According to the report, the global GFRG market was approximately USD 2.45 billion in 2018 and is expected to generate around USD 4.21 billion by 2026, at a CAGR of around 7% between 2019 and 2026.
New York, NY, June 12, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “GFRG Market by Type (Type X and Type C), by Application (Interior and Exterior), and by End-Use (Residential and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global GFRG market was approximately USD 2.45 billion in 2018 and is expected to generate around USD 4.21 billion by 2026, at a CAGR of around 7% between 2019 and 2026.
Glass fiber reinforced gypsum or GFRG is a mix of gypsum, sand, and Portland cement. It mainly contains glass fiber reinforcement and ultra-fine alpha plaster. GFRG can be cast into virtually any shape and size. The material is extremely strong and lightweight, as it requires little to no additional structural support apart from being painted in any color. The rapid growth of the construction and infrastructure sectors is a major factor driving the global GFRG market growth. GFRG can be used for residential and non-residential uses. The construction sector generally demands materials that have good absorption capabilities, high temperature-resistance, quick installation capabilities, and environment-friendly in nature. These features are present in GFRG, which makes it one of the most widely used materials in the construction sector. Alternatively, GFRG’s low product cost and lightweight is making it popular in countries prone to natural calamities like Japan, China, and the U.S., among other coastal countries.
Browse through 105 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global GFRG Market: By Type, Applications, Industry Size, Share, Trends, Segments, Analysis and Forecast, 2018–2026”.
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On the basis of type, the market is divided into Type X and Type C. Type X dominated the GFRG market globally in terms of both value and volume in 2018, due to its extensive use in the commercial sector.
On the basis of application, the market is divided into interior and exterior. The interior segment led the global market in terms of both value and volume in 2018. This can be attributed to GFRG’s ability to mold into any shape or size. It is popularly used to make partitions and load-bearing walls, as they are economical compared to other alternatives available.
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By end-use, the GFRG market is divided into commercial and residential. The commercial segment is likely to lead throughout the forecasted timeframe, both in terms of volume and value. There are substantial developments in process in the commercial sector, which is expected to fuel this segment in the future. The commercial use of GFRG includes institutes, hospitals, offices, airports, etc.
Geographically, the Middle Eastern and African GFRG market is likely to generate the highest revenue throughout the forecast time period. This high revenue contribution can be attributed to the ongoing infrastructural developments and rising number of major projects across the region. The increasing demand for aesthetic buildings and escalating rapid construction material need is further fuelling the region’s GFRG market.
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The European GFRG market has improved immensely over the last few years, due to the high demand for Type X GFRG. Europe holds the second spot in the global GFRG market. GFRG’s strength and lightweightness will positively influence the GFRG market in Europe in the years ahead.
North America will hold a major share in the global GFRG market over the forecast time period, due to the rising demand for eco-friendly construction materials. The U.S. and Canada are expected to be the major countries that will contribute maximum shares to the growth of the North American GFRG market.
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Asia Pacific will hold a significant share of the global GFRG market in the future, owing to the low cost and rapid construction activities witnessed across the region. Countries like India, China, and Japan that are located near the coastal areas are often struck by natural calamities. GFRG is temperature-resistant, cost-effective, strong, and environment-friendly apart from being an alternative to traditional materials. This will further drive the GFRG market in the Asia Pacific region.
Some major players of the global GFRG market are CertainTeed, Saint-Gobain, Continental Building Products, USG Corporation, Knauf Danoline, Georgia-Pacific, National Gypsum Company, Yingchuang Building Technique, FACT – RCF Building Products, American Gypsum, Formglas Products, Gillespie, Shanghai Chuncui Decoration Material, Stromberg Architectural, Rapidwall, Plasterceil Industries, Chiyoda UTE, Owens Corning, Horizons Industrial Development, Intexforms, Fibrex, and GC Products.
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This report segments the global GFRG market into:
Global GFRG Market: By Type
- Type X
- Type C
Global GFRG Market: By Application
Global GFRG Market: By End-Use
Global GFRG Market: By Region
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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