FRP Rebar Market for Insulation Market anticipated to grow 1.5x by the end forecast period with a CAGR of over 18.5% during the forecast period (2022 to 2030).
Fiber reinforced polymer rebars consist of a mixture of reinforcement fibers and a polymer resin matrix. Glass, as a component, serves to promote tensile strength while the surrounding fibers provide greater durability, resistance to buckling, and corrosion. These gains are expected to boost the application of fiber-reinforced polymer rebars in power isolation and water treatment plants, thereby fueling the global fiber-reinforced polymer (FRP) rebars market growth.
FRP rebars are very expensive to produce and installation is also expensive as compared to steel rebars. Due to all these factors and with limited budgets for construction projects, have slow down the growth of the FRP rebar market. The market prefer steel rebar more as it have low cost. In recent years, construction bodies and organisations have made FRP rebar codes and specifications much clearer, boosting the market for FRP rebars. The market for FRP rebar is still in its early stages of adoption and acceptance.
In July 2020, Pultron Composites have signed Geosynthetic Partners Ltd. For the New Zealand and Pacific Islands distributor of Mateenbar, and expanding their presence further in the APAC region.
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