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

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?

For more insights on the market share of various regions Request for a FREE sample now!

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?

To gain further insights on the market contribution of various segments Request for a FREE sample

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.

You may be interested in:

Glass Fiber market - The market size is expected to grow by $ 3.79 bn and record a CAGR of 5.22% during 2021-2025.

Glass Fiber Reinforced Plastic (GFRP) market - The market share is expected to increase by USD 7.68 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.35%.

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	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

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

We can help! Our analysts can customize this report to meet your requirements. Get in touch