The global foam glass market is likely to derive growth from the high investments in the development of efficient products by major companies. According to a report published by Fortune Business Insights,the market will rise considerably driven by the increasing number of company mergers and acquisitions across the world.
Foam glass is a porous glass foam material that is used in building material. The properties of foam glass material such as high strength, acoustic insulating, and light weight has led to a wider product adoption across the world. The increasing building and construction activities across the world have contributed to the growing demand for the product across the world. The increasing investment in the research and development of efficient products will yield products with the highest efficacy and calibre. The rising infrastructure development activities in several countries across the Asia Pacific as well as the Middle East and Africa will bode well for the growth of the overall market in the coming years. The presence of several large scale vendors will also contribute to the growth of the foam glass market in the coming years.
Increasing Number of Company Mergers Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions as well as collaborations has made the highest impact on market growth. Accounting to the increasing applications and subsequently rising demand for foam glass across the world, several companies are looking to merge, with the aim of acquiring a wider consumer base. In June 2017, Owens Corning announced that it has completed the acquisition of Pittsburgh Corning. Pittsburgh is a globally renowned company and producer of foam glass insulation system that serves both the commercial and industrial markets. Through the acquisition of Pittsburgh, Owens Corning will look to establish a strong position in the market. This acquisition will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other company mergers, similar to this, that have also made a considerable impact on market growth.
Asia Pacific Currently Dominates the Market; Rising Construction Activities to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific currently dominates the market. The rising building and construction activities in several countries across this region, including China, India, and Japan will emerge in favor of market growth. China is currently the largest producer of foam glass; a factor that will contribute to the growth of the regional as well as global foam glass market in the coming years. The market in Europe and North America hold a massive potential due to the increasing number of building restoration projects across these regions.
June 2019: Partnera Glass Recycling, a parent company of Uusioaines Oy, announced that it plans to acquire Hasopor AB. This acquisition is still in process and the official date has not been announced yet.
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