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Glass Fiber Reinforced Gypsum Market Size

Report ID: GMI11701
Published Date: Oct 2024
Report Format: PDF

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Glass Fiber Reinforced Gypsum Market Size

The global glass fiber reinforced gypsum market was valued at around USD 3.5 billion in 2023 and is anticipated to register a CAGR of over 6.5% between 2024 and 2032. The global market for glass fiber reinforced gypsum (GFRG) is witnessing robust growth, primarily fueled by the surging demand for lightweight construction materials.

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The construction industry, in its quest for efficiency and reduced labor costs, is increasingly turning to GFRG. Its lightweight nature, coupled with ease of installation and a commendable strength-to-weight ratio, positions it as a frontrunner for contemporary construction demands. This heightened demand is especially pronounced in commercial and high-rise buildings. Here, GFRG's fire resistance, durability, and versatility outshine traditional materials. Furthermore, its compliance with stringent building codes, combined with design flexibility, cements its status in expansive projects.

Glass Fiber Reinforced Gypsum Market Report Attributes
Report Attribute	Details
Base Year:	2023
Glass Fiber Reinforced Gypsum Market Size in 2023:	USD 3.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.5%
2032 Value Projection:	USD 6.2 Billion
Historical Data for:	2021 - 2023
No. of Pages:	310
Tables, Charts & Figures:	240
Segments covered:	Material, Glass Fiber Type, Application, End Use Industry
Growth Drivers:	Increasing demand for lightweight construction materials Rising adoption in commercial and high-rise buildings Increased infrastructure development in emerging markets
Pitfalls & Challenges:	High initial cost Volatility in raw material prices

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GFRG not only meets the lightweight material demand but also champions sustainability, being recyclable and promoting eco-friendly construction practices. This convergence of lightweight material demand, commercial construction imperatives, and expansive urban development charts a promising growth path for GFRG, heralding its pivotal role in the future of global construction endeavours.

The global market for glass fiber reinforced gypsum (GFRG) faces challenges due to high initial costs and fluctuating raw material prices. Producing GFRG requires specialized equipment and materials like gypsum and glass fibers, which are often more expensive than traditional options. These high production costs can make it less appealing for small-scale or budget-constrained projects. Additionally, raw material prices can be unpredictable due to supply chain disruptions and energy cost changes, adding uncertainty and affecting profitability. This combination of cost-related issues continues to pressure market growth.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for glass fiber reinforced gypsum was valued at around USD 3.5 billion in 2023 and is anticipated to register a CAGR of over 6.5% between 2024 and 2032, driven by the surging demand for lightweight construction materials.

The residential sector is projected to grow at a CAGR of 5.9% by 2032, fueled by the rising demand for lightweight, durable, and fire-resistant materials in home construction.

North America held a dominant glass fiber reinforced gypsum market share of over USD 1 billion in 2023, driven by heightened construction activities and an emphasis on sustainable building practices.

Major players in the glass fiber reinforced gypsum industry include AWI Licensing LLC, BACE India, Formglas Products Ltd, GC Products, Inc., Georgia-Pacific LLC, Knauf Danoline A/S, Saint-Gobain Formula GmbH, Stromberg Architectural, USG Corporation, and Yingchuang Building Technique Co. Ltd.