580,000 tons of new fiberglass production capacity in the first half of 2022

Glass fiber production capacity in the first half of 2022

1. Glass fiber roving/yarn

In the first half of 2022, the cumulative output of glass fiber yarn in my country increased by 9.9% year-on-year, of which the output in June increased by 6.8% year-on-year. Affected by the energy policy, there have been fewer new kiln projects in the industry from the second half of last year to the first quarter of this year, and the industry has maintained a slow and moderate growth momentum for two consecutive months. However, as the subsequent new construction projects of pool kilns have successively passed energy approvals, the number of newly built pool kilns that have been put into production in the second quarter has gradually increased. According to survey statistics, in the first half of the year, my country's new glass fiber production capacity was 580,000 tons, and there are still about 700,000 tons of production capacity under construction in the second half of the year. Therefore, the overall market supply and demand relationship will continue to be under pressure.

2. Glass fiber products

In terms of mat cloth products for reinforcement, in the first half of the year, the total installed capacity of wind power generation nationwide was 12.94 million kilowatts, a year-on-year increase of 19.4%; the investment in completed wind power projects was 56.7 billion yuan, a year-on-year decrease of 31.4%. In the first half of the year, the demand for wind power fabrics dropped slightly, but considering the long-term benefits brought about by the implementation of the national "dual carbon" goal, and the superimposed wind power machine industry to strengthen the glass fiber raw material supply chain to ensure the impact of demand driven, the recent wind power ECR direct roving and wind power fabric production capacity Strong desire to expand.

In terms of industrial fiberglass mat products, the national real estate development investment in the first half of the year was 6,831.4 billion yuan, a year-on-year decrease of 5.4%. Among them, residential investment was 5,180.4 billion yuan, down 4.5%. Affected by the macro-control of real estate and the continued downturn in the market, the fiberglass products for various building insulation and decorative were relatively sluggish. At the same time, in the first half of the year, the output of new energy vehicles was 2.748 million, a year-on-year increase of 111.2%. Driven by the rapid development of domestic new energy vehicles, the demand for various types of insulating glass fiber products continued to rise against the trend.

In terms of electronic mat products, in the first half of the year, the national output of integrated circuits was 116.1 billion pieces, down 6.3% year-on-year, the production of mobile phones was 744 million units, down 2.7% year-on-year, and the output of microcomputers was 212 million units, down 5.0% year-on-year. Affected by a combination of factors such as chip supply shortage, declining market demand, supply chain obstruction and high energy costs, the price and sales of glass fiber electronic cloth products in the first half of the year were generally in a downward range.

3. Glass fiber reinforced composite products

In the first half of 2022, the cumulative output of glass fiber reinforced plastic products in my country's designated enterprises increased by 7.67% year-on-year, of which the monthly output in June increased by 20.3% year-on-year. Under the circumstances that raw material prices are still high, demand in the mid-to-high-end market continues to be sluggish, and the new crown epidemic continues to affect, the composite material industry has three months of production growth in the first half of the year. Maintained at or below 3.1%. With the improvement of the epidemic situation and the rapid decline in the prices of glass fiber raw materials, the monthly output growth rate of the composite materials industry has accelerated significantly.

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