Glass Fiber Reinforced Concrete Global Market Report 2024

Glass fiber reinforced concrete refers to a composite material or plastic that has been strengthened with fibers consisting of tiny glass fibers such as fine sand, cement, polymer, water, other admixtures, and alkali-resistant (AR) fibers and is used to make structural concrete products that are both strong and lightweight, such as building panels, exterior building façade panels, and architectural precast concrete.

The main types of glass fiber reinforced concrete (GFRC) are C30, C60, and C100. C30 GFRC is designed to withstand 30 Newton/28-day strength. C30 is a standard grade of concrete with secondary uses. It is recommended for the construction of load-bearing building structure members such as beams, foundations, columns as well as basements. The processes used for GFRC are spray, premix, and hybrid. GFRC is applied in commercial construction, residential construction, and civil and other infrastructure construction.

The glass fiber reinforced concrete market research report is one of a series of new reports that provides glass fiber reinforced concrete market statistics, including glass fiber reinforced concrete industry global market size, regional shares, competitors with a glass fiber reinforced concrete market share, detailed glass fiber reinforced concrete market segments, market trends and opportunities, and any further data you may need to thrive in the glass fiber reinforced concrete industry. This glass fiber reinforced concrete market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The glass fiber reinforced concrete market size has grown rapidly in recent years. It will grow from $3.51 billion in 2023 to $3.97 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to renovation and restoration projects, increased demand from the construction industry, rising demand from the residential sector, growing demand from the commercial sector, increased urbanization .

The glass fiber reinforced concrete market size is expected to see rapid growth in the next few years. It will grow to $6.65 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to increasing preference for sustainable construction, growth in commercial construction, infrastructure investments, development of ultra-high-performance gfrc, growing demand for lightweight and durable construction materials. Major trends in the forecast period include 3d printing technology, customization and personalization, thin and lightweight panels, advancements in manufacturing techniques, integration of fiber optics and lighting.

Increasing emphasis on green buildings is significantly driving the growth of the glass fiber-reinforced concrete market. Green building refers to the design, construction, and operation of structures that prioritize energy efficiency, resource conservation, sustainability, and environmental responsibility. Green buildings use glass fiber-reinforced concrete as a predominant option for sustainable construction. For example, according to the World Green Building Council, a US-based non-profit organization and global network of national Green Building Councils, by 2030, all new construction will have at least 40% less embodied carbon than existing structures, along with considerable upfront carbon reductions, and all new structures will have net zero operating carbon. Thus, significant emphasis on green buildings will invariably create huge demand for green fiber reinforced concrete and is expected to propel the growth of the glass fiber reinforced concrete market going forward.

The growing construction industry is expected to boost the growth of the glass fiber reinforced concrete market going forward. The construction industry refers to the commercial manufacturing and trade sector that deals with developing, preserving, and repairing infrastructures. As the construction industry grows, architects and designers are increasingly inclined to utilize GFRC for its architectural versatility in creating innovative and unique designs, including facades, cladding, and decorative elements. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the annual construction sector rose by a record 12.7% in 2021 compared to the previous year. In December 2021, the volume of monthly construction output climbed by 2.0%; this was entirely due to a rise in new work (3.5%). In addition to the monthly rise, the construction industry's quarterly production climbed by 1.0% in Q4 2021 compared to Q3. This increase was driven by both new work (1.1%) and repair and maintenance (0.8%). Therefore, the growing construction industry is driving the glass fiber reinforced concrete market.

3D printing is a key trend gaining popularity in the glass fiber reinforced concrete market. Major companies operating in the glass fiber reinforced concrete sector are focused on developing and using 3D printing solutions to strengthen their position. For instance, in May 2021, Branch Technology, a key construction tech company, created a category-defining project using 3D printing Glass Fiber Reinforced Concrete (GFRC) with Tennessee Valley Federal Credit Union's newest office building. This is the world's first 3D-printed GFRC facade. It also establishes several other categories, including the first commercial building with a 3D printed building envelope in the United States and the first freeform 3D printed composite project.

Major companies operating in the glass fiber reinforced concrete market are adopting strategic partnerships approach to provide glass fiber reinforced concrete (GFRC) parts to individuals, businesses, and governments. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in April 2023, Smart Engineering, a Spain-based engineering company, partnered with Econcretus, a Spain-based construction company responsible for manufacturing and installation of products. EConcretus and Smart Engineering have collaborated to design and manufacture the GFRC parts for the façade of the Diagonal 0 building in Barcelona. The unique feature of these parts is their optimized dimensions, considering the high service loads and the extensive variety of parts with varying dimensions.

In March 2021, UltraTech Cement, an Aditya Birla group Indian-based cement company, acquired 3B BinaniGlassfibre by purchasing the company's pledged shares from the Bank of Baroda London. Ultratech Nathdwara Cement, a subsidiary of UltraTech Cement, revoked the pledged shares of 3B BinaniGlassfibreSarl Luxembourg with the Security Agent, Bank of Baroda London, and directed the bank to transfer the 3B shares to UltraTech. This acquisition helps UltraTech Cement to indulge in glass fiber solution businesses ranging from e-glass to various sustainable solutions. 3B BinaniGlassfibre is a Luxembourg-based key glass fiber solution company.

Major companies operating in the in the glass fiber reinforced concrete market report are Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co. Inc., Clark Pacific Corp., Loveld UK Ltd., Fibrex Construction Group LLC, Nanjing Beilida New Material System Engineering Co. Ltd., Low & Bonar India Pvt. Ltd., Stromberg Architectural Products Inc., Betofiber A. S., Bb Fiberbeton AS, BCM GRC Ltd., Blue Fox Concrete Products Private Limited, CHENG Concrete LLC, Fishstone Ltd., Frey-Fil Corporation, GB Architectural Cladding Products Ltd., Hard Rock Developments Ltd., Pennine Stone Ltd., Surecrete Design Products Inc., Glass Reinforced Concrete UK Ltd., Telling Ltd., Grass Roots Research & Creation India Ltd., BarChip Pty Ltd., CEMEX SAB de CV, Sika AG, N. V. Bekaert S. A., GCP Applied Technologies Inc., Modern Building Contracting Company, Blue Ridge Fiberboard Inc., Cast Supply Ltd., Cemrock Landscapes Inc., Concreteworks East Inc., Dura Art Stone Inc., Elite Crete Systems Inc., Envision Concrete Inc.

North America was the largest region in the glass fiber reinforced concrete market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glass fiber reinforced concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the glass fiber reinforced concrete market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The glass fiber reinforced concrete market consists of sales of carbon, aramid, and acrylics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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