Recently, China Jushi said in a survey that it is expected that the domestic demand for fiberglass yarn for wind power will return to about 1.2 million tons this year, and Jushi will occupy a high market share. In the field of new energy vehicles, the amount of PCB board consumption in new energy vehicles has increased significantly compared with traditional fuel vehicles, which has strongly stimulated the market demand for electronic cloth; The reused glass fiber composite also adds at least a few kilograms to each vehicle. In general, the penetration rate of fiberglass in the field of new energy has steadily increased, and there is still a lot of room for growth in demand.        

It is understood that the new energy field is expected to drive the demand for glass fiber beyond expectations:

1) Wind power: On April 16, the G7 joint communiqué promised to increase the installed capacity of offshore wind power to 150GW in 2030 (about 22GW by the end of 2022), which is expected to boost the demand for fiberglass in the wind power field. 

2) Photovoltaic: Zhenshi Group obtained the world's first composite frame certificate for photovoltaic modules, opening up a new track for photovoltaic composite materials, and the demand for fiberglass for photovoltaic frames is expected to reach one million tons in the next five years. 

3) New energy vehicles: PCB consumption is 3-4 times that of traditional vehicles, and the increase in the penetration rate of new energy vehicles has driven the growth of fiberglass demand.