Glass Fiber Reinforced Concrete (GFRC) is a material made up of glass fibers, cement, sand and water which provides high tensile strength, durability, fire resistance, chemical resistance, and thermal resistance. It helps in reducing the maintenance and transportation cost of the product because of the lightweight and long-lasting properties of the product.
In terms of demand by type, the market is segmented by Hybrid, Premix, and Spray. Spray type of GFRC holds the highest share in the Glass Fiber Reinforced Concrete Market. The spray type of GFRC offers several advantages in construction applications. It allows for seamless and uniform coverage, making it suitable for both large-scale projects and intricate designs. The spraying technique enables GFRC to be applied onto complex shapes, irregular surfaces, and even vertical or overhead surfaces with ease. The lightweight nature of GFRC spray reduces the load on the substrate and simplifies installation, making it an attractive choice for both new construction and renovation projects. Its weather resistance, fire resistance, and low maintenance requirements further contribute to its popularity in the construction industry.
Glass Fiber Reinforced Concrete is 80% lighter than regular concrete and is similarly durable which is one of the reasons why it is becoming a more preferred option over concrete.
Glass Fiber Reinforced Concrete is also a much more eco-friendly option when compared to its alternatives. It has a much lower carbon emission and due to its lightweight frame, requires much lower construction emissions. GFRC molding can be used to make countertops, columns, panels, domes, and more which makes it a versatile material in the building & construction industry.
In terms of applications, the market is bifurcated into Residential and Commercial. The commercial segment accounted for around 45% of the total market share. glass fiber-reinforced concrete helps to manage cracks and decrease the permeability during construction. Foundations, slabs, floorings, basements, and walls are the main application areas, where Glass Fiber Reinforced Concrete is commonly used.
North America is anticipated to dominate the market accounting for more than 45% of the total demand. The US has a high demand for Glass Fiber Reinforced Concrete for buildings and construction purposes. The investments in residential construction have been constantly growing over the years and therefore the demand for Glass Fiber Reinforced is increasing. According to the US Census Bureau, there were a total of 1.4 million constructions in June 2021.
Expansion of the residential, commercial, and industrial sectors due to sustainable economic growth in the region is expected to boost construction activities, thereby driving the product demand over the forecast period. The growing tourism sector in the region has propelled the demand for restaurants, resorts, and food chains, thereby driving the regional market growth.
High Costs
Glass Fiber Reinforced Concrete is much more expensive as compared to regular concrete. Glass Fiber Reinforced Concrete loses its strength over a long period of time while regular concrete doesn’t. Due to this, Glass Fiber Reinforced Concrete must be renovated more frequently than regular concrete. These factors prove to be a challenge for the Glass fiber Reinforced Concrete Market.
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