As marine economic policies continue to gain momentum, will the fiberglass industry usher in explosive opportunities?

  The fiberglass sector of the stock market ushered in a strong outbreak on July 1st. The closing price of Changhai shares rose by 20%. Zaisheng Technology, Sinoma Technology, Honghe Technology, Shandong Fiberglass, etc. also rose strongly.

Coincidentally, the Central Financial and Economic Commission held its sixth meeting on July 1st to study the issue of promoting high-quality development of the marine economy.

  The meeting pointed out that to promote the high-quality development of the marine economy, it is necessary to strengthen top-level design, increase policy support, and encourage and guide social capital to actively participate in the development of the marine economy. The meeting emphasized that it is necessary to strengthen, optimize and expand the marine industry, promote the standardized and orderly construction of offshore wind power, develop modern deep-sea fishing, develop marine biomedicine and biological products, create marine cultural and tourist destinations, and promote high-quality development of the shipping industry.

  From this we can predict that my country's marine economy will enter a new round of outbreak.

  So, what is the connection between the marine economy and fiberglass?

  The special environment of high salt spray, high humidity and strong corrosion in the ocean has very high requirements for the performance of materials. Traditional materials are generally not up to the task. fiberglass materials are like "hexagonal warriors". With many advantages such as light weight, high strength, corrosion resistance and high cost performance, they have become an important support for the revitalization of the marine economy (such as offshore wind power, photovoltaics, ships, marine infrastructure, etc.). They have broad prospects and great potential.
  In terms of this year's wind power market alone, it is expected to increase conservatively from 80GW in 2024 to 120GW, and the amount of fiberglass required for each GW of wind power installation is about 10,000 tons, which means there is considerable room for growth! As China Jushi said recently in response to investors' questions, in the second quarter of 2025, downstream demand for wind power continued to be strong. The increase in sales of wind power blades, especially large-megawatt blades and offshore wind power blades, has driven the increase in demand for fiberglass.

As we all know, since last year, driven by the steady growth of traditional fiberglass application markets such as home appliances, wind power, and automobiles, the glass fiber industry has begun to bottom out and rebound. After several rounds of price adjustments, the price of glass fiber has improved significantly compared to the low period, and has remained stable and rising.

  In the first half of this year, the fiberglass market was generally stable, and electronic-grade fiberglass was in short supply and rising steadily. On April 15, China Jushi, Taishan Fiberglass and other fiberglass companies issued price adjustment letters at the same time, restoring the prices of electronic yarn and electronic cloth products, and opening the first round of price increases in 2025.

  At the same time, we must also see that due to the rapid release of fiberglass production capacity, we will face the risk of a new round of supply and demand imbalance. According to statistics from the China Glass Fiber Industry Association, from January to May 2025, my country will add 5 glass fiber pool kiln production lines with a capacity of 10,000 tons or more, and the newly added pool kiln capacity will be about 500,000 tons. As of now, the capacity of fiberglass pool kilns in production has exceeded 7.8 million tons. Although the fiberglass industry has entered an upward cycle, the risk of supply and demand imbalance caused by accelerated capacity expansion remains not optimistic.