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
Industry: Materials and Chemical | Publish Date: 05-Dec-2024 | No of Pages: 200 | No. of Tables: 168 | No. of Figures: 123 | Format: PDF | Report Code : MC51
Market Definition:
The global Glass Fiber Reinforced Concrete (GFRC) Market size is estimated to be USD 153.03 million in 2019 and is predicted to reach USD 226.04 million by 2030 with a CAGR of 3.6% from 2020-2030.
The global GFRC market held a volumetric turn-over of 45.55 kilotons in 2019 that is expected to level-up to 72.93 kilotons by 2030, witnessing a CAGR of 4.4% from 2020-2030.
Glass fiber reinforced concrete (GFRC) is a specialized type of concrete mixed with glass fibers. GFRC constitutes of AR glass fibers, acrylic polymer emulsions, cement, sand, pozzolan (VCOS), admixtures and color-dry. Glass fiber reinforced concrete is mostly used for construction, cladding and re-cladding of architectural buildings.
The unique properties of GFRC such as its high compressive and tensile strength make it a primary choice. Also, its flexural strength can be as high as 4000 psi. It is light weight as compared to regular concrete and has a very high strength-to-weight ratio. Panels constructed from GFRC are much thinner than concrete panels, making them lighter. Its internal reinforcement, easy consolidation and smooth surface finish are a bonus to its many advantages.
Market Dynamics and Trends:
GFRC was first created in the 1940s in Russia, but it wasn’t until the 1970’s that the current form came into widespread use for building façades. Since then, the application of GFRC in construction projects has been increasing and driving the market growth. The rise in awareness for green buildings rated by LEED (Leadership in Energy and Environmental Design) is a major factor driving the Glass fiber reinforced concrete market growth.
Other factors such as acceleration of urbanization and growth of emerging economies further boost the market growth. However, low ductility and high cost due to ongoing R&D might restrain the market growth. Moreover, the intensification of technological advancements is estimated to curtail the prices of GFRC and hence accelerate its adoption in future.
Market Segmentations and Scope of the Study:
The global glass fiber reinforced concrete market share has been analyzed based on process, application and geography. Based on process, the market is segmented into spray, premix and hybrid. Based on application, the market is segmented into commercial construction, residential construction and civil & other Infrastructure construction. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America represents higher adoption of GFRC because of the constant rise of its construction industry and hence is estimated to have the highest market share in the global glass fiber reinforced concrete (GFRC) industry during the forecasted period. Furthermore, the European region is estimated to expand mainly due to environmental concerns. Asia Pacific and Latin American markets are bound to flourish because of rising disposable income.
The emerging economies, especially Asia-Pacific region shall witness an increasing size of the glass fiber reinforced concrete (GFRC) market because of the technological advancements which are estimated to affirmatively affect the cost factor.
Competitive Landscape:
The global glass fiber reinforced concrete (GFRC) industry is highly competitive and consists of numerous market players. Some of the major market players are Willis Construction Co., Inc., Fibrex Construction Group, Formglas Products Ltd., Clark Pacific, Ultratech Cement Ltd., Bitofiber A.S, BB Fiberbeton, Loveld, Low and Bonar, Stromberg Architectural.
There have been various developments taking place in the market that further enhance the growth of glass fiber reinforced concrete (GFRC) market on a large scale.. For instance, Green Badger which is a carbon neutral company with a premier cloud based LEED certification software solution claims majority of the population in year 2020 is seeking to have buildings (both new and existing) go beyond reducing energy/climate impact to actually being regenerative, and being positive for both occupants and their communities. Such implementations are estimated to propel the future market growth.
Furthermore, In May 2020, the global technology group, Freudenberg acquired 100 percent of the shares in Low & Bonar PLC (a global leader in high-performance), London, United Kingdom. Such acquisitions ensure that the International standards won’t be merely satisfied but exceeded and therefore will immensely enhance the market growth.
KEY BENEFITS:
-
The glass fiber reinforced concrete market report provides quantitative market analysis and estimations through 2020-2030 that assists to determine the predominant market opportunities to exploit.
-
The study comprises a deep drive analysis of the global market trends including current and upcoming trends for interpreting the prevalent investment pockets in the market.
-
The report gives intricate information related to key drivers, restraints, opportunities and their impact on the global market. The report consolidates a competitive analysis of the market players along with their market share in the global market.
-
The study elaborates SWOT analysis and Porters Five Force model for the global market.
-
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles in the global market.
Glass Fiber Reinforced Concrete Market Key Segments:
By Process
-
Spray
-
Premix
-
Hybrid
By Application
-
Commercial Construction
-
Residential Construction
-
Civil & Other Infrastructure Construction
By Region
-
North America
-
U.S.
-
Canada
-
Mexico
-
-
Europe
-
UK
-
Italy
-
Germany
-
Spain
-
Netherlands
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Taiwan
-
Vietnam
-
Rest of Asia Pacific
-
-
RoW
-
Latin America
-
Middle East
-
Africa
-
Key Players
-
Willis Construction Co., Inc.
-
Fibrex Construction Group
-
Formglas Products Ltd.
-
Clark Pacific
-
Ultratech Cement Ltd.
-
Bitofiber A.S
-
BB Fiberbeton
-
Loveld
-
Low and Bonar
-
Stromberg Architectural
Report Scope and Segmentation:
|
Parameters |
Details |
|
Analysis Period |
2019–2030 |
|
Base Year Considered |
2020 |
|
Forecast Period |
2020–2030 |
|
Market Size Estimation |
Million (USD) |
|
Market Segmentation |
by Process (Spray, Premix, Hybrid), by Application (Commercial, Residential, Civil and Other Infrastructure Construction) |
|
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Italy, Germany, Spain, Netherlands, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, South Korea, Taiwan, Vietnam, Rest of Asia Pacific) RoW (Latin America, Middle East, Africa) |
|
Companies Profiled |
Willis Construction Co., Inc., Fibrex Construction Group, Formglas Products Ltd., Clark Pacific, Ultratech Cement Ltd., Bitofiber A.S, BB Fiberbeton, Loveld, Low and Bonar, Stromberg Architectural |
At Next Move Strategy Consulting, we understand that insightful market research is the cornerstone of successful business decisions. That's why we employ a robust and multifaceted approach, combining various methodologies to deliver the most accurate and actionable data for our clients.
Research Landscape
We navigate the world of research with two primary approaches:
Qualitative Approach
Our qualitative research methodologies involve immersive techniques such as in-depth interviews, focus groups, and observational studies. By engaging directly with individuals and stakeholders, we uncover valuable insights that quantitative data alone may overlook.
Quantitative Research
In tandem with qualitative methodologies, NMSC leverages the power of Quantitative Research to provide a robust foundation of numerical insights. Through systematic data collection and analysis, we quantify patterns, preferences, and market trends, offering a comprehensive view of the business landscape.
Our quantitative research approach employs diverse tools, including surveys, experiments, and statistical modelling. These methodologies enable us to gather data from a large and representative sample, ensuring the statistical significance of our findings. By employing structured questionnaires and standardized data collection methods, we guarantee the reliability and validity of the information we present to our clients.
Quantitative research is particularly effective in measuring the prevalence of trends, assessing market size, and gauging the impact of various factors on consumer behavior. The numerical precision attained through this approach equips our clients with actionable insights, facilitating data-driven decision-making and strategy formulation.
Our Specialized Toolbox for Industry-Specific Market Research
We deploy a specialized arsenal of techniques tailored to meet your unique requirements. Here's a glimpse into our comprehensive toolbox:
Information Procurement
The stage entails acquiring market data or relevant information through various sources and methodologies.
Market Research Approach
We utilize both top-down and bottom-up approaches in market research analysis to achieve a comprehensive understanding of the market dynamics, leveraging the broad perspective of industry trends and macroeconomic factors alongside detailed insights from specific segments and individual companies.
Porters Five Forces Analysis
We conduct Porter's Five Forces analysis to evaluate the competitive landscape of an industry, providing us with insights into factors that affect profitability and strategic positioning.
SWOT Analysis
We conduct SWOT analysis to understand market trends, identify potential threats, capitalize on opportunities, and assess our strengths and weaknesses.
Forecasting
We utilize a forecasting model to predict future consumption by considering parameters like population, economics, regulations, market competition, drivers, constraints, technology, and pricing. We also employ statistical techniques such as multilinear regression, exponential smoothing, moving average, ARIMA, and Monte Carlo simulations for accurate predictions. In econometric forecasting, we analyzed short-term and long-term event impacts, attributing values based on regulatory frameworks, economic factors, and market events.
Frequently Asked Questions
Download Free Sample
Speak to Our Analyst
Related Report
Related Blogs
Industry Giants Securing 70 percentage of the Cold Pipe Insulation Market – What Sets Them Apart
Next Move Strategy Consulting forecasts a notable upsurge in...
Norsk Hydro Asa, Leading the Aluminium Sector With Around 28 Percentage Share – Here is Why
The aluminium market is expected to see a remarkable gr...
Exploring Closed Cell Crosslinked Foams: Advancements in Aerospace Applications
Introduction: Closed cell crosslinked foams have emerged...
