Glass Fiber Reinforced Concrete (GFRC) Market Size (2024 - 2029)

The glass fiber reinforced concrete market is anticipated to experience growth despite challenges posed by the COVID-19 pandemic, which has impacted the construction industry and subsequently the demand for GFRC. The market's expansion is supported by a growing focus on green building initiatives, the material's superior mechanical properties, and the incorporation of recycled materials in its production. However, factors such as the high cost of GFRC, limited ductility, and a shortage of skilled labor may impede its growth. Opportunities for market development are present in the increased use of fire-retardant materials and the rising popularity of GFRC structural insulated panels.

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Market Size of Glass Fiber Reinforced Concrete (GFRC) Industry

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glass fiber reinforced concrete market overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 9.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

glass fiber reinforced concrete market major players

*Disclaimer: Major Players sorted in no particular order

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Glass Fiber Reinforced Concrete (GFRC) Market Analysis

The glass fiber reinforced concrete (GFRC) market is projected to register a CAGR of over 9% during the forecast period (2022 - 2027).

The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in various industries, including a major impact on the construction industry, which may affect the glass fiber reinforced concrete market. Work interruptions due to lockdown measures imposed by governmental authorities negatively affected the commercial, residential, infrastructural, and institutional sectors, decreasing the demand for glass fiber reinforced concrete. Such lower demand from the commercial and residential construction sectors is expected to hinder the demand for GFRC during the short term.

Over the short term, the increased emphasis on green buildings (LEED ratings), superior mechanical characteristics of GFRC (high strength-to-weight ratio), and the use of recycled material for the production of GFRC are expected to drive the market's growth.

Premium pricing of GFRC, lack of ductility, and the lack of availability of skilled labor are expected to hinder the growth of the market.

Emphasis on using fire-retardant building materials and the growing popularity of GFRC structural insulated panels are likely to act as opportunities for the market during the forecast period (2022 - 2027).

Glass Fiber Reinforced Concrete (GFRC) Industry Segmentation

The glass fiber reinforced concrete (GFRC) market is segmented by type, application, and geography. By type, the market is segmented into sprayed, premix, and hybrids. By application, the market is segmented into architecture, engineering, defense, and other applications. The report also covers the market sizes of and forecasts for the glass fiber reinforced concrete (GFRC) market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Sprayed
Premix
Hybrids
Application
Architecture
Cladding and Moldings
Landscaping
Foundations and Floors
Roofing
Walls and Windows
Engineering
Permanent Formwork
Utilities and Water Management
Bridges and Tunnels
Defense
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Glass Fiber Reinforced Concrete (GFRC) Market Size Summary

The glass fiber reinforced concrete (GFRC) market is anticipated to experience significant growth over the forecast period, driven by the increasing emphasis on sustainable construction practices and the material's superior mechanical properties. GFRC is gaining traction due to its high strength-to-weight ratio and the incorporation of recycled materials, aligning with the growing demand for green buildings with LEED ratings. Despite challenges such as premium pricing, limited ductility, and a shortage of skilled labor, the market is poised for expansion. Opportunities are emerging from the use of fire-retardant building materials and the rising popularity of GFRC structural insulated panels, which are ideal for applications like recladding building facades and constructing load-bearing floor slabs.

The North American region, particularly the United States and Canada, is expected to lead the GFRC market, supported by substantial investments in infrastructure and construction projects. The U.S. plans significant investments in various sectors, which are likely to bolster the demand for GFRC. Meanwhile, Canada's construction industry, despite facing challenges like rising raw material costs and labor shortages, remains a crucial contributor to the economy. The fragmented nature of the GFRC market includes key players such as Low & Bonar, BarChip Pty Ltd, GRCUK, FİBROBETON, and Formglas Products Ltd, who are instrumental in shaping the market dynamics. Overall, the GFRC market is set to benefit from the recovery of the construction industry post-COVID-19, with North America maintaining a dominant position.

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Glass Fiber Reinforced Concrete (GFRC) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increased Emphasis on Green Buildings (LEED Ratings)

      2. 1.1.2 Superior Mechanical Characteristics (High Strength-to-Weight Ratio)

      3. 1.1.3 Use of Recycled Material for Production

    2. 1.2 Restraints

      1. 1.2.1 Lack of Ductility

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Sprayed

      2. 2.1.2 Premix

      3. 2.1.3 Hybrids

    2. 2.2 Application

      1. 2.2.1 Architecture

        1. 2.2.1.1 Cladding and Moldings

        2. 2.2.1.2 Landscaping

        3. 2.2.1.3 Foundations and Floors

        4. 2.2.1.4 Roofing

        5. 2.2.1.5 Walls and Windows

      2. 2.2.2 Engineering

        1. 2.2.2.1 Permanent Formwork

        2. 2.2.2.2 Utilities and Water Management

        3. 2.2.2.3 Bridges and Tunnels

      3. 2.2.3 Defense

      4. 2.2.4 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Glass Fiber Reinforced Concrete (GFRC) Market Size FAQs

The Glass Fiber Reinforced Concrete (GFRC) Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Low & Bonar, BarChip Pty Ltd, GRCUK, FİBROBETON and Formglas Products Ltd are the major companies operating in the Glass Fiber Reinforced Concrete (GFRC) Market.

Glass Fiber Reinforced Concrete (GFRC) Market Report Snapshots

Glass Fiber Reinforced Concrete Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)