Global Glass Fiber Reinforced Concrete Market Overview:
Glass fiber reinforced concrete consist of Portland cement, fine aggregate, water, acrylic, copolymer, glass fiber reinforcement and additives. The benefits of GFRC are highly durable and safe, can mold into almost any shape and color, very low maintenance, weather and fire resistant, economical and energy resistant. It is primarily used as an exterior façade or cladding material for new construction and for recladding or restoration of existing building facades. It is commonly used for purely decorative applications like window trims, decorative columns, exterior friezes or limestone-like wall panels.
As per latest study released by AMA Research, the Global Glass Fiber Reinforced Concrete market is expected to see growth rate of 10.9%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Growth Drivers:
Quick and Cost Effective Installation, Increasing Demand in Building and Construction Projects and Increasing Penetration in End-Use Industry
Challenges:
High Production and Labor Cost
Restraints:
Economic Downturn in Major Regions
Opportunities:
Rising Construction Industry in the Developing Countries
Competitive Landscape:
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Some of the key players profiled in the report are BCM GRC Ltd. (United States), Domcrete (Australia), Ultratech Cement Ltd. (India), Formglas Products Ltd. (Canada), Willis Construction Co., Inc. (United States), Clark Pacific (United States), Loveld NV (Belgium), Fibrex Construction Group (United Arab Emirates), Betofiber Yapi Elemanlari (Turkey) and STABIL Concrete Products (United States). Additionally, following companies can also be profiled that are part of our coverage like Stromberg Architectural (United States), BB Fiberbeton (Denmark), Cheng Concrete (United States) and Nanjing Beilida New Material System Engineering Co., Ltd. (China). Analyst at AMA Research see United States Vendors to retain maximum share of Global Glass Fiber Reinforced Concrete market by 2030. Considering Market by Process, the sub-segment i.e. Spray will boost the Glass Fiber Reinforced Concrete market.
Latest Market Insights:
In August 2023, CHRYSO, Inc., a global leader in construction chemicals, announced a partnership with LafargeHolcim to develop and promote innovative GFRC solutions for precast applications. This collaboration aims to leverage both companies' expertise to offer high-performance and sustainable precast products.
In October 2023, Tremix Commercial Products launched "VersaGlass® Ultra Lite," a lightweight GFRC panel specifically designed for interior architectural applications. This product boasts high strength-to-weight ratio, fire resistance, and ease of installation.
What Can be Explored with the Glass Fiber Reinforced Concrete Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Glass Fiber Reinforced Concrete Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Glass Fiber Reinforced Concrete
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Glass Fiber Reinforced Concrete market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Glass Fiber Reinforced Concrete market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Glass Fiber Reinforced Concrete Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.