Few Global Players Dominate the Market despite the Presence of about ~150 Competitors Comprising a Large Number of Regional Players and Some Specialist Players, finds a recent market study on the Global Fiber Glass Market by Ken Research

Fiber Glass is a form of fiber-reinforced plastic whereas glass fiber is reinforced plastic. Fiberglass is lightweight, strong, and less brittle. The best part of fiberglass is its ability to get molded into various complex shapes. Fiberglass is lightweight, strong, and less brittle. The best part of fiberglass is its ability to get molded into various complex shapes.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

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Global Players Constitute ~15% of the Total Number of Competitors, While Regional Players Dominate Representing ~50% of Total Competitors.

A comprehensive competitive analysis conducted during the Research Study found that the global Fiber Glass market is competitive with ~150 players, including globally diversified players, regional players, and many country-niche players. The regional players comprise about ~50% in terms of the number of companies followed by country-niche players with ~35% of the total competitors. The players in the industry develop fiber glass material for applications including insulation and as composites for industries such as automotive, building & construction, aerospace & defense, and others.

The Rising Demand for Composite Materials in Construction and Infrastructure Industry is expected to be the Primary Driver of the Market.

Detailed comparative analysis of key competitors available within the Research Study shows that major players such as 3B – the fiber glass company, Johns Manville, Owens Corning, Saint-Gobain,  and others are highly focused on developing fiber glass products that can be used across multiple end-user industries, such as aerospace & defense, automotive & transportation, building & construction, and more. Furthermore, several companies and organizations are aggressively focusing on acquisitions and mergers with specialized players to invest in fiber glass products.

• In June 2022, Owens Corning announced an agreement to build a joint venture with Pultron Composites for the manufacturing of fiberglass rebar. With the agreement, the company commits to providing high-performance concrete reinforcement products in a sustainable manner.

• In May 2022, Owens Corning acquired the composites business of the Asahi Fiber Glass Company Ltd. in Japan. The acquisition expands the product portfolio of Owens Cornings with the addition of Liquid Crystalline Polymer, Polyphenylene Oxide (PPO) polymer products, Long-fiber thermoplastic compounds, Rubber-coated glass-fiber solutions, and others.

• In August 2020, a USA-based OEM supplier of custom fiber-reinforced plastic (FRP), National Composites acquired Sunrise Fiberglass. With the acquisition, the company has the capacity to serve industries such as marine and recreation, hospitality, electric and specialty vehicles, medical, and others.

Increased Government Initiatives and New Strategical Investments in the Building & Construction Industry Led to Major Product Development and Glass Fiber Technology Enhancement in the Market.

• An initiative by the USA government to provide affordable homes to its residents, propelled the demand for glass fiber composites in the region. For instance, in September 2021, the House Democrats passed the Build Back Better Act, which allocated financial aid of US$ 170 billion for affordable housing. Under the guidelines of the act, the government targets to build over one million affordable homes, which is expected to boost the demand for composites and insulation materials in the construction and infrastructure industry.

• In September 2022, the government of China announced to invest US$ 1,430 billion in major construction projects till 2025. According to the National Development and Reform Commission (NDRC), Shanghai has a total investment plan of US$ 38.7 billion to construct key infrastructures, whereas Guangzhou, signed 16 new infrastructure projects with the given investment of US$ 8.09 billion. All the construction projects will boost the demand for composite materials to be used in cement and other infrastructures.

In January 2021, Johns Manville launched a thermal recycling unit of glass fiber waste. The unit provides a projected recycling capacity of more than three tons per hour and help keeping more than 10,000 tons of waste out of landfills annually.

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Key Topics Covered in the Report

• Snapshot of Global Fiber Glass Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Fiber Glass Market
• Historic Growth of Overall Global Fiber Glass Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of Global Fiber Glass Industry
• Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
• Covid-19 Impact on the Overall Global Fiber Glass Market
• Future Market Forecast and Growth Rates of the Total Global Fiber Glass Market and Segments
• Analysis of Global Fiber Glass Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

• Asahi Fiber Glass Co., Ltd.
• 3B – the fibreglass company
• China Jushi Co., Ltd.
• Johns Manville
• Knauf Insulation
• Nippon Electric Glass Co.,Ltd.
• Owens Corning
• Saint-Gobain
• xingtai jinniu fb glass
• Taiwan Glass Industry Corporation

Notable Emerging Companies Mentioned in the Report

• Fureho AB
• Spintex Engineering Ltd.
• Darshan Safety Zone
• Fibtex Products
• Smartshield Insulation

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Fiber Glass Manufacturers
• Fiber Glass Suppliers
• E-Glass Manufacturers
• ECR-Glass Manufacturers
• H-Glass Manufacturers
• AR-Glass Manufacturers
• S-Glass Manufacturers
• Fiber Glass Distributors
• Emerging and Startup Companies in Fiber Glass
• Government Departments of Polymers
• Ministries and Departments of Plastics
• Importers and Distributors of Fiber Glass

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: –

Global Fiber Glass Market by Ken Research

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The post Key Insights on Competitive Landscape in Global Fiber Glass Market: Ken Research appeared first on Research News Today.