Glass fiber is a good substitute material for metal materials. With the rapid development of market economy, glass fiber has become an essential raw material for construction, transportation, electronics, electrical, chemical, metallurgy, environmental protection, national defense and other industries. As it is widely used in many fields, glass fiber has been paid more and more attention. Global fiberglass production and consumption are mainly the United States, Europe, Japan and other developed countries, whose per capita consumption of fiberglass is high.
The rapid development of China's glass fiber industry in recent years is driven by the domestic and foreign markets. The expansion of international market is not only due to the growth of total demand, but also due to the development space left for domestic enterprises in the international market after international enterprises quit the industry due to low profit margin in the early stage. The growth of the domestic market is due to the rapid development of the downstream consumer industry.
The year 2020 was a crisis year for the composites industry due to the impact of the epidemic, and the development process was full of challenges, but the outlook for 2021 appears to be even brighter.
In the fourth quarter of 2020, the U.S. fiberglass market remained strong, with a growth rate of approximately 5 percent in November compared to November 2019.
Wind power, electrical and electronics, and construction are still doing well, which is good news for heat-resistant insulation products such as fireproof sleeve, high-temperature jackets, and fiberglass fabrics.