The Global Glass Fiber Reinforced Gypsum Market is expected to reach US$ 888.35 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025.
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Research N Reports offers latest published report “Glass Fiber Reinforced Gypsum Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025”. The author of the report analyzed that the Global Glass Fiber Reinforced Gypsum Market accounted for US$ 458.49 million in 2016.
Glass Fiber Reinforced Gypsum (GFRG) is a composite application utilizing naturally occurring mineral gypsum combined with reinforcing fibers. It may also contain polymers to increase product strength.
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The molding process can be either hand lay-up or a chopped strand spray method. Stereotypically, the end product is used for indoor applications with negligible exposure to moisture or other environmental elements.
Completed composites are in the form of ornamental or decorative columns, pillars and facades. With the slowdown in world economic growth, the global market has also suffered a certain impact, but still maintained a relatively optimistic growth.
In terms of revenue, the Global Glass Fiber Reinforced Gypsum Market was valued at US$ 458.49 Mn in 2016 and is expected to reach US$ 888.35 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025.
The Global Glass Fiber Reinforced Gypsum Market is boosted by factors such as:
- High strength and surface hardness.
- Excellent reproduction of fine detail.
- Low expansion ensures dimensional accuracy avoiding cracking and breakage.
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Based on type, the global market is segmented into cement board, fiber cement board, magnesium board, calcium silicate board, and others. Of these, the cement board segment dominated the global market in the preceding years and likewise is anticipated to lead the global market in the forecast period.
Moreover, cement board adds impact resistance and strength to the wall surface as compared to water resistant gypsum boards. It is also fabricated in thin sheets with polymer modified cements to allow bending for curved surfaces.
The Global Glass Fiber Reinforced Gypsum Market is divided into wall board and ceiling board based on product type. The wall board and ceilings systems effectively help in controlling sound transmission.
Gypsum board is used to construct strong, high quality walls and ceilings that offer excellent dimensional stability and durability. Surfaces created using gypsum board are easily decorated and refinished.
On the basis of application, the global market is bifurcated into interior/exterior application, roof application, barrier application, sheathing, shaft liner, tile backer and others. Gypsum wall board creates a continuous surface suitable for most types of interior decoration.
Moreover, the roof application segment dominated the global market in the past years and is expected to endure its dominance throughout the forecast period.
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In terms of regional analysis, Europe is estimated to dominate the Global Glass Fiber Reinforced Gypsum Market in terms of demand, followed by North America and the Asia-Pacific. Additionally, South America and the Asia-Pacific are expected to increase their market share during the forecast period due to the increasing consumer spending in these regions.
Some of the leading players operating in the Global Glass Fiber Reinforced Gypsum Market include Saint-Gobain, Formglas, Stromberg Architectural, Knauf Group, Owens Corning.
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