LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global glass fiber reinforced gypsum market to grow at a CAGR of over 7% during the forecast period, according to their latest market research report.
The rising demand for panelized and modular constructions is one of the major trends being witnessed in the global glass fiber reinforced gypsum (GFRG) market 2018-2022. The increasing demand for residential and non-residential buildings has increased the popularity of modular and panelized construction over the last few years. In this type of construction, building parts are manufactured at distant locations and are assembled together to form an office or a residential building.
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According to Technavio analysts, one of the key factors contributing to the growth of the global glass fiber reinforced gypsum market is the rise in the global construction and infrastructure development activities:
Global glass fiber reinforced gypsum market: Rise in the global construction and infrastructure development activities
Globally, there is an upsurge in construction activities, especially in the developing countries such as India and China, which increases the growth of the global construction industry during the forecast period. For example, there are multiple projects which will increase the residential and non-residential construction activities during the forecast period.
According to a senior analyst at Technavio for research on glass and ceramics, “In countries such as the US, residential construction projects are expected to grow rapidly during the forecast period. Residential housing projects registered growth between 2016-2017. This was primarily due to the rise in demand for single and multi-family houses, especially in urban areas. It is also estimated that the contained demand of the recession period will also push the housing market in the US during the forecast period.”
Global glass fiber reinforced gypsum market: Segmentation analysis
The global glass fiber reinforced gypsum market research report provides market segmentation by end-user (non-residential and residential) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The non-residential segment held the largest market share in 2017, accounting for nearly 58% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 36% of the market share. The market share occupied by this region is anticipated to increase during 2018-2022.
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Five Forces Analysis
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