacity and in the environmentally sensitive areas where it is undesirable to move heavy equipment. Glass and polymer composite rebar are widely used in electromagnetic and electrical devices as these materials are non-conductive.
Composite Rebar Market: Notable Highlights
Some of the most prominent competitors operating in the competitive landscape of global composite rebar market include –
Composite Rebar Market Dynamics
Rise in New Construction and Repair Driving Composite Rebar Market
Recently, composite rebar has witnessed widespread use as reinforcing steel in concrete. Owing to the numerous advantages over steel rebar, composite rebar are used as an alternative in infrastructure construction. The construction industry is moving towards using composite rebar owing to the low weight and high tensile strength. A rise in renovation projects across countries is also driving demand for composite rebar. New regulations in North America on the use of products in the restoration of bridge is likely to result in the growing demand for composite rebar in the region.
Manufacturers of composite rebar are focusing on product innovation by using new materials such as aramid fiber and basalt composites, owing to the lightweight of these materials.
Basalt Fiber Reinforced Rebar Gaining Traction as Green Construction Material
Basalt fiber reinforced rebar is increasingly replacing steel bar in reinforced concrete offering higher durability and strength. Basalt fibers are emerging as green construction material due to very high chemical resistance as compared to glass, aramid, and carbon fibers. An adequate number of tests to evaluate the feasibility of basalt fiber have as concrete reinforcement has also been conducted. Test on mechanical characteristics of basalt fiber composite rebar has shown a higher level of strength and flexural properties as compared to glass-fiber reinforced rebar.
The demand for basalt fiber reinforced rebar as a new material in civil engineering is growing significantly owing to the low cost and high temperature resistance. Moreover, the construction industry is focusing on various methods of basalt fiber reinforcement, for instance, the US is witnessing increasing use of basalt rebar to strengthen the foundation of offshore wind parks. Workshops are also being conducted across countries in the construction sector to show the advantages of composite rebar over steel rebar.
High Cost of Composite Rebar to Act as Restraining Factor
Although the construction sector is moving fast towards replacing steel rebar with composite rebar, the initial high cost of composite rebar act as the restraining factor in its adoption in construction. Most of the construction projects, especially in the developing regions are still using steel rebar as it is functionally efficient and reasonably inexpensive as compared to the composite rebar. However, in terms of the lifecycle cost, composite rebar is an economical option, as steel rebar can result in high cost repair and maintenance.
In order to provide composite rebar at a reasonable price, manufacturers and researchers are focusing on new fiber and reinforcement materials that are inexpensive as compared to the fibers currently used in concrete including carbon, aramid, and glass.
Composite Rebar Market Segmentation
Based on the product type, the composite rebar market is segmented into
On the basis of application, the composite rebar market is segmented into
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report