What is Global Glass-Fiber Reinforced Gypsum Market?
The Global Glass-Fiber Reinforced Gypsum (GFRG) Market is a vast and dynamic sector that deals with the production, distribution, and consumption of GFRG products. GFRG, also known as glass-reinforced gypsum, is a composite material made of gypsum plaster, reinforced with glass fibers, used in architectural designs for interior applications. This material is known for its lightweight, strength, and versatility, making it an ideal choice for various construction and architectural projects. The global market for GFRG is driven by its increasing demand in the construction industry due to its superior properties such as fire resistance, sound absorption, and aesthetic appeal. However, the market also faces challenges such as high production cost and limited awareness about the product among end-users. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing demand for sustainable and energy-efficient construction materials.
GFRG Board, GFRG Products in the Global Glass-Fiber Reinforced Gypsum Market:
GFRG boards and products are the key offerings in the Global Glass-Fiber Reinforced Gypsum Market. GFRG boards are essentially panels made from a mixture of gypsum plaster and glass fibers. They are widely used in the construction industry due to their lightweight, strength, and ease of installation. These boards are also known for their fire resistance, sound absorption, and aesthetic appeal, making them an ideal choice for various interior applications. On the other hand, GFRG products refer to a wide range of items made from GFRG, including columns, domes, ceilings, and wall panels. These products are used in various sectors, including residential, commercial, and industrial, due to their versatility and superior properties. The demand for these products is expected to increase in the coming years due to the growing construction industry and the increasing preference for sustainable and energy-efficient materials.
Casino and Entertainment Center, Large Hotel, Large Public Buildings, Others in the Global Glass-Fiber Reinforced Gypsum Market:
The Global Glass-Fiber Reinforced Gypsum Market finds extensive usage in various areas such as casinos and entertainment centers, large hotels, large public buildings, and others. In casinos and entertainment centers, GFRG is used to create intricate designs and patterns on walls and ceilings, enhancing the aesthetic appeal of these places. In large hotels, GFRG is used in the construction of interior walls, ceilings, and decorative elements, providing a luxurious and elegant look. In large public buildings, GFRG is used due to its fire resistance and sound absorption properties, ensuring the safety and comfort of the occupants. Other applications of GFRG include residential buildings, commercial buildings, and industrial facilities, where it is used for its lightweight, strength, and versatility.
Global Glass-Fiber Reinforced Gypsum Market Outlook:
The global Glass-Fiber Reinforced Gypsum market, valued at US$ 837.9 million in 2022, is projected to reach US$ 1160 million by 2029. This growth, representing a Compound Annual Growth Rate (CAGR) of 4.7% from 2023 to 2029, is driven by the increasing demand for GFRG in the construction industry. The market is dominated by leading GFRG companies such as Saint-Gobain, Formglas, Stromberg Architectural, Knauf Group, Owens Corning, Georgia-Pacific Gypsum, and GRG Technologies, which collectively hold about 45% of the market shares. The largest consumer of GFRG is the USA, accounting for 35% of the market share consumption. Other significant consumers include China and Europe, accounting for 20% and 15% of the market share consumption, respectively. These figures indicate the widespread acceptance and usage of GFRG across various regions and sectors, highlighting its importance in the global construction industry.
| Report Metric | Details |
| Report Name | Glass-Fiber Reinforced Gypsum Market |
| Accounted market size in 2022 | US$ 837.9 million |
| Forecasted market size in 2029 | US$ 1160 million |
| CAGR | 4.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Saint-Gobain, Formglas, Stromberg Architectural, Knauf Group, Owens Corning, Georgia-Pacific Gypsum, GRG Technologies, Guangzhou Form New Materials, Shanghai Yinqiao Decoration, Yinhu, Plasterceil Industries, Continental Building Products, CHIYODA UTE, Guangzhou City Ping Mei Building Materials, USG, Guheng Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
