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The global demand for glass fiber grew by 4.9% in Q4 2021 from Q3 2021; also it grew by 16% as compared to Q4 2020. Glass fiber prices, on an average, increased about 9.3% in Q4 2021 as compared to Q3 2021. Price increase is due to gap in demand and supply. Demand for glass fiber rebounded due to increased demand from end use industries such as PCB, wind energy, construction, and other consumer applications. The last quarter result was positively influenced by a stronger than expected increase in demand, especially from the automotive, aerospace, and construction industry.

In Q1 2022, the global demand for glass fiber is forecasted to increase by 4.3% from Q4 2021. The demand will be strong because the trend of customers ordering more than actual requirement in order to reduce the delay of procurement to avoid ongoing logistic and transportation issues will go on. Glass fiber price is forecasted to increase by 3.2% in Q1 2022 because of the ongoing global supply chain issues, which have made much worse by Omicron the new COVID-19 variant. The figure below depicts the change in demand and price of glass fiber over the past five quarters and one forecast quarter.


Global Quarterly Glass Fiber Shipment and Price Trends

                                                                                                                                                                                                  Source: Lucintel

Figure: Global Quarterly Glass Fiber Shipment and Price Trends


North America

The North American glass fiber market experienced an increase in demand in Q4 2021 from Q3 2021 and it is expected to increase further in Q1 of 2022. Raw material prices continued to increase in Q4 2021 due to supply chain disruption. The price of glass fiber has increased by 9.4% in Q4 2021 as compared to Q3 2021 and it is expected to increase further in Q1 of 2022. Increasing demand and transportation issue created a mismatch in supply and demand for glass fiber, thus creating price hike.

Europe

In Q4 2021, the European glass fiber market registered an increase in demand and this demand will continue grow in Q1 2022 also. The glass fiber demand increased due to rise in demand from primary markets like automotive, aerospace, PCB, construction, and consumer electronics. Price of glass fiber increased in Q4 2021 as compared to Q3 2021, and it is expected to increase further in Q1 2022, this increase is mainly because supply chain disruption.

APAC

In Q4 2021, glass fiber demand grew and it will grow further Q1 2022 as well. The increased demand is due to growth in end use industries such as automotive, aerospace, PCB, construction, and electronics markets. In Q4 2021, glass fiber price jump due to strong demand from various end use industries and shortage in glass fiber supply. With recovery of end use markets, glass fiber producers struggled to match the pace of demand, it takes time to ramp up production once it is down; this resulted in shortage of supply in the market. In addition, delayed shipping and transportation issue made the situation worse.

 

 

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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