Glass Fiber Reinforced Concrete Market Overview

Glass Fiber Reinforced Concrete Market is estimated to reach US$ 3.4 billion in 2021 and is estimated to grow at a CAGR of 8.3% during the forecast period 2022-2027. Glass Fiber Reinforced Concrete (GFRC) is a type of fiber-reinforced concrete that comprises alkali-resistant glass fibers as its primary fibrous material along with a cementitious matrix. Glass Fibers are synthetic fibers that are used as an alternative to steel in cement mixtures to obtain concrete that is much lighter and equally durable. The most common type of process used to mix and manufacture GFRC is the spray-up process, where a spray gun is used to cut and spray glass fibers. Glass Fiber is renowned for its excellent durability while also being lightweight and eco-friendly, which makes it one of the best alternatives.

COVID-19 Impact

Due to the COVID-19 Pandemic, there was a steep decline in the Building & Construction Industry as there was a lockdown implemented in many different countries, and the opportunity for business drastically decreased. For example, according to Eurostat, there was a decrease in the production in the Construction Industry by 25.4% in March and April of 2020 in Europe. Similarly, the demand for and production of raw materials for Glass Fiber Reinforced Concrete has decreased. The Glass Fiber Reinforced Concrete Market experienced a dip due to a decrease in both raw material production and demand from its End-Use Industry. The Glass Fiber Reinforced Concrete market, on the other hand, is steadily rebounding as the global situation improves and is expected to grow at a stable rate throughout the projected period. 

Report Coverage

The report: "Glass Fiber Reinforced Concrete Market – Forecast (2022-2027)" covers an in-depth analysis of the following segments of the Glass Fiber Reinforced Concrete Market.

By Type: Premix, Sprayed, Hybrids

By Material: Cement, Polymer, Water, Fine Aggregate (Sand), Plasticizers, Alkali Resistant (AR) Glass Fiber

By Application: Landscaping, Foundation & Flooring, Roofing, Cladding & Moldings, Façade, Countertops, Others.

By End-Use Industry: Building & Construction, Commercial, Infrastructure, Others 

By Geography: North America, Europe, Asia-Pacific, South America, RoW

Key Takeaways

• North America held the largest share in the Glass Fiber Reinforced Concrete Market in 2020. This is largely due to the increasing demand of the Building & Construction Industry in North America, with most demand coming from the United States of America.
• Glass Fiber Reinforced Concrete (GFRC) is used almost exclusively in Constructions and Infrastructures. The most common applications of GFRC are landscaping, foundations and flooring, cladding and moldings, and others.

• Due to its lightweight properties along with its durability, and being eco-friendly, GFRC is becoming increasingly popular for landscaping.

Drivers - Glass Fiber Reinforced Concrete Market 

Increasing Demand for Commercial, Civil and Residential Constructions: One of the major causes driving demand for Glass Fiber Reinforced Concrete is the growing demand for buildings and constructions, particularly large commercial projects such as retail malls, offices, theatres, and restaurants. According to the Global Alliance for Buildings and Construction, construction is expected to rise at a 2.6 percent annual rate in 2019, with Asia-Pacific, particularly China, witnessing a 4.4 percent annual growth rate. Although the Construction Industry's growth rate slowed in 2020 as a result of the COVID-19 Pandemic, it is expected to rebound steadily in the future years. With a growth in demand for the building and construction industry, demand for the glass fiber reinforced concrete market is also on the rise.

Opportunity - Glass Fiber Reinforced Concrete Market 

• Lightweight, Durable and Eco-Friendly properties of Glass Fiber Reinforced Concrete:

Glass Fiber Reinforced Concrete is becoming a more desired option over concrete as it is 80 percent lighter and durable. Glass Fiber Reinforced Concrete is also a much eco-friendlier option when compared to its alternatives. Glass Fiber Reinforced Concrete has a much lower carbon emission and due to its lightweight frame, requires much lower construction emissions. These reasons make Glass Fiber Reinforced Concrete much more desirable for use in public, domestic and commercial constructions.

Challenges - Glass Fiber Reinforced Concrete Market 

• Expensive and lack of Longevity in comparison to concrete:

Glass Fiber Reinforced Concrete is much more expensive in comparison to regular concrete. Ready Mix Concrete typically costs $66.4/cubic meter in India, whereas Glass Fiber Reinforced Concrete mix costs an average of $93/cubic meter. Other than that, 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.

Glass Fiber Reinforced Concrete Market Analysis – By Type

Sprayed type holds the highest share in this segmentation of the Glass Fiber Reinforced Market in 2021. The spray cannon is perfect for cutting and spraying glass fibers because of its ease of use. Because of the high density and length of the fiber, the ultimate product has outstanding strength. Cutting glass fibers to create long lengths is more time-consuming and costly, but when mixed with cement, it provides significantly higher strength. Hybrid Glass Fiber Reinforced Concrete is the least commonly utilized type of GFRC since it is more difficult to create technologically and thus more expensive.

Glass Fiber Reinforced Concrete Market Analysis – By Material

Cement holds the largest share in the Glass Fiber Reinforced Market in 2021, followed by Fine Aggregate (Sand). The total cement production in the world is predicted to be 4,100,000 billion tonnes, with China accounting for 55 percent and India accounting for 8%. According to the International Finance Corporation, however, Covid-19 is predicted to reduce global cement consumption by 3% year over year. Glass fiber Reinforced Concrete (GFRC) is made up of a variety of ingredients, the most common of which are cement and sand, which account for around 40% of the total. According to the World Cement Association, global cement production in 2018 was predicted to be 4215 million tonnes, with China dominating the market. Depending on the manufacturing process, such as sprayed or premixed, the percentage of AR glass fiber is usually between 2 and 5 percent. 

Glass Fiber Reinforced Concrete Market Analysis – By Application

Façade holds the highest share in the application of Glass Fiber Reinforced Concrete (GFRC) in 2021. GFRC is most commonly used as panels on facades of buildings. The term "façade" refers to a building's front appearance, which combines high quality and design while also establishing a theme for the structure. However, the term "façade" is now often used to refer to any face of a building envelope that is mostly vertical. Glass Fiber Reinforced Concrete is one of the greatest solutions for Facades since it delivers both excellent performance and aesthetics. Landscaping, cladding & moldings, foundations & flooring, countertops, and more are some of the other common uses for GFRC. 

Glass Fiber Reinforced Concrete Market Analysis – By End-Use Industry

The buildings & Construction Industry will hold the largest share in the Glass Fiber Reinforced Market in 2021. GFRC is mainly utilized in a variety of applications in the Construction Industry. GFRC is a much better alternative to concrete due to it being lighter by almost 80% and retaining equal durability. Many Original Equipment Manufacturers (OEM's) are slowly adopting GFRC in commercial and domestic constructions due to its excellent properties. As of now, the Building & Construction Industry is on the rise after a rough term due to COVID-19. The Global Alliance for Buildings and Construction stated in their 2020 Global Status Report that the Buildings and Construction industry in APAC, and China, in particular, is witnessing a growth of 4.4% per year while North America is growing at a rate of 1.2% and Europe at 2.3% per year. According to Invest India, the Construction Industry is projected to reach $1.4 trillion by 2025. We can similarly expect the demand for Glass Fiber Reinforced Concrete to increase in demand as well. 

Glass Fiber Reinforced Concrete Market Analysis – By Geography

North America held the largest share in the Glass Fiber Reinforced Concrete Market in 2021. North America, especially the United States of America, has a high demand for concrete reinforcing fibers for buildings and constructions. Residential construction spending has constantly grown over the years, and the demand for concrete reinforced with fibers is constantly on the rise. According to the United States Census Bureau, there were a total of 1.4 million constructions in June 2020 with an estimated annual rate of $1,355.2 billion. Glass Fiber Reinforced Concrete has many properties that make it desirable and noteworthy, and as such, it is the growing at a fast rate in the United States as well as North America as a whole. As such, the demand for Glass Fiber Reinforced Concrete is highest in North America. 

Competitive Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Glass Fiber Reinforced Concrete Market. The key companies in the Glass Fiber Reinforced Concrete Market are

1. Formglas Products Ltd.
2. Ultratech Cement Ltd.
3. Fibrobeton
4. GRCUK
5. BarChip Pty Ltd.
6. Willis Construction Co. Inc.
7. Clark Pacific
8. Low & Bonar
9. Betofiber A.S.
10. Stromberg Architectural

·         On 30 April 2019, Adfil launched a new synthetic micro-fiber based on an innovative polymer architecture which is being marketed under the brand name Durus EasyShot. Durus EasyShot is tested to outperform both steel and synthetic fibers when used in concrete mixes and is the new benchmark for reinforced shotcrete. 

Global Glass Fiber Reinforced Concrete Market Growth, Trend and Forecast 2022-2027

Chapter 1 Glass Fiber Reinforced Concrete Market Overview

1.1 Product Overview and Scope of Glass Fiber Reinforced Concrete

1.2 Glass Fiber Reinforced Concrete Market Segmentation by Type

1.2.1 Global Production Market Share of Glass Fiber Reinforced Concrete by Type in 2022

1.2.2 Premix

1.2.3 Sprayed

1.2.4 Hybrids 

1.3 Glass Fiber Reinforced Concrete Market Segmentation by Material 

1.3.1 Glass Fiber Reinforced Concrete Consumption Market Share by Resin Type in 2022

1.3.2 Cement

1.3.3 Polymer

1.3.4 Water

1.3.5 Fine Aggregate (Sand)

1.3.6 Plasticizers

1.3.7 Alkali Resistant (AR) Glass Fiber

1.4 Glass Fiber Reinforced Concrete Market Segmentation by Application

1.4.1 Landscaping Cladding & Moldings

1.4.2 Foundation & Flooring

1.4.3 Roofing

1.4.4 Façade 

1.4.5 Countertops, Others

1.5 Glass Fiber Reinforced Concrete Market Segmentation by End-Use Industry   

1.5.1 Building & Construction

1.5.2 Commercial

1.5.3 Infrastructure, Others 

1.6 Glass Fiber Reinforced Concrete Market Segmentation by Regions

1.6.1 North America

1.6.2 China

1.6.3 Europe

1.6.4 Southeast Asia

1.6.5 Japan

1.6.6 India

1.6. Global Market Size (Value) of Glass Fiber Reinforced Concrete (2015-2028)

Chapter 2 Global Economic Impact on Glass Fiber Reinforced Concrete Industry

2.1 Global Macroeconomic Environment Analysis

2.1.1 Global Macroeconomic Analysis

2.1.2 Global Macroeconomic Environment Development Trend

2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Glass Fiber Reinforced Concrete Market Competition by Manufacturers

3.1 Global Glass Fiber Reinforced Concrete Production and Share by Manufacturers (2021 and 2022)

3.2 Global Glass Fiber Reinforced Concrete Revenue and Share by Manufacturers (2021 and 2022)

3.3 Global Glass Fiber Reinforced Concrete Average Price by Manufacturers (2021 and 2022)

3.4 Manufacturers Glass Fiber Reinforced Concrete Manufacturing Base Distribution, Production Area and Product Type

3.5 Glass Fiber Reinforced Concrete Market Competitive Situation and Trends

3.5.1 Glass Fiber Reinforced Concrete Market Concentration Rate

3.5.2 Glass Fiber Reinforced Concrete Market Share of Top 3 and Top 5 Manufacturers

3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global Glass Fiber Reinforced Concrete Production, Revenue (Value) by Region (2015-2022)

4.1 Global Glass Fiber Reinforced Concrete Production by Region (2015-2022)

4.2 Global Glass Fiber Reinforced Concrete Production Market Share by Region (2015-2022)

4.3 Global Glass Fiber Reinforced Concrete Revenue (Value) and Market Share by Region (2015-2022)

4.4 Global Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.5 North America Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.6 Europe Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.7 China Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.8 Japan Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.9 Southeast Asia Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

4.10 India Glass Fiber Reinforced Concrete Production, Revenue, Price and Gross Margin (2015-2022)

Chapter 5 Global Glass Fiber Reinforced Concrete Supply (Production), Consumption, Export, Import by Regions (2015-2022)

5.1 Global Glass Fiber Reinforced Concrete Consumption by Regions (2015-2022)

5.2 North America Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

5.3 Europe Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

5.4 China Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

5.5 Japan Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

5.6 Southeast Asia Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

5.7 India Glass Fiber Reinforced Concrete Production, Consumption, Export, Import by Regions (2015-2022)

Chapter 6 Global Glass Fiber Reinforced Concrete Production, Revenue (Value), Price Trend by Type

6.1 Global Glass Fiber Reinforced Concrete Production and Market Share by Type (2015-2022)

6.2 Global Glass Fiber Reinforced Concrete Revenue and Market Share by Type (2015-2022)

6.3 Global Glass Fiber Reinforced Concrete Price by Type (2015-2022)

6.4 Global Glass Fiber Reinforced Concrete Production Growth by Type (2015-2022)

Chapter 7 Global Glass Fiber Reinforced Concrete Market Analysis by Application

7.1 Global Glass Fiber Reinforced Concrete Consumption and Market Share by Application (2015-2022)

7.2 Global Glass Fiber Reinforced Concrete Consumption Growth Rate by Application (2015-2022)

7.3 Market Drivers and Opportunities

7.3.1 Potential Applications

7.3.2 Emerging Markets/Countries

Chapter 8 Glass Fiber Reinforced Concrete Manufacturing Cost Analysis

8.1 Glass Fiber Reinforced Concrete Key Raw Materials Analysis

8.1.1 Key Raw Materials

8.1.2 Price Trend of Key Raw Materials

8.1.3 Key Suppliers of Raw Materials

8.1.4 Market Concentration Rate of Raw Materials

8.2 Proportion of Manufacturing Cost Structure

8.2.1 Raw Materials

8.2.2 Labor Cost

8.2.3 Manufacturing Expenses

8.3 Manufacturing Process Analysis of Glass Fiber Reinforced Concrete

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

9.1 Glass Fiber Reinforced Concrete Industrial Chain Analysis

9.2 Upstream Raw Materials Sourcing

9.3 Raw Materials Sources of Glass Fiber Reinforced Concrete Major Manufacturers in 2022

9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

10.1 Marketing Channel

10.1.1 Direct Marketing

10.1.2 Indirect Marketing

10.1.3 Marketing Channel Development Trend

10.2 Market Positioning

10.2.1 Pricing Strategy

10.2.2 Brand Strategy

10.2.3 Target Client

10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis

11.1 Technology Progress/Risk

11.1.1 Substitutes Threat

11.1.2 Technology Progress in Related Industry

11.2 Consumer Needs/Customer Preference Change

11.3 Economic/Political Environmental Change

Chapter 12 Global Glass Fiber Reinforced Concrete Market Forecast (2022-2028)

12.1 Global Glass Fiber Reinforced Concrete Production, Revenue Forecast (2022-2028)

12.2 Global Glass Fiber Reinforced Concrete Production, Consumption Forecast by Regions (2022-2028)

12.3 Global Glass Fiber Reinforced Concrete Production Forecast by Type (2022-2028)

12.4 Global Glass Fiber Reinforced Concrete Consumption Forecast by Application (2022-2028)

12.5 Glass Fiber Reinforced Concrete Price Forecast (2022-2028)

Chapter 13 Appendix