Glass Fiber Reinforced Gypsum (GFRG) also called as Rapidwall is a reinforced gypsum product that has high strength and light weight for interior projects. It is an eco-friendly material manufactured from either natural or industrial gypsum. It consists of high strength resistant glass fibers that are bonded with high density gypsum to produce panels. GFRG is lighter than traditional gypsum yet it is a strong material and can be molded to better details and can be cast to virtually any shape. It is also used for aesthetic projects. GFRG can be used for both interior and exterior walls. It is the best alternative to construction material like bricks and alternate products. It is usually used in mass scale buildings is a quick solution for affordable and mass housing.
The limited supply of gypsum leads to high prices which can act as a restraint for the market. Also, the presence of very few manufacturing plants in developing countries and issues faced by them such as the difficulty in handling, stacking and transportation are expected to hamper the growth of the market. The high cost for the set-up of these manufacturing plants is a challenge to the market.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the glass fiber reinforced gypsum in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the glass fiber reinforced gypsum market.
Top Impacting Factors
The growing numbers of construction projects in developed and emerging economies which will help impact the fiber reinforced gypsum market growth in the forecast period. The rapid construction activities, high adoption due to ease of installation, shifting inclination for high-quality material, rising need for eco-friendly and cost-effective construction products are also expected to enhance the market growth. On the other hand, high requirement in natural calamity zones along with government regulations on building products in emerging countries will further nurture various opportunities that will lead to the growth of market in the future.
Market trends
- The non-residential end user segment of the GFRG market is projected to grow at the highest rate during the forecast period, in terms of value and volume.
- GFRG manufacturers are increasingly focusing on the development of GFRG for non-residential buildings, such as offices, institutes, hospitals, gymnasiums, cinema theaters, retail stores, auditoriums, and museums. The increasing demand for high fatigue resistance and good temperature resistance building materials from the non-residential construction sector is projected to drive the non-residential end user segment of the market.
- Growing urbanization and industrialization in developing economies has led to the increased demand and market growth.
- The Glass fiber reinforced gypsum market has witnessed high adoption of glass fiber reinforced gypsum panels filled with reinforced concrete to cater to rising housing needs in Asia, especially India. Requirement for rapid techniques for timely delivery of the construction projects and demand for alternative cost-effective and sustainable construction materials is expected to further drive the product demand. Rise of GFRG building system, which is a rapid building technology preferred for construction of wall panels to cater to increasing demand for construction of affordable mass housing is projected to have a positive impact on the market growth.
- Increased awareness regarding features and aesthetic view of the buildings has also bolstered the market growth.
- Increasing awareness regarding superior thermal and acoustical insulation properties of glass fiber reinforced gypsum is expected to drive its demand in the commercial building including hospitals, educational institutes as well as in residential buildings. In addition, increasing preference for materials with aesthetic appeal for commercial construction is projected to aid the Glass fiber reinforced gypsum market growth.
Key Benefits of the Report
- This study presents the analytical depiction of the glass fiber reinforced gypsum industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the glass fiber reinforced gypsum market share.
- The current market is quantitatively analyzed to highlight glass fiber reinforced gypsum market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed glass fiber reinforced gypsum market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Glass Fiber Reinforced Gypsum Market Report
- Who are the leading market players active in the Glass Fiber Reinforced Gypsum market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Glass Fiber Reinforced Gypsum”?
- What does "Glass Fiber Reinforced Gypsum" allow organizations to achieve?
- Which technologies combine to make “Glass Fiber Reinforced Gypsum “a critical organizational asset?
- What is "Glass Fiber Reinforced Gypsum” Market prediction in the future?
- Who are the leading global players in the “Glass Fiber Reinforced Gypsum” market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Glass Fiber Reinforced Gypsum” Market?
- What are the key benefits of the “Glass Fiber Reinforced Gypsum “Market report?
- What will be the anticipated growth rates for your own Glass Fiber Reinforced Gypsum Market economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Key Market Segments
- By Type
- By Application
- By Key Market Players
- CertainTeed, and Saint Gobain Gyproc
- Continental Building Products
- USG Corporation
- Knauf Danoline A/S
- Georgia-Pacific LLC, National Gypsum Company
- Yingchuang Building Technique Co. Ltd.
- American Gypsum Co. LLC
- Formglas Products Ltd.
- By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BYU Shelters
- CertainTeed
- Knauf
- Georgia-Pacific
- YOSHINO GYPSUM CO., LTD.
- Saint-Gobain
- J.G. Balfour
- National Gypsum Company
- Telling Industries
- USG Corporation