Global GFRG (Glass Fiber Reinforced Gypsum) Market : Industry Size, Share, Analysis, Trend & Future Planning 2023
Bharat Book Bureau Provides the Trending Market Research Report on“Global GFRG (Glass Fiber Reinforced Gypsum) Market, Forecast to 2023” underHeavy Industry category. The report provides information on industry overview, market size, latest developments, industry trends,Companies Profile, global presence, and their future prospects.
GFRG market is projected to grow at aCAGR of 7.0% from 2018 to 2023, in terms of value
The GFRG market is estimated to be USD 2.45 billion in 2018 and is projected to reachUSD 3.44 billion by 2023, at a CAGR of 7.0% between 2018 and 2023. The increasing demand for GFRG in building & construction projects is one of the most significant factors projected to drive the GFRG market. Superior properties of GFRG such as sound absorption capability, good fatigue, temperature resistance, rapid installation, and recyclability are also contributing to the growth of the GFRG market. However, the difficulty in transportation and building high-raised buildings, in turn, are restraining the growth of the GFRG market.
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Based on type, the Type X segment is projected to lead the GFRG market during the forecast period, in terms of value and volume
Type X is used in both residential and commercial buildings, such as schools, hospitals, and retail centers. Type X is cost-effective as well as fast to install and maintain good temperature tolerance. These are also recyclable and have a low carbon footprint. The increasing adoption of Type X gypsum board in non-residential construction projects is expected to drive the Type X segment of the GFRG market.
The non-residential end user segment of the GFRG market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume
GFRG manufacturers are increasingly focusing on the development of GFRG for non-residential buildings, such as offices, institutes, hospitals, gymnasiums, cinema theaters, retail stores, auditoriums, and museums. The increasing demand for high fatigue resistance and good temperature resistance building materials from the non-residential construction sector is projected to drive the non-residential end user segment of the market.
The GFRG market in the MEA region is projected to grow at the highest CAGR between 2018 and 2023, in terms of value and volume
The GFRG market in the MEA region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increasing demand for GFRG from the building & construction industry in MEA countries. Initiatives undertaken by governments of various MEA countries to promote the development of smart cities are also contributing to the growth of the GFRG market in the MEA region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
- By Company Type- Tier 1 - 10%, Tier 2 - 25%, and Tier 3 - 65%
- By Designation- C level - 10%, Director level - 30%, and Others - 60%
- By Region- Asia Pacific - 45%, North America - 20%, Europe - 15%, South America - 11%, and Middle East & Africa - 9%
This report provides a comprehensive analysis of key companies listed below:
- USG Corporation (US)
- CertainTeed (US)
- Saint-Gobain Gyproc (France)
- Knauf Danoline (Denmark)
- Georgia-Pacific (US)
- American Gypsum (US)
- Formglas (Canada)
- Continental Building Products (US)
- Chiyoda UTE (Tokyo)
- Gillespie (UK)
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