New York, NY -- (SBWIRE) -- 11/26/2020 -- Glass Fiber Reinforced Gypsum Market: An Overview

According to a new report by Reports and Data, the global Glass Fiber Reinforced Gypsum (GFRG) market is forecast to reach USD 4.41 Billion by 2027. GFRG is commonly used in construction applications of columns, ceiling, moldings, light coves, domes, medallions, capitals, fireplace surrounds, and custom shapes. Instances of applications where the GFRG cannot be used include fountains and swimming pools because of its susceptibility to moisture. Glass fiber reinforced gypsum is an architectural material that can be used to improve the decorative quality of constructions. Construction applications for GFRG include office construction, residential construction, and commercial construction, such as hotels, casinos, and theaters. GFRG is available in several forms, such as panels, parts, or as a powder. GFRG panels are considered to be the most widely used form of the product.

Glass fiber reinforced gypsum is a gypsum composite that is reinforced with glass fibers. Gypsum is a fundamental raw material, the availability of which has a significant impact on the GFRG market. A limited supply of gypsum results in higher product prices, and affects the manufacturer's profitability, which will, therefore, hurt the overall growth.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1772

Glass Fiber Reinforced Gypsum Market: Key Players

Saint-Gobain Gyproc
Knauf Danoline
Georgia-Pacific
American Gypsum
Formglas
Chiyoda UTE
Gillespie
Stromberg Architectural
Owens Corning
National Gypsum Company

Type Outlook (Revenue, USD Billion; 2017-2027)

Type X
Type C
Others

Application Outlook (Revenue, USD Billion; 2017-2027)

External
Internal

End-Use Outlook (Revenue, USD Billion; 2017-2027)

Non-Residential
Residential

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America
S
Europe
K
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1772

GFRG offers several benefits. The most crucial benefit of using glass fiber reinforced gypsum is its flame-retardant quality as it is a mineral and does not burn. It also acts as a thermal regulator when exposed to a flame and protects other materials for a short period. GFRG can be used for both interior and exterior building decoration. The applications in these two cases can vary considerably in quantity and depend on customer requirements.

Glass Fiber Reinforced Gypsum Market Dynamics

Awareness about the excellent thermal and acoustic insulation properties of glass fiber reinforced gypsum will stimulate demand for GFRG in commercial buildings, such as educational institutions, hospitals, and residential buildings. Greater preference for aesthetically appealing commercial construction materials will encourage growth in GFRG market.

The glass fiber reinforced gypsum market has seen wide adoption of GFRG panels filled with reinforced concrete to meet the growing housing demand in Asia, especially in India. The requirement for rapid techniques for the timely delivery of construction projects and the need for cost-effective and sustainable alternative solutions are expected to augment demand for products further. The expansion of the GFRG construction system, which is a favored rapid-construction technology for the building of wall panels in affordable mass housing construction, is anticipated to have a positive impact on market growth.

Glass fiber reinforced gypsum also has certain drawbacks. It is more expensive due to the relative complexity of its manufacturing process. The high installation and machinery cost, as well as the need for a highly skilled workforce, can dissuade new entrants to the industry. The GFRG also lacks ductility and is therefore more prone to breakage. Its less than adequate weather resistance can also create problems that can potentially lead to higher use of GFRG in the interior section of a building, compared to the exterior section of the building.

The GFRG industry is controlled mainly by the cost of raw materials and is primarily capital-intensive. Also, GFRG manufacturers may experience difficulties in establishing their business, due to the presence of plenty of suppliers across the world, which leads to low switching costs. Such factors can act as hindrances to the expansion of the GFRG industry.

Glass Fiber Reinforced Gypsum Market: Regional Outlook

Asia-Pacific region is expected to register the most robust growth over the forecast period owing to rapid growth in the construction and transportation sectors. The expansion of the construction industry in Asia-Pacific offers significant opportunities for GFRG manufacturers to garner profits. The expansion of public infrastructure, especially in India and China, should positively impact the glass fiber reinforced gypsum market trends in the coming years.

The industry in the South America region is anticipated to register the highest CAGR over the forecast period. This growth is due to the swelling demand for GFRG in the building and construction industry in countries in South America. Initiatives undertaken by governments of various countries to promote smart city developments are also contributing to the growth of the GFRG market in the region.

The COVID-19 Impact on Glass Fiber Reinforced Gypsum Market:

The COVID-19 pandemic is expected to have a massive negative impact on the global glass fiber reinforced gypsum market in 2020, the reason being the halt in external and internal applications in both residential and non-residential construction and end-uses of the product, these end use applications had been responsible for the growth in market share in 2019. Also, production shutdowns and supply chain disruptions have resulted in a downgraded outlook in the market, which is anticipated to have short-term impacts on overall sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of the pandemic, negative demand shock caused by the crisis is likely to last. After the pandemic, however, trends discussed in the Global Glass Fiber Reinforced Gypsum Market report are expected to pick up pace once more.

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

Glass Fiber Reinforced Gypsum Market: Segmentation

For the purpose of this report, Reports and Data has segmented into the global Glass Fiber Reinforced Gypsum market on the basis of Type, Application, End-Use, and Region.