In 2020, the national output of glass fiber will reach 5.41 million tons, compared with 258000 tons in 2001, and the CAGR of China’s glass fiber industry will reach 17.4% in the past 20 years. From the import and export data, the export volume of glass fiber and products nationwide in 2020 was 1.33 million tons, a year-on-year decline, and the export volume in 2018-2019 was 1.587 million tons and 1.539 million tons respectively; The export volume was 188000 tons, maintaining a normal level. On the whole, China’s glass fiber output has continued to grow at a high speed. In addition to the decline in exports affected by the epidemic in 2020, exports in previous years have also maintained a rapid growth; Imports remained at about 200000 tons. China’s glass fiber industry’s export volume accounts for the proportion of output, while the import volume accounts for the proportion of consumption, which is decreasing year by year, indicating that China’s glass fiber industry’s dependence on international trade is decreasing year by year, and its influence in the international industry is increasing.
The average growth rate of the glass fiber industry is generally 1.5-2 times of the GDP growth rate of the country. Although China has surpassed the United States to become the largest producer and consumer of glass fiber in recent years, its mature and widely used downstream fields are only one tenth of those in the United States.
As glass fiber is an alternative material, product innovation and new application discoveries continue. According to the data of the American Glass Fiber Composite Industry Association, the global glass fiber composite market is expected to reach US $108 billion in 2022, with an annual growth rate of 8.5%. Therefore, there is no ceiling board in the industry, and the total scale is still growing.
The global fiberglass industry is highly concentrated and competitive, and the multi oligarch competition pattern has not changed in the past decade. The annual glass fiber production capacity of the world’s six largest glass fiber manufacturers, Jushi, Owens Corning, NEG, Taishan Glass Fiber Co., Ltd., Chongqing International Composite Materials Co., Ltd. (CPIC), and JM, account for more than 75% of the world’s total glass fiber production capacity, while the top three glass fiber enterprises have about 50% of the capacity.
From the domestic situation, the newly increased capacity after 2014 is mainly concentrated in several leading enterprises. In 2019, the glass fiber yarn capacity of China’s top 3 enterprises, China Jushi, Taishan Glass Fiber (a subsidiary of Sinoma Science and Technology) and Chongqing International accounted for 34%, 18% and 13% respectively. The total capacity of the three glass fiber manufacturers accounted for more than 65% of the domestic glass fiber capacity, and further increased to 70% by 2020. As China Jushi and Taishan Glass Fiber are both subsidiaries of China Building Materials, if the future asset restructuring is completed, the combined production capacity of the two companies in China will account for more than 50%, and the concentration of the domestic glass fiber yarn industry will be further improved.
Glass fiber is a very good substitute for metal materials. With the rapid development of the market economy, glass fiber has become an indispensable raw material in the construction, transportation, electronics, electrical, chemical, metallurgy, environmental protection, national defense and other industries. Because of its wide application in many fields, glass fiber has been paid more and more attention. The major producers and consumers of glass fiber in the world are mainly the United States, Europe, Japan and other developed countries, whose per capita consumption of glass fiber is high.
In recent years, the National Bureau of Statistics has listed glass fiber and glass fiber products in the Catalog of Strategic Emerging Industries. With the policy support, China’s glass fiber industry will develop rapidly. In the long run, with the strengthening and transformation of infrastructure in the Middle East and the Asia Pacific region, the demand for glass fiber has increased significantly. With the continuous growth of global demand for glass fiber in glass fiber modified plastics, sports equipment, aerospace and other aspects, the prospect of the glass fiber industry is optimistic.
Post time: Nov-25-2022