Glass Fiber Reinforced Concrete Market is expected to generate a revenue of USD 4.30 Billion by 2027, Globally, at 9.90% CAGR: Verified Market Research®

September 23, 2022

The global Glass Fiber Reinforced Concrete Market has witnessed strong growth owing to the growing awareness about eco-friendly building and construction. Moreover, the growing population and rapid urbanization and industrialization in the developing economies are anticipated to drive the growth of market.

/EIN News/ -- Jersey City, New Jersey, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Glass Fiber Reinforced Concrete Market” By Process (Spray, Premix, and Hybrid), By Application (Commercial Construction, Residential Construction, and Civil & Other Infrastructure Construction), and By Geography.

According to the extensive research done by Verified Market Research experts, the Glass Fiber Reinforced Concrete Market size was USD 2.02 Billion in 2019 and is projected to reach USD 4.30 Billion by 2027, growing at a CAGR of 9.90 % from 2020 to 2027.

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Global Glass Fiber Reinforced Concrete Market Overview

The global glass fiber reinforced concrete market is principally driven by growing awareness about eco-friendly building and construction. Green buildings are built by utilizing environmentally viable and responsible processes. People, particularly in the U.S. and Europe, are aware of the green structure since many building certification programs like Leadership in Energy and Environmental Design (LEED) have been incurred, contributing to the market growth. Moreover, the growing population and rapid urbanization, and industrialization in the developing economies are anticipated to drive governments to improve their construction spending to cater to the rising infrastructure needs.

This, in turn, is projected to propel the demand for glass fiber-reinforced concrete in numerous construction applications. Furthermore, because of global warming and other environmental problems, the climatic conditions keep evolving. Therefore, the need for safe and moisture-resistant buildings has risen considerably. Increasing demand for weather and fire-resistant infrastructure has also opened the door for market growth.

Key Players

The major players in the market are Ultratech Cement Ltd., Formglas Products Ltd., Willis Construction Co., Inc., Clark Pacific, Loveld, Fibrex, Betofiber A.S., Nanjing Beilida New Material System Engineering Co., Ltd. and BB Fiberbeton.

Verified Market Research has segmented the Global Glass Fiber Reinforced Concrete Market On the basis of Process, Application, and Geography.

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