Status and Prospect Analysis of Fiberglass Industry 2023

In recent years, the National Bureau of Statistics has included glass fiber and glass fiber products in the "Strategic Emerging Industries Classification" catalog. With policy support, my country's glass fiber industry will develop rapidly. In the long run, the strengthening and transformation of infrastructure in the Middle East and Asia-Pacific will increase the demand for glass fiber by a large amount. With the increasing global demand for glass fiber in glass fiber modified plastics, sports equipment, aerospace, etc., The prospect of glass fiber industry is optimistic.

Fiberglass Overview

Fibreglass is an inorganic non-metallic material with excellent performance. There are many kinds. The advantages are good insulation, strong heat resistance, good corrosion resistance and high mechanical strength, but the disadvantages are brittleness and poor wear resistance. The glass fiber is often used as reinforcing material of composite material, electrical insulation and heat insulation materials, substrate and other national economy fields.

Glass fiber is made of pyrophyllite, quartz sand, limestone, dolomite, boronite, and boronite as raw materials through high-temperature melting, wire drawing, winding, and weaving. The diameter of the single filament is A few microns to more than 20 microns, which is equivalent to 1/20-1/5 of a hair, and each bundle of fiber precursors is composed of hundreds or even thousands of single filaments.

Fiberglass raw material and its application: Fiber glass has higher temperature resistance than organic fiber, non-flammable, anti-corrosion, good heat insulation and sound insulation, high tensile strength, and good electrical insulation. But it is brittle and has poor wear resistance. It is used to make reinforced plastic or reinforced rubber. As a reinforcing material, glass fiber has the following characteristics. These characteristics make the use of glass fiber far more extensive than other types of fibers, and the development speed is far ahead.

In 2021, my country's glass fiber output will reach 6.24 million tons, a year-on-year increase of 15.2%. Among them, the total output of pool kiln yarn in 2021 will reach 5.8 million tons, a year-on-year increase of 15.5%.

According to the shape and length of glass fiber, it can be divided into continuous fiber, fixed length fiber and glass wool; according to the glass composition, it can be divided into alkali-free, chemical resistance, high alkali, medium alkali, high strength, high elastic modulus and alkali resistance ( Alkali-resistant) glass fiber, etc. In 2020, the proportion of raw materials for glass fiber and its products is about 34.19%, and the manufacturing cost is 32.48% (mainly depreciation expenses).

According to the analysis of "2022-2027 Glass Fiber Market Investment Prospect Analysis and Supply and Demand Pattern Research Forecast Report" by China Research Institute of Industry Research:

The diversity of glass fiber determines the diversified development of glass fiber reinforced materials. At present, there are more than 5,000 kinds of glass fiber applications in the world, with more than 60,000 specifications and uses. The varieties and specifications are developing rapidly at an average annual growth rate of 1,000-1,500. The variety of glass fibers also determines the diversity of glass fiber reinforced materials. change.

Glass fiber reinforced materials can be divided into glass fiber yarn reinforced composite materials and glass fiber mat reinforced composite materials according to the type of reinforcement materials; according to the different matrix resins, they can be divided into glass fiber reinforced thermosetting composite materials and glass fiber reinforced thermoplastic composite materials. Glass fiber reinforced thermosetting composites are mainly based on thermosetting resins such as unsaturated polyester resins, epoxy resins, phenolic resins, vinyl ester resins, etc., and the thermoplastics are mainly polypropylene resin (PP) and polyamide (PA). Diversified glass fiber reinforced materials have different properties, laying the foundation for adapting to the needs of different fields.

Current status of glass fiber industry

At present, the world glass fiber industry has formed a complete industrial chain from glass fiber, glass fiber products to glass fiber composite materials. Traditional industrial fields such as automobile manufacturing and emerging fields such as aerospace, wind power generation, filtration and dust removal, environmental engineering, and marine engineering.

Glass fiber is a new material industry encouraged by the state. In recent years, domestic glass fiber production has maintained growth, and my country has become a major producer of glass fiber. According to data, my country's glass fiber production will be 6.24 million tons in 2021, a year-on-year increase of 15.3%, accounting for 65.68% of the global glass fiber production.

According to the statistics of China Fiberglass Industry Association, in 2012, the total output of glass fiber yarn in my country was 2.88 million tons (of which the output of pool kiln yarn was 2.52 million tons); in 2021, the total output of glass fiber yarn was 6.24 million tons (of which the output of pool kiln yarn was 5.8 million tons). 10,000 tons), the industry's main business income reached 124.4 billion yuan. In the past ten years, the glass fiber industry has entered a new stage of development from large to strong.

The main barriers of the glass fiber industry are reflected in policy, capital, technology and other aspects. The industry has high entry barriers and the market supply is concentrated. According to data, in 2021, my country's glass fiber CR3 will exceed 60%, and CR5 will be 81%. At present, a virtuous circle of top companies has formed: the lower the cost of the company, the higher the profit margin, and the excess returns are conducive to reducing corporate debt, refinancing, technological upgrading, and capacity expansion, thereby further reducing costs and occupying a larger market share. Therefore, the overall structure of my country's glass fiber industry is relatively stable.

The scale effect of the leader in the glass fiber industry is obvious, but each has its own focus, forming differential positioning in different segments. For example, China's Jushi roving production capacity ranks first in the world, Jushi and Taishan have obvious advantages in the field of wind power yarns, Guangyuan New Materials, Honghe Technology, and Kunshan are in the leading position in the field of electronic yarn/cloth, and Changhai shares occupy the main market in the field of glass fiber composite materials .

According to China Customs data, the import volume of China's glass fiber and its products will reach the maximum in 2017 from 2016 to 2021, and the import value will reach the maximum in 2021; the average unit price of China's glass fiber and its products will increase in 2019 from 2016 to 2021 In 2020, the average unit price of China's glass fiber and its products will drop the fastest, falling by 13.9%.

In August 2022, the import volume of China's glass fiber and its products was 10,200 tons, a year-on-year decrease of 24.6%, and the import value was US$76 million, a year-on-year decrease of 9.4%. From January to August 2022, the import volume of China's glass fiber and its products was 8.61 10,000 tons, the import value is 630 million US dollars.