Glass Fiber Reinforced Concrete Market Size

Glass Fiber Reinforced Concrete Market size was valued at USD 2.5 billion in 2023 and is poised to grow from USD 2.74 billion in 2024 to USD 5.75 billion by 2032, growing at a CAGR of 9.7% during the forecast period (2025-2032).

The global glass fiber reinforced concrete market went through a period of transformation and growth. This is a direct result of the reshaping of construction and infrastructure industries. Concrete reinforcing fibers are usually made from synthetic polymers, natural fibers, glass, and steel. Their use reduces the chances of cracks, improving the tensile strength of concrete objects. The market is driven by the focus on increasing durability, strength and sustainability of any construction project.

Concrete reinforcing fibers improve speed and cost-efficiency of construction techniques. This has fueled its adoption in the construction industry. These fibers can improve concrete adaptability, reducing requirements for complicated formwork. This results in faster construction processes, further driving market growth. The construction industry is shifting to more sustainable materials and production methods, fueling market growth. This is in line with the rising awareness about the negative environmental impact of traditional construction practices. The durability of concrete reinforcing fibers reduces maintenance and repair costs of structures. The materials also remove the need for steel reinforcements. Their higher energy consumption rate can only deter environmental health, thus making concrete reinforcing fibers the perfect replacements. A variety of construction projects utilize concrete reinforcing fibers. These include applications like industrial, residential, and commercial. Infrastructure projects also tend to use these materials.

As the population moves to urban areas, infrastructure development has increased, driving the need for these fibers. There are new projects lined up for the building of tunnels, bridges, roads, and more. The growth of the global market can be restrained due to some challenges. These issues include high costs and market division and competition.

The increasing demand for fiberglass in various commercial, residential and civil constructions is expected in favor of market. Product benefits, including high stretches, bending and compressed power, are estimated to promote demand as a concrete reinforcement material. It helps to increase the strength of concrete, which promotes demand in the construction of countertops, fireplaces and others. The market is expected to demonstrate high growth over the near future due to rebuilding and improvement of renewal activities in the housing construction sector. In addition, increased construction of single homes is likely to emerge as one of the primary factors that promote the demand for fiberglass reinforced concrete (GFRC), which increases market growth. The rapidly growing construction industry, increasing technological advancements in the construction sector, and advantages offered by precast concrete such as reduced cost and time and easy installations, are contributing to the growth of the market. Growing population and rapid urbanization and industrialization in emerging economies is expected to run governments to increase construction costs to meet the growing infrastructure needs. This, for its part, is expected to run the demand for fiberglass reinforced concrete in different design applications.

Product manufacturers are actively involved in research and development, which are related to the production of fiberglass to strengthen the goals and emphasize the production of advanced reinforced fiberglass with different sizes and properties.

Market Key Attributes

In February 2024, RailTel Corporation of India announced that it has secured a work order from Western Railways worth Rs 124.90 crore. The contract entails the implementation of unified communication infrastructure, which includes IP/MPLS LAN Infra, VOIP exchange, IP-based control communication, and the replacement of UTN over Western Railway. This strategic initiative aligns with the Indian Railways' broader Digital Transformation Roadmap, focusing on modernizing communication systems, improving operational efficiency, and enhancing passenger experience. The deployment of IP/MPLS LAN Infra is expected to strengthen the railway's internal networking capabilities, allowing seamless data transfer, improved security, and better connectivity across stations and control centers.

In October 2022, the US-based construction technology company, Branch Technology announced to launch its new branch CHOD GFRC product line, which received environmental product declaration (EPD) certification. This progress highlights the company's commitment to sustainable construction practices, while innovative offers 3D-touched cladding solutions corresponding to strict environmental standards. The purpose of this product line is to provide architects and developers with environmentally friendly alternatives that maintain high performance and aesthetic appeal.