The global glass fiber reinforced concrete market size is expected to grow from $2.74 billion in 2021 to $3.10 billion in 2022 at a compound annual growth rate (CAGR) of 13.24%. The global glass fiber reinforced concrete market size is expected to grow to $5.13 billion in 2026 at a CAGR of 13.41%.
What is the Global Glass Fiber Reinforced Concrete Market?
The glass fiber reinforced concrete market consists of sales of glass fiber reinforced concrete (GFRC) by entities (organizations, partnerships, and sole proprietors) that is used to make structural concrete products that are both strong and lightweight, such as building panels, exterior building façade panels and architectural precast concrete. GFRC is similar to chopped fiberglass, but far weaker. It is composed of fine sand, cement, polymer, water, other admixtures, and alkali-resistant (AR) fibers.
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What drives the Global Glass Fiber Reinforced Concrete Market?
Increasing emphasis on green buildings is significantly driving the growth of the glass fiber reinforced concrete market. Green buildings use glass fiber reinforced concrete as a predominant option for sustainable construction. As a result of the growing population and rapid urbanisation, various emerging and developed economies are witnessing rapid increase in green buildings. For instance, as of August 2020, the Indian Green Building Council (IGBC) has reported that India has effectively reached 7.17 billion square feet of 'Green Building Footprint,' and there are nearly 6,000 green projects and over 5.77 lakh acres of large development projects are under construction in India. Furthermore, with government and partners consultation, the IGBC has set a target of building 10 billion square feet of green buildings by 2022. Similarly, the Leadership in Energy and Environmental Design (LEED) of the United States has reported that the number of green buildings is growing at a rapid pace. Thus, significant emphasis on green buildings will invariably create huge demand for green fiber reinforced concrete and expected to propel the growth of the glass fiber reinforced concrete market going forward.
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Global Glass Fiber Reinforced Concrete Market Segments
The global glass fiber reinforced concrete market is segmented:
By Process: Spray, Premix, Hybrid
By Type: C30, C60, C100
By Application: Commercial Construction, Residential Construction, Civil and Other Infrastructure Construction
By Geography: The regions covered in the glass fiber reinforced concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Glass Fiber Reinforced Concrete Global Market Report 2022provides market size and growth forecasts for the global glass fiber reinforced concrete market, global glass fiber reinforced concrete market share, glass fiber reinforced concrete market segments and geographies, glass fiber reinforced concrete market competitive landscape including leading competitors’ revenues, profiles and market shares. The glass fiber reinforced concrete market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Glass Fiber Reinforced Concrete Industry Playersinclude Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co., Clark Pacific, Loveld, Fibrex Construction Group, Nanjing Beilida New Material System Engineering Co., Low & Bonar, Stromberg Architectural, Betofiber A.S., Bb Fiberbeton, BCM GRC Ltd., Blue Concrete, CHENG Concrete, Fishstone, Frey-Fil Corporation, GB Architectural Cladding Products, Hard Rock Developments, Pennine Stone, Surecrete Design Products, Glass Reinforced Concrete UK Ltd., Telling Ltd, GRCUK, and BarChip Pty Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
