Glass Fiber Reinforced Concrete (GFRC) Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Glass Fiber Reinforced Concrete (GFRC) Market Analysis
The glass fiber reinforced concrete (GFRC) market is projected to register a CAGR of over 9% during the forecast period (2022 - 2027).
The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in various industries, including a major impact on the construction industry, which may affect the glass fiber reinforced concrete market. Work interruptions due to lockdown measures imposed by governmental authorities negatively affected the commercial, residential, infrastructural, and institutional sectors, decreasing the demand for glass fiber reinforced concrete. Such lower demand from the commercial and residential construction sectors is expected to hinder the demand for GFRC during the short term.
Over the short term, the increased emphasis on green buildings (LEED ratings), superior mechanical characteristics of GFRC (high strength-to-weight ratio), and the use of recycled material for the production of GFRC are expected to drive the market's growth.
Premium pricing of GFRC, lack of ductility, and the lack of availability of skilled labor are expected to hinder the growth of the market.
Emphasis on using fire-retardant building materials and the growing popularity of GFRC structural insulated panels are likely to act as opportunities for the market during the forecast period (2022 - 2027).
Glass Fiber Reinforced Concrete (GFRC) Market Trends
This section covers the major market trends shaping the Glass GFRC Market according to our research experts:
The Architecture Segment is Expected to Dominate the Market
GFRC panels are ideally suited for recladding the exterior facades of existing buildings due to their high strength, lightweight, and ability to reproduce the look of a wide variety of cladding materials.
Floor slabs in buildings, either load-bearing or framed, can also be constructed using GFRC panels.
For roofing hardware, like finishes, ridges, and chimneys, GFRC can be molded into complicated forms. With a strong impact force, it is non-combustible and can be used on all forms of the roof.
In residential and commercial buildings, molded GFRC components, such as window sills, window surrounds, cornices, door portals, and columns, will add decoration while still serving practical needs.
The growing construction industry is expected to drive the demand for GFRC through the forecast period. For instance, the global construction industry was valued at about USD 12.9 trillion in 2021, with a growth rate of about 3.2%, compared to the previous year.
Therefore, the aforementioned factors are expected to have a significant impact on the market in the coming years.
The North American Region is Expected to Dominate the Market
The North American construction industry has been largely dominated by the United States and Canada.
The United States plans to invest USD 2 trillion in infrastructure, housing, building construction, and other projects, as this initiative provides many opportunities for the construction industry.
The COVID-19 pandemic severely impacted the country, but low mortgage rates, limited existing inventory, and government protection against forbearance and foreclosure are expected to offer support for market recovery. Several construction projects are underway to help resupply the economy, including projects in the residential, institutional, industrial, and infrastructure sectors.
Construction remains a pivotal industry in Canada, contributing 7.5% of Canada's gross domestic product. However, the sector is still hampered by the rising prices of raw materials, ongoing labor shortages, and schedule and price increases brought on by the widespread disruption to global supply chains.
Overall, North America is expected to dominate the market in the coming years.
Glass Fiber Reinforced Concrete (GFRC) Industry Overview
The glass fiber reinforced concrete (GFRC) market is fragmented in nature. Some of the key players include Low & Bonar, BarChip Pty Ltd, GRCUK, FİBROBETON, and Formglas Products Ltd, among others.
Glass Fiber Reinforced Concrete (GFRC) Market Leaders
Low & Bonar
BarChip Pty Ltd
GRCUK
FİBROBETON
Formglas Products Ltd
*Disclaimer: Major Players sorted in no particular order
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Glass Fiber Reinforced Concrete (GFRC) Market News
There are no recent developments pertaining to the market.
Glass Fiber Reinforced Concrete (GFRC) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increased Emphasis on Green Buildings (LEED Ratings)
4.1.2 Superior Mechanical Characteristics (High Strength-to-Weight Ratio)
4.1.3 Use of Recycled Material for Production
4.2 Restraints
4.2.1 Lack of Ductility
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Sprayed
5.1.2 Premix
5.1.3 Hybrids
5.2 Application
5.2.1 Architecture
5.2.1.1 Cladding and Moldings
5.2.1.2 Landscaping
5.2.1.3 Foundations and Floors
5.2.1.4 Roofing
5.2.1.5 Walls and Windows
5.2.2 Engineering
5.2.2.1 Permanent Formwork
5.2.2.2 Utilities and Water Management
5.2.2.3 Bridges and Tunnels
5.2.3 Defense
5.2.4 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ASAHI BUILDING-WALL Co. Ltd
6.4.2 BarChip Pty Ltd
6.4.3 Betofiber
6.4.4 Aditya Birla Management Corporation Pvt. Ltd (Birla White)
6.4.5 Buddy Rhodes Concrete Products
6.4.6 Chiltern GRC Ltd
6.4.7 Dalian Shantai New Industrial Co. Ltd
6.4.8 FIBREX
6.4.9 FIBROBETON
6.4.10 Fiberbeton - AS Magnus Holm
6.4.11 Fishstone Studio Inc.
6.4.12 Formglas Products Ltd
6.4.13 Frey-Fil Corporation
6.4.14 GB ARCHITECTURAL CLADDING PRODUCTS LTD
6.4.15 GRC|Fiberton
6.4.16 GRCUK
6.4.17 LOVELD
6.4.18 Low & Bonar
6.4.19 Pennine Stone Ltd
6.4.20 Pennine Building Solutions Ltd
6.4.21 Shanghai Zhuoou Building Decoration Engineering Co. Ltd
6.4.22 Sklocement Plus SRO
6.4.23 SureCrete Design Products
6.4.24 Telling Ltd
6.4.25 Yeung's Fiberglass Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emphasis on Using Fire-retardant Building Materials
7.2 Growing Popularity of GFRC Structural Insulated Panels
Glass Fiber Reinforced Concrete (GFRC) Industry Segmentation
The glass fiber reinforced concrete (GFRC) market is segmented by type, application, and geography. By type, the market is segmented into sprayed, premix, and hybrids. By application, the market is segmented into architecture, engineering, defense, and other applications. The report also covers the market sizes of and forecasts for the glass fiber reinforced concrete (GFRC) market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
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Glass Fiber Reinforced Concrete (GFRC) Market Research FAQs
What is the current Glass Fiber Reinforced Concrete (GFRC) Market size?
The Glass Fiber Reinforced Concrete (GFRC) Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Glass Fiber Reinforced Concrete (GFRC) Market?
Low & Bonar, BarChip Pty Ltd, GRCUK, FİBROBETON and Formglas Products Ltd are the major companies operating in the Glass Fiber Reinforced Concrete (GFRC) Market.
Which is the fastest growing region in Glass Fiber Reinforced Concrete (GFRC) Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Glass Fiber Reinforced Concrete (GFRC) Market?
In 2024, the North America accounts for the largest market share in Glass Fiber Reinforced Concrete (GFRC) Market.
What years does this Glass Fiber Reinforced Concrete (GFRC) Market cover?
The report covers the Glass Fiber Reinforced Concrete (GFRC) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Glass Fiber Reinforced Concrete (GFRC) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Glass Fiber Reinforced Concrete (GFRC) Industry Report
Statistics for the 2024 Glass Fiber Reinforced Concrete (GFRC) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Glass Fiber Reinforced Concrete (GFRC) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
