Glass Fiber Reinforced Gypsum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for Glass Fiber Reinforced Gypsum is expected to grow at a CAGR of over 3% during the forecast period. Major factors driving the market studied are increasing application in interior designing and growing demand due to less installation cost. Dearth of awareness among consumers are expected to hinder the growth of the market studied.

Key Highlights

• Application of Glass Fiber Reinforced Gypsum in residential sector dominated the market and is expected to grow during the forecast period owing to the increasing usage as ceilings, domes, custom shapes and other structures in constructing houses.
• Europe dominated the market across the globe with the largest consumption from the countries such as Germany, France, and Italy.

Key Market Trends

Increasing Demand from Residential Sector

• Glass Fiber Reinforced Gypsum (GFRG) is an interior alternative to GFRC (Glass Fiber Reinforced Concrete). GFRG is a reinforced gypsum product having high strength with lighter weight for interior projects. It is also used as medallions, intricate moldings and decorative pieces to dress up the ceilings and walls of buildings.
• The application of glass fiber reinforced gypsum has been increasing over the recent years. The molds are designed to create shapes and integrated supports that enhance the overall look and design of a room.
• As gypsum is a mineral, glass fiber reinforced gypsum doesn’t burn and in addition it acts like a thermal regulator when exposed to flame. It protects the materials behind it from the heat of the flame for up to two hours.
• More than 50,000 affordable homes will be built in Greater Manchester by 2038 under new plans to tackle the region's "housing crisis" creating a major scope for the application of these low-cost and highly efficient glass fiber reinforced gypsum as an interior alternative.
• Residential sector dominated the use of glass fiber reinforced gypsum. United States leads in the usage of glass fiber reinforced gypsum followed by Germany, China, India and France.

Europe Region to Dominate the Market

• Europe region is expected to dominate the market for glass fiber reinforced gypsum during the forecast period. With growing demand from countries such as United Kingdom, Germany, Italy, and France, the utilization of glass fiber reinforced gypsum is increasing in the region.
• The largest producers of glass fiber reinforced gypsum are located in Europe. Some of the leading companies in the production glass fiber reinforced gypsum of are Knauf Danoline A/S, Gillespie, Saint-Gobain Formula GmbH, AWI Licensing LLC, CHIYODA UTE CO.LTD.
• Because of the best application of glass fiber reinforced gypsum that its use reduces the construction and maintenance cost, resistance to high impacts, the demand for glass fiber reinforced gypsum has been increasing.
• According to government of United Kingdom, about 1.5 million new houses are planned to be constructed by 2022, increasing the demand for light weight material like GRFG.
• The aforementioned factors, coupled with government support, are contributing to the increasing demand for glass fiber reinforced gypsum during the forecast period.

Competitive Landscape

The glass fiber reinforced gypsum market is fragmented with players accounting for a marginal share of the market. The major companies include Knauf Danoline A/S, Gillespie, Saint-Gobain Formula GmbH, AWI Licensing LLC, and CHIYODA UTE CO.LTD.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support