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 study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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