The global demand for glass fiber grew by 3.5% in Q2 2022 from Q1 2022, and it grew by 12% when compared to Q2 2021. Supply chain disruption fueled the demand for glass fiber, as there was a trend of manufacturers ordering excess materials to avoid logistical issues. Glass fiber prices, on average increased by 5.7% in Q2 2022 as compared to Q1 2022. The price increase is due to high raw material prices, high inflation, and increased logistics and labor difficulties.
In Q3 2022, the global demand for glass fiber is forecast to increase by 3.1% from Q2 2022. The demand will be strong due to the increased demand from pipe & tank and other consumer applications. Glass fiber price is forecast to decrease by 5.4% in Q3 2022 with softening fuel and raw material prices. The figure below depicts the change in demand and price of glass fiber over the past five quarters. The data also provides forecast for Q3 of 2022 as below.
Figure: Global Quarterly Glass Fiber Shipment and Price Trends
The North American glass fiber market experienced an increase in demand in Q2 2022 from Q1 2022, and it is expected to increase further in Q3 of 2022. The glass fiber demand is expected to increase due to the increased demand from the pipe & tank sector. Global supply chain disruption, increased fuel price, and increased price of raw materials resulted in high price of glass fibers in Q2 2022. The glass fiber price is expected to decline in Q3 2022, as raw material prices are expected to soften.
In Q2 2022, the European glass fiber market registered an increased demand, which will continue to grow in Q3 2022 as well. The glass fiber demand increased due to rise in demand from end use markets, like construction and consumer electronics. France registered an increase in privately owned housing starts by 1.1% in Q2 2022 as compared to Q1 2022. Price of glass fiber increased in Q2 2022 as compared to Q1 2022, this increase is mainly because of high logistics and raw material cost due to Russia – Ukraine war.
In Q2 2022, the glass fiber demand grew in APAC, and it will grow further in Q3 2022 as well. The increased demand is due to the heavy investments in infrastructure and growth in end use industries, such as construction market. Japan registered an increase in privately owned housing starts by 8.18% in Q2 2022 as compared to Q1 2022. In Q2 2022, the glass fiber price jump was due to rising raw material costs and difficulty in glass fiber supply. Glass fiber producers struggled to match the pace of demand, which resulted in shortage of supply in the market.
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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