According to the report, the global glass fibre reinforced concrete (GFRC) market is projected to grow at a CAGR of 10% between 2023 and 2028. Aided by the rising demand for durable and lightweight construction materials and the increasing applications of GFRC in various sectors, the market is expected to grow significantly by 2028.
Glass Fibre Reinforced Concrete (GFRC) is a high-strength composite material made of cement, glass fibres, aggregates, and water. It offers multiple benefits, including excellent durability, lighter weight compared to traditional concrete, and great flexibility in design. Furthermore, GFRC has superior resistance to weathering, cracking, and catastrophic failure, making it an attractive choice in various construction projects, including commercial buildings, residential homes, civil and infrastructure constructions.
The global glass fibre reinforced concrete (GFRC) market growth is primarily driven by the increasing consumer preference for durable and lightweight construction materials. With the mounting awareness of the advantages of using lightweight and strong materials in construction, there has been a significant shift towards the use of GFRC, leading to a surge in demand for GFRC-based products. Additionally, the trend towards sustainable and green construction has further contributed to the rising popularity of GFRC, as it is made of sustainable materials and possesses excellent energy efficiency.
The expanding applications of GFRC in different sectors are also significantly propelling the glass fibre reinforced concrete (GFRC) market expansion. In the commercial industry, GFRC is used in the construction of buildings due to its excellent strength-to-weight ratio, design flexibility, and durability. The residential sector utilises GFRC in various applications, from exterior façades to landscaping elements, owing to its versatility and aesthetics.
Further, technological advancements and continuous product innovation play a critical role in boosting the glass fibre reinforced concrete (GFRC) market development. Developments such as the integration of nanomaterials and the use of advanced manufacturing techniques have improved the performance characteristics of GFRC, including its strength and durability. These innovations are expected to attract more users and stimulate market growth.
Finally, the growing demand for fire-resistant construction materials in the building and construction industry has led to an increased focus on GFRC as a viable solution. With the rise in stringent building codes and the increasing emphasis on safety, GFRC has emerged as a critical material in the formulation of fire-resistant construction products, thereby boosting the glass fibre reinforced concrete (GFRC) market expansion.
This high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Glass Fibre Reinforced Concrete (GFRC) is a high-strength composite material made of cement, glass fibres, aggregates, and water. It offers multiple benefits, including excellent durability, lighter weight compared to traditional concrete, and great flexibility in design. Furthermore, GFRC has superior resistance to weathering, cracking, and catastrophic failure, making it an attractive choice in various construction projects, including commercial buildings, residential homes, civil and infrastructure constructions.
The global glass fibre reinforced concrete (GFRC) market growth is primarily driven by the increasing consumer preference for durable and lightweight construction materials. With the mounting awareness of the advantages of using lightweight and strong materials in construction, there has been a significant shift towards the use of GFRC, leading to a surge in demand for GFRC-based products. Additionally, the trend towards sustainable and green construction has further contributed to the rising popularity of GFRC, as it is made of sustainable materials and possesses excellent energy efficiency.
The expanding applications of GFRC in different sectors are also significantly propelling the glass fibre reinforced concrete (GFRC) market expansion. In the commercial industry, GFRC is used in the construction of buildings due to its excellent strength-to-weight ratio, design flexibility, and durability. The residential sector utilises GFRC in various applications, from exterior façades to landscaping elements, owing to its versatility and aesthetics.
Further, technological advancements and continuous product innovation play a critical role in boosting the glass fibre reinforced concrete (GFRC) market development. Developments such as the integration of nanomaterials and the use of advanced manufacturing techniques have improved the performance characteristics of GFRC, including its strength and durability. These innovations are expected to attract more users and stimulate market growth.
Finally, the growing demand for fire-resistant construction materials in the building and construction industry has led to an increased focus on GFRC as a viable solution. With the rise in stringent building codes and the increasing emphasis on safety, GFRC has emerged as a critical material in the formulation of fire-resistant construction products, thereby boosting the glass fibre reinforced concrete (GFRC) market expansion.
Market Segmentation
The market can be divided based on material type, application, and region.Market Breakup by Material Type
- Sprayed
- Premix
- Hybrids
Market Breakup by Application
Architecture
- Cladding and Mouldings
- Landscaping
- Foundations and Floors
- Roofing
- Walls and Windows
Engineering
- Permanent Formwork
- Utilities and Water Management
- Bridges and Tunnels
- Defence
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global glass fibre reinforced concrete (GFRC) companies. Some of the major key players explored in the report are as follows:- BarChip Pty Ltd.
- Chiltern GRC Ltd
- Formglas Products Ltd
- Pennine Stone Ltd
- BetoFibre Yapi Elemanlari
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.This high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Industry Opportunities and Challenges12 Industry Events and Developments
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Glass Fibre Reinforced Concrete (GFRC) Market Analysis
9 Regional Analysis
10 Market Dynamics
11 Competitive Landscape
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 178 |
Published | September 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 3.02 Billion |
Forecasted Market Value ( USD | $ 4.86 Billion |
Compound Annual Growth Rate | 10.0% |
Regions Covered | Global |
No. of Companies Mentioned | 5 |