Latest Trend of Glass Fiber Reinforced Concrete (GFRC) Market in Global Industry 2018-2024
The global glass fiber reinforced concrete market (GFRC) is likely to gain significant momentum in the coming years, owing to the rising concerns about environment conservation.
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GFRC is produced using recycled and low toxicity raw materials including glass fibers, sand, cement, and water. They offer superior mechanical characteristics as compared to traditional building materials such as steel reinforced concrete (SRC). GFRC is durable, lightweight, and long lasting, thereby reducing the maintenance and transportation costs associated with its usage. The growing awareness regarding the advantages offered by this concrete is estimated to augur well for the growth of the global market.
The report provides an in-depth analysis of the various critical parameters of the global GFRC market. It presents a detailed description of the market dynamics including trends and opportunities. It serves as an essential source of analysis and information regarding the competitive landscape of the global GFRC market. It profiles the key companies operating in the market along with their business strategies, market shares, cost and revenue structure, and latest developments. It also takes into account a SWOT analysis that discloses the anticipated trajectory each key company will experience. For a coherent understanding, the report has segmented the market on the basis of various criteria including geography and application.
Global GFRC Market: Drivers and Restraints
The global GFRC market is primarily driven by the increasing emphasis on green buildings, which are rated by the Leadership in Energy and Environmental Design (LEED). The rising penetration in end-use industries is fuelling the market. Other factors such as rapid urbanization and flourishing growth of the construction sector in emerging economies are working in favor of the growth of the market.
Despite the numerous advantages offered by GFRC, its lower ductility as compared to SRC is limiting its widespread adoption. Moreover, the capital intensive research and development leads to the high final cost, which in turn is hampering the growth of the market. Nevertheless, the market looks bright in developing countries owing to increasing emphasis on GFRC structural insulated panels and fire-retardant building materials. Furthermore, the advent of new technologies are expected to reduce the cost of GFRC, thereby boosting its adoption in the near future.
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Global GFRC Market: Regional Outlook
On the basis of geography, the global GFRC market can be segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. The Europe region is estimated to expand at a brisk pace over the forthcoming years, with the U.K. being a major revenue contributor. The growth of this region can be attributed to the rising environmental concerns and the robust growth of the construction industry. Asia Pacific and Latin America are likely to flourish owing to the increasing mining and construction activities and rising disposable income of consumers. The market for GFRC in North America is anticipated to expand at a promising rate in the near future.
Companies Mentioned in the Report:
In order to study the prevailing competition, the report also profiles some of the key players operating in the global GFRC market. Major participants in this space include BCM GRC Ltd., Domcrete GFRC Countertop Supplies, Betofiber A/S, Blue Concrete, CHENG Concrete, Fibrobeton Yapi Elemanlari, Fibrex Construction Group, Fishtone, Frey-Fil Corp., Formglas Products Ltd., GB Architectural Cladding Products Ltd., Glass Reinforced Concrete UK Ltd., Hard Rock Developments Inc., Loveld, Pennine Stone Ltd., Surecrete Design Products, and Telling Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
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