As per the report by Grand View Research Inc., the global Glass Fiber Reinforced Concrete Market estimated at USD 244.2 million by 2027. It is expected to develop by 5.76% CAGR from 2020 to 2027. It is a category of fiber reinforced concrete with a combination of concrete, alkali-resistant glass fiber, sand, cement and water. Generally, it is utilized for the making of piping, architectural recast concrete, attractive non recoverable formwork, and the external façade panels, in the construction business. Glass Fiber Reinforced Concrete is a compound material and is further ideal for the exterior surface work because of its numerous advantages, for example it is a better quality crack resisting material, light in weight, fire resisting, has greater mechanical power and possesses the artistic property.
The increasing demand for the glass fiber in a range of civil, commercial and housing constructions are expected to promote the development of the market for the Glass Fiber Reinforced Concrete. The benefits of the product comprise greater compressive, tensile and flexural strength.
This assists in growing the power of the concrete, thus boosting the demand for the Glass Fiber Reinforced Concrete in the construction of surrounds of the fireplace, countertops and others. Owing to the growing actions of transformation and the modernization in the housing sector, the U.S. market is likely to show greater development within the nearby prospect. Furthermore, growing erection of separate houses is expected to appear as single major factor, powering the demand for the glass fiber reinforced concrete, thus pushing the development of the market within the state.
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The increasing demand for the non corrosive resources, within the construction business, is expected to boost the demand for the glass fiber reinforced concrete. Additionally, growing technical progressions in the construction segment are expected to power the development of the market for glass fiber reinforced concrete.
Further findings from the report suggest:
- Due to the growing infiltration of the glass fiber reinforced concrete in the construction business, the North America seized the main share of revenue, in 2019.
- As a result of large funding by the majority of the governments for the development of the highway, road and the rail infrastructure plus the construction of the housing schemes within the region, the Asia Pacific is expected to grow by the best 6.6% CAGR, in terms of revenue, during the period of forecast.
- In 2019, the spray process section held 61.09 % share of the entire revenue. The easiness in completion of the procedure is expected to promote its requirement.
- As a result of speedy metropolitan development within the nation, China held the major share in Asia Pacific, in 2019.
- The sector of commercial construction application was priced at USD 73.79 million, in 2019. Increasing usage of the product, in commercial structures, assists in controlling the cracks and decreases the permeability of the construction. This is expected to stimulate the development of the sector.
Speedy urban development and growing populace plus the industrial development in the developing nations, are projected to force the governments to augment their spending on the construction, to furnish the growing requirements of the infrastructure. Sequentially, it is expected to impel the demand for the glass fiber reinforced concrete, in a variety of applications in the construction.
The panels, made up of glass fiber reinforced concrete, are fairly thinner as compared to the conventionally used concrete panels. Additionally, greater quantity of fiber glass provides tremendous tensile strength at the same time greater content of polymer creates the concrete crack resistant plus flexible. This is expected to stimulate the development of the market for glass fiber reinforced concrete.
On the other hand, as compared to the steel reinforced concrete (SRC), Glass Fiber Reinforced Concrete (GFRC) possesses smaller ductility. This may perform as the restriction for the extensive acceptance of the glass fiber reinforced concrete.
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The rapidly growing construction industry, increasing technological advancements in the construction sector, and advantages offered by precast concrete such as reduced cost and time and easy installations, are contributing to the growth of the precast concrete market. The use of glass fibers in precast concrete helps in preventing or delaying crack propagation.
Expanding population and rapid urbanization and industrialization in the emerging economies are expected to drive governments to increase their construction spending to cater to the rising infrastructure needs. This, in turn, is projected to drive the demand for glass fiber reinforced concrete in various construction applications.
Product manufacturers are actively involved in the research & development pertaining to the production of glass fibers for reinforcing purposes and are laying increased emphasis on the production of advanced reinforcing glass fiber with varying sizes and properties. This is anticipated to boost product penetration across the construction industry.
Some of the companies for Glass Fiber Reinforced Concrete Market are:
- Generale Prefabbricati S.P.A.
- Stromberg Architectural
- Clark Pacific
- Formglas Products Ltd.
- Bb Fiberbeton
- Betofiber A.S.
- Willis Construction Co. Inc.
- Ultratech Cement Ltd.
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Grand View Research has segmented the global glass fiber reinforced concrete market on the basis of process, application:
Glass Fiber Reinforced Concrete Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Glass Fiber Reinforced Concrete Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Commercial Construction
- Residential Construction
- Civil & Other Infrastructure Construction
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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