Lucintel Forecasts Global Composite Rebar Market to Grow at a CAGR of 4.9%

According to the recent study the global composite rebar market is projected to grow at a CAGR of 4.9% from 2020 to 2026. Growth in this market is primarily driven by are 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.

Browse 66 figures / charts and 65 tables in this 131 -page report to understand trends, opportunities and forecast in global composite rebar market by end use industry (construction, electrical isolation, industrial, marine, and others), product (glass fiber, carbon fiber, basalt fiber), and by region (North America, Europe, Asia Pacific, and Rest of the World).

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“Basalt fiber reinforced plastic (BFRP) rebar material market is expected to remain the highest segment during the forecast period.”

Based on product type, the global composite rebar material market is segmented into glass fiber, carbon fiber, basalt fiber. Lucintel forecasts that the basalt fiber market is expected to remain the highest segment because of less price, high penetration and substantial properties including lightweight, magnetic transparency and resistance to hostile environment.

“Within the global composite rebar market, the construction segment is expected to remain the largest end use industry”  

Based on end use industry the construction segment is expected to witness the largest growth over the forecast period because of investments in infrastructure, including bridges, buildings, highways, water distribution systems, and other facilities.

“North America will dominate the global composite rebar market in near future”      

North America is expected to be the largest region over the forecast period because of growth in the replacement of existing and development of new infrastructures. APAC is expected to witness the highest growth over the forecast period.

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Major players of global composite rebar market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Hughes Brothers, FireP International AG, Pultron Composites, Schoeck, Marshall Composites Technology LLC, and Mateenbar Limted are among the major global composite rebar providers.

This unique 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 https://www.lucintel.com/composite-rebar-market.aspx or helpdesk@lucintel.com