GFRG Market Size, Share, Trends, Growth 2032
GFRG Market By Type (Type X and Type C), By Application (Interior and Exterior), and By End-Use (Residential and Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 - 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 3.69 Billion | USD 6.67 Billion | 6.80% | 2023 |
The global GFRG market size was worth around USD 3.69 billion in 2023 and is predicted to grow to around USD 6.67 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.80% between 2024 and 2032.
The study includes the drivers and restraints of the GFRG market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the GFRG market on a global level.
GFRG Market: Growth Drivers
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. In addition, the commercial use of GFRG exerts the maximum influence on the GFRG market development globally. 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. The demand for such a material in the construction and infrastructure sectors is expected to further drive the GFRG market globally.
However, the lack of manufacturing units and factories in developing counties leads to the use of GFRG alternatives in those regions and issues related to GFRG transportation are hampering the GFRG market growth. 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.
Furthermore, the attitude of the government is positive toward GFRG due to its eco-friendly and economical nature. The growing GFRG demand is increasing the number of GFRG manufacturing in the Middle East and Africa and Asia Pacific.
In order to give the users of this report a comprehensive view of the GFRG market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the GFRG market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
GFRG Market: Segmentation
The study provides a decisive view of the GFRG market by segmenting the market based on type, application, end-user, and region.
Based on type, the market includes type X and type C. By application, the market is classified into exterior and interior. By end-use, the GFRG market is divided into commercial and residential.
GFRG Market : Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | GFRG Market Research Report |
| Market Size in 2023 | USD 3.69 Billion |
| Market Forecast in 2032 | USD 6.67 Billion |
| Growth Rate | CAGR of 6.80% |
| Number of Pages | 215 |
| Key Companies Covered | 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. |
| Segments Covered | By Type, By Application, By End-Use and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
GFRG Market: Regional Analysis
The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
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.
GFRG Market: Competitive Analysis
The global GFRG market is dominated by players like:
- 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
- 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
- Middle East and Africa
Table Of Content
Methodology
FrequentlyAsked Questions
GFRG, an abbreviation for Glass Fiber Reinforced Gypsum, is a construction material composed of glass fibers and gypsum plaster. By virtue of this amalgamation, GFRG panels surpass the strength and flexibility of conventional gypsum boards.
The construction industry's ongoing global expansion has generated a growing need for novel building materials, including GFRG, which exhibit characteristics of being lightweight, durable, and cost-effective. GFRG is regarded as an environmentally preferable substitute for conventional construction materials. It is entirely recyclable and composed of recycled materials, which is consistent with the growing emphasis on environmentally sustainable building practices.
The global GFRG market size was worth around USD 3.69 billion in 2023 and is predicted to grow to around USD 6.67 billion by 2032.
The global GFRG market a compound annual growth rate (CAGR) of roughly 6.80% between 2024 and 2032.
The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
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.
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