GFRG (Glass Fiber Reinforced Gypsum) Market Dynamics, Types, Applications And Forecast To 2026

The GFRG (Glass Fiber Reinforced Gypsum) Market is expected to reach USD 4.07 Billion by 2026, according to a new report by Reports and Data. The GFRG (Glass Fiber Reinforced Gypsum) Market is anticipated to show robust growth during the forecast period. The key factors driving the market are the increase in the construction industry, which tend to stimulate the market globally.

Glass fiber reinforced gypsum (GFRG) is a composite of high-strength material, thin case alpha gypsum strengthened with glass fibers that can be factory-made if needed. They are frequently applied in the construction industry in drywall/plasterboard trades. The significant benefit of using the material is to achieve any share and curves in building forms. The enormous strides made by the construction industry world over, particularly in emerging and developed countries, is a fundamental factor underpinning the progressive evolution of the market. GFRG is achieving popularity among architects and designers to produce modern shapes on ceilings and walls. The growing application in regular building trades by architects is an important factor supporting the growth of the glass fiber reinforced gypsum market. The increasing number of indoor applications is expected to fuel the growth of the market.

MEA (Middle East and Africa) is anticipated to grow at the highest rate of 7.9% during the forecast period. This growth can be due to the growing demand for GFRG from the building & construction industry in MEA countries. Leadership undertaken by governments of several MEA countries to support the development of smart cities are also adding to the growth of the GFRG market in the MEA region.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/gfrg-glass-fiber-reinforced-gypsum-market

Further key findings from the report suggest

• The GFRG (Glass Fiber Reinforced Gypsum) Market is estimated to reach USD 4.07 Billion by 2026, at a CAGR of 6.7% during the forecast period.
• The thriving construction industry is a vital factor in driving the global GFRG market. GFRG products are extensively used in the construction industry as loadbearing walls, panels, partition walls, ceilings, and in other uses.
• The type x material accounts for the largest share of 33.8% of the market in 2018.
• Type X is utilized in both residential and commercial buildings, such as hospitals, schools, and retail centers. Type X is cost-effective as well as quick to establish and maintain good temperature endurance. These also have a low carbon footprint and is recyclable. The growing adoption of Type X gypsum board in non-residential construction projects is anticipated to stimulate the Type X segment of the GFRG market. 
• The interior application segment is anticipated to grow at a higher rate of 7.0% during the forecast period.
• The non-residential end user is anticipated to grow at a higher rate of 7.0% during the forecast period.
• Europe accounts for the largest share of 26.2% of the market in 2018. Hence the organizations are funding in promoting such eco-friendly materials. The presence of various key players like Knauf Danoline, and Gillespie, among others in this region are anticipated to benefit the growth of the market in the upcoming years. The Growing construction industry is also expected to boost the market.
• Various players are developing strategies to mark their presence in the industry.
• Georgia Pacific invested USD 4.5 million in November 2018, in installing a new 30,000 square foot warehouse, a current state of the art laminating line. Furthermore, Georgia Pacific started a new USD 100 million facilities in Alabama, concentrating on providing long term value to the customers, workers, and the company.
• The Key players in the GFRG (Glass Fiber Reinforced Gypsum) Market include Saint-Gobain Gyproc, Continental Building Products, USG Corporation, National Gypsum Company, Formglas Products Ltd., CertainTeed, American Gypsum, GC Products Inc, Plasterform, Knauf Danoline, Georgia-Pacific, USG Corporation; and FACT - RCF Building Products Ltd (FRBL).