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Owens Corning SWOT & PESTLE Analysis

ID : 52786253| Oct 2020| 14 pages

COMPANY PROFILE -Owens Corning

Business Sector :Building Materials and Construction

Operating Geography :United States, North America, Global

About Owens Corning :

Owens Corning is an American company headquartered in Toledo, Ohio. It develops and produces insulation, roofing, and fiberglass composites and related materials and products. Owens Corning was formed in 1935 through a merger of two major American glassworks, Corning Glass Works and Owens-Illinois. It became a separate company in 1938. Owens Corning has also been a Fortune 500 company every year since 1955, right from inception, since the list was introduced. Owens Corning's products include insulating systems, composite solutions, roofing, asphalt and other building materials and services. The company has earned the 2020 Women’s Choice Award, which recognizes the brand behind America’s Most Recommended Roofing Products. Owens Corning leverages the talents of 19,000 employees in 33 countries across the world. It also provides innovative products, manufacturing technologies, and sustainable solutions which address issues like energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions by the company provide a material difference to it's customers, and contributes in making the world a better place.
Owens Corning's Unique Selling Point or USP lies in it being the largest manufacturer of fiberglass composites and one of the world's major producers of polyester resins. Owens Corning’s mission statement reads "Owens Corning is a company with an unwavering commitment to delivering solutions, transforming markets and enhancing lives. It's who we are. ... We do it by fully engaging our employees in support of growing our customer's businesses."

Owens Corning Revenue :


$ 7,160 million - FY ending 31st December 2019 (y-o-y growth 1.46%)
$ 7,057 million - FY ending 31st December 2018

Competitive Analysis of Owens Corning

SWOT
PESTLE
The SWOT analysis for Owens Corning is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Established brand and global leader in building and Industrial materials
2. Extensive reach of products in end-user market and end use applications
3. Free cash flow generation beating Dow Jones U.S. Construction & Materials Index
4. Focus on sustainable products and solutions
1. Supply issues of raw materials for Roofing segment
2. Insulation segment working capital is seasonal
3. Dependence on few large United States home improvement distributors and retailers for substantial sales in the Insulation and Roofing segments
4. Inability to alter costs with decreasing product sales
5. Usage of hazardous materials in roofing solutions tarnished brand image
OpportunitiesThreats
1. Demand for composites high replacing traditional construction materials
2. Development of new products keeping customer demands in mind
1. Presence of competition in all geographical markets
2. Increasing introduction of innovative products and technologies by market players in building products industry
3. Seasonality of business segments affects profitability of the sector
4. Downward sales trend due to falling demand
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Detailed SWOT Analysis of Owens Corning

Strength

1. Established brand and global leader in building and Industrial materials: Owens Corning is a heritage brand having global operations in 33 countries as of 2020. It recorded a revenue of $7.2 billion in the financial year 2019 and has been consistently ranked among the Fortune 500 companies for 66 years since the inception of the list. It holds leading market positions in all 3 businesses, viz. Insulation, Roofing and Composites being the largest producer of residential, commercial and industrial insulation in North America. In the production of asphalt roofing shingles, it ranks second in the United States. The Company is an industry leader in technical insulation growth markets. The composites business boasts of being ranked one in glass non-wovens and second in the Global glass fiber market. This year marks the 40 years of association of The Pink Panther character with Owens Corning as the most iconic and loved brand mascot giving it recognition worldwide.

2. Extensive reach of products in end-user market and end use applications: The company manufactures a wide variety of products for end user applications. Its glass fiber materials under the composites business can be found in nearly 40,000 end-use applications in building and construction, transportation, consumer, industrial, and power and energy markets. These include pipe, roofing shingles, sporting goods, consumer electronics, telecommunications cables, boats, aviation, automotive, industrial containers and wind-energy. It sells processed asphalt to other shingle manufacturers, roofing contractors for built-up roofing asphalt systems and to manufacturers in a variety of other industries, including automotive, chemical, rubber and construction. The company also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated mineral wool insulation, cellular glass insulation and foam insulation used in above- and below-grade construction applications. With diversified product lines and customer segments, the firm is able to hedge the seasonality of the businesses. This creates a better demand pattern and reduces the company's operational risk.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

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Major Competitors :

    Composites
  • China Jushi Group Co. Ltd.
  • Chongqing Polycom International Corporation Ltd (CPIC)
  • Johns Manville
  • Nippon Electric Glass Co. Ltd. (NEG)
  • Taishan Glass Fiber Co. Ltd.

  • Insulation
  • CertainTeed Corporation
  • Dow Chemical
  • Johns Manville
  • Knauf Insulation
  • ROCKWOOL International

  • Roofing
  • GAF
  • TAMKO

Major Brands :

  • Owens Corning PINK® FIBERGLAS™ Insulation
  • Thermafiber®
  • FOAMGLAS®
  • Paroc®
  • FOAMULAR® NGX
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Owens Corning Analysis Report

1. Stock Performance and Earnings - https://investor.owenscorning.com/investors/stock-performance- and-earnings/default.aspx?section=presentations
2. FOCUSED ON SHAREHOLDER VALUE - https://s21.q4cdn.com/855213745/files/doc_presentations/2020/09/2020-Q3-presentation-v7.pdf
3. COVID-19 UPDATE - https://s21.q4cdn.com/855213745/files/doc_presentations/2020/09/2020-Q3-presentation-v7.pdf
4. Owens-Corning Fiberglas Corporation - https://www.asbestos.com/companies/owens-corning-fiberglas/
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Owens Corning SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Owens Corning SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/owens-corning/ [Accessed 30 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Owens Corning SWOT and PESTLE analysis has been conducted by Ayushi Verma and reviewed by senior analysts from Barakaat Consulting.

Copyright of Owens Corning SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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Owens Corning SWOT & PESTLE Analysis
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