Global Glass Fiber Reinforced Concrete Market
Global Glass Fiber Reinforced Concrete Market was evaluatedat US$ 3.35 Bn in 2019 and is expected to reach 6.21 Bn by 2027, at a CAGR of 11.8% during a forecast period.
Global Glass Fiber Reinforced Concrete Market
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Global Glass Fiber Reinforced Concrete Market Definition:
Glass FiberReinforced Concrete (GFRC) is composed of glass fibers, sand, cement, and water to provide high tensile strength, durability, fire resistance, electrical neutrality, chemical resistance, and thermal resistance. It reduces the maintenance and transportation cost of the product owing to the lightweight and long-lasting property of the product.
Market Drivers and Restraints:The global glass fiber reinforced concrete market is driven by the rise in demand for corrosion-resistant materials, the use of recycled material for production, and reduced construction time and cost. An increased prominence on green buildings and rising demand for glass fiber in various commercial, residential, and civil constructions will impel market growth in the forecast period.
However, an economic downturn in major regions, instability in raw material price, and availability of substitute materials in the market may restrain the market growth at the global level. Growing number construction projects in developing countries like China and India are projected to create beneficial growth opportunities for key players in the market. Lack of awareness related to precast concrete methods between end-users and the high production along with labour cost are the major challenges for the global glass fiber reinforced concrete market in the near future.
Glass Fiber Reinforced Concrete Market Segment analysis:
By application, the commercial segment has led the global glass fiber reinforced concrete market in 2019 and is expected to generate more than US$ xx Mn market revenue by 2027, with a CAGR of xx%. Commercial construction uses a huge amount of GFRC materials in various forms like the exterior, claddings, wall panels, columns, and capitals to increase the lifespan of these structures. It also supports to manage cracks and reduce the permeability of the construction. GFRC offers several benefits such as moisture absorption, design flexibility, fire resistance, weather resistance, crack-resistant, ease of handling, and durability are increasing the demand for GFRC as well as contribute to the construction industry growth.
Glass Fiber Reinforced Concrete Market Regional Analysis:
By region, the glass fiber reinforced concrete market has segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a prominent market share of xx% in 2019 and is expected to reach US$ xx Mn by the end of 2027, with a CAGR of xx%. Developed regions like the U.S. and Canada are the leading contributors to the regional market growth. Among these, the U.S. is projected o holds the largest market share of xx% in forecast period owing to the increasing remodelling and renovation activities in the residential construction sector.
In terms of value and volume, the Asia Pacific is expected to grow at a CAGR of xx% during the forecast period thanks to rising infrastructure spending and rising per capita income in emerging economies such as India, China, and Malaysia. The rising investments in research and development activities for the introduction of advanced glass fiber reinforced concrete materials are predicted to accelerate the growth of this region in the near future.
The objective of the report is to present a comprehensive analysis of theGlobalGlass Fiber Reinforced Concrete Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Glass Fiber Reinforced Concrete Market dynamics, structure by analysing the market segments and project the Global Glass Fiber Reinforced Concrete Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Glass Fiber Reinforced Concrete Market make the report investor’s guide.
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Global Glass Fiber Reinforced Concrete market, By Process
Global Glass Fiber Reinforced Concrete market, By Application
• Civil Construction
Global Glass Fiber Reinforced Concrete Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Glass Fiber Reinforced Concrete Market,
• GB Architectural Cladding Products Ltd
• Fibrex Construction Group BCM GRC Ltd
• Glass Reinforced Concrete UK Ltd
• Surecrete Design Products
• Betofiber A.S
• CHENG Concrete
• Formglas Products Ltd
• Frey-Fil Corporation
• Loveld Nv
• Pennine Stone Ltd
• Telling Ltd
• Low & Bonar
• BarChip Pty Ltd
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