Global Glass Fiber Reinforced Concrete (GFRC) Market 2018-2023
DUBLIN, June 14, 2018 /PRNewswire/ --
The "Glass Fiber Reinforced Concrete (GFRC) Market by Process (Spray, Premix, and Hybrid), Application (Commercial construction, Residential Construction and Civil & Other Infrastructure Construction), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The GFRC market is estimated at USD 2.01 Billion in 2018 and is projected to reach USD 3.32 Billion by 2023, at a CAGR of 10.5% between 2018 and 2023.
The growth of the GFRC market can be attributed to the increasing use of GFRC in construction activities, owing to its exceptional properties, such as aesthetic appeal, sound absorption, fire resistance, moisture resistance, and rapid construction.
The GFRC market has been segmented on the basis of process, application, and region. Based on process, the GFRC market has been classified into spray, premix, and hybrid. The hybrid process segment of the GFRC market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The hybrid process is an emerging and advanced technology used for the production of GFRC. This process is expected to lower the labor input, thereby decreasing production cost. Thus, the demand for the hybrid process based GFRC is projected to increase considerably during the forecast period.
Based on application, the GFRC market has been segmented into residential construction, commercial construction, and civil & other infrastructure construction. The commercial construction application is projected to lead the GFRC market during the forecast period, in terms of value and volume. The growth of the commercial construction application can be attributed to the increasing use of GFRC in buildings, such as offices, institutes, hospitals, gymnasiums, cinema theatres, museums, and auditoriums.
North America is estimated to be the largest market for GFRC, in terms of value in 2018. The growth of the GFRC market in North America can be attributed to the presence of leading GFRC manufacturers, such as Formglas Products Ltd. (Canada), Stromberg Architectural (US), Clark Pacific (US), Willis Construction Co., Inc. (US), and the growth of the building & construction industry in the region. The GFRC market in the APAC is projected to grow at the highest CAGR from 2018 to 2023, in terms of volume and value, owing to the increase in the number of construction activities in this region.
Economic downturns in major regions can act as a key restraint for the growth of the GFRC market.
Ultratech Cement Ltd. (India), Formglas Products Ltd. (Canada), Willis Construction Co., Inc. (US), Clark Pacific (US), Loveld (Belgium), Fibrex (UAE), Betofiber A.S. (Turkey), Nanjing Beilida New Material System Engineering Co., Ltd. (China), Stromberg Architectural (US), and BB Fiberbeton (Denmark) are the key players in the GFRC market. These players offer a wide range of GFRC products to strengthen their competitive positions and cater to the growing demand for GFRC from the building & construction industry.
Formglas Products Ltd. (Canada) is a major player in the GFRC market. The company is focused on expanding its product portfolio and gaining a competitive edge over other players in the GFRC market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the GFRC Market
4.2 GFRC Market, By Process
4.3 GFRC Market, By Application and Region
4.4 GFRC Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reduced Construction Time and Cost
5.2.1.2 Upsurge in Demand for Corrosion-Resistant Materials
5.2.2 Restraints
5.2.2.1 Economic Downturn in Major Regions
5.2.3 Opportunities
5.2.3.1 Rise in New Construction Projects in Emerging Economies Such as China and India
5.2.4 Challenges
5.2.4.1 High Production and Labor Cost
5.2.4.2 Lack of Awareness About Precast Concrete Method Among End Users
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends and Forecast of the Construction Industry
7 GFRC Market, By Process
7.1 Introduction
7.2 Spray
7.3 Premix
7.4 Hybrid
8 GFRC Market, By Application
8.1 Introduction
8.2 Commercial Construction
8.2.1 Institutions
8.2.2 Hospitals
8.2.3 Offices
8.2.4 Airports
8.2.5 Others
8.3 Residential Construction
8.4 Civil & Other Infrastructure Construction
8.4.1 Bridges/ Highways/ Tunnels/ Railways
8.4.2 Defense
9 GFRC Market, By Region
10 Company Profiles
- Ultratech Cement Ltd.
- Formglas Products Ltd.
- Willis Construction Co. Inc.
- Clark Pacific
- Loveld
- Fibrex
- Betofiber A.S.
- Stromberg Architectural
- Bb Fiberbeton
- Nanjing Beilida New Material System Engineering Co., Ltd.
- Generale Prefabbricati S.P.A.
- Bcm Grc Limited
- Arabian Tile Company Ltd.
- Quattro Design Solutions
- Glass Reinforced Concrete UK Ltd
For more information about this report visit https://www.researchandmarkets.com/research/t9dbpb/global_glass?w=5
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