PUBLISHER: Allied Market Research | PRODUCT CODE: 1508825
PUBLISHER: Allied Market Research | PRODUCT CODE: 1508825
The U.S. glass fiber reinforced polymer rebar market size was valued at $30.6 million in 2023, and is projected to reach $101.4 million by 2033, registering a CAGR of 10.8% from 2024 to 2033. The U.S. glass fiber reinforced polymer rebar market is experiencing significant growth, driven by several key factors. One of the primary drivers is the increasing demand for corrosion-resistant materials in construction. Traditional steel rebar is prone to corrosion, especially in environments exposed to moisture and salt, such as coastal areas and structures subjected to deicing salts. GFRP rebar offers superior resistance to corrosion, extending the lifespan of concrete structures and reducing maintenance costs. This advantage is particularly appealing to infrastructure projects like bridges, highways, and marine structures, where longevity and durability are critical.
Introduction
Glass Fiber Reinforced Polymer (GFRP) rebar is a composite material consisting of a polymer matrix reinforced with glass fibers. The polymer matrix, typically made from epoxy, vinyl ester, or polyester resins, provides the structural framework that binds and protects the glass fibers, which are the primary source of the material's strength and stiffness. The glass fibers are made from fine strands of glass, which are woven or bundled together to form the rebar. This combination results in a highly durable and lightweight material that exhibits superior resistance to corrosion, making it an ideal alternative to traditional steel rebar, especially in environments where corrosion is a significant concern.
Key Takeaways
The U.S. glass fiber reinforced polymer rebar industry is highly fragmented, with several players Dextra Group, Kodiak Fiberglass Rebar, Mateenbar Limited, New York Council of Nonprofits, Inc., Owens Corning, Rochling SE & Co. KG, SFTec Inc., Sireg USA, American Fiberglass Rebar, and GatorBar
More than 2,765 product literatures, industry releases, annual reports, and other such documents of major industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The segment analysis of U.S. in terms of value ($ million) and volume (million meter) during the forecast period 2024-2033 is covered in the U.S. glass fiber reinforced polymer rebar market report.
Data related to U.S. states are also included in the report.
Market Dynamics
The lightweight nature of GFRP rebar simplifies transportation and installation, reducing labor costs and construction time. In addition, in environments where traditional steel rebar interacts with chemicals or be subjected to aggressive substances, such as wastewater treatment plants or chemical processing facilities, GFRP rebar's corrosion resistance is particularly advantageous. Its non-reactive properties contribute to the longevity of concrete structures, minimizing the risk of degradation and ensuring compliance with stringent regulatory standards. All these factors are expected to drive the demand for the U.S. glass fiber reinforced polymer rebar market during the forecast period.
However, traditional construction industry practices restraints the adoption of glass fiber reinforced polymer (GFRP) rebar in the U.S., hindering its growth potential. In addition, concerns regarding the initial cost of GFRP rebar compared to steel rebar deter some decision-makers from choosing them. Although GFRP rebar offers long-term benefits such as corrosion resistance and reduced maintenance costs, the upfront investment required for its implementation is perceived as a barrier. All these factors hamper the U.S. glass fiber reinforced polymer rebar market growth. The surge in number of transportation projects and urban development projects across the U.S. presents opportunities for the widespread adoption of glass fiber reinforced polymer (GFRP) rebar. As the country invests in modernizing its infrastructure, there is a rise in recognition of the limitations of traditional steel reinforcement in concrete structures, particularly in environments prone to corrosion. GFRP rebar has emerged as a compelling solution due to its corrosion resistance and durability, offering a sustainable alternative that significantly extends the lifespan of infrastructure assets. All these factors are anticipated to offer new growth opportunities for U.S. glass fiber reinforced polymer rebar market during the forecast period.
Segments Overview
The U.S. glass fiber reinforced polymer rebar market is segmented into resin type, application, and region. On the basis of the resin type, the market is classified as vinyl ester, epoxy, and others. On the basis of application, the market is categorized into residential buildings, non-residential buildings, public construction, oil & gas wells, and others. Region wise, the market is analyzed across Northeast, South, Midwest, and Rest of U.S. Rest of U.S. was the highest revenue contributor, growing with a CAGR of 10.9%. Rest of U.S. includes West U.S. and other states. Alaska, Colorado, Guam, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming fall under West U.S. Other states include Indiana, Iowa, Kansas, Nebraska, North Dakota, South Dakota, Wisconsin, Alabama, Arkansas, Delaware, Kentucky, Louisiana, Maryland, Oklahoma, Tennessee, New Jersey, Mississippi, among others.
The Western U.S. has a substantial need for infrastructure development and rehabilitation, including bridges, highways, and other critical infrastructure. GFRP rebar is favored for its durability and resistance to corrosion, making it ideal for use in these projects, especially in harsh environments. The region's high seismic activity necessitates the use of materials that offer superior performance under dynamic loading conditions. GFRP rebar is known for its high tensile strength and flexibility, which can enhance the earthquake resilience of structures. Further, traditional steel rebar is prone to corrosion, especially in environments with high moisture or salt exposure, such as coastal areas. GFRP rebar offers excellent corrosion resistance, which increases the lifespan of concrete structures and reduces maintenance costs. There is a growing emphasis on sustainable construction practices in the Western U.S. GFRP rebar contributes to this by reducing the carbon footprint of construction projects due to its longer lifespan and lower maintenance requirements compared to steel rebar.
Furthermore, advances in manufacturing technologies have made GFRP rebar more cost-effective and improved its performance characteristics. Innovations in production processes and material formulations continue to drive the adoption of GFRP rebar in various construction applications. Also, government regulations and incentives are pivotal in driving the glass fiber reinforced polymer (GFRP) rebar market in the U.S. These policies create a favorable environment for the adoption of advanced construction materials by providing financial support, setting standards, and promoting sustainable practices.
Competitive Analysis
Key players in the U.S. glass fiber reinforced polymer rebar Dextra Group, Kodiak Fiberglass Rebar, Mateenbar Limited, New York Council of Nonprofits, Inc., Owens Corning, Rochling SE & Co. KG, SFTec Inc., Sireg USA, American Fiberglass Rebar, and GatorBar. These players have adopted business expansion, partnership, and product launch as their key strategies to increase their market shares. For instance, in June 2022, Owens Corning and Pultron Composites formed a joint venture to produce fiberglass rebar. This development solidifies the companies' commitment to provide more sustainable product solutions and higher performance concrete reinforcement product types.
Key Market Trends
As per U.S. glass fiber reinforced polymer rebar market analysis, by resin type, the Vinyl ester segment was the highest revenue contributor, growing with a CAGR of 11.0%.
Based on application, the Public Construction segment was the highest revenue contributor in 2023.
Region wise, Rest of U.S. was the highest revenue contributor, growing with a CAGR of 10.9%.
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the U.S. glass fiber reinforced polymer rebar market analysis from 2023 to 2033 to identify the prevailing U.S. glass fiber reinforced polymer rebar market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the U.S. glass fiber reinforced polymer rebar market segmentation assists to determine the prevailing market opportunities.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the U.S. glass fiber reinforced polymer rebar market trends, key players, market segments, application areas, and market growth strategies.
Market size and forecast, by region