Glass Insulation Market worth 58.71 Billion USD by 2021

19/06/2019

The global glass insulation market has been growing at a moderate pace over the past five years owing to the increase in demand from the non-residential construction and residential construction segments. Currently, the global glass insulation market is dominated by various key players, such as Owens Corning (U.S.), Nippon Sheet Glass Co. Ltd. (Japan), Johns Manville (U.S.), Knauf Insulation (U.S.), PPG Industries, Inc. (U.S.), Certain Teed Corporation (U.S.), Pittsburgh Corning Corporation (U.S.), Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia), Saint-Gobain ISOVER (U.S.), and Glassolutions Saint-Gobain (U.K.).

Several new product developments/launches were undertaken in the past few years by various key companies, such as Owens Corning, Nippon Sheet Glass Co. Ltd., Johns Manville, and others (Knauf Insulation (U.S.), PPG Industries, Inc. (U.S.). Product innovation is among the key growth strategies adopted by the leading players to gain an edge over their competitors.

These players are also focused on conducting more research & development activities for product innovation. For instance, Owens Corning introduced a pipe insulation product, ASJ Max FIBERGLAS, for use in concealed, hot & cold, and exposed piping in industrial and commercial applications. This product would help the company provide contractors and mechanical engineers with high performance insulation under tough environments in the piping application. Owens Corning also introduced EcoTouch PINK FIBERGLAS insulation product range with PureFiber Technology. This range includes high-performance, formaldehyde-free products used in residential and commercial insulation. This an environment-friendly product range that uses natural ingredients with over 70% of its content being recycled. Johns Manville launched JM Spider Plus blow-in fiberglass insulation product for residential and commercial applications. It is a cost-effective and time-effective product in projects that have demanding requirements. It also improved the company's blow-in glass fiber product portfolio.

Download PDF Brochure !

Expansion was another popular development strategy adopted by companies. Knauf Insulation expanded its glass wool manufacturing site in Vise, Belgium, making it the company's largest glass wool unit in Europe. It also opened its second plant in Russia, Tyumen. The new plant has a capacity to produce 3.5 million cubic meters of glass wool insulation products. Certain Teed Corporation expanded its manufacturing facility in Kansas City, which produces fiberglass insulation products.

Request New Version ! https://www.marketsandmarkets.com/RequestNewVersion.asp?id=41122796

Acquisitions were also made by major players in the global glass insulation market to leverage their technologies, products, and production facilities of the companies that were acquired. Knauf Insulation acquired Guardian Insulation, thus gaining access to the assets of its subsidiary, Guardian Fiberglass. Guardian Fiberglass is an important supplier of insulation products for the residential construction application. This improved the position of the company, especially in the North American market.