Stratview Research has published a new report titled “Glass Fiber-Reinforced Gypsum (GFRG) Market” which is segmented by Type (Type X, Type C, and Others), by Application Type (Interior and Exterior), by End-Use Type (Non-Residential Construction and Residential Construction), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the glass fiber-reinforced gypsum market is expected to grow from USD 2.28 billion in 2021 to USD 3.68 billion by 2028 at a CAGR of 7% during the forecast period of 2022-2028. Growing construction activities and excellent performance of GFRG, such as marvelous aesthetic, sound absorption, fire resistance, and moisture resistance, are driving the GFRG market.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
Based on the type, the market is segmented into Type X, Type C, and others. Type X segment is expected to remain the largest as well as fastest-growing segment of the market during the forecast period. Type X is the most widely used material as it is easily available and cost-effective, and can tolerate high-temperature resistance.
Based on the application type, the GFRG market is further segmented into interior and exterior. The interior segment dominates the market and is also likely to grow at a higher rate in the coming five years. GFRG proves to be cost-effective and is easily available, which, in turn, drives its higher usage in loadbearing walls, partition walls, and other interior applications in both, residential and non-residential construction.
Which Region is expected to remain the largest market?
Europe leads the demand for the glass fiber-reinforced gypsum market, owing to the recovery of non-residential sector coupled with the presence of major GFRG suppliers in the region, such as Knauf Danoline A/S and Gillespie. Asia-Pacific is set to witness the highest growth in the coming five years, driven by an excellent growth in construction activities, especially in China and India.
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