San Francisco, California, June 25, 2018 – The global glass fiber reinforced gypsum (GFRG) market is predicted to gain momentum in its growth as a result of increasing awareness about superior characteristics of gypsum, including aesthetic appeal, sound absorption, fire resistance, and moisture resistance. Demand in the market could increase on the back of rapid rise in construction activities in different regions. In a report by TMR Research, the market is broadly evaluated based on various factors. It is titled “Glass Fiber Reinforced Gypsum (GFRG) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
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Type X GFRG is expected to gain larger share of the global market, compared to type C. It could be a commonly used material in GFRG manufacturing owing to its attractive benefits such as easy availability, exceptional temperature resistance, and low cost. Moreover, it could increase application in the construction industry due to increasing use of type X gypsum board. Another factor that could increase its demand is its high strength. Non-residential applications of GFRG are foretold to gather more pace in the market. GFRG could be used in the construction of commercial buildings such as offices, institutes, hospitals, and movie theaters. Compared to exterior, interior application of GFRG is envisioned to collect larger demand in the near future.
Amongst leading regions of the global GFRG market, Europe is prognosticated to secure a larger share during the course of the forecast period. Expansion of the building and construction industry could be a primary factor augmenting demand for GFRG in the region. Furthermore, presence of some of the top names of the industry is projected to create ample of opportunities in the regional market. A higher CAGR could be registered by the MEA though.
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Some of the prominent players of the international GFRG market are Formglas Holdings Inc., USG Corporation, and Chiyoda UTE.