North America Glass Fiber Reinforced Gypsum Market Size, Share & Trends Analysis Report By Product (Type X, Type C), By Application (Exterior, Interior), By End-use (Non-Residential, Residential), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The North America glass fiber reinforced gypsum market size was estimated at USD 0.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. Increased building activity and increased public infrastructure spending are expected to drive the demand for glass fiber reinforced gypsum throughout the projected period. Furthermore, rehabilitation and modernization of existing structures are projected to boost the expansion of the glass fiber reinforced gypsum industry in the region. However, the COVID-19 pandemic had created a mixed impact on the overall North America glass fiber reinforced gypsum industry. The production of glass fiber reinforced gypsum dipped, and the industry witnessed recession. Many production activities were put on hold due to the lockdown conditions, and all the construction market activities across the globe have been halted to curb the spread of this virus. 

The U.S. accounted for a significant share in the market for glass fiber reinforced gypsum in North America, owing to the growing product adoption, coupled with increasing construction spending. The demand in the U.S. is also expected to increase owing to the recovery of the non-residential sector coupled with the presence of major glass fiber reinforced gypsum suppliers in the country. As a result, the surge in the number of construction activities across the country is fueling the growth of the market. The North America glass fiber reinforced gypsum market is very competitive, with numerous well-established competitors present. Many of these firms are anticipated to pursue various growth tactics, such as new product releases, to obtain a competitive advantage over their competitors.

The industry is largely influenced by the cost of raw materials and exhibits capital intensive nature. High cost for plant setup and machinery as well as the requirement of highly skilled labor may discourage new entrants in the industry. In addition, the manufacturers may face difficulty in establishing the business, owing to the presence of numerous suppliers across the globe, leading to low switching costs.

Glass fiber reinforced gypsum is gaining popularity among architects and designers for its ability to create new forms on ceilings and walls. The increasing use of the product in ordinary construction trades by architects is a major factor driving the market growth of the North America glass fiber reinforced gypsum. The growing number of indoor applications is likely to drive the expansion of the regional market.

Product Insights

The type X product segment is expected to grow at a CAGR of 5.5% over the forecast period. It is used in residential and commercial buildings, such as schools, hospitals, and shopping centers. Type X is economical, quick to install, and maintains excellent temperature tolerance. They are also reusable and have a low carbon footprint. The increasing adoption of Type X plasterboard in non-residential construction projects is expected to boost the market segment for North America glass fiber reinforced gypsum.

Type X wallboard is used as a covering material for interior walls and ceilings in residential and commercial applications that often require specific fire-rated assemblies. It is designed for direct attachment by screws, nails, or adhesive to wood or metal framing and even existing surfaces. The material used for this product increases its fire rating to a minimum of an hour and is usually installed in projects such as area separation firewalls, shaft walls, and stairwell walls.

Type C product segment accounted for 6.4% of the market share in 2021. The market for type C North America glass fiber reinforced gypsum is expected to register growth as it is more durable than type X. Type C has more glass fibers as well as more vermiculite components, giving it a fire resistance of 2-4 hours, but it is more expensive when compared to type X.

Type C comes in thinner boards and is easier to install. It accepts most types of paints, textures, and wall-covering materials. The surface shall be primed and sealed with a full-bodied latex primer before applying a final decorative material. This will equalize the suction between the joint compounds and the paper surface. Type C is better to use when installed horizontally, making it great for ceiling projects.

End-use Insights

The residential application segment is expected to reach USD 47.0 billion by 2030 at a significant CAGR of 6.0% over the forecast period. The residential construction market is expected to grow during the forecast period owing to the increasing population and lack of new residential areas in tier 1 cities.

The demand for residential application is expected to grow owing to the increase in population. The increasing population is demanding more space for accommodation, especially in tier 1 cities. To fulfill the demand, construction activities are increased by both government and private sector companies. Governments in many countries such as India are also emphasizing the development of rural areas.

The non-residential application segment accounted for revenue of USD 44.8 billion in 2021 and is expected to grow at a significant rate during the forecast period at a CAGR of 5.4%. Non-residential construction is expected to lead the market for North America glass fiber reinforced gypsum, owing to rising demand from sector commercial buildings for partition walls and load-bearing walls.

The demand for North America glass fiber reinforced gypsum in non-residential is also expected to increase during the forecast period owing to its wide usage in institutions, hospitals, offices, airports, gymnasiums, auditoriums, movie theatres, museums, and other commercial building construction worldwide.

Application Insights

The interior application segment accounted for revenue of USD 0.58 billion in 2021 and is expected to grow at a significant rate during the forecast period. The interior application segment is expected to lead the industry during the forecast period, in terms of volume and value. The growth of the interior segment can be attributed to the ability of glass fiber reinforced gypsum to be used as load-bearing walls, partition walls, and others, which are economical.

Glass fiber reinforced gypsum has high strength and lightweight for interior projects. It is an eco-friendly material manufactured from either natural or industrial gypsum. It consists of high-strength-resistant glass fibers that are bonded with high-density gypsum to produce panels. glass fiber reinforced gypsum can be used for both interior and exterior walls. In recent times it is used as an alternative to glass fiber reinforced concrete in interior construction and architectural projects.

The exterior application segment accounted for revenue of USD 0.39 billion in 2021 and is expected to grow at a significant rate during the forecast period at a CAGR of 6.6%. North America glass fiber reinforced gypsum panels are used to build external walls in wet areas, where water resistance is of prime importance. In addition, this variety of glass fiber reinforced gypsum is used in the formwork of floors or walls for filling concrete.

In addition to this, increased product deployment in renovation projects and improving existing structures globally are expected to fuel the growth in the overall interior application during the forecast period. Also, growing expenditure to develop high-quality public infrastructure is anticipated to fuel product demand, in the upcoming years.

Regional Insights

North America accounted for a revenue of USD 0.97 billion in 2021. Rapid growth in the construction sector across the globe is expected to boost the demand for glass fiber reinforced gypsum over the forecast period. North America accounted for a significant share of the market, owing to the growing product adoption, coupled with increasing construction spending.

U.S. accounted for revenue of USD 0.74 million in 2021. It accounts for a substantial share of the North America glass fiber reinforced gypsum market in terms of demand, owing to the growing construction industry. The industry players are focusing on expansion in the U.S. on account of tremendous growth opportunities in the construction sector in the region.

Mexico is witnessing a rise in a new consumer class having a high preference for modern product storage and distribution network during the forecast period. In addition, the rise in infrastructural development coupled with the rapidly changing logistics and supply network in the developing nation is expected to add positive growth to the overall North America glass fiber reinforced gypsum industry.

Canada accounted for 6.1% in terms of revenue in 2021. It is expected to register the highest growth over the forecast period, owing to the rapidly growing construction and transport sectors. The growth of the construction industry in North America presents significant opportunities for manufacturers to cater to the product demand. Public infrastructure development, particularly in Canada is expected to have a positive impact on industry’s growth.

Key Companies & Market Share Insights

The industry has continuously witnessed mergers and acquisitions by the major players to ensure competitiveness and profitability and establish a strong foothold in the market. The key players include CertainTeed; USG Corporation; Georgia-Pacific; Formglas Products Ltd; Stromberg Architectural; Owens Corning; American Gypsum; Advanced Architectural Stone; Meridian Precast Inc.; Petra Design.

The industry players have developed a huge customer base through high-quality packaging for brand recognition as well as the development of a broader brand portfolio. In addition, these players have a wider base of retailers as well as distributors and are also associated with industry OEMs and law enforcement agencies. Some prominent players in the North America glass fiber reinforced gypsum market include:

• CertainTeed

• USG Corporation

• Georgia-Pacific

• Formglas Products Ltd

• Stromberg Architectural

• Owens Corning

• American Gypsum

• Advanced Architectural Stone

• Meridian Precast Inc.

• Petra Design

North America Glass Fiber Reinforced Gypsum Market Report Scope

North America Glass Fiber Reinforced Gypsum Market Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the North America glass fiber reinforced gypsum market report based on product, application, end-use, and region:

• Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  • Type X

  • Type C

  • Others

• Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  •  Interior

    • Wall

    • Ceiling & Floor

    • Column & Light Cover

  • Exterior

    • Wall

    • Cladding

• End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  • Non-Residential

  • Residential

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  •  North America

    • U.S.

    • Canada

    • Mexico