PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326612
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326612
Global Composite Rebar Market is valued at approximately USD 550.2 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 8.9% over the forecast period 2023-2030. The composite rebar involves the production and distribution of reinforcing bars made from composite materials, offering advantages like strength, corrosion resistance, and lightweight. It is an alternative to traditional steel reinforcement, offering several advantages in various applications. The Composite Rebar market is expanding because of factors such as increasing number of highways and rising numbers of infrastructure projects. Moreover, rising numbers of infrastructure projects have a significant impact on the Composite Rebar Market, increasing demand for durable and corrosion-resistant reinforcement solutions.
According to Statista in 2022, India had the highest number of infrastructure projects valued at over USD 25 million, with 1,944 projects in development or execution. In comparison, the United States had 1,866 projects, and China had 1,175 projects. The increasing adoption of composite rebar in construction projects has a significant impact on the growth and demand of the Composite Rebar Market, driven by the need for durable and sustainable reinforcement solutions. According to Statista in 2023, the global construction industry is anticipated to reach a value of USD 14.4 trillion in 2030, showing significant growth from its 2020 value of USD 6.4 trillion. In addition, increasing demand of marine structures and rising technological advancements in composite rebar would create a lucrative growth opportunity. However, the high cost of composite rebar and lack of awareness stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Composite Rebar Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the market during the forecast period owing to the factors such as increasing Construction Activities and rapid infrastructure development, leading to an increasing demand for high-quality Composite Rebar components in the region. Asia Pacific is the fastest growing region during the forecast period, owing to factors such as growing infrastructure development, including bridges, buildings, highways, water distribution systems, and other facilities
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable