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Comparison of glassfiber market development in 2022
June 26, 2022
The production capacity growth of glass fiber enterprises in Europe and the United States has slowed down, and the domestic glass fiber industry is booming
Overseas glass fiber enterprises have been developing for decades. By virtue of continuous enhancement of independent innovation capabilities and increased investment in technology research and development, Chinese glass fiber enterprises have significantly surpassed foreign enterprises in terms of production technology and technical level. Chinese enterprises represented by China Jushi are even more It is in a leading position in the core technical fields of large-scale kiln construction, large leakage plate processing, pure oxygen combustion, infiltrating agent and glass formulation.
The global fiberglass composite market is expected to reach $108 billion in 2022, with an annual growth rate of 8.5%, and the industry is in an overall upward period. The domestic glass fiber market exceeds 100 billion yuan. In 2021, the main business income of China's glass fiber industry will reach 124.4 billion yuan.
The current market pattern is that the production capacity growth of glass fiber enterprises in Europe and the United States has slowed down, and the domestic glass fiber industry is booming. In 2021, my country's total domestic glass fiber production capacity will be 6.24 million tons, accounting for more than 60% of the global total. China has become the world's largest fiber glass manufacturer.
The glass fiber industry has a high entry barrier, and it is difficult for new entrants to acquire the core technology of glass fiber production through technology transfer, so the industry is characterized by a high degree of concentration. In the world, the production capacity of CR6 (top 6) glass fiber enterprises accounts for more than 75% of the total global production capacity, namely:
Three of the world's top six glass fiber companiesare located in China, and the annual production capacity of these three glass fiber companies accounts for more than 70% of the total domestic production capacity. As the world leader in glass fiber, China Jushi has a production capacity of over 2.4 million tons of fibreglass materials (including 296,000 tons of foreign production capacity) as of June 2022. The company has a domestic market share of 40% and a global market share of 24%.
In addition to China, China Jushi also has production bases in the United States, Egypt, India and other countries, of which the American branch has turned losses into profits in 2021. The United States will introduce an infrastructure bill at the end of 2021, which will invest more than 110 billion US dollars in the renovation and maintenance of bridges and highways.
China Jushi has core competitiveness in terms of scale, brand, cost, innovation and layout. For example, it has a product with the highest modulus in the global glass fiber industry: E9 ultra-high modulus glass fiber with a modulus of over 100GPa, currently the only one in the world.
The higher the modulus, the greater the strength. The wind power blades made of glass fiber can only be up to 84 meters in length before. After the E9 is launched, its wind power blades can reach up to 90 to 100 meters in length. Fiberglass ECR roving products can be used in the manufacture of large-scale wind blades, optical cable strength cores, aircraft parts, automobile manufacturing, temperature-resistant materials, sports equipment and other products, and have broad application scenarios in wind power, new infrastructure, 5G, transportation and other fields.
