Global FRP Rebar Market – Overview
The FRP Rebar industry is becoming because of the ascent in demand for FRP Rebar from different applications, internationally. The FRP Rebar market is relied upon to decrease in 2020 because of COVID-19. Nonetheless, the finish of lockdown and recuperation in the application area will invigorate the demand during the conjecture time frame. The FRP Rebar market is relied upon to observe a decrease in market in 2020 because of the COVID-19 pandemic. This destructive infection has antagonistically influenced the whole globe, particularly the North American and European locales. To forestall the further spread of this infection, organizations have closed down their tasks and assembling offices and government limited the development exercises.
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Global FRP Rebar Market – Drivers and Restraints
The increment in demand for remodel and reinforcing existing constructions to diminish fix and maintenance cost and upgrade the existence pattern of the designs drive the requirement for these rebars in the highways, spans and structures. There is appeal for FRP rebars in this section from countries like the US, Canada, Germany, France, the UK, Saudi Arabia, the UAE, China, India, Japan, Brazil, and Mexico. The highways, spans and structures section is additionally expected to enlist the most elevated development rate as a result of the different framework projects being embraced in Canada and the US.
The development business is filling quickly in non-industrial nations, for example, India, China, and Saudi Arabia because of fast urbanization, rising populace, and enormous mechanical and income development. The development of different megastructures and foundation projects in these countries have been progressively utilizing support arrangements, and FRP rebars have been taken on for different undertakings because of their drawn out cost benefits and valuable properties like high strength and protection from erosion.
The use of FRP rebars in construction applications is increasing with the rise in the need for renovation and strengthening of structurally deficient and functionally obsolete bridges. However, these rebars cannot completely replace steel and other non-corrosive rebars available in the market. Construction professionals do not prefer using FRP rebars in concrete structure reinforcement applications owing to the lack of these guidelines.
Global FRP Rebar Market – Competitive Landscape and Notable Developments
- In July 2020, Pultron Composites signed Geosynthetic Partners Ltd. as New Zealand and Pacific Islands distributor of Mateenbar, thereby expanding its presence further in the APAC region.
- In June 2017, Owens Corning acquired Aslan FRP, the concrete reinforcement business of Hughes Brothers Inc. Aslan FRP makes and markets glass and carbon fiber-reinforced composite rebars which are used to reinforce concrete in new and restorative infrastructure projects such as roads, bridges, marine structures, buildings and tunnels. With this acquisition, the company strengthened and expanded its geographical presence in the FRP rebar.
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Global FRP Rebar Market – Geographical Outlook
Based on the regional segmentation, the global FRP rebar market can be segmented into five key regions. These regional segments are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the global FRP rebar market is expected to be dominated by the regional segment of North America. The growth of the North America market can be primarily attributed to the increasing demand for repair and maintenance projects on going in the global construction industry. In addition to this, a glowing presence of several of the leading players in the global FRP rebar market is also expected to work in favor of the overall development of the North America regional segment. Moreover, possibility of addition of more projects in the coming years of the forecast period is also likely to work in favor of the overall growth of the North America FRP rebar market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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