GLASS FIBER REINFORCED CONCRETE MARKET: Summary
The Global Glass Fiber Reinforced Concrete Market is projected to reach a value of over USD 4.80 billion by 2027 at a CAGR of over 10.0%.
Glass Fiber Reinforced Concrete (GFRC) alternatively termed as composite ciment verre is a reinforced concrete produced from the Portland cement along with the aggregate slurry with short glass fibers reinforced in it. GFRC is a composite material encompasses of glass fiber ranging around 3-5% by weight, which differs for each application areas. It is widely used in construction activities owing to its excellent properties such as higher tensile strength, durability, crack resistance, with high compressive, flexural strength. GFRC is extensively used in the construction of dams, bridges, roads and pavements, agricultural construction, residential and commercial infrastructure and architectural buildings.
GLASS FIBER REINFORCED CONCRETE MARKET: Drivers & CHALLENGES
- Growing Construction Activities Globally
The construction activities across the globe is increasing at a rapid rate from past few years. Growing global population, increasing trend of adopting nuclear families, hike in migration from rural towards urban region, rise in per capita income with increasing shift towards better lifestyle are some of the socio-economic factors driving the construction sector globally. As per PwC, the global construction sector is expected to grow by 85%, reaching USD 15.5 trillion by end of 2030. Ongoing construction initiatives by the emerging countries such as China through the Road and Belt Initiative for construction of road and waterway to connect entire world, is further contributing the growth of construction sector. Thus, growing construction sector is expected to drive the GFRC market.
- Advantages Associated with GRFC over Conventional Concrete
GFRC is gaining higher attention from the construction sector for building sustainable infrastructure. It is used for interior and exterior facades of the building, road and pavement construction, bridges and various commercial and residential construction application, thus increasing into overall demand for GFRC. Glass fiber reinforced, when used in concrete offers certain properties, which favors usage of GRFC. Superior properties such as excellent durability, higher compressive, flexural and tensile strength, crack resistance, with higher possess excellent ability to construct lightweight panels and infrastructure. Due to aforementioned superior properties, the demand for GRFC is expected to grow in the forecast period.
The growth of the GFRC market is expected to impede owing to its high cost when compared with conventional concrete. The cost of the GFRC is mainly piled up due to reinforcement of fiberglass within concrete along with the additives. It also requires reinforcement of acrylic copolymer, which are expensive, and thus escalates the overall cost of GFRC.
GLASS FIBER REINFORCED CONCRETE MARKET: Key segments
- On the basis of Production Method: Premix GRC, Sprayed GRC and Others
- On the basis of Application: Residential Infrastructure, Commercial Infrastructure and Public Infrastructure
- On the basis of Geography: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
GLASS FIBER REINFORCED CONCRETE MARKET: Report SCOPE
The report on the glass fiber reinforced concrete market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million) Volume (Kiloton)
Production Method and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- UltraTech Cement Ltd. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Lindner Group
- Willis Construction Co. Inc.
- Formglas Products Ltd.
- Clark Pacific
- Low & Bonar
- BB fiberbeton
- Other Key Companies
GLASS FIBER REINFORCED CONCRETE MARKET: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Glass Fiber Reinforced Concrete Market, by Production Method
- Premix GRC
- Sprayed GRC
Glass Fiber Reinforced Concrete Market, by Application
- Residential Infrastructure
- Commercial Infrastructure
- Public Infrastructure
Glass Fiber Reinforced Concrete Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Glass Fiber Reinforced Concrete Market Providers
- Glass Fiber Reinforced Concrete Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Glass Fiber Reinforced Concrete Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE GLASS FIBER REINFORCED CONCRETE MARKET STUDY