The report “GFRG (Glass Fiber Reinforced Gypsum) Market by Type (Type X, Type C), Application (Interior and Exterior), End User (Residential and Non-Residential), and Region (North America, Europe, APAC, Latin America, MEA) – Global Forecast to 2023″ The GFRG market is projected to grow from USD 2.45 Billion in 2018 to USD 3.44 Billion by 2023, at a CAGR of 7.0% between 2018 and 2023.GFRG has good strength, good temperature resistance, and ease of rapid construction. However, the requirement of all the properties, such as high strength and good temperature resistance in building products increases their need in the construction industry. Hence, the increase of construction projects is one of the most significant factors projected to drive the GFRG market.
Browse 69 market data Tables and 38 Figures spread through 108 Pages and in-depth TOC on “GFRG (Glass Fiber Reinforced Gypsum) Market”
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Key players operating in the GFRG market work on numerous projects to strengthen their market position.
Formglas (US), one of the leading manufacturers with a strong product portfolio, provides GFRG to numerous projects to build ceilings, domes, walls, columns, and light covers. The company has recently worked on numerous big projects, namely Macedonian Orthodox Church St. Ilija (Canada), Koi Las Vegas (US), Exxon Mobil Corporation (UAE), etc. The company has a well-established brand name and undertaken various projects across the globe.
Major players operating in the GFRG market include Gillespie (UK), USG Corporation (US), Continental Building Products (US), Chiyoda UTE (Tokyo), CertainTeed (US), Knauf Danoline (Denmark), Saint-Gobain Gyproc (France), and Georgia-Pacific (US). These companies have a strong presence in the GFRG market and are continuously undertaking efforts to improve their business strategies and product portfolios.
Gillespie (UK) is one the leading market players who have worked on various projects across the globe. They are known for their product Zerodec GRG, which is majorly used for interior applications. They have worked on numerous projects such as Venetian, Macau (China), Oita Public Library (Japan), Hilton Hotel (Singapore), Hyatt Regency Hotels (Saudi Arabia), Royal Ascot Racecourse (UK), and several such popular buildings built by the company using GFRG. The company has a strong presence in different parts of the globe. Recently, the company has started working on various projects in different parts of the MEA.
Based on type, the Type X segment of the GFRG market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increased demand for Type X GFRG in both residential and non-residential buildings, such as homes, offices, institutes, and hospitals. Type X GFRG have a high noise reduction coefficient, along with the good temperature resistance property, which enhances their acoustic property by absorbing sound or preventing echo. Thus, properties of Type X such as low cost, improved sound absorption capability, good fatigue, temperature resistance, and recyclability have contributed to the increased use of Type x GFRG in green building constructions.
Based on application, the exterior segment of the GFRG market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the exterior segment can be attributed to the increased use of GFRG as walls and claddings in industrial and non-residential buildings, such as auditoriums, offices, institutes, hospitals, and cinema theaters.
Based on end user, the non-residential segment of the GFRG market is projected to grow at the highest CAGR between 2018 and 2023, in terms of value or volume. Properties of GFRG such as mold & moisture resistance, abuse & impact resistance, and fire resistance make them an ideal material for use in non-residential buildings. As GFRG are good absorbers and attenuator of sound, they are widely used in offices, museums, hospitals, and institutions where sound absorption and aesthetic appeal is a priority.
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