Global GFRG Market Is Expected To Reach Around USD 4.21 Billion By 2026

07-Jun-2019 | Zion Market Research

Zion Market Research has published a new report titled “GFRG Market by Type (Type X and Type C), by Application (Interior and Exterior), and by End-Use (Residential and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global GFRG market was approximately USD 2.45 billion in 2018 and is expected to generate around USD 4.21 billion by 2026, at a CAGR of around 7% between 2019 and 2026.

Glass fiber reinforced gypsum or GFRG is a mix of gypsum, sand, and Portland cement. It mainly contains glass fiber reinforcement and ultra-fine alpha plaster. GFRG can be cast into virtually any shape and size. The material is extremely strong and lightweight, as it requires little to no additional structural support apart from being painted in any color. The rapid growth of the construction and infrastructure sectors is a major factor driving the global GFRG market growth. GFRG can be used for residential and non-residential uses. The construction sector generally demands materials that have good absorption capabilities, high temperature-resistance, quick installation capabilities, and environment-friendly in nature. These features are present in GFRG, which makes it one of the most widely used materials in the construction sector. Alternatively, GFRG’s low product cost and lightweight is making it popular in countries prone to natural calamities like Japan, China, and the U.S., among other coastal countries.

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Global GFRG Market

On the basis of type, the market is divided into Type X and Type C. Type X dominated the GFRG market globally in terms of both value and volume in 2018, due to its extensive use in the commercial sector.

On the basis of application, the market is divided into interior and exterior. The interior segment led the global market in terms of both value and volume in 2018. This can be attributed to GFRG’s ability to mold into any shape or size. It is popularly used to make partitions and load-bearing walls, as they are economical compared to other alternatives available.

By end-use, the GFRG market is divided into commercial and residential. The commercial segment is likely to lead throughout the forecasted timeframe, both in terms of volume and value. There are substantial developments in process in the commercial sector, which is expected to fuel this segment in the future. The commercial use of GFRG includes institutes, hospitals, offices, airports, etc.

Geographically, the Middle Eastern and African GFRG market is likely to generate the highest revenue throughout the forecast time period. This high revenue contribution can be attributed to the ongoing infrastructural developments and rising number of major projects across the region.

Some major players of the global GFRG market are CertainTeed, Saint-Gobain, Continental Building Products, USG Corporation, Knauf Danoline, Georgia-Pacific, National Gypsum Company, Yingchuang Building Technique, FACT - RCF Building Products, American Gypsum, Formglas Products, Gillespie, Shanghai Chuncui Decoration Material, Stromberg Architectural, Rapidwall, Plasterceil Industries, Chiyoda UTE, Owens Corning, Horizons Industrial Development, Intexforms, Fibrex, and GC Products.

This report segments the global GFRG market into:

Global GFRG Market: By Type

  • Type X
  • Type C

Global GFRG Market: By Application

  • Interior
  • Exterior

Global GFRG Market: By End-Use

  • Residential
  • Commercial

Global GFRG Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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