Europe is estimated to be the largest market for GFRG (Glass Fiber Reinforced Gypsum) Market

GFRG (Glass Fiber Reinforced Gypsum), 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(Glass Fiber Reinforced Gypsum) market is projected to reach USD 3.44 Billion by 2023, at a CAGR of 7.0%.

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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. Additionally, the increase in the number of residential and non-residential construction activities in various European countries is contributing to the growth of the Europe GFRG market.

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.

Knauf Danoline (Denmark) is a major player in the GFRG market. The company is focused on expanding its product portfolio and gaining a competitive edge over other players in the GFRG market.

GFRG has good strength, good temperature resistance, and ease of rapid construction. However, the requirement of all the properties, such as high strength and good temperature resistance in building products increases their need in the construction industry. Hence, the increase of construction projects is one of the most significant factors projected to drive the GFRG market.

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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.