Glass Fiber Reinforced Concrete Market Global Demand, Trends and Sales Revenue 2021 to 2030
Author : Shweta bhirud | Published On : 01 May 2021
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.
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Top Companies: 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 and others.
The global Glass Fiber Reinforced Concrete (GFRC) 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.
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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) market 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 Glass Fiber Reinforced Concrete (GFRC) market because of the technological advancements which are estimated to affirmatively affect the cost factor.
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