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The composite rebar market size is estimated to grow at a CAGR of 9.56% between 2022 and 2027. The market size is forecast to increase by USD 306.94 million. The growth of the market depends on several factors including increased government spending on infrastructure, growing global commercial and residential construction, and the adoption of carbon fiber-reinforced polymer rebar in the automotive industry.
This composite rebar market report extensively covers market segmentation by type (glass fiber, carbon fiber, and basalt fiber), end-user (construction, marine, industrial, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Composite Rebar Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Armastek: The company offers Composite rebar for various industries such as civil construction, Automobile and Rail Way infrastructure, Tunneling and underground construction, Hydraulic engineering, and Infrastructure and industrial construction.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The glass fiber segment is estimated to witness significant growth during the forecast period. With increasing development in emerging countries such as China, India, and Japan, the construction industry in these countries is experiencing significant growth. Glass fibers are increasingly being used in applications such as roofs, walls, windows, and doors. It is used as a building composite material. Glass fibers are used as a reinforcing filler in printed circuit boards (PCBs).
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The glass fiber segment was the largest segment and was valued at USD 287.58 million in 2017. Owing to mechanical and thermal properties, glass fibers are also used in electrical and electronic devices, energy-producing apparatus, spacecraft communication, small home appliances, and medical equipment. Due to its high tensile strength, bending strength, and compressive strength, glass fiber is widely used in construction activities. GFRC is 75% lighter than steel and twice as strong. The increasing number of buildings and construction activities will increase the demand for glass fiber, which will boost the global composite rebar market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. High demand for composite rebar in the construction, transportation, and wind energy sectors is driving the growth of the composite rebar market in North America. Technological advances in glass fiber products have increased demand for consumer products, which has had a significant impact on the composite rebar market in the region. The region will see the highest demand for composite rebar in 2022 due to a surge in industrial and infrastructure construction developments, and rising demand for electronics and wind power.
The COVID-19 outbreak negatively impacted the growth of the composite rebar market in North America in 2020. The growth of the construction sector declined by 6% of the forecast output in North America in 2020. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and the composite rebar market in the North American region is witnessing growth owing to ongoing and planned infrastructural projects. Hence, the composite rebar utilization in redevelopment projects in the region is anticipated to grow significantly, which will boost the regional composite rebar market during the forecast period.
The composite rebar market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Composite Rebar Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.56% |
Market growth 2023-2027 |
USD 306.94 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALP Supply, Armastek, Composite Group Chelyabinsk LLC, Everest Composites Pvt. Ltd., FiReP Rebar Technology GmbH, Galen LLC, Hubei Yulong group Jinli New Material Co. Ltd., Kodiak Fiberglass Rebar, Marshall Composite Technology LLC, Mateenbar Ltd., MRG Composites India Pvt. Ltd., Nanjing Fenghui Composite Material Co. Ltd., Owens Corning, Pultron Composites Ltd., Schock Bauteile GmbH, SFTec LLC, Sireg Geotech Srl, Technobasalt Invest LLC, Tribeni Fiber Pvt Ltd., and TUF BAR Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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