Glass Fiber Reinforced Polymer (GFRP) Rebar is a type of composite material that is made from combining glass fibers with a polymer matrix. This combination creates a strong, durable and corrosion-resistant material that can be used to reinforce concrete structures. GFRP Rebar has many advantages over traditional steel rebar including increased strength, increased flexibility, lightweight, and ease of installation.
Benefits of Starting GFRP Rebar Industry
Glass Fiber Reinforced Polymer (GFRP) Rebar is an innovative composite material made up of epoxy resin and glass fiber that offers a unique alternative to traditional steel rebar. It has been increasingly adopted in the construction industry due to its numerous advantages, such as its strength and flexibility, corrosion-resistance, light weight, and electrical insulation properties.
GFRP rebar is relatively inexpensive compared to traditional steel, making it a cost-effective option for construction projects. Additionally, it is highly versatile and can be used in any type of application or environment due to its strength and corrosion resistance. Finally, GFRP rebar is 100% recyclable, which makes it an eco-friendly solution for construction projects.
These factors have contributed to the growing popularity of GFRP rebar in the construction industry and made the GFRP rebar industry a booming one. The increasing demand for GFRP rebar has led to increased production and research into new applications and products. As more people become aware of the numerous advantages of using GFRP rebar, its usage is expected to further increase in the near future.
Global Market Outlook
The global GFRP Rebar market size is projected to grow from USD 187 million in 2021 to USD 389 million by 2027, at a CAGR of 13.0%. Increasing Application in Marine Industry and Rising Demand for Wind Energy Composites is likely to act as an opportunity for the market.
Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Glass fiber reinforced polymer (GFRP) is widely used in the construction industry for non-structural elements, such as facade, panels, piping, and channels.
The Asia-Pacific region has become an attractive market for the investors, owing to the presence of a number of emerging economies, such as India, China, Indonesia, Vietnam, and others in the region. Owing to strong economic growth, domestic companies have been expanding their business. Along with this, foreign companies have been entering these markets to take advantage of the prevailing opportunities. This has created demand for commercial construction, such as offices, production houses, buildings, warehouses, etc., leading to an increase in the construction activities in these countries.
Conclusion
The increasing use of GFRP rebar in the construction industry has resulted in a booming industry for manufacturers. In addition to the aforementioned benefits of using this product, there are several other factors that have driven the growth of the GFRP rebar industry. GFRP Rebar can be easily cut, bent, and formed into any shape or size without the need for additional fabrication or specialized tools.
Because of all these advantages, GFRP Rebar is becoming increasingly popular among builders and engineers who are looking for a more cost-effective solution to their reinforcement needs. With so many benefits, it’s no wonder why GFRP Rebar is rapidly becoming the go-to choice for construction projects around the world.
Key Players
· American Fiberglass Rebar
· American Grating, LLC
· Engineered Composites Ltd
· B&B FRP Manufacturing INC.
· TUF-BAR
· FRP Composites Inc.
· Ten Cate NV
· Zoltek Companies, Inc.
· Hyosung Corporation
· Mitsubishi Rayon Co., Ltd.
· SGL Group
· DowAksa.
