Sellbyville, DE -- (SBWIRE) -- 11/12/2018 -- GMI presents a most up-to-date research on "Fiber Reinforced Polymer (FRP) Rebar Market – Global Industry Analysis, Size, Share, Product (Glass Fiber Composites, Aramid Fiber Composites, Basalt Fiber Composites, Carbon Fiber Composites), Growth Potential, Trends Statistics, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, South Korea, Brazil, Saudi Arabia, UAE, South Africa) and Forecast 2017 – 2024".

FRP Rebar Market size is set to exceed USD 1.25 billion by 2024; according to a new research report by Global Market Insights, Inc. Potential outlook in highways, bridges & buildings along with water treatment plants will propel the FRP rebar market growth. Increasing renovation projects on functionally deficient structures has encouraged the product demand in the market. Shift in trend towards non-corrosive, lightweight, durable reinforcements coupled with thermal & electric insulation are some of the significant factors fueling the industry growth.

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FRP rebar market from highways, bridges & buildings was valued over USD 460 Million in 2015. Increasing manufacturing facilities, infrastructure development along with global construction industry expansion will fuel the revenue growth. Regulatory compliance for product usage in restoration of bridges particularly in North America will trigger the demand.

Penetration of innovative materials including basalt and aramid fiber composites have boosted industry growth, owing to its significant properties including low weight and improved handling. Increasing infrastructure spending mainly in emerging economies including India, China, and Japan, will fuel the FRP rebar demand. Emergence of glass fiber composite as an alternative to galvanized and stainless steel reinforcements has resulted in the robust growth of the product development.

Basalt fiber composite FRP rebar market will witness CAGR around 9% by 2024. Easy availability, resistance to hostile environment, magnetic transparency, insubstantial, and corrosion resistance are the key properties driving product demand.

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North America, led by the U.S. was valued over USD 270 million in 2015. Stringent government regulations for human safety in construction industry will have a positive outlook in this region. Europe, dominated by Germany and UK fiber reinforced polymer rebars market is growing substantially owing to increased restoring and renovation activities for both commercial and residential buildings. Increased government spending on infrastructure development including bridges, roads and building will drive the regional demand.

Asia-Pacific will witness growth around 8% up to 2024. Increasing construction activities in emerging nations including, China and India will enhance fiber reinforced polymer rebars market. Increasing government support for infrastructure activities will further fuel the industry growth in this region.

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Global fiber reinforced polymer rebars market is at growth stage focusing on new product development. Several players are engaged in expanding their product portfolio to sustain in the industry. Key participants include Marshall Composites Systems, BP Composites, Hughes Brothers, Putrall, Fibrolux, Sireg Geotech, CRT and Technobasalt Invest LLC.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.