Analysis of China's Fiberglass Industry for 2008

Tag : fiberglass industry


In 2007, China's total output of fiberglass was 1.6 million tons,an increase of 37.8 per cent year-on-year, and accounting for 37.1per cent of the global output of fiberglass. The export volume ofChina's fiberglass was 1.085 million tons, an increase of 37.3 percent year-on-year, and accounting for 28.8 per cent of the world'stotal fiberglass output. Now China's fiberglass capacity hasovercome the United States as the world's largest fiberglassproducer.

During Jan-Apr 2008, China produced 476,000 tons of fiberglass, anincrease of 42 per cent year-on-year; the growth of fiberglassexport volume was 61.5 per cent year-on-year, the growth offiberglass export amount was 69.1 per cent year-on-year.

Along with China's economic development and the development ofenergy-saving materials, particularly the rapid increasing pace onthe new energy, military industry, automobile, aerospace etc, thedomestic consumption of fiberglass has grown fast. During 2001 to2007, the compound annual growth rate of domestic consumption offiberglass reached 24 per cent, the domestic apparent consumptionof fiberglass from 103,000 tons to 515,000 tons.

In 2008, the profitability of China's fiberglass industry has stillmaintained a rapid growth, during Jan-Feb 2008, the sales growth oflarge-scale enterprises was 37.8 per cent year-on-year, 41.2 percent year-on-year increasing of total profit.

The capacity of China's Alkali-free fiberglass has been increasedsignificant in mid and high grade products, the output of furnacesfiberglass from 56,000 tons in 2001 to 1.16 million tons in 2007,of which that the output proportion of the whole fiberglass from 24per cent in 2001 to 73 per cent in 2007.

Along with the huge investments in the furnaces fiberglass byleading enterprises, the concentration of fiberglass industry hasgrown quickly. At present, the top three fiberglass manufacturersJushi Group, Chongqing Polycomp International Corp (CPIC), TaishanFiberglass INC accounts for 53 per cent of the China's fiberglasstotal output and 74 per cent of China's furnaces fiberglass totaloutput; Jushi Group's four production lines with 380,000 tonscapacity will on stream in 2008, thus, the proportion will rise toover 80 per cent.