The global demand for glass fiber increased by 8.2% in Q4 2020 from Q3 2020, while it grew by 5% when compared to Q4 2019. Glass fiber prices, on an average, increased about 1.7% in Q4 2020 when compared to Q3 2020. The fourth quarter result was positively influenced by a stronger than expected increase in demand, especially from the automotive industry particularly in the month of December. The figure below depicts the change in demand and the price of glass fiber in the past five quarters.
Source: Lucintel
Figure 1: Global Quarterly Glass Fiber Shipment and Price Trends
North America
The North American glass fiber market experienced increase in demand in Q4 2020 from Q3 2020 with the increase in demand from various end use industries including, automotive, marine, and construction. Raw material prices started increasing in the third quarter 2020 from their lowest point in April. The price of glass fiber increased by more than 2% in Q4 2020 compared to Q3 2020.
The North American glass fiber market recovered in Q3 2020 from Q2 2020 with the increase in demand from various end use industries including, automotive, marine, and construction. The resumption of operations by major OEMs and related business activities resulted in a recovery of the supply chain, lessening the impact of COVID-19. Glass fiber demand continued to recover across various end use industries like transportation, housing & infrastructure, and marine. Companies in this sector began functioning normally during the third quarter of 2020, which resulted in increased demand and stable supply.
Europe
In Q4 2020, the European glass fiber market registered increase in demand from primary markets like automotive, marine, and construction. In Q3 2020, the European glass fiber market registered a significant increase in demand from primary markets like automotive, marine, and construction. Increase in demand from these industries started in Q3 2020 after hitting the bottom in Q2 2020. Auto sales grew by double digits in Q3 2020 compared to Q2 2020, which showed a positive impact on glass fiber demand.
APAC
In Q4 2020, demand for glass fiber started moving upward as consumers shook off their coronavirus caution in Q3 2020. Glass fiber demand increased in last quarter of this year due to increase in export orders and resuming global production in the major end use industries like automotive, construction and, PCBs.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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