Glass Fiber Reinforced Gypsum Market - An Overview

The global glass fiber reinforced gypsum market is expected to witness strong growth during the forecast period between 2021 and 2031.

First produced in 1977, a glass fiber reinforced gypsum is obtained by reinforcing alpha-based, high-density gypsum materials with glass fiber.

Some of the product features which have caused increased demand include lightweight nature and fire-retardant nature and an ability to mold these products into different sizes and shapes.

Glass fiber reinforced gypsum is usually available in white color, but it can be painted into any color of requirement.

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The outbreak of the COVID-19 pandemic negatively impacted the overall glass fiber reinforced gypsum market.

Construction activities globally either completely stopped or witnessed a steep decline, owing to several restrictions imposed by governments to contain the spread of the virus. This led to a decrease in product demand and impacted the growth in the overall glass fiber reinforced gypsum market.

Glass Fiber Reinforced Gypsum Market - Trends and Opportunities

Rising number of construction activities in leading economies globally is the key growth driver for the global glass fiber reinforced gypsum market.

In addition to this, increased product deployment in renovation projects and improving existing structures globally is expected to fuel the growth in the overall market, in the years ahead.

Also, growing expenditure to develop high-quality public infrastructure is anticipated to fuel product demand, in the upcoming years.

Innovations to existing products are anticipated to drive the demand for glass fiber reinforced gypsum, in future.

Residential end-use segment is anticipated to make the largest contribution to the overall market due to increased product deployment in building and construction activities, globally.

The panel type of glass fiber reinforced gypsum is expected to contribute the most to the overall market in future owing to the low-cost nature of the product.

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Glass Fiber Reinforced Gypsum Market - Competitive Landscape

The global glass fiber reinforced gypsum market is extremely competitive, with the presence of several well-established players. Many of these players are expected to engage in different growth strategies such as new product launches in a bid to gain a competitive edge over the other players.

Leading players could focus on research and development undertakings in a bid to produce improved quality of products, which would meet the consumer requirements and increase the overall customer base.

The smaller players will seek investments from governments and private investors, which would help them in their long-term growth.

A few well-established players in the global market include Saint Gobain Formula GmbH, Gillespie, AWI Licensing LLC, Owens Corning, and Knauf Danoline.

Glass Fiber Reinforced Gypsum Market - Regional Assessment

The global glass fiber reinforced gypsum market is classified into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Europe is expected to be the dominant region in the glass fiber reinforced gypsum market due to the presence of several well-established market players in countries such as Germany and Italy, contributing to market growth in the region.

North America is anticipated to witness strong growth in future in the global market owing to the increased construction activity witnessed in countries such as US and Canada.

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Asia Pacific is expected to offer profitable growth opportunities for the glass fiber reinforced gypsum market because of a number of government initiatives and measures in countries such as India and China, supporting the use of the product.

These measures have led to market players such as Owens Corning establishing manufacturing units in Asia Pacific countries.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall glass fiber reinforced gypsum market, in the upcoming years.

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