What Has Been the Growth Trajectory of the Glass Fiber Reinforced Concrete Market?
The glass fiber reinforced concrete market has seen considerable growth due to a variety of factors.
• In recent times, the market size for glass fiber reinforced concrete has experienced substantial growth. The market is expected to soar from $3.92 billion in 2024 to $4.42 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.7%.
The observed expansion during the historical period can be credited to a surge in restoration and renovation projects, escalated demand from the construction sector, increasing interest from the residential arena, and growing needs from the commercial sector, alongside the rise of urbanization.
What Does the Future Hold for the Glass Fiber Reinforced Concrete Market?
The glass fiber reinforced concrete market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size for glass fiber reinforced concrete is projected to expand rapidly. By 2029, it is expected to reach $7.65 billion, with a compound annual growth rate (CAGR) of 14.7%.
This growth in the predicted period is largely due to the rising preference for sustainable construction, expansion in commercial construction, investments in infrastructure, the invention of ultra-high-performance GFRC, and the increased demand for lightweight and durable construction materials. Trends to look out for in the projected period include 3D printing technology, customization/personalization, thin and lightweight panels, advancements in manufacturing techniques, and the incorporation of fiber optics and lighting.
What Are the Critical Driver Fuelling the Glass Fiber Reinforced Concrete Market's Growth?
The growth of the glass fiber-reinforced concrete market is increasingly influenced by the escalating focus on green buildings. Green buildings denote the architecture, creation, and functionality of structures that put a high priority on energy conservation, resource saving, sustainability, and the preservation of the environment. Glass fiber-reinforced concrete is widely used in these structures, contributing crucially to ecological construction. For instance, the World Green Building Council, a non-profit organization based in the U.S and connected globally to national Green Building Councils, forecasted that by 2030, all new constructions will embody at least 40% less carbon than the existing ones, alongside substantial initial carbon reductions, and all new buildings will have a net zero carbon operation. Consequently, the strong focus on green buildings will inevitably result in a surge in demand for green fiber-reinforced concrete, which is anticipated to boost the expansion of the glass fiber-reinforced concrete market in the coming years.
How Is the Glass Fiber Reinforced Concrete Market segmented?
The glass fiber reinforced concrete market covered in this report is segmented –
1) By Process: Spray, Premix, Hybrid
2) By Type: C30, C60, C100
3) By Application: Commercial Construction, Residential Construction, Civil And Other Infrastructure Construction
Subsegments:
1) By Spray: Wet Spray, Dry Spray
2) By Premix: Ready-Mix, Site-Mix
3) By Hybrid: Combination Of Wet And Dry Methods, Custom Blending Techniques
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What New Trends Are Influencing the Glass Fiber Reinforced Concrete Market?
One major emerging trend in the glass fiber reinforced concrete market is the use of 3D printing technologies. Industry giants are concentrating on harnessing 3D printing solutions to fortify their market standing. For example, in October 2022, US-based construction tech firm, Branch Technology, unveiled its new BranchClad GFRC product line, which has secured the Environmental Product Declaration (EPD) certification. This development emphasizes the company's dedication to green construction methodologies while providing cutting-edge 3D-printed cladding alternatives that meet tough environmental norms. The purpose of this product line is to equip architects and engineers with environmentally friendly choices that uphold outstanding performance and visual attractiveness.
Who Are the Key Players in the Glass Fiber Reinforced Concrete Market?
Major companies operating in the glass fiber reinforced concrete market include:
• 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.
What Is The Most Dominant Region In The Glass Fiber Reinforced Concrete Market?
North America was the largest region in the glass fiber reinforced concrete market in 2024.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
