China to be world's fastest growing market of glass fiber

China will be the world's fastest growing market of glass fiber in the future, China's domestic demand is expected to reach 2.52 million tons in 2015, accounting for 43 percent of global share. Growth rate of China's apparent consumption of glass fiber reached 25 percent from 2004 to 2010, much higher than global level. China’s import growth of glass fiber yarn was 75 percent after the financial crisis, while export growth was 22 percent, in the meantime, one after another domestic product began to replace export market. China's demand of glass fiber is expected to reach 2.52 million tons in 2012, China's proportion of global demand will increase from current 36 percent to 43 percent, and China will become the world's largest producer and consumer of glass fiber. But from the supply point of view, domestic production will only increase over 100,000 tons this year, the "Twelfth Five-Year Plan" marks out that China's production will increase to 2.8 million tons, therefore the growth rate is well below demand growth.