Consistent growth in Global Glass Fiber Reinforced Concrete (GFRC) due to the surge in the building & construction sector, urbanization &rising demand for ‘green building’ are expected to drive the growth of the Glass Fiber Reinforced Concrete (GFRC) industry during the forecast period.

The Glass Fiber Reinforced Concrete (GFRC) Market is expected to grow at a CAGR of 3.6% from 2020-2030, according to a new research report by Next Move Strategy Consulting.

Glass fiber reinforced concrete (GFRC) comprises cement or concrete mixed with glass fibers. GFRC is an amalgamation of glass fibers, polymer emulsions, cement, and a few other components. GFRC has few distinct properties such as high compressive strength as well as tensile strength which make it a primary choice in the building & construction sector. Lightweight high flexural strength and a very high strength-to-weight ratio are a few of its definitive characteristics.

According to the report, there has been constant growth in the glass fiber reinforced concrete (GFRC) market owing to its vivid applications in the building & construction sector. The booming demand for ‘Green Buildings’ rated by Leadership in Energy and Environmental Design (LEED) is the prime factor propelling the market growth. Additionally, the rise in demand for safe and moisture-resistant buildings has been propelled due climatic changes led by various environmental issues and global warming. Urbanization and the development of the global economy are a few other factors driving market growth.

However, the low ductility of GFRC as compared to steel-reinforced concrete (SRC) is a major factor hampering the market growth. Consequently, robust technological advancements are anticipated to curtail the prices and boost the Global Glass Fiber Reinforced Concrete (GFRC) Market growth.

Based on process, the global glass fiber reinforced concrete (GFRC) market is segmented into spray, premix, and hybrid. Spray segment dominates the Global Glass Fiber Reinforced Concrete (GFRC) market and will be dominant during the forecast period.

Based on application, the Global Glass Fiber Reinforced Concrete (GFRC) market is segmented into commercial construction, residential construction, and civil & other Infrastructure construction. The commercial construction segment dominates the market growth in terms of market share and is expected to maintain its dominance over the forecast period.

North America holds the highest market size & share in the Glass Fiber Reinforced Concrete (GFRC) Market during the forecast period, owing to the constant rise of its construction industry and growing focus towards sustainable development. Europe holds the second leading position in the Global Glass Fiber Reinforced Concrete (GFRC) market in terms of size mainly due to environmental concerns. Asia Pacific and Latin American markets are flourishing because of rising disposable income. The emerging economies, especially the Asia-Pacific region shall witness an increasing size of the Glass Fiber Reinforced Concrete (GFRC) Market because of the technological advancements that are estimated to affirmatively affect the cost factor.

According to the report, some of the key players in the global Glass Fiber Reinforced Concrete (GFRC) market are Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co., Inc., Clark Pacific, Loveld, Propex Operating Company LLC, HUESKER, Low & Bonar, BarChip Pty Ltd, GRCUK.

Browse key industry insights from the report in detail along with the table of contents: Glass Fiber Reinforced Concrete (GFRC) Market by Process (Spray, Premix, Hybrid), by Application (Commercial, Residential, Civil and Other Infrastructure Construction) - Global Opportunity Analysis and Industry Forecast, 2020-2030

Key Insights from the ASEAN Air Compressor Market Report:

• North America is the fastest-growing region in the Global Glass Fiber Reinforced Concrete (GFRC) market owing to accelerated financing to construct climate-resilient infrastructure.
• The spray segment dominates the market growth in terms of industry verticals and is expected to grow at a significant CAGR to maintain the lead till 2030.
• Some of the major players in the market are Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co., Inc., Clark Pacific, Loveld, Propex Operating Company LLC, HUESKER, Low & Bonar, BarChip Pty Ltd, and GRCUK.
• The report Global Glass Fiber Reinforced Concrete (GFRC) market– Segmented by process, application, and geography.

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