GFRG (Glass Fiber Reinforced Gypsum) Market by End User (Residential and Non-Residential), and Region

Based on end-user, the GFRG market has been segmented into residential and non-residential. The non-residential end-user segment is projected to lead the GFRG market during the forecast period, in terms of value and volume. The growth of the non-residential end-user segment can be attributed to the increased use of GFRG in non-residential buildings, such as offices, institutes, hospitals, gymnasiums, cinema theatres, museums, and auditoriums.

Europe is the largest market for GFRG, in terms of value and volume. The growth of the GFRG market in Europe can be attributed to the presence of leading GFRG manufacturers, such as Knauf Danoline (Denmark), Gillespie (UK), and the growth of the building & construction industry in the region. The GFRG market in MEA is projected to grow at the highest CAGR, in terms of volume and value, owing to the increase in the number of construction activities in this region.

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The GFRG market is projected to reach USD 3.44 billion by 2023, at a CAGR of 7.0% between 2018 and 2023. Developed economies across the globe are targeting long-term investments in the building & construction industry. This factor, in turn, is expected to increase the number of construction projects, thereby offering a positive outlook for the GFRG market. The increased spending on infrastructural projects is also contributing to the growth of the GFRG market.

The growth of the exterior segment can be attributed to the increased use of GFRG as walls and claddings in industrial and non-residential buildings, such as auditoriums, offices, institutes, hospitals, and cinema theaters.

Formglas (US), USG Corporation (US), Chiyoda UTE (Tokyo), Continental Building Products (US), CertainTeed (US), Knauf Danoline (Denmark), Saint-Gobain Gyproc (France), and Georgia-Pacific (US) are the key players operating in the GFRG market. These players offer a wide range of GFRG to strengthen their competitive position and cater to the growing demand for GFRG from the building & construction industry.

Increase in the number of construction projects worldwide is projected to drive the Glass Fiber Reinforced Gypsum market

Developed economies across the globe are targeting long-term investments in the building & construction industry. This factor, in turn, is expected to increase the number of construction projects, thereby offering a positive outlook for the GFRG market. The increased spending on infrastructural projects is also contributing to the growth of the GFRG market. The GFRG market is projected to reach USD 3.44 billion by 2023, at a CAGR of 7.0% between 2018 and 2023.

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The GFRG market in the MEA region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the MEA GFRG market can be attributed to the increased demand for GFRG from the building & construction industry in the region.  

Based on type, the Type X segment of the GFRG market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increased demand for Type X GFRG in both residential and non-residential buildings, such as homes, offices, institutes, and hospitals. Type X GFRG have a high noise reduction coefficient, along with the good temperature resistance property, which enhances their acoustic property by absorbing sound or preventing echo. Thus, properties of Type X such as low cost, improved sound absorption capability, good fatigue, temperature resistance, and recyclability have contributed to the increased use of Type x GFRG in green building constructions.  

Based on application, the exterior segment of the GFRG market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the exterior segment can be attributed to the increased use of GFRG as walls and claddings in industrial and non-residential buildings, such as auditoriums, offices, institutes, hospitals, and cinema theaters.

Based on end user, the non-residential segment of the GFRG market is projected to grow at the highest CAGR between 2018 and 2023, in terms of value or volume. Properties of GFRG such as mold & moisture resistance, abuse & impact resistance, and fire resistance make them an ideal material for use in non-residential buildings. As GFRG are good absorbers and attenuator of sound, they are widely used in offices, museums, hospitals, and institutions where sound absorption and aesthetic appeal is a priority.

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Leading Players and their key Strategies in the Glass Fiber Reinforced Gypsum Market

GFRG, also known as GRG, is a multi-layered composite composed of continuous strand fiberglass mats embedded in a high-density matrix made of alpha gypsum cement plaster. GFRG used as panels comprise chopped glass fibers commonly known as Rapidwall/Gypcrete in the construction industry. GFRG can also be used as pre-cast molds that can be customized into a multitude of finishes, textures, and shapes according to the requirement. They are used in interior as well as exterior applications. Interior application of GFRG include lightweight load bearing, cladding, partition walls, ceilings, ceiling coffers, vault, shaft walls, light covings, and others. Exterior applications include compound walls, sidewalls, wall cladding, and load bearing. The end-use industry for GFRG includes residential and non-residential construction industries. The non-residential industry includes religious places, airports, hospitals, gaming, transportation, casinos, educational institutes, etc. The GFRG market is projected to reach USD 3.44 Billion by 2023, at a CAGR of 7.0% from 2018 to 2023.

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Key players operating in the GFRG market work on numerous projects to strengthen their market position.

Formglas (US), one of the leading manufacturers with a strong product portfolio, provides GFRG to numerous projects to build ceilings, domes, walls, columns, and light covers. The company has recently worked on numerous big projects, namely Macedonian Orthodox Church St. Ilija (Canada), Koi Las Vegas (US), Exxon Mobil Corporation (UAE), etc. The company has a well-established brand name and undertaken various projects across the globe.

Major players operating in the GFRG market include Gillespie (UK), USG Corporation (US), Continental Building Products (US), Chiyoda UTE (Tokyo), CertainTeed (US), Knauf Danoline (Denmark), Saint-Gobain Gyproc (France), and Georgia-Pacific (US). These companies have a strong presence in the GFRG market and are continuously undertaking efforts to improve their business strategies and product portfolios.

Gillespie (UK) is one the leading market players who have worked on various projects across the globe. They are known for their product Zerodec GRG, which is majorly used for interior applications. They have worked on numerous projects such as Venetian, Macau (China), Oita Public Library (Japan), Hilton Hotel (Singapore), Hyatt Regency Hotels (Saudi Arabia), Royal Ascot Racecourse (UK), and several such popular buildings built by the company using GFRG. The company has a strong presence in different parts of the globe. Recently, the company has started working on various projects in different parts of the MEA.

Related Reports:

GFRG (Glass Fiber Reinforced Gypsum) Market by Type (Type X, Type C), Application (Interior and Exterior), End User (Residential and Non-Residential), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2023

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