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Analyzing Growth Trends and Projections in the GFRC Market

The global Glass Fiber Reinforced Concrete (GFRC) market is expected to reach 72.93 kilotons by 2030, with a CAGR of 4.4% from 2024 to 2030. Initially developed in Russia in the 1940s, GFRC gained widespread adoption for building facades in the 1970s. Since then, its application in construction projects has grown, driving market expansion.

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GFRC is a specialized type of concrete mixed with glass fibers. GFRC constitutes of AR glass fibers, acrylic polymer emulsions, cement, sand, pozzolan (VCOS), admixtures and color-dry. Glass fiber reinforced concrete is mostly used for construction , cladding and re-cladding of architectural buildings.

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GFRC was first developed in Russia in the 1940s, but it wasn't until the 1970s that its modern form became widely used for building facades. Since then, the application of GFRC in construction projects has steadily increased, driving market growth. A significant factor contributing to the growth of the Glass Fiber Reinforced Concrete market is the rising awareness of green buildings, particularly those rated by LEED (Leadership in Energy and Environmental Design).

Other factors such as acceleration of urbanization and growth of emerging economies further boost the market growth. However, low ductility and high cost due to ongoing R\&D might restrain the market growth. Moreover, the intensification of technological advancements is estimated to curtail the prices of GFRC and hence accelerate its adoption in future.

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The global glass fiber reinforced concrete market share has been analyzed based on process, application and geography. Based on process, the market is segmented into spray, premix and hybrid. Based on application, the market is segmented into commercial construction, residential construction and civil & other Infrastructure construction. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

North America represents higher adoption of GFRC because of the constant rise of its construction industry and hence is estimated to have the highest market share in the global glass fiber reinforced concrete (GFRC) industry during the forecasted period.

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The global glass fiber reinforced concrete (GFRC) industry is highly competitive and consists of numerous market players. Some of the major market players are Willis Construction Co., Inc., Fibrex Construction Group, Formglas Products Ltd., Clark Pacific, Ultratech Cement Ltd., Bitofiber A.S, BB Fiberbeton, Loveld, Low and Bonar, Stromberg Architectural.

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