What is the trend of the glass industry in 2024

The trend of the glass industry in 2024 shows certain fluctuations and adjustments. ‌
Firstly, from the perspective of the photovoltaic glass industry, the industry is still in a period of rapid growth, especially the anti reflective film glass (AR coated glass) and ultra white embossed glass mainly used in crystalline silicon photovoltaic cells, as well as the transparent conductive oxide film glass (TCO) used in thin-film photovoltaic cells, which are driving the development of the industry. The upstream raw materials of the photovoltaic glass industry chain, such as soda ash and quartz sand, as well as fuel and power such as oil, natural gas, and electrical, are all supporting the sustained growth of the industry. In addition, policies issued by multiple departments such as the National Development and Reform Commission, the State Council, the National Energy Administration, and the Ministry of Industry and Information Technology at the national level to support the development of photovoltaics and photovoltaic glass have also provided strong support for the industry's development
However, the prosperity of the float glass and soda ash industries declined in the first half of 2024. The weak demand for float glass and the internal and external difficulties in the market have led to a rapid decline in the industry's prosperity. The specific manifestations include a decrease in the number of domestic stock projects and obstacles to exports, sluggish demand in the deep processing market, intensified industry competition, and some enterprises starting to sell idle equipment, leading to a reshuffle mode in the industry. The soda ash industry is also facing the problem of demand growth not being as fast as supply growth, which makes it difficult to maintain the industry's high prosperity
From the perspective of market demand, the sluggish demand for glass, the problem of oversupply, and the high inventory of raw materials in glass factories are the main reasons for the price decline. Although the traditional peak consumption season of "Golden September and Silver October" has the potential to improve glass demand, there is still insufficient terminal demand. The capacity utilization rate and new order days of glass deep processing enterprises, which are directly downstream of float glass, are also significantly lower than the same period last year, indicating the pressure of market adjustment
In summary, the trend of the glass industry in 2024 presents a coexistence of sustained growth in the photovoltaic glass industry and adjustments in the float glass and soda ash industries. The development of the photovoltaic glass industry has benefited from the support of national policies and the growth of market demand, while the float glass and soda ash industries are facing challenges of declining demand and intensified industry competition.