Global Glass Fibre Reinforced Concrete (GFRC) Market Size, Share, Price, Trends, Growth, Report And Forecast 2
According to the findings of the Expert Market Research (EMR) report, the size of the global market for glass fibre reinforced concrete (GFRC) is estimated to expand at a compound annual growth rate (CAGR) of 10% from 2023 to 2028. This growth is driven by the growing need for construction materials that are both sturdy and lightweight, as well as the expanding use of GFRC across different industries. As a result, it is anticipated that the market will experience substantial growth by 2028.
Glass Fibre Reinforced Concrete (GFRC) is a strong composite substance composed of cement, glass fibers, materials, and water. It provides numerous advantages, such as remarkable longevity, reduced weight in comparison to standard concrete, and immense versatility in terms of design. Additionally, GFRC boasts exceptional resilience against weathering, cracking, and major breakdown, thus making it an appealing option for diverse construction ventures like business establishments, private residences, and civil engineering and infrastructure projects.
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The main factor behind the growth of the GFRC industry worldwide is the growing popularity of durable and lightweight building materials among consumers. People are becoming more aware of the benefits of using strong and light materials in construction, which has resulted in a noticeable increase in the use of GFRC products. Another contributing factor is the current trend towards eco-friendly and sustainable construction practices. As GFRC is made from sustainable materials and offers exceptional energy efficiency, it has gained even more popularity in the industry.
The growing use of GFRC in various industries is also playing a major role in the growth of the glass fibre reinforced concrete (GFRC) market. In the business sector, GFRC is widely used for constructing buildings because of its impressive combination of strength, lightness, flexibility in design, and durability. In residential areas, GFRC is employed for a range of purposes like exterior facades and landscaping features, thanks to its adaptability and attractive appearance.
Moreover, the progress in technology and consistent creation of new products contribute significantly to the growth of the glass fibre reinforced concrete (GFRC) industry. Breakthroughs like incorporating nanomaterials and implementing advanced manufacturing methods have enhanced the properties of GFRC, particularly in terms of its strength and longevity. These advancements are anticipated to draw in a larger user base and ignite market expansion.
The building and construction industry is witnessing an escalating need for materials that can withstand fire. Thus, GFRC has gained significant attention as a feasible answer. As building codes become more rigorous and safety becomes a greater priority, GFRC has become essential in the production of fire-resistant construction goods. Consequently, this has caused the glass fibre reinforced concrete (GFRC) market to flourish.
GFRC Market Analysis and Categorization
The market can be categorized according to the kind of material used, its usage, as well as the geographical area.
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The Segmentation of the Market based on Material Category
Distribution of Market by Use
Architecture Cladding and Moldings Landscaping Foundations and Flooring Roofing Walls and Windows Engineering Permanent Formwork Utilities and Water Management Bridges and Tunnels Defense Miscellaneous
Regional Distribution of the Market Regional Segmentation of the Market Market Distribution Based on Geographical Locations Market Division by Area Market Classification by Locality
The continent of North America, the continent of Europe, the region of Asia Pacific, the region of Latin America, and the region of the Middle East and Africa.
The EMR report examines the market ownership, factory shutdowns, abilities, investments, and consolidations and mergers, among other significant advancements, of the worldwide companies that produce glass fibre reinforced concrete (GFRC). Several of the prominent entities investigated in the report by Expert Market Research include:
Different companies such as BarChip Pty Ltd, Chiltern GRC Ltd, Formglas Products Ltd, Pennine Stone Ltd, BetoFibre, and Yapi Elemanlari, among others, are involved in this sector.
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