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In 2011, the global glass fiber supply hit 4.88 million tons, and the demand reached 4.66 million tons, according to a new report from Research and Markets. Driven by the demand in emerging markets, the global supply is expected to grow by more than 8% to 5.30 million tons, and demand will amount to 4.94 million tons at a growth rate of 6% in 2012.
With the transfer of the industry, China has reportedly become the world’s largest producer of glass fiber. In 2011, China produced 3.72 million tons of glass fiber, accounting for 76% of the global total. China’s glass fiber output will grow to 4.30 million tons in 2012, sharing 81% of the global output. As 16 Chinese fiber glass kilns enter the cold repair period and backward capacity is eliminated, Chinas glass fiber capacity is expected to fall by approximately 250,000 tons in 2013. With the realization of new capacity and the rebounding of downstream demand, production will resume its growth during 2014-2015.
For additional information, visit www.researchandmarkets.com.