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The global market for glass fibre reinforced concrete (GFRC) reached a value of USD 3.32 billion in 2023. The global glass fibre reinforced concrete (GFRC) market is expected to grow at a CAGR of 10% in the forecast period of 2024-2032, reaching a value of USD 7.83 billion by 2032.
Based on type, the sprayed segment accounts for a considerable share in the market, as sprayed GFRC bolsters construction activities by speeding up the pre- and post-construction processes. Sprayed GFRC increases bond-strength, reduces the construction time and money, and is highly efficient and precise.
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Over the forecast period, the growing expansion of sprayed concrete association (SCA) is likely to propel the demand for sprayed GFRC in a wide variety of new constructions, underground constructions, strengthening and repair of structures, slop stabilisation, and water retaining structure construction. The segment’s growth will further be aided by the thriving construction industry in the emerging economies of the world.
The glass fibre reinforced concrete (GFRC) market in North America is driven by the rising demand for the product in the residential, commercial, and industrial construction sector, rising immigration, and increasing disposable income. The market is anticipated to be augmented by the expanding healthcare infrastructure in the United States and Canada. The rapid development of restaurants, resorts, hotels, and pubs, owing to the thriving travel and tourism industry in the region, is likely to boost the demand for GFRC in the forecast period.
Glass fibre reinforced concrete (GFRC) is defined as a specialised form of concrete which contains fibrous materials, with combinations of cement, polymers, glass fibres, fine aggregates, and chemical admixtures. GFRC has considerably high tensile strength and high impact resistance.
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Based on type, the market is segmented into:
The significant applications of the glass fibre reinforced concrete (GFRC) include:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The global glass fibre reinforced concrete (GFRC) market is driven by the rising applications of the product in the defence industry. This can be attributed to the growing investments towards constructing military headquarters owing to the geopolitical tensions between emerging economies.
Across the span of the forecast period, the rising demand for housing, recreational, and medical facilities for military bases is likely to propel the GFRC market. The market is anticipated to be aided by the growing demand for the product from the educational sector, owing to the rising investments aimed towards building schools and colleges.
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The report gives a detailed analysis of the following key players in the global market for glass fibre reinforced concrete, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for glass fibre reinforced concrete (GFRC) attained a volume of nearly USD 3.32 billion.
The market is estimated to grow at a CAGR of 10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of USD 7.83 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, among which, North America dominates the market.
The major drivers of the market include the rising applications of the product in the construction, defence, and education sectors, coupled with the rising population and disposable income.
The changing preference of manufacturers towards (GFRC) as an efficient and strong alternative to steel reinforcements, is expected to be a key trend guiding the growth of the industry.
Sprayed, premix, and hybrids are the major types of GFRC products.
Architecture, engineering, and defence, among others, are the different applications in the market.
The major players in the glass fibre reinforced concrete (GFRC) market are BarChip Pty Ltd., Chiltern GRC Ltd, Formglas Products Ltd, Pennine Stone Ltd, and Betofibre Yapi Elemanlari, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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