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Glass Fiber Reinforced Concrete (GFRC) Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 119
  • SKU: IRTNTR73398
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The glass fiber reinforced concrete (GFRC) market share is projected to surge to USD 600.55 million by 2026 at a progressing CAGR of 6.16%. This research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

The report extensively covers glass fiber reinforced concrete (GFRC) market segmentation by the following:

  • Application - Commercial construction, residential construction, and civil and other infrastructure construction 
  • Geography - North America, Europe, APAC, South America, and Middle East and Africa

The glass fiber reinforced concrete (GFRC) market report also offers information on key market vendors, including ASAHI BUILDING-WALL Co. Ltd, BarChip Pty Ltd., BCM GRC Ltd., Chiltern GRC Ltd., Dalian Shantai New Industrial Co. Ltd., Domcrete GFRC Countertop Supplies, Fibrobeton Yapi Elemanlari, Fishstone Studio Inc., Formglas Products Ltd., GB Architectural Cladding Products Ltd., Glass Reinforced Concrete UK Ltd., Pennine Stone Ltd., Shanghai Zhuoou Building Decoration Engineering Co. Ltd., Smooth On Inc., SureCrete Design Products, Ibstock Telling, and Betofiber AS among others.

What will the Glass Fiber Reinforced Concrete (GFRC) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Glass Fiber Reinforced Concrete (GFRC) Market Size for the Forecast Period and Other Important Statistics

 

Glass Fiber Reinforced Concrete (GFRC) Market: Key Drivers, Trends, and Challenges

The reduced construction time and cost is notably driving the glass fiber reinforced concrete (GFRC) market growth, although factors such as availability of substitutes may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the glass fiber reinforced concrete (GFRC) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Glass Fiber Reinforced Concrete (GFRC) Market Driver

One of the key factors driving the global glass fiber reinforced concrete (GFRC) market growth is the reduced construction time and cost. Reduction in time also results in a reduction of human labor, which leads to cost-saving. Unlike cast-in-situ construction, precast uses fewer resources such as cement, fiber reinforcement, water, energy, and human labor, thereby generating less waste in the factory and construction sites. Precast construction allows parts of an entire building to be made even before the completion of the foundation for the same. Improved quality and productivity, shortened construction time, and reduced waste generation makes this type of construction method cheaper, making it preferable for end-users. Such factors will drive the growth of the market in focus during the forecast period.

Key Glass Fiber Reinforced Concrete (GFRC) Market Trend

Increased use of GFRC in the construction industry is one of the key GFRC market trends that is expected to impact the industry positively in the forecast period. The following key factors drive the growth in investments made in the residential sector:

  • Demographics: Countries having a youth population in the majority will generate more demand for housing units. For instance, countries such as Malaysia, with most of its population aged between 16 and 60 years, will create a demand for numerous housing units in the coming years due to rapid urbanization.
  • Economy: In broad terms, if the nation's economy is slow, the global real estate business will follow suit in that country.
  • Government policies: Government incentives or subsidies temporarily boost the global real estate business. The reduction in tax credits helps to increase the customer's confidence in the sector.

Key Glass Fiber Reinforced Concrete (GFRC) Market Challenge

One of the key challenges to the global glass fiber reinforced concrete market growth is the availability of substitutes such as carbon fiber, basalt fiber, and natural fiber.

  • Carbon fiber- Compared with glass fiber, carbon fiber is lightweight and exhibits high tensile strength, stiffness, and density, and is thus used in a variety of applications. It is mixed with other materials to make composites that are widely used in construction, electronics enclosures, and automotive applications.
  • Basalt fiber- It is produced from naturally occurring volcanic rocks. It has excellent thermal stability, high-temperature filtration, high acid and UV resistivity, and high-energy electromagnetic radiation and is used as a reinforcing material in the construction and automotive industry.
  • Natural fiber- Its composites exhibit low density, high specific strength, and excellent stiffness. In addition, they have a high Young's modulus, low content of toxic materials, and are less prone to damages caused by abrasion.

The increased usage of these substitutes may limit the market growth in the coming years.

This glass fiber reinforced concrete (GFRC) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Which are the Key Regions for Glass Fiber Reinforced Concrete (GFRC) Market?

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41% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for glass fiber reinforced concrete (GFRC) in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.

The significant increase in the demand for GFRC in construction, transportation, and electronics and electrical industries will facilitate the glass fiber reinforced concrete (GFRC) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Widespread efforts, including the temporary closure of non-essential businesses, event cancellations, travel restrictions, quarantines, and other disruptive actions, were implemented by several countries in the region to prevent the disease from spreading. All these factors negatively impacted the operations of GFRC manufacturing units in the region. Although residential construction was reduced due to the COVID-19 pandemic in 2020, which negatively affected the GFRC market, growth is expected to pick up in the first half of 2022 and continue during the forecast period. The construction sector of Canada witnessed progress in 2021. The construction industry is expected to grow gradually during the forecast period due to the increase in investments from the private and government sectors. 

What are the Revenue-generating Application Segments in the Glass Fiber Reinforced Concrete (GFRC) Market?

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The glass fiber reinforced concrete (GFRC) market share growth by the commercial construction segment will be significant during the forecast period. The adoption of GRFC in commercial construction is increasing due to its benefits, which include the following:

  • Increased stiffness
  • Torsional strength
  • Ductility
  • Rotational capacity
  • Cracks with less crack width. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the glass fiber reinforced concrete (GFRC) market size and actionable market insights on post COVID-19 impact on each segment.

Who are the Major Glass Fiber Reinforced Concrete (GFRC) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ASAHI BUILDING-WALL Co. Ltd
  • BarChip Pty Ltd.
  • BCM GRC Ltd.
  • Chiltern GRC Ltd.
  • Dalian Shantai New Industrial Co. Ltd.
  • Domcrete GFRC Countertop Supplies
  • Fibrobeton Yapi Elemanlari
  • Fishstone Studio Inc.
  • Formglas Products Ltd.
  • GB Architectural Cladding Products Ltd.
  • Glass Reinforced Concrete UK Ltd.
  • Pennine Stone Ltd.
  • Shanghai Zhuoou Building Decoration Engineering Co. Ltd.
  • Smooth On Inc.
  • SureCrete Design Products
  • Ibstock Telling
  • Betofiber AS

 

This statistical study of the glass fiber reinforced concrete (GFRC) market encompasses successful business strategies deployed by the key vendors. The glass fiber reinforced concrete (GFRC) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ASAHI BUILDING-WALL Co. Ltd - The company offers glass fiber reinforced concrete as glass blocks that are inlayed in the GRC to create the punctured exterior walls.
  • ASAHI BUILDING-WALL Co. Ltd - Under the unified segment, the company provides the interface of detailed planning, manufacture, and construction materials. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The glass fiber reinforced concrete (GFRC) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Parent Market Analysis

Technavio categorizes the global glass fiber reinforced concrete market as a part of the global construction materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the glass fiber reinforced concrete (GFRC) market during the forecast period.

Glass Fiber Reinforced Concrete (GFRC) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the glass fiber reinforced concrete (GFRC) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Glass Fiber Reinforced Concrete (GFRC) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.16%

Market growth 2022-2026

$ 600.55 million

Market structure

Fragmented

YoY growth (%)

5.2

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ASAHI BUILDING-WALL Co. Ltd, BarChip Pty Ltd., BCM GRC Ltd., Chiltern GRC Ltd., Dalian Shantai New Industrial Co. Ltd., Domcrete GFRC Countertop Supplies, Fibrobeton Yapi Elemanlari, Fishstone Studio Inc., Formglas Products Ltd., GB Architectural Cladding Products Ltd., Glass Reinforced Concrete UK Ltd., Pennine Stone Ltd., Shanghai Zhuoou Building Decoration Engineering Co. Ltd., Smooth On Inc., SureCrete Design Products, Ibstock Telling, and Betofiber AS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Glass Fiber Reinforced Concrete (GFRC) Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive glass fiber reinforced concrete (GFRC) market growth during the next five years
  • Precise estimation of the glass fiber reinforced concrete (GFRC) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the glass fiber reinforced concrete (GFRC) industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of glass fiber reinforced concrete (GFRC) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Commercial construction - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Commercial construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Commercial construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Commercial construction - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Commercial construction - Year-over-year growth 2021-2026 (%)
    • 5.4 Residential construction - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Residential construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Residential construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Residential construction - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Residential construction - Year-over-year growth 2021-2026 (%)
    • 5.5 Civil and other infrastructure construction - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Civil and other infrastructure construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Civil and other infrastructure construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Civil and other infrastructure construction - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Civil and other infrastructure construction - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 40: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 ASAHI BUILDING-WALL Co. Ltd
              • Exhibit 93: ASAHI BUILDING-WALL Co. Ltd - Overview
              • Exhibit 94: ASAHI BUILDING-WALL Co. Ltd - Product / Service
              • Exhibit 95: ASAHI BUILDING-WALL Co. Ltd - Key offerings
            • 10.4 BCM GRC Ltd.
              • Exhibit 96: BCM GRC Ltd. - Overview
              • Exhibit 97: BCM GRC Ltd. - Product / Service
              • Exhibit 98: BCM GRC Ltd. - Key offerings
            • 10.5 Betofiber AS
              • Exhibit 99: Betofiber AS - Overview
              • Exhibit 100: Betofiber AS - Product / Service
              • Exhibit 101: Betofiber AS - Key offerings
            • 10.6 Domcrete GFRC Countertop Supplies
              • Exhibit 102: Domcrete GFRC Countertop Supplies - Overview
              • Exhibit 103: Domcrete GFRC Countertop Supplies - Product / Service
              • Exhibit 104: Domcrete GFRC Countertop Supplies - Key offerings
            • 10.7 Fibrobeton Yapi Elemanlari
              • Exhibit 105: Fibrobeton Yapi Elemanlari - Overview
              • Exhibit 106: Fibrobeton Yapi Elemanlari - Product / Service
              • Exhibit 107: Fibrobeton Yapi Elemanlari - Key offerings
            • 10.8 Fishstone Studio Inc.
              • Exhibit 108: Fishstone Studio Inc. - Overview
              • Exhibit 109: Fishstone Studio Inc. - Product / Service
              • Exhibit 110: Fishstone Studio Inc. - Key offerings
            • 10.9 Formglas Products Ltd.
              • Exhibit 111: Formglas Products Ltd. - Overview
              • Exhibit 112: Formglas Products Ltd. - Product / Service
              • Exhibit 113: Formglas Products Ltd. - Key offerings
            • 10.10 GB Architectural Cladding Products Ltd.
              • Exhibit 114: GB Architectural Cladding Products Ltd. - Overview
              • Exhibit 115: GB Architectural Cladding Products Ltd. - Product / Service
              • Exhibit 116: GB Architectural Cladding Products Ltd. - Key offerings
            • 10.11 Glass Reinforced Concrete UK Ltd.
              • Exhibit 117: Glass Reinforced Concrete UK Ltd. - Overview
              • Exhibit 118: Glass Reinforced Concrete UK Ltd. - Product / Service
              • Exhibit 119: Glass Reinforced Concrete UK Ltd. - Key offerings
            • 10.12 Smooth On Inc.
              • Exhibit 120: Smooth On Inc. - Overview
              • Exhibit 121: Smooth On Inc. - Product / Service
              • Exhibit 122: Smooth On Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The glass fiber reinforced concrete (gfrc) market growth will increase by $600.55 million during 2022-2026.
              The glass fiber reinforced concrete (gfrc) market is expected to grow at a CAGR of 6.16% during 2022-2026.
              Technavio has segmented the glass fiber reinforced concrete (gfrc) market by geographic (North America, Europe, APAC, South America, and Middle East and Africa).
              ASAHI BUILDING-WALL Co. Ltd, BarChip Pty Ltd., BCM GRC Ltd., Chiltern GRC Ltd., Dalian Shantai New Industrial Co. Ltd., Domcrete GFRC Countertop Supplies, Fibrobeton Yapi Elemanlari, Fishstone Studio Inc., Formglas Products Ltd., GB Architectural Cladding Products Ltd., Glass Reinforced Concrete UK Ltd., Pennine Stone Ltd., Shanghai Zhuoou Building Decoration Engineering Co. Ltd., Smooth On Inc., SureCrete Design Products, Ibstock Telling, Betofiber AS are a few of the key vendors in the glass fiber reinforced concrete (gfrc) market.
              North America will register the highest growth rate of 40.65% among the other regions. Therefore, the glass fiber reinforced concrete (gfrc) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the glass fiber reinforced concrete (gfrc) market growth are:
              • Reduced construction time and cost

                Precast concrete construction offers significantly reduced construction time. Reduction in time also results in a reduction of human labor, which leads to cost-saving. Precast components are produced in factories under a controlled environment, enabling easy adjustments and real-time monitoring. Unlike cast-in-situ construction, precast uses fewer resources such as cement, fiber reinforcement, water, energy, and human labor, thereby generating less waste in the factory and construction sites. Precast construction allows parts of an entire building to be made even before the completion of the foundation for the same. Modular construction takes only four to eight weeks to be completed and assembled. At the same time, the conventional on-site constructed buildings require twice the time for the construction of a similar-sized structure. Improved quality and productivity, shortened construction time, and reduced waste generation makes this type of construction method cheaper, making it preferable for end-users. Such factors are expected to propel the growth of the market in focus during the forecast period.


              • Increased use of GFRC in the construction industry

                The following key factors drive the growth in investments made in the residential sector:

                • Demographics: The data that represents the composition of the population, age, race, gender, migration trends, and population growth is demographics. These statistics play a significant role in property demand pricing. Countries having a youth population in the majority will generate more demand for housing units. For instance, countries such as Malaysia, with most of its population aged between 16 and 60 years, will create a demand for numerous housing units in the coming years due to rapid urbanization. 
                • Economy: Economic indicators help measure a nation's economy and include GDP, manufacturing activity, employment data, and prices of goods. In broad terms, if the nation's economy is slow, the global real estate business will follow suit in that country. 
                • The glass fiber reinforced concrete (gfrc) market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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