Maximize Market Research, a leading Material & Chemical business consultancy and research firm has published a report on the “Composite Rebar Market”. The total market opportunity for Composite Rebar Market was USD 678.78 Mn in 2023 and is expected to grow at a CAGR of 9.8 percent in the forecast period, reaching USD 1306.01 Mn by 2030. As per the report, the global Composite Rebar Market is expected to be dominated by the North America and Asia-Pacific regions to grow at a significant growth rate through the forecast period.
Composite Rebar Market Report Scope and Research Methodology
Market Size in 2023: USD 678.78 Million
Market Size in 2030: USD 1306.01 Million
CAGR: 9.8 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 227
No. of Tables: 128
No. of Charts and Figures: 180
Segment Covered: By Type, Application, and End User.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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Composite Rebar Market Scope and Research Methodology
The report discusses strategies that integrate SWOT and descriptive analysis to provide relevant information of the market. The report present an overall review of the Composite Rebar Market. Combination of qualitative and quantitative research is used to find business trends by collecting and organizing data. The report evaluates the future trends of the market by closely monitoring the situation of direct buyers, R&D plans, new innovations, trends in the business world, business consolidation and acquisitions. The report includes methods, organizational data, charts, and critical analysis from business leaders. SWOT and PESTLE analysis is carried out to analyse the microeconomic changes in the market.
Composite Rebar Market Overview
The more resilient and long-lasting reinforcement material is composite rebar as it is resistant to environmental factors like chemicals, salt, and water. The market’s growth has been significant because of the multiple advantages of composite rebar over the conventional steel rebar. The increasing focus on sustainability in construction has resulted in a surge in demand for the industry. Composite rebar’s service life and low environmental effect are in line with the building industry popularity for sustainability. The business adherence to regulation and standards and its constant stream of product that improves its abilities has increased its popularity. Architects, engineers, and people have pursued more knowledge about the benefits of using this product, resulting in its systematic addition into projects.
Composite Rebar Market Dynamics
Composite rebar is a suitable alternative for many underground construction projects because of its durability and ability to resist corrosion. The use of high-quality materials is necessary when constructing underground tunnels to prevent accidents and crashes. The tunnel’s ability to hold a heavy load on top of it raises the need for the composite rebar. Car makers use a significant amount of carbon fibre reinforced polymer (CFRP) rebar because of its strong and long-lasting qualities. Automotive parts are coated with it to increase their durability against impact and abrasion.The increasing demand for safety measures is expected to prompt the auto industry to adopt composite rebars more quickly. All these factors are propelling the growth of the overall market.
Composite Rebar Market Regional Insights
In 2023, with highest revenue share, the North America region is expected to continue its dominance in the Composite Rebar market throughout the forecast period. Moreover, in the forecast period, the conspicuous rise of construction sector in countries such as United States, Canada, Mexico or any else will keep demand for composite rebar high in North America continent. es, the construction industry is among the biggest industries globally.
Composite Rebar Market Segmentation
By Type:
By Type, the Composite Rebar Market is divided into Glass Fiber-Reinforced Polymer (GFRP) Rebar, Carbon Fiber-Reinforced Polymer (CFRP) Rebar, Basalt Fiber-Reinforced Polymer (BFRP) Rebar, and Hybrid Rebar. Glass Fiber Reinforced Polymer Rebar dominated the segment in 2023 and expected to continue its dominance in the forecasted period. This is because of GFRP rebars have a better corrosion resistance against normal steel ones making them ideal for reinforcing concrete structures, especially ones located in harsh environments. Because of the fact that it is able to prolong construction’s duration by increasingly reducing the costs incurred therein, for instance those related to maintenance, GFRP offers an economically viable alternative based on time value of money, which is propelling growth of the segment.
By Application:
By End User:
Composite Rebar Market Key Competitors include:
North America
Europe
Asia Pacific
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Key questions answered in the Composite Rebar Market are:
Key Offerings:
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Polycarbonate Composites Market-The market size is expected to reach USD 3.10 Bn by 2030 at a CAGR of 4.2 percent during the forecast period. It is expected to be driven by rising demand for polycarbonate sheets in various industries.
Rust Remove Market–The market size is expected to reach USD 747.21 Bn by 2030 at a CAGR of 4.76 percent during the forecast period. It is expected to be driven continuous growth in many end-use industries.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical Components and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, Production and demand analysis, and client impact studies.
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