GFRG Panel: Introduction
- GFRG panel is made of glass fiber reinforced gypsum. GFRG panels are primarily employed in the construction sector due to the use of glass fiber reinforced gypsum in the sector. It is made from gypsum plaster, which is known for its excellent durability and binding ability. GFRG panel is also referred to as rapid wall.
- GFRG panels offer high resistance to degradation by weathering. GFRG panels have the ability to resist earthquakes measuring up to 8 Richter scale. These panels possess low specific weight. This makes it an ideal material in the construction industry.
Low Cost, Light Weight, and Eco-friendliness of GFRG Panel to Drive Market
- GFRG panels offer high resistance to fire, heat, water, termites, rot, and corrosion. They also possess high compressive strength, shearing strength, flexural strength, and ductility. Furthermore, GFRG panels are approved as green building materials by the U.S. Green Building Council (USGBC). Hence, these are eco-friendly alternatives to conventionally available panels such as drywall or plasterboards. The construction time required for GPRG panels is less. This helps save time and money. GFRG panels possess excellent heat thermal efficiency. Therefore, its fabrication ensures less cost for cooling and heating. Additionally, beams or columns are not needed for installation of these panels. Thus, the use of GFRG panels helps significantly lower construction costs, time, and energy. These factors are expected to boost the demand for these panels in the near future.
Impact of COVID-19 on Global GFRG Panel Market
- The coronavirus pandemic has severely impacted the global building & construction sector. Shortage of raw materials has led to disruption of the supply chain. This is likely to adversely affect the production of GFRG panels in the near future. Furthermore, lockdowns in developed and developing countries have led to closure of manufacturing as well as construction sites across the globe. Developers in the construction sector are struggling to obtain permits for on-going as well as new construction projects. Imposition of lockdowns has compelled laborers to migrate to their hometowns. This, in turn, has led to shortage of labor. These factors are likely to pose threats to the production as well as sale of GFRG panels.
Restraints of Global GFRG Panel Market
- Drywall or plasterboards are potential substitutes of GFRG panels. The cost of plasterboards is lesser than that of GFRG panels. Plasterboards also offer better properties in comparison to GFRG panels.
- Manufacture of GFRG panels requires skilled labor. Furthermore, GFRG panels are fragile, as they are made of fiber materials. Therefore, special care need to be taken for their loading and transportation. This is expected to hamper the global market in the near future.
Asia Pacific to Hold Prominent Share of Global GFRG Panel Market
- In terms of region, the global GFRG panel market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific is anticipated to hold major share of the global GFRG panel market during the forecast period. Rise in shortage of houses in developing countries, including India, Vietnam, South Korea, and Thailand, is expected to drive the GFRG panel market in these countries.
- Europe and North America are the key regions, wherein majority of producers of GFRG panels operate
- The market in Latin America and Middle East & Africa is expected to expand at a slower pace, as these regions rely on import of GFRG panels from developed countries. Furthermore, the cost of manufacture of GFRG panels is high in these regions due to lack of availability of raw materials.
Key Players Operating in Global Market
- The global GFRG panel market is highly consolidated. Manufacturers across the globe are engaged in marketing of their product line to enhance product reach among end consumers across the globe. Key players operating in the global GFRG panel market include:
- FACT RCF BUILDING PRODUCTS LTD(FRBL)
- Horizons Industrial Development Co. L.L.C.
Global GFRG Panel Market: Research Scope
Global GFRG Panel Market, by End-use
- Health Care
- Educational Institutes
- Offices Spaces
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.