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Fiberglass Recycling Market to Grow by USD 543.2 Million (2024-2028) as Eco-Friendly Practices Drive Revenue; AI-Redefined Market Landscape Report – Technavio

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NEW YORK, Oct. 29, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global fiberglass recycling market  size is estimated to grow by USD 543.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.4%  during the forecast period. Emphasis on eco-friendly practices for resource efficiency is driving market growth, with a trend towards methods for recycling fiberglass from wind turbines. However, challenges in recycling wind turbine blades  poses a challenge.Key market players include Adesso Advanced Materials, Borealis AG, Carbon Rivers Inc., Eco Wolf Inc., European Metal Recycling Ltd., Gen 2 Carbon Ltd., General Kinematics Corp., Global Fiberglass Solutions Inc., Johns Manville Corp, Neowa GmbH, Owens Corning, ReFiber ApS, Sinoma Science and Technology Co. Ltd., Strategic Materials Inc., Toray Industries Inc., Veolia Environnement SA, Vestas Wind Systems AS, and WindEurope VZW ASBL.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Construction, Automotive, Aerospace, Wind energy, and Others), Type (Mechanical recycling, Thermal recycling, and Chemical recycling), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Adesso Advanced Materials, Borealis AG, Carbon Rivers Inc., Eco Wolf Inc., European Metal Recycling Ltd., Gen 2 Carbon Ltd., General Kinematics Corp., Global Fiberglass Solutions Inc., Johns Manville Corp, Neowa GmbH, Owens Corning, ReFiber ApS, Sinoma Science and Technology Co. Ltd., Strategic Materials Inc., Toray Industries Inc., Veolia Environnement SA, Vestas Wind Systems AS, and WindEurope VZW ASBL

Key Market Trends Fueling Growth

The fiberglass recycling market is experiencing notable progress, particularly in the development of advanced methods for recycling fiberglass from wind turbines. A recent innovation is a new facility in Fairfax, US, which unveiled a groundbreaking turbine blade recycling process in June 2024. This facility utilizes a patent-pending technology to process around 12 tons of turbine blades per hour. The process consists of shredding the blades and separating non-recyclable components, resulting in shredded fiberglass composite available in various forms such as fine powder and different sizes. This recycled fiberglass is poised to make a significant impact in the construction industry. Once fully operational, the facility will supply these materials for use in concrete and asphalt production, offering a sustainable alternative to traditional construction materials. This not only reduces the environmental impact of wind turbine disposal but also supports the circular economy by reintroducing recycled materials into the supply chain. The trend towards more efficient and eco-friendly recycling methods is anticipated to fuel growth in the fiberglass recycling market. As more facilities adopt similar technologies, an increase in the availability of recycled fiberglass for various applications is expected, attracting investments and fostering collaborations to improve recycling processes and expand the market for recycled fiberglass products. 

The Fiberglass Recycling Market is experiencing significant growth due to the increasing demand for Fiber-reinforced plastic (FRP) in various industries, particularly Building and Construction and Transportation. The generation of FRP waste is a growing concern, leading to a need for effective recycling solutions. Recycling technologies, such as Mechanical Recycling, Pyrolysis, and Chemical Recycling, are being explored to reduce landfill waste and increase sales revenue. The Engineering Sector is embracing the Circular Economy, using recycled materials to produce new Fiberglass Composites for applications like Lightweight Vehicles, Electric Vehicles, and Green Building Initiatives. Woven Roving and Thermoplastic Fiberglass waste are valuable resources for Renewable Energy projects like Wind Energy and industries such as Aerospace and Defense with high fiberglass content. However, high recycling costs and waste disposal regulations pose challenges. Closed-loop recycling systems are being developed to address these issues, ensuring a sustainable future for Fiberglass Recycling. 

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Market Challenges

The wind energy sector encounters a substantial challenge in recycling wind turbine blades, which make up a significant portion of the turbine’s composition. These blades, engineered to withstand extreme weather conditions, are primarily made of fiberglass reinforced with epoxy resin, making them incredibly durable. However, this durability poses a challenge during the recycling process. Approximately 90% of wind turbine components are easily recyclable. However, the fiberglass and epoxy resin blend in the blades is resistant to conventional recycling methods. This resistance necessitates the development of specialized recycling technologies, which are often expensive and not widely available. The high costs and technical difficulties involved in recycling these blades deter many companies from investing in the necessary infrastructure. As the number of wind turbines reaching the end of their operational life continues to increase, so does the volume of waste generated by decommissioned turbine blades. This growing waste stream underscores the urgent need for innovative recycling solutions that can efficiently and cost-effectively process these materials. The fiberglass recycling market faces significant growth hurdles due to these challenges. The high costs and technical difficulties associated with recycling fiberglass and epoxy resin blades will likely limit market expansion during the forecast period.Fiberglass recycling is a growing market with significant challenges. Mechanical and thermal recycling are common methods, but high recycling costs limit their use. Incineration and landfill waste reduction are alternatives, but they don’t fully address the circular economy goal. Demand for recycling in the engineering sector is increasing, but recycling technologies must improve to meet this need. Fiberglass waste comes from various types, including woven roving, thermoplastic fiberglass, and surface mat. Recycling applications include lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and more. Waste disposal regulations drive the need for closed-loop recycling systems. Fiberglass composites, with high, medium, and low fiberglass content, present different recycling challenges. Renewable materials offer potential solutions, but the recycling methods and costs must be competitive. Recycling fiberglass composites requires specialized technologies, such as chemical recycling. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. Recycling fiberglass types, including woven roving, thermoplastic fiberglass, and surface mat, presents various challenges. Mechanical recycling can be used for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are options for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The recycling market for fiberglass composites is growing, driven by the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. The recycling of fiberglass composites, which include woven roving, thermoplastic fiberglass, and surface mat, presents various challenges. Mechanical recycling is an option for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites, but each has its challenges. The recycling market for fiberglass composites is growing, driven by the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. The recycling of fiberglass composites, which include woven roving, thermoplastic fiberglass, and surface mat, presents various challenges. Mechanical recycling is an option for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Recycling fiberglass composites, which include woven roving, thermoplastic fiberglass, and surface mat, presents various challenges. Mechanical recycling is an option for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites, but each has its challenges. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market. The circular economy vision calls for closed-loop systems, but the current high costs and regulatory landscape limit progress. The fiberglass recycling market is growing due to the demand for lightweight vehicles, electric vehicles, green building initiatives, wind energy, aerospace and defense, and other applications. However, the high recycling costs and regulatory landscape limit the market’s growth potential. Mechanical recycling, thermal recycling, and chemical recycling are the main recycling methods for fiberglass composites. Mechanical recycling is suitable for woven roving and thermoplastic fiberglass, while thermal recycling and chemical recycling are alternatives for other types. Renewable materials offer potential solutions, but their recycling methods and costs must be competitive. Waste disposal regulations and recycling technologies are evolving, creating opportunities for innovation in the fiberglass recycling market.

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Segment Overview 

This fiberglass recycling market report extensively covers market segmentation by

End-user 1.1 Construction1.2 Automotive1.3 Aerospace1.4 Wind energy1.5 OthersType 2.1 Mechanical recycling2.2 Thermal recycling2.3 Chemical recyclingGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Construction-  The construction industry is a major consumer of recycled fiberglass materials, particularly fiberglass mats, which are extensively used in roofing applications. These mats are a preferred choice for residential roofing due to their versatility and cost-effectiveness. Available in a wide range of colors and styles, they cater to various architectural designs and neighborhood aesthetics. Although they may not match the luxurious appearance of high-end materials like wood shakes or natural slate, fiberglass mats have become the standard visual choice for many residential buildings. Thicker architectural shingles can even mimic the look of wood or slate, providing homeowners with more design options. Recycled fiberglass offers superior fire resistance, with a Class A fire rating, making it a suitable choice for areas prone to wildfires. While other fire-resistant materials like metal and slate exist, fiberglass shingles have an edge over organic asphalt and wood shakes and shingles due to their fire resistance. This feature not only enhances safety but also contributes to the durability and longevity of the roofing materials. In commercial construction, recycled fiberglass is valued for its durability and ease of installation. The ability to recycle fiberglass materials into new roofing products supports sustainability goals and reduces the environmental impact of construction projects. Recycled fiberglass mats maintain the same high performance and safety standards as new ones, making them a dependable choice for commercial buildings. These factors contribute significantly to the growth of the global fiberglass recycling market in the construction sector.

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Research Analysis

Fiber-reinforced plastic (FRP), also known as Glass-fiber reinforced plastic (GFRP), is a composite material with excellent strength and durability, widely used in the building and construction and transportation industries. However, the end-of-life management of FRP waste remains a challenge due to the complex composition and low recycling demand. The recycling market for FRP is growing as the circular economy gains momentum and waste management becomes increasingly important. Recycling technologies, such as pyrolysis, mechanical, and chemical methods, are being explored to reduce landfill waste and generate revenue from recycled materials. High recycling costs and the variety of fiberglass types and applications pose challenges, but advancements in technology and increasing regulations on plastic pollution offer opportunities. Renewable materials are also being explored as alternatives to fiberglass in some applications to reduce the overall environmental impact.

Market Research Overview

Fiberglass recycling refers to the process of converting waste from fiber-reinforced plastic (FRP), also known as glass-fiber reinforced plastic, into valuable resources. With the increasing use of FRP in various industries, including building and construction and transportation, the generation of FRP waste is becoming a significant challenge. Recycling technologies, such as mechanical, thermal, and chemical methods, are being explored to reduce landfill waste and increase recycling demand in the engineering sector. Pyrolysis, chemical recycling, and mechanical recycling are common recycling methods for FRP waste. Mechanical recycling involves shredding and melting the waste, while thermal recycling uses high temperatures to break down the materials into their constituent parts. Chemical recycling, on the other hand, involves breaking down the polymers in the FRP waste into their monomers, which can then be reused to produce new FRP products. The circular economy is a key driver for fiberglass recycling, as it promotes the reuse of resources and reduces plastic pollution. Renewable materials and waste disposal regulations are also playing a role in increasing the demand for recycled materials. However, high recycling costs and the need for closed-loop recycling systems are challenges that need to be addressed. Fiberglass recycling has various applications, including the production of new fiberglass composites for use in lightweight vehicles, electric vehicles, wind energy, and aerospace and defense. Different fiberglass types, such as woven roving, thermoplastic fiberglass, and surface mat, have different recycling methods and applications. In conclusion, fiberglass recycling is an essential aspect of the circular economy, and various recycling technologies are being explored to reduce waste and increase the demand for recycled materials. The engineering sector, building and construction, transportation, and renewable energy industries are key areas where fiberglass recycling can make a significant impact. However, challenges such as high recycling costs and the need for closed-loop recycling systems need to be addressed to make fiberglass recycling more economically viable and sustainable.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userConstructionAutomotiveAerospaceWind EnergyOthersTypeMechanical RecyclingThermal RecyclingChemical RecyclingGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Joycollab by Pitch Solution Now Supports More Languages to Boost User Connectivity and Productivity

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SEOUL, South Korea, Oct. 30, 2024 /PRNewswire/ — Pitch Solution has enhanced its Joycollab metaverse office platform by adding English and Japanese language support, alongside the existing Korean interface as part of its global expansion plan. This follows extensive preparations for the Japanese market entry, including local market research, participation in trade shows, usability improvements based on feedback, and engagement with local companies since early 2023.

Launched in South Korea in May 2022, Joycollab enhances remote collaboration for businesses and organizations through a user-friendly 2.5D virtual office. Accessible through PC web browsers and mobile applications, it supports features such as video conferencing (including Zoom), voice and text chat, instant messaging, and avatar gestures. It also provides essential tools such as information board, kanban board, electronic approval system, and Google integrated calendar to increase team productivity and efficiency. The platform also includes a time zone feature, ensuring that remote teams, overseas offices, and customers can collaborate effortlessly regardless of location. 

Building on its success in the APAC region, Pitch Solution participated in the K-Metaverse@Vietnam exhibition in Ho Chi Minh City in September 2024. The event allowed Pitch Solution to explore the Vietnamese market, generate significant interest from local buyers and secure new partnerships.

 An Jung-su, CEO of Pitch Solution, shared his vision for the company’s future, stating, “Along with the Joycollab office platform, we plan to enhance our core technologies and differentiate our services through the integration of Joycollab Community World. This will expand our service offerings, support our entry into overseas markets, and create new business opportunities, driving our growth as a global company.”

To celebrate, Pitch Solution is offering the first 50 companies a free three-month trial of Joycollab’s premium plan. Visit https://jcollab.com/freetrial_EN.html to claim this offer.

Experience Joycollab’s metaverse office home page in English https://jcollab.com/index_EN.html or Japanese https://jcollab.com/index_JP.html and visit https://pitchsolution.co.kr/ to learn more about Pitch Solution.

Contact support@pitchsolution.co.kr or  https://jcollab.com/inquire_EN.html to inquire more about Joycollab or Pitch Solution’s innovative service. 

About Pitch Solution

Founded in February 2020, Pitch Solution Co., Ltd. specializes in collaboration solutions. With over a decade of experience in developing and operating software solutions, the company now focuses on creating immersive collaboration tools and metaverse platforms that meet the needs of the new normal era.

For media inquiries, please contact Jonggeun Park, General Manager, jgpark@pitchsolution.co.kr 

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PingPong Partners with China’s Largest Trade Fair to Empower Global Businesses finding High-Quality Supply Chains

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GUANGZHOU, China, Oct. 30, 2024 /PRNewswire/ — PingPong, one of the leading global cross-border payments platforms for businesses, is proud to officially  announce its role as the cooperative partner of the ‘Trade Bridge’, a trade promotion initiative during the 136th Canton Fair. The multi-day event will feature over 30,000 global companies exhibiting goods, and host more than 130,000 global buyers from over 200 countries and regions.

As a cooperative partner of the Canton Fair’s “Trade Bridge” initiative, PingPong has leveraged its global ecosystem to bring over 300 buyers to the event from around the world, particularly Thailand, Indonesia, South Korea and Vietnam. These buyers can easily connect with top Chinese sellers and screen suppliers, facilitating global trade corridors.

PingPong has also created a platform to match Chinese merchants with high-quality global buyers, facilitating 1-on-1 meetings to support both buyer and seller needs. Additionally, PingPong is hosting three online and offline procurement matchmaking events, opening new opportunities for global expansion.

Earlier this year, Canton Fair’s Trade Bridge signed a comprehensive strategic partnership with PingPong to utilize its global ecosystem to help Chinese businesses expand internationally.

Jianqin Shu,Partner and General Manager of SMB Business Group at PingPong said, “At this year’s Canton Fair, we’ve mobilized local teams, partners, and buyers from around the world, including Vietnam, South Korea, Indonesia and Thailand, forming a delegation of hundreds to meet face-to-face with trade companies. This shows PingPong’s value is more than just in payments, it is a global ecosystem of buyers and sellers. In September, we also led an industry summit in Vietnam with over 4,000 attendees to help businesses access global markets. Going forward, we will continue expanding our network to more countries and regions, offering valuable connections and fostering growth for merchants on our platform.”

One of PingPong’s clients is Thai buyer Sumin Tunpeiroh, who is also a representative at the event. He hopes to source new steel grinding machines for next year’s sales, commenting, “PingPong built an excellent platform, allowing us to engage directly with top companies and discover the newest products.”

PingPong will continue to facilitate trade connections during the second and third phases of the 136th Canton Fair, focusing on matching buyers from Thailand and South Korea with high-quality Chinese suppliers. And PingPong also invited top Vietnamese influencer ZhuZhu and leading Thai beauty blogger PeePee to livestream their exhibition experiences during the fair. These livestreams create in-depth opportunities for foreign trade businesses to connect with international influencers, opening a window to overseas markets and consumers, and helping businesses transform in the digital trade era.

About PingPong

PingPong was founded in New York in 2015, with the goal of solving the immense challenge of scaling enterprise businesses globally. Fast forward to today, and PingPong has become one of the world’s leading global cross-border payments platforms, processing more than $200 billion USD. Our API-first cross-border payments platform integrates with enterprises to send, manage, and receive money faster on a global scale.

PingPong currently has 30 offices spanning 11 countries, with over 1000 employees. Our international presence helps businesses solve complex payment needs in every major economy across all time zones.

About Canton Fair:

As a comprehensive international trading event with the longest history, the largest scale, the most complete exhibit variety, the largest buyer attendance, the most diverse buyer origin and the greatest business turnover in China, Canton Fair is hailed as China’s No.1 Fair and the barometer of China’s foreign trade.

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Garda World Security Corporation Announces Pricing of Previously Announced Offering of US$1 Billion of Senior Notes due 2032

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MONTRÉAL, Oct. 29, 2024 /PRNewswire/ – Garda World Security Corporation (“GardaWorld” or the “Company”), an entrepreneurial-driven corporation focused on building global champions in security services, AI-enabled security technology, integrated risk management and cash automation solutions, announced today the pricing of the private offering (the “Offering”) of US$1.0 billion aggregate principal amount of 8.375% senior unsecured notes due 2032 (the “Notes”). The Offering is expected to close on or about October 31, 2024, subject to the completion of customary closing conditions.

The Company intends to use the net proceeds from the Offering (i) to finance the previously announced conditional redemption of all of its 9.5% senior unsecured notes due 2027 (the “2027 Unsecured Notes Redemption”), (ii) to finance the cash consideration in respect of its previously announced acquisition of the business of Stealth Monitoring, a North American leader in cutting-edge commercial mobile and fixed video monitoring security solutions in the United States and Canada (the “Stealth Acquisition”), (iii) to pay fees and expenses related to the Offering, the 2027 Unsecured Notes Redemption and the Stealth Acquisition, and (iv) with any remaining proceeds, for general corporate purposes, including potential future acquisitions. Pending any specific application of the net proceeds, the Company may use a portion of the proceeds to invest in government securities or cash equivalents.

The Offering will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in the United States only to investors who are reasonably believed to be “qualified institutional buyers,” as that term is defined in Rule 144A under the Securities Act, and pursuant to the prospectus exemption of section 12 of the Securities Act (Québec) for distribution of securities to persons established outside Québec, or outside the United States pursuant to Regulation S under the Securities Act and upon reliance on the accredited investor prospectus exemption in Canada.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the Notes (nor the Company’s 9.5% senior unsecured notes due 2027) in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of securities in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws. The Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or Canada without registration or an applicable exemption from registration requirements or an applicable exemption from the prospectus requirements of Canadian securities legislation.

About GardaWorld

GardaWorld is an entrepreneurial-driven corporation that builds global champions in security services, AI-enabled security technologies, integrated risk management and cash automation solutions, employing more than 132,000 highly skilled and dedicated professionals across the globe. Driven by a relentless entrepreneurial culture and core values of integrity, vigilance, trust and respect, GardaWorld’s global champions offer sophisticated, tailored security and technology solutions through high-touch partnerships and consistently superior service delivery. With a deep understanding that security is critical to the organizational resilience of business operations and the safety of communities, GardaWorld is committed to impeccable governance, professional care and the well-being of everyone. Thanks to a well-earned reputation, GardaWorld businesses are long-standing security partners of choice to some of the most prominent brands, influential individuals, Fortune 500 corporations and governments. For more information, visit gardaworld.com.  

Forward-Looking Statements

Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the applicable securities laws. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GardaWorld’s future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”, “ensure” or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GardaWorld’s future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including the growth management, market competition, cost of financing, key personnel, government regulations, standard customer service contracts, insurance, strikes and other labor protest, supply chain disruptions, information technology system and cybersecurity breaches, operations outside Canada and the United States, cash in circulation and prevailing economic activity, currency fluctuations, credit risk, reputational risk and financial covenants risk, many of which are beyond GardaWorld’s control. While management considers these assumptions to be reasonable based on information currently available to GardaWorld, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what GardaWorld currently expects. The foregoing list of important factors is not exhaustive. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. GardaWorld will not update these statements unless applicable securities laws require GardaWorld to do so.

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SOURCE GardaWorld Security Corporation

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