Market Size of GRC Cladding Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 12.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GRC Cladding Market Analysis
The size of GRC Cladding Market is USD 2.9 billion in the current year and is anticipated to register a CAGR of over 12% during the forecast period. The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in various industries, including a major impact on the construction industry, which may affect the glass fiber reinforced concrete cladding market.
- Work interruptions due to lockdown measures imposed by governmental authorities negatively affected the commercial, residential, infrastructural, and institutional sectors, decreasing the demand for glass fiber-reinforced concrete cladding. Such lower demand from the commercial and residential construction sectors is expected to hinder the demand for GRC Cladding products during the short term.
- Over the short term, the increased emphasis on green buildings (LEED ratings) and superior mechanical characteristics are expected to drive the market's growth. In the United Kingdom, building regulations state that the materials used for external wall construction or wall cladding should not be a medium for spreading fire. Both US and UK have stringent guidelines on whether cement formulations can run the risk of combustion. This increase the need for a more fire-resistant material for wall cladding.
- GRC is effective at fire resistance and incombustibility because the mix's special blend of polymers and fibers makes it impermeable, weather-resistant, and fire-retardant. GRC has many different advantages that come with its use over other materials. It is a truly amazing cement alternative that is lighter, stronger, more flexible, more durable, and just as fire-resistant.
- GRC, which is water and sound-insulated due to its nature, provides thermal insulation with the application of rock wool. This property may lead to increased demand in regions with extreme weather conditions. Larger GRC products, like building cladding panels, are manufactured using a spray. Sprayed GRC is generally stronger than premix vibration-cast GRC.
