Fiberglass Reinforced Concrete (GFRC) Market – 41% of Growth Will Come from North America | Driven by reducing construction time and costs

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NEW YORK, May 17, 2022 /PRNewswire/ — The Global Glass Fiber Reinforced Concrete (GFRC) Market Size is Expected to Increase by $600.55 million from 2021 to 2026 to a CAGR of 6.16% according to Technavio’s latest market report. 41% of market growth will come from North America during the forecast period. The United States and Canada are the main markets for glass fiber reinforced concrete (GFRC) in North America. The growth of the market in this region will be faster than the growth of the market in South America and AME. Significant increase in demand for GFRC in construction, transportation, electronics and electrical industries will facilitate the growth of the glass fiber reinforced concrete (GFRC) market in North America over the forecast period.

Technavio has announced its latest market research report titled Fiberglass Reinforced Concrete (GFRC) Market by Application and Geography – Forecast and Analysis 2022-2026

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Read the 120-Page Report with Table of Contents on Glass Fiber Reinforced Concrete (GFRC) Market Analysis Report by Application (Commercial Construction, Residential Construction, and Civil and Other Infrastructure Construction) and Geography (North America, EuropeACPA, South Americaand Middle East and Africa), and Segment Forecast, 2022-2026″. Gain competitive insights on market leaders. Track key industry opportunities, trends, and threats. Insights on marketing, brand, strategy, and market development, sales and supply functions. https://www.technavio.com/report/report/glass-fiber-reinforced-concrete-gfrc-market-industry-analysis

Glass Fiber Reinforced Concrete (GFRC) Market: Drivers and Trends

The key factor driving the growth of the global glass fiber reinforced concrete (GFRC) market is the reduced construction time and cost. The reduction in time also leads to a reduction in human labor, which leads to savings. Unlike cast-in-place construction, precast uses fewer resources such as cement, fiber reinforcement, water, energy and human labor, thus generating less waste in the factory and construction sites . Prefabricated construction makes it possible to manufacture parts of an entire building before the foundation of the building is even completed. Improved quality and productivity, shorter construction time, and reduced waste generation make this type of construction method cheaper, making it preferable for end users. These factors will drive the growth of the market direction over the forecast period.

Also increased use of GFRC in the construction industry is one of the key trends in the GFRC market that is expected to positively impact the industry over the forecast period. The following key factors are driving the growth of investment in the residential sector:

  • Demography: Countries with a predominantly young population will generate more demand for housing. For example, countries like Malaysiawhose majority of the population is between the ages of 16 and 60, will create a demand for a lot of housing in the coming years due to rapid urbanization.

  • Economy: In general terms, if the economy of the country is slow, the global real estate activity will follow in this country.

  • Government policies: Government incentives or subsidies temporarily boost global real estate activity. The reduction in tax credits helps to increase customer confidence in the sector.

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Some of the Major Players in Fiberglass Reinforced Concrete (GFRC):

The glass fiber reinforced concrete (GFRC) market is fragmented and vendors are deploying organic and inorganic growth strategies to compete in the market.

  • ASAHI BUILDING-WALL Co. Ltd

  • BarChip Pty Ltd.

  • BCM GRC Ltd.

  • Chiltern RCMP Ltd.

  • Dalian Shantai New Industrial Co.Ltd.

  • Domcrete GFRC Countertop Supplies

  • Fibrobeton Yapi Elemanlari

  • Fishstone Studio Inc.

  • Formglas Products Ltd.

  • GB Architectural Cladding Products Ltd.

  • Glass Reinforced Concrete UK Ltd.

  • Pennine Stone Ltd.

  • Shanghai Zhuoou Building Decoration Engineering Co.Ltd.

  • Smooth on inc.

  • SureCrete Design Products

  • Ibstock tells

  • Betofibre AS

Glass Fiber Reinforced Concrete (GFRC) Market: Segmentation Analysis

Application Outlook (Revenue, USD Million, 2021-2026)

  • Commercial construction – size and forecast 2021-2026

  • Residential construction – size and forecast 2021-2026

  • Civil and other infrastructure construction – size and forecast 2021-2026

Geographic Outlook (Revenue, USD Million, 2021-2026)

  • North America – size and forecast 2021-2026

  • Europe – size and forecast 2021-2026

  • APAC – size and forecast 2021-2026

  • South America – size and forecast 2021-2026

  • Middle East and Africa – size and forecast 2021-2026

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The competitive scenario provided in the Glass Fiber Reinforced Concrete (GFRC) market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors taken into consideration for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc. your business goals with our Glass Fiber Reinforced Concrete (GFRC) Market Forecast Report – Buy now!

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Scope of Glass Fiber Reinforced Concrete (GFRC) Market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 6.16%

Market Growth 2022-2026

$600.55 million

Market structure

Fragmented

Annual growth (%)

5.2

Successful market contribution

North America at 41%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

ASAHI BUILDING-WALL Co. Ltd., BarChip Pty Ltd., BCM GRC Ltd., Chiltern GRC Ltd., Dalian Shantai New Industrial Co. Ltd., Domcrete GFRC Countertop Supplies, Fibrobeton Yapi Elemanlari, Fishstone Studio Inc., Formglas Products Ltd. , GB Architectural Cladding Products Ltd., Glass Reinforced Concrete UK Ltd., Pennine Stone Ltd., Shanghai Zhuoou Building Decoration Engineering Co. Ltd., Smooth On Inc., SureCrete Design Products, Ibstock Telling and Betofiber AS

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

About Technavio
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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