Why Glass Fiber Reinforced Concrete has been a bustPosted by Mrudula Anil Karmarkar on May 28th, 2021 The global glass fiber reinforced concrete market size is expected to reach USD 244.2 million by 2027, expanding at a CAGR of 5.76% from 2020 to 2027, according to a new report by Grand View Research, Inc. The rising demand for non-corrosive materials in the construction industry is projected to propel the demand for glass fiber reinforced concrete (GFRC). Rising use of glass fibers to create fireplace surrounds, façade wall panels, vanity tops, fireplace surrounds, and concrete countertops owing to their unique properties and tensile strength is anticipated to benefit the demand for glass fiber reinforced concrete. In addition, increasing technological advancements in the construction sector are likely to fuel the GFRC market growth. 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 GFRC in various construction applications. Glass fibers reinforced concrete panels are comparatively thinner than the traditionally used concrete panels. In addition, a high dose of glass fibers leads to excellent tensile strength while high polymer content makes the concrete flexible and resistant to cracking. This is anticipated to fuel market growth. 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. Glass Fiber Reinforced Concrete Market Report Highlights
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. The spray process segment led the market and accounted for 61.09% share of the global revenue in 2020 on account of rising demand from the construction industry. The ease in application of the fluid concrete mixture helps in speeding up the process, thereby propelling the segment growth over the forecast period. The spray process makes use of a spray gun to apply the concrete. In addition, the gun cuts and sprays long glass fibers at the same time. The process creates concrete with excellent strength due to the use of high fiber load and the long length of the fiber. However, the high cost of the equipment is projected to limit its demand, thereby restricting the segment growth. Shorter fibers are mixed with concrete and poured in molds or sprayed. The strength of the concrete is comparatively lower than that formed using the spray process due to the short length of the glass fibers. This is anticipated to restrict its demand across residential and commercial construction applications. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450861/ibb The market for glass fiber reinforced concrete is highly competitive with the presence of a large number of multinational players across all the major economies. The companies operate through the manufacturing facilities at multiple locations with the distribution being carried out at several sales locations across the area of operation. Price differentiation forms an important part of the business strategy for the companies operating in the market as the price of the concrete varies in accordance with the price of the raw materials used for manufacturing reinforcing glass fibers. The price of the products manufactured in the market is also affected by the quantity purchased by the consumers. Some of the prominent players in the glass fiber reinforced concrete market include:
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)
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