Market Size of Composite Rebar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Composite Rebar Market Analysis
The global composite rebar market is projected to register a CAGR of more than 9% during the forecast period (2022-2027).
Composite rebars made from either carbon-fiber-reinforced or aramid fiber-reinforced polymer or glass fiber-reinforced polymer can be readily formed into complex shapes through the pultrusion manufacturing process. Composite rebars have been used by the civil engineering construction industry in the past few years. However, following the outbreak of the novel Coronavirus, nationwide lockdowns around the world, disruption in manufacturing and supply chain activities, production halts, and labor unavailability have negatively impacted the market. However, in 2021, the situation began to get back on track, and now the market is stable and growing steadily.
Over the short term, the increased usage of composite rebars in highways, bridges, and building construction activities is a driving factor stimulating the market demand.
Construction professionals and experts do not prefer using fiber-reinforced polymer rebar in concrete structure reinforcement applications due to the lack of American Society for Testing and Materials (ASTM) guidelines. This is likely to hinder the market in the forecast period.
The construction industry is growing at a fast rate in APAC countries such as India, China, and Japan due to the rising population, rapid urbanization, and huge industrial and revenue growth.
