Fiberglass Industry Trends: Advancing Towards Premiumization and Intelligence
In recent years, the fiberglass industry has exhibited robust growth globally, with China particularly standing out. As a crucial inorganic non-metallic material, fiberglass, known for its insulation, heat resistance, and corrosion resistance, finds extensive applications in sectors such as construction, transportation, wind power, and electronics. With technological advancements and evolving market demands, the fiberglass industry is trending towards premiumization and intelligence.
According to the latest data, China holds a significant position in the global fiberglass industry, being the largest producer and exporter. In recent times, influenced by factors like slow market demand recovery, China's fiberglass capacity has been in a state of oversupply. However, with the country's emphasis on high-quality development of the green building materials industry and the release of policies like the "Guiding Catalogue for Industrial Restructuring (2024 Edition)," the fiberglass industry is welcoming new development opportunities.
Guided by policies, the fiberglass industry is gradually phasing out low-end capacity and vigorously developing high-performance fiberglass products. Notably, electronic-grade fiberglass cloth, a vital raw material for copper-clad laminates, has become a fundamental material in the electronics industry. With the global promotion of 5G technology and the gradual maturation of 6G technology, electronic cloth faces favorable growth prospects. Industry experts predict that future electronic products will trend towards larger capacities and higher speeds, demanding new performance requirements for electronic cloth, necessitating manufacturers to develop and produce high-frequency, high-speed electronic-grade fiberglass cloth.
On the demand side, while major application markets like construction materials and wind power experienced sluggish demand in the first three quarters of 2023, the normalization of inventory levels within the electronic industry supply chain, coupled with demand from automotive electronics, servers, communications, and other high-end consumer markets, led to a slight rebound in fiberglass electronic yarn and electronic components. This trend has continued into 2024, especially in the third quarter, where electronic cloth industry product prices recovered somewhat, with notable growth in demand for some mid-to-high-end products.
Furthermore, the intelligent development of the fiberglass industry is noteworthy. In recent years, with continuous advancements in intelligent manufacturing, digital empowerment, and energy-saving technologies, domestic fiberglass enterprises are continuously enhancing the intelligent management level of their products. For instance, Qianjiang District is developing a fiberglass composite material industrial park focused on high-performance fiberglass and high-end fiberglass wind power yarn, while adopting various measures to encourage enterprises to strengthen research and development, advance intelligent manufacturing, and continuously improve the competitiveness of fiberglass products.
In the global market, China's fiberglass industry export scale continues to grow. Despite challenges such as global economic inflationary pressures and the return of European and American real economies, the cost-competitive advantages formed by domestic enterprises in intelligent manufacturing and energy-saving emissions reduction have made Chinese fiberglass products competitive in the international market.
Looking ahead, the fiberglass industry will continue to trend towards premiumization and intelligence. On one hand, with the release of demand from downstream industries such as automotive lightweighting, 5G, wind power, and photovoltaics, the revenue scale of fiberglass and product enterprises is expected to resume growth. On the other hand, with continuous technological advancements and evolving market demands, the fiberglass industry will need continuous innovation and upgrading to meet customer demands for high-performance, high-quality products.
In summary, the fiberglass industry is embracing new development opportunities and challenges. Driven by policy guidance and market demand, the industry is advancing towards premiumization and intelligence, continuously promoting industrial upgrading and development.
