Europe Fiber Reinforced Polymer (FRP) Rebars Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – By Resin Type (Vinyl Ester, Polyester, Epoxy, and Others), Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, and Basalt Fiber Composi

Europe Fiber Reinforced Polymer (FRP) Rebars Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – By Resin Type (Vinyl Ester, Polyester, Epoxy, and Others), Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, and Basalt Fiber Composites), and Application (Highway Bridge and Construction, Marine Structures and Waterfronts, Water Treatment Plants, and Others)   

The fiber reinforced polymer (FRP) rebars market in Europe is expected to grow from US$ 39.98 million in 2022 to US$ 71.16 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2022 to 2028.

Increasing Application of FRP Rebars in Construction

The construction industry is always searching for better alternatives to traditionally used materials like wood, steel, and aluminium. Fiber reinforced polymer (FRP) composite material is emerging as a viable alternative for various infrastructure and building projects. FRP rebars are resistant to a wide range of chemicals and are not affected by oxidation or corrosion. For instance, fiberglass rebar can withstand harsh weather conditions, continuous rain, and water submerged conditions. FRP's durability makes it a preferred choice for many outdoor construction projects as they are easy to cut, shape, and install. Moreover, their minimal maintenance requirements lower overall construction costs. Around the regional, many more advanced countries rely on green construction methods to save resources and provide buildings with long service life. Thus, fiber-reinforced polymer rebars are becoming increasingly popular in constructing infrastructure, large structures, and commercial buildings. Furthermore, rising global construction spending and acceptance of FRP rebars for reinforcement purposes are projected to drive its demand in the construction industry. FRP rebars bond easily with concrete irrespective of pH, moisture, and other external factors. Advanced thermal compatibility also offers zero stress while responding to temperature changes, which is expected to influence the FRP rebar market over the forecast period positively. Additional advantages of FRP rebars include excellent quality control with reduced transportation costs which is slated to favour its demand in the construction industry and is driving the market growth.

Market Overview

The Europe Fiber Reinforced Polymer (FRP) Rebars market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. The Fiber Reinforced Polymer (FRP) Rebars market has witnessed a high growth during the forecast period due to its applications such as highway bridge and construction, marine structures and waterfronts, and water treatment plants. The product has a high tensile strength and corrosion-resistant properties, which is driving the market forward. The European market has witnessed a growth in construction industry during the forecast period, which will increase demand for Fiber Reinforced Polymer (FRP) Rebars in the region. Fiber Reinforced Polymer (FRP) Rebars is a reinforcing rod made up of a combination of fiberglass roving and resin. It is a reinforcing material to be used in concrete to replace the steel rods in various applications. Fiber Reinforced Polymer (FRP) Rebars are considered stronger than steel bars and a lightweight material. The construction industry is a vital industry to the Europe economy. For instance, as per the FIEC statistical report of European Union, the construction industry has increased by 5.2% in 2021. The growing construction industry in the region and rising government spending for maintenance and construction is driving the Fiber Reinforced Polymer (FRP) Rebars market. Moreover, Fiber Reinforced Polymer (FRP) Rebars also play a crucial role in the water treatment plants. Europe has witnessed an improvement in all parts of its region in water treatment plants over the past few decades. The EU wastewater treatment directive states that around 90% of urban waste waters are collected and treated. The increasing demand in water treatment across the region is expected to drive the market forward.

Europe Fiber Reinforced Polymer (FRP) Rebars Market Revenue and Forecast to 2028 (US$ Million)

Europe Fiber Reinforced Polymer (FRP) Rebars Market Segmentation

The Europe fiber reinforced polymer (FRP) rebars market is segmented into by resin type, fiber type, application, and country.

Based on resin type, the market is segmented into vinyl ester, polyester, epoxy, and others. The vinyl ester segment registered the largest market share in 2022. Based on fiber type, the market is segmented into glass fiber composites, carbon fiber composites, and basalt fiber composites. The glass fiber composites segment registered the largest market share in 2022. Based on application, the market is segmented into highway bridge and construction, marine structures and waterfronts, water treatment plants and others. The highway bridge and construction segment held the largest market share in 2022. Based on country, the market is segmented into Germany, France, Italy, Spain, and the Rest of Europe. The Rest of Europe dominated the market share in 2022.

Owens Corning; Pultron Composites; FiRep Inc.; Schock Bauteile GmbH, and Dextra Group are the leading companies operating in the fiber reinforced polymer (FRP) rebars market in the region.

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