China's glass fiber fabric industry has been experiencing rapid growth in recent years, driven by a rising demand for lightweight and high-performance composite materials. Glass fiber fabric, which is made from strands of glass fibers woven or knitted into a flexible fabric, is a key material used in the production of composite products for different applications such as aerospace, transportation, electricals and electronics, and construction.
According to the China Glass Fiber Fabric Market Research Report 2017, the Chinese glass fiber fabric market was valued at US$3.3 billion in 2016 and is expected to reach US$5.1 billion by 2022, growing at a compound annual growth rate (CAGR) of around 7.4% during the forecast period. The report attributes this growth to various factors, including the increasing usage of composite materials in various industries and the development of advanced glass fiber fabric technologies.
One of the major drivers of growth in China's glass fiber fabric industry is the aerospace sector. The aerospace industry is increasingly using composite materials made from glass fiber fabric due to their high strength-to-weight ratio and resistance to harsh environments. With China's aerospace industry growing rapidly in recent years, there has been a corresponding surge in the demand for glass fiber fabric. Furthermore, as the country gears up for the production of its first domestically-built passenger jet, the C919, the demand for glass fiber fabric is set to soar.
Another key factor driving the growth of the Chinese glass fiber fabric industry is the automotive sector. The trend among automakers worldwide is towards lightweighting, and glass fiber fabric is a primary material used to achieve that objective. Lightweight composites made from glass fiber fabric are being deployed in vehicles to reduce fuel consumption and emissions while improving performance and safety. The Chinese automotive industry is rapidly expanding, and the increasing demand for lightweight composites is creating significant opportunities for the glass fiber fabric market.
The report by Absolute Reports also highlights the growing importance of technological innovation in the glass fiber fabric industry in China. This includes the development of new glass fiber fabric products using advanced manufacturing techniques such as resin transfer molding (RTM), infusion and prepreg. RTM, for instance, is a process that enables the production of more complex shapes and dimensions of glass fiber fabric using less material while achieving significant cost savings. The growth of the Chinese glass fiber fabric market is also being boosted by the increasing use of eco-friendly and sustainable raw materials for manufacturing. This aligns with the Chinese government's push for green development and sustainable production practices.
In conclusion, the Chinese glass fiber fabric market is poised for substantial growth in the coming years, driven by the increasing demand for lightweight, high-performance composites in various industries. As China continues to expand its manufacturing and technological capabilities, the country is expected to strengthen its position as a leading producer of glass fiber fabric products. With advancements in technology, the use of eco-friendly raw materials, and growing investment in research and development, the future outlook for the glass fiber fabric industry in China is very promising.