Update News: Increasing Construction Of Green Buildings Is Drving The Demand For Glass Fiber Reinforced Concrete Market

Global Glass Fiber Reinforced Concrete Market: Key Highlights

• According to the new market research report “ Glass Fiber Reinforced Concrete Market by Production Method (Premix GRC, Sprayed GRC and Others), by Application (Residential Infrastructure, Commercial Infrastructure and Public Infrastructure), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global glass fiber reinforced concrete market is estimated to reach USD 4.80 Billion by 2027 at a CAGR of over 10.0% in the study period.
• Rise in the global construction activities owing to growing global population, creating higher demand for residential and commercial infrastructure, is driving the demand for GRFC
• Advantages such as higher durability, crack resistance, compressive, flexural and tensile strength associated with GRFC over conventional concrete, is fueling its adoption across construction sector
• High cost of GRFC over the conventional concrete is expected to hinder the market growth

Global Glass Fiber Reinforced Concrete Market: Key Market Dynamics

• The growth of this market can be mainly attributed to the growing construction activities across the globe owing to ongoing industrialization, growing global population, rapid industrialization and shifting preference towards nuclear families
• Advantages such as higher durability, better textile and flexural strength with crack resistance among others are further fueling the demand for GRFC
• High cost of acrylic copolymer and reinforcement of fiberglass and other additives escalates the overall cost of GRFC, which is presumed to hamper the market growth
• With emergence of new technologies for production of GRFC is expected to create new opportunities for the market growth
• Low ductility of the GRFC is acting as major challenge for the market growth

Global Glass Fiber Reinforced Concrete Market: Regional Overview

• Asia-Pacific

Asia-Pacific GRFC market is growing on the grounds of rising population in the countries such as China and India. Rise in disposable income, increasing industrialization, ongoing urbanization with shifting preference towards nuclear families is a contributing factor towards the construction sector in Asia-Pacific. China’s construction sector is expected to grow owing to increasing industrial & large scale infrastructure construction activities along with favorable government support, is fueling the growth of construction sector.

• North America

In North America, the construction sector is experiencing growth mainly due to rise in construction activities in US and Canada. Construction is the one among the prominent sector driving the US economy despite of labor shortage. Rise in construction of private and public housing in US along with favorable governmental support by increasing investments in government infrastructure, renewable energy generation infrastructure, and commercial projects is boosting the construction sector across the countries. Increasing efforts to construct new residential and commercial building owing to ongoing urbanization in Canada, is pushing the construction growth higher. Due to the growth of overall construction sector, the GFRC market is expected to boom in the years to follow.

Global Glass Fiber Reinforced Concrete Market: Key Players Overview

• Lindner Group:

Linder Group is the engineering and construction company with its global headquarters at Germany. The company manufactures premium grade GRFC through production by spray method. The company offers GFRC under the name: LinCrete used across the recreation and culture, public areas, transport, public institutions, hotels and gastronomy.

• Willis Construction Co. Inc.:

Willis Construction Co. Inc. is the US based company that engages through manufacturing and installing Architectural Precast Concrete, GRFC, thinshell, structural precast components. The company offers GRFC reinforced with alkali resistant glass fibers and can be modulated in the ornate shapes for the decorative building. The company provides precast for range of application areas including commercial office, residential housing, parking, hospital care, sports stadiums.

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