Glass Fiber Reinforced Gypsum Market

Glass Fiber Reinforced Gypsum Market is segmented By Type (Type X, Type C, and others), By End-User (Residential Users, Non-Residential Users, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029.

Glass Fiber Reinforced Gypsum Market is expected to grow at a high CAGR 7.2%  during the forecasting period of ( 2022-2029).

Glass fiber reinforced gypsum (GFRG) consists of high strength alkali-resistant glass fiber embedded in a matrix of gypsum. The gypsum matrix used in GFRG applications should be neutral in order to be compatible with glass fibers. GFRG products are widely preferred owing to their enhanced properties and advantages such as high strength, improved dimensional stability, impact resistance and durability. GFRG products are majorly used in the fabrication of decorative walls, decorative pillars, ceilings, and columns.

Glass Fiber Reinforced Gypsum Market

Glass Fiber Reinforced Gypsum Market Dynamics:

• The growing construction industry, the need for eco-friendly construction materials, and the rising demand for GFRG products in interior applications are the major factors responsible for driving the global glass fiber reinforced gypsum market.

• The growing construction industry is a significant factor driving the global glass fiber reinforced gypsum market. GFRG products are widely used in the construction industry as panels, loadbearing walls, partition walls, ceilings and in other uses.

• According to a survey report by the construction intelligence center, the volume of construction industry output grew by 3.1% in 2018 compared to USD 10.6 trillion in 2017.

• Moreover, according to Oxford Economics, the volume of construction output will grow by 85% worldwide in 2030. Owing to these factors, the growth of the construction industry is anticipated to play the role of a significant factor in propelling the growth of the global glass fiber reinforced gypsum market.

• However, the high cost of GFRG based products and the availability of substitutes for GFRG products are the crucial aspects hampering the growth of the global glass fiber reinforced gypsum market.

Glass Fiber Reinforced Gypsum Market Segmentation:

• The Global Glass Fiber Reinforced Gypsum Market has been segmented by type, by application, by end-user, and by geography.

• Based on the end-user, the market is segmented as residential and non-residential. The Non-residential segment is the dominant segment of the global glass fiber reinforced gypsum market owing to their increased applications in the non-residential applications such as hospitals, auditoriums, public assembly halls, and others.

• Compared to traditional materials, GFRG products are very light in weight which makes it easy to install and modulate the structure whenever needed.

• GFRG products can be easily refinished and hence can be made in some designs for the fabrication of decorative pillars and decorative columns.

• GFRG being white can be easily painted and can be cast into any shape. Owing to such properties, the non-residential segment is anticipated to dominate the global glass fiber reinforced gypsum market in the future.

Glass Fiber Reinforced Gypsum Market Share:

• The Global Glass Fiber Reinforced Gypsum Market is segmented into North America, Europe, Asia Pacific, South America and Rest of the world.

• The European region is further segmented into the following areas like the UK, Germany, France, Italy, Spain, and others.

• The European region is the dominant segment of the global glass fiber reinforced market owing to the growth of the European construction industry. According to the European Commission, the construction industry generates about 9% of the GDP in the European Union and provides 18 million direct jobs.

• The average deal value of individual transactions increased to EUR 327 million in 2017 compared to EUR 203 million in 2016.

• Strategic deals show an increase for the fourth time in a year with 150 strategic deals in 2017 compared to 81 in 2013.

• Furthermore, more than 194 merger and acquisitions deals took place in the European Union in 2017 compared to 144 sales in 2016. Owing to these factors, the European Union is anticipated to dominate the global glass fiber reinforced gypsum market in the future.

Glass Fiber Reinforced Gypsum Market Industry Competition:

• Some of the major players in this market incorporate competitive strategies like new product launches and expansion of facilities to contribute to the growth of the company and improve their market growth rate.

• For instance, in November 2018, Georgia Pacific invested USD 4.5 million in installing a new 3000o square foot warehouse, a new state of the art laminating line. Similarly, Georgia Pacific opened a new USD 100 million facilities in Alabama focusing on providing long term value to the customers, employees and the company.

Frequently Asked Questions

What is the Projected CAGR value of the Glass Fiber Reinforced Gypsum Market?

Glass Fiber Reinforced Gypsum Market is expected to grow at a CAGR of 7.2% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Glass Fiber Reinforced Gypsum Market during 2022-2029.

Which is the fastest growing region in the Glass Fiber Reinforced Gypsum Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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