According to a recent report by Reports and Data, the forecast for the global f Glass Fiber Reinforced Gypsum (GFRG) market indicates that it will reach a value of USD 4.77 Billion by 2028. GFRG is extensively utilized in various construction applications. These applications include columns, moldings, ceilings, light coves, medallions, domes, capitals, fireplace surrounds, and custom shapes. However, GFRG is not suitable for use in fountains and swimming pools due to its vulnerability to moisture. It is primarily considered an architectural material that enhances the decorative quality of its surroundings. Its usage is prevalent in residential, office, and commercial construction projects such as casinos, hotels, and theaters. GFRG is available in different forms, including panels, parts, and powder, with panels being the most commonly used.
GFRG offers several advantages, with its flame-retardant properties being one of the most significant benefits. Due to its mineral composition, gypsum does not burn and can regulate temperature when exposed to flames, providing short-term protection to materials. GFRG is suitable for both exterior and interior building decoration, and the number of applications can vary based on customer requirements.
However, GFRG also has certain drawbacks. Its higher price is attributed to the relatively complex manufacturing process. Additionally, GFRG lacks ductility and is prone to breakage. Its weak weather resistance limits its usage, resulting in a higher preference for GFRG in the interior sections of buildings compared to the exterior sections.
The COVID-19 pandemic has significantly impacted the global Glass Fiber Reinforced Gypsum market. In 2020, the market experienced a substantial decline due to the suspension of both external and internal applications in residential and non-residential sectors, which were major contributors to market demand in 2019. While the industry anticipates a return to near-normal conditions before the end of 2020, the negative demand shock caused by the crisis may persist.
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Some key findings from the report are as follows:
- The Type X segment is projected to remain the largest and most dynamic segment during the forecast period. This material is widely used due to its availability, cost-effectiveness, and high-temperature resistance.
- The interior segment currently leads the market and is expected to grow at a faster pace in the future. GFRG's cost-effectiveness and easy availability contribute to its increased usage in load-bearing walls, partition walls, and other interior applications in both residential and non-residential construction.
- The non-residential construction segment accounted for the largest market share in 2019 and is expected to maintain its dominance in the forecast period. GFRG is extensively used in hospitals, offices, airports, gymnasiums, auditoriums, cinemas, and museums.
- Asia-Pacific is anticipated to witness the most robust growth due to rapid expansion in the construction and transportation sectors. The construction industry's growth in this region presents significant opportunities for GFRG manufacturers to meet the rising demand. The development of public infrastructure, especially in India and China, is expected to positively impact the market's growth.
- Key participants in the market include Saint-Gobain Gyproc, Knauf Danoline, Georgia-Pacific, American Gypsum, Formglas, Chiyoda UTE, Gillespie, Stromberg Architectural, Owens Corning, and National Gypsum Company, among others.
Reports and Data have segmented the global Glass Fiber Reinforced Gypsum market based on Type, Application,
Glass Fiber Reinforced Gypsum Market: Drive factors
Factors Driving the Glass Fiber Reinforced Gypsum Market:
1. Growing Demand in Construction Applications: Glass Fiber Reinforced Gypsum (GFRG) is witnessing increasing demand in the construction industry. It is widely used in various applications such as columns, moldings, ceilings, light coves, medallions, domes, capitals, fireplace surrounds, and custom shapes. The need for decorative and aesthetically appealing architectural elements in residential, office, and commercial constructions is driving the demand for GFRG.
2. Flame-Retardant Properties: GFRG offers the advantage of being flame-retardant. Being a mineral-based material, gypsum does not burn. It acts as a thermal regulator when exposed to flames and provides short-term protection to other materials. This flame-retardant nature makes GFRG a preferred choice for applications that require fire safety.
3. Rapid Growth in Asia-Pacific Construction Sector: The construction industry in the Asia-Pacific region, particularly in countries like China and India, is experiencing rapid growth. This growth is creating substantial opportunities for GFRG manufacturers. The development of public infrastructure projects and the increasing demand for residential and commercial buildings are fueling the demand for GFRG in the region.
4. Increasing Preference for Sustainable and Green Building Materials: As environmental concerns and sustainability become more prominent, there is a growing preference for green building materials. GFRG, being made from natural gypsum and glass fibers, aligns with sustainability objectives. Its eco-friendly characteristics, including low carbon footprint and recyclability, contribute to its increasing adoption in the construction industry.
5. Technological Advancements and Product Innovations: Ongoing technological advancements and product innovations in the manufacturing process of GFRG are driving market growth. Manufacturers are continuously improving the properties of GFRG, such as strength, durability, weather resistance, and installation ease, to meet the evolving needs of the construction industry.
Overall, the increasing demand for decorative architectural elements, the flame-retardant nature of GFRG, versatility in interior decoration, growth in non-residential construction, rapid construction activities in Asia-Pacific, sustainability preferences, and technological advancements are key factors driving the Glass Fiber Reinforced Gypsum market.
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