"New product launches and investments are among the key approaches adopted by leading market players to foster their growth in the Global Fiberglass Market"
Jushi Group is a global leader in the production of fiberglass. It manages its business by laying emphasis on innovation, productivity, safety, performance, and results. It operates through the following segments, namely aerospace, automotive, electrical and electronics, sports, marine, and wind energy among others. Jushi Group is principally focused on developing its fiberglass business worldwide. The Jushi Group has occupied a share of 20.4% in the global fiberglass market. The company accelerates its efforts towards enhancing its capabilities to deliver innovative solutions for addressing the diversified demands of its potential consumers.
Fiberglass is made by combining a group of extremely thin glass fibers. The glass fibers may be randomly arranged. These glasses commonly comprise of silica or silicate, with varying amounts of oxides of calcium, magnesium, and boron. Fiberglass is a strong lightweight material, and is utilized for many products. Although, it is not as strong and stiff as composites based on carbon fiber, it is less brittle and its raw materials are much cheaper.
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Owens Corning is another prominent player involved in roofing, glass fiber insulation, and fiber reinforcements business. It is a prime producer of glass-fiber reinforcements, commercial and residential building materials, and composite systems. The company launched EcoTouch PINK Fiberglass for residential insulations, which helps to keep temperature cooler in summer and warmer in winters. The company has also planned to invest $130 million in the North America fiberglass market.
Braj Binani Group is headquartered in India. Originally, the company was into manufacturing glass, later in 2012 it acquired 3B-The Fiberglass Company, and established itself as a leading provider of fiberglass in India. In 2015, the company launched HiPer-tex H2020 roving that offers glass fibers solutions for the transport industry.
The bulk strength and weight of fiberglass are also better than other metals, and it can be molded into complex shapes much easily. Applications of fiberglass are into composites including aircraft, boats, automobiles, bath tubs and enclosures, and insulation. The global market of fiberglass is dominated by the Asia-Pacific region, followed by North America and Europe, both in terms of value and volume. China is the biggest manufacturer of fiberglass in the world. Though, the growth in China fiberglass industry had slowed down in the past few years, globally the market demand has been stable. During the first decade of the twenty first century, the global market of fiberglass was in glut of production capacity but recently the overall demand has increased, optimizing the oversupplies in this market.
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A detailed market share analysis of major players in the global fiber glass market has been covered in this report. Major companies involved in this market are Owens Corning (U.S.), China Fiberglass Company (Jushi Group) (China), AGY Holding Corp. (U.S.), Saint-Gobain Vetrotex (France), and PPG Industries Inc. (U.S.) among others.
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