Glass Fiber Reinforced Gypsum (GFRG) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Snapshot
Glass fiber reinforced gypsum (GFRG) is a composite of high-strength, thin case alpha gypsum reinforced with glass fiber that can be made at the field or can be factory molded if required. They are being increasingly used in the construction industry in drywall/plasterboard trades. The key benefit of using the material is to be able to achieve any share and curves in architectural forms. The giant strides made by the construction industry world over, especially in developing and developed countries, is a key factor underpinning the rapid evolution of the market. GFRG is gaining popularity among architects and designer to achieve modern shapes on ceilings and walls. The rising application in regular building trades by architects is a key factor bolstering the growth of the glass fiber reinforced gypsum market. The growing number of indoor applications is likely to fuel the growth of the market.
In recent years, there has been a perceptible shift toward making minimal usage of composites in the construction projects, which is imparting a robust fillip to the demand for GFRG. The growing inclination of consumers toward green construction projects is a key factor boosting the market. In various developing and developing economies, the growing demand for construction materials that conform to Leadership in Energy and Environmental Design (LEED) green building certification programs is catalyzing the demand for glass fiber reinforced gypsum. The rising uptake of GFRG in modern construction projects for a wide range of architectural applications is a key factor boosting the market. Developed regions are emerging as potentially lucrative markets for glass fiber reinforced gypsum. The growing adoption of post-consumer waste in architectural structures in various parts of the world augurs well for the glass fiber reinforced gypsum market. The rising demand for GFRG as composites for making ornamental or decorative columns, pillars and facades is also accentuating the glass fiber reinforced gypsum market.
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Overview
The GFRG market is foreseen to take advantage of the gypsum’s superior attributes such as moisture resistance, fire resistance, sound absorption, and aesthetic appeal helping to increase application in the construction industry. Aggressively rising construction activities around the globe is anticipated to swell the demand for GFRG in the near term.
There could be different types of GFRG available in the market, viz. types C and X. However, type X is projected to exhibit a higher potential for growth in the coming years. It is researched to offer benefits such as low cost, exceptional temperature resistance, and easy availability, owing to which it could be a common material used in GFRG manufacturing. On the other hand, type X could increase its demand with rising usage of type X gypsum board in a number of construction projects. This is said to be attributed to its impressive range of properties including high strength.
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Trends
GFRG could be mainly adopted by non-residential or commercial and residential end users. Among these end users, the world GFRG market is foretold to witness the rise of the non-residential segment with respect to both volume and revenue. Swelling usage of GFRG in non-residential applications could be one of the factors helping the segment to attain growth in the near future. Auditoriums, museums, movie theaters, gymnasiums, hospitals, institutes, offices, and other commercial buildings may all require the application of GFRG.
Now, there could be two types of GFRG applications, i.e. exterior and interior. On the basis of volume and revenue, interior application is forecasted to rake in stronger demand in the world GFRG market. GFRG could be used in building interiors including partition and loadbearing walls at an economical cost in both non-residential and residential applications.
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Market Potential
On May 1, 2018, USG Corporation publicized the authorization of its Board of Directors given to the management department to begin negotiations with Gebr. Knauf Verwaltungsgesellschaft KG a.k.a. Knauf concerning a potential sale of the firm. USG has informed Knauf that it is ready to settle on a regular confidentiality agreement to allow sharing apt due diligence information. USG has clearly indicated that the negotiation process may or may not result into any transaction, and that no assurance could be given about its timing or outcome.
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Regional Outlook
If both volume and revenue are taken into consideration, Europe could be witnessed as a leading region of the international GFRG market. Growth in this region is prophesied to be largely impacted by the rise of the construction and building industry. Another factor that could enhance growth of the regional market is the presence of some of the prominent names of the industry including Gillespie in the U.K. and Knauf Danoline in Denmark.
Again, in terms of volume and revenue, the international GFRG market could testify the rise of the Middle East and Africa (MEA) as a region flaunting a greater CAGR. Rise of construction activities in the MEA is envisaged to help the region to draw more growth in the market.
Global Glass Fiber Reinforced Gypsum (GFRG) Market: Competitive Landscape
In order to satisfy the demand for GFRG in the lucrative construction and building industry, leading companies of the market are envisioned to offer a broad scope of products. While this could also fortify their position in the market, companies are predicted to focus on developing their product portfolios for gaining a competitive edge over their challengers. Some of the top players of the market are Chiyoda UTE, USG Corporation, and Formglas Holdings Inc.
Global GFRG Market: Type
Global GFRG Market: Application
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