Glass fiber is a kind of inorganic non-metallic material with excellent performance. It is made of pyrophyllite, quartz sand, limestone and other natural inorganic non-metallic ores by high temperature melting, wire drawing, winding and other processes according to certain formula. It has the advantages of light weight, high strength, high temperature resistance, corrosion resistance, heat insulation, sound absorption and electrical insulation. At present, China has become the world’s largest glass fiber production capacity, and in recent years, a new round of business cycle of glass fiber industry has started, and the growth rate of total profit of the industry will reach a new high in 2020.
China’s glass fiber industry is in the stage of rapid development in recent years. From 2012 to 2020, the annual compound growth rate of China’s glass fiber production capacity will reach 7%, which is higher than the annual compound growth rate of global glass fiber production capacity. Especially in the past two years, with the improvement of the supply and demand relationship of glass fiber products, the downstream application fields continue to expand, and the market boom has picked up rapidly.
Specifically, from 2011 to 2020, the total output of China’s glass fiber yarn has maintained a growth state, the production capacity adjustment effect of glass fiber products is good, and the supply is stable.
In 2020, despite novel coronavirus pneumonia epidemic impact on the global economy, but thanks to the continuous improvement of the whole industry capacity regulation since 2019, and the domestic demand market recovery, there has not been a large scale of serious inventory backlog.
Moreover, with the rapid growth of demand for downstream industries and wind power market segments, all kinds of glass fiber yarn and products have achieved several rounds of price increases since the third quarter of 2020, some glass fiber yarn products have reached or approached the best level in history, and the overall profit level of the industry has improved significantly.
Post time: Jul-07-2021