GLASS FIBER REINFORCED GYPSUM Market Size, Share, Demand, Key Drivers, Development Trends and Competitive Outlook
Glass fiber reinforced gypsum (GFRG) refers to the product that is manufactured by reinforcing high density alpha-based gypsum plaster with glass fibers. It is considered as an interior alternative to GFRC. The product is basically a reinforced gypsum product that possesses high strength with lighter weight for interior projects.The rise in demand for high quality materials in construction sector across the globe acts as one of the major factors driving the growth of glass fiber reinforced gypsum (GFRG) market. The increase in demand for glass fiber reinforced gypsum (GFRG) because of its superior characteristics such as flame resistance, and surge in construction spending in emerging economies accelerate the market growth. The rise in awareness regarding superior thermal and acoustical insulation properties of glass fiber reinforced gypsum, and increase in demand in the commercial building including educational institutes, residential buildings and hospitals, further influence the market. Additionally, implementation of stringent regulations, rise in awareness, surge in investments and high product adoption owning to the ease of installation due to its lightweight positively affect the glass fiber reinforced gypsum (GFRG) market. Furthermore, increase in preference for materials with aesthetic appeal for commercial construction extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
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