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German media: if natural gas is no longer imported from Russia, all glass factories in Germany will shut down
According to Eurostat, Germany is the largest consumer of Russian natural gas among EU Member States, accounting for 58.9% of Germany’s total natural gas demand. According to the statement of the German Federal Glass Manufacturers Association, if natural gas is no longer imported from Russia, all glass factories in Germany will be shut down, which will not only cause losses in glass production, but also lose all equipment investment in the factory. The head of GMB pointed out that the plant shutdown will affect the whole of Europe because it is the only manufacturer of structured solar glass in the region.
To produce glass, raw materials need to be heated and maintained at a high temperature of 1600 degrees Celsius. This production process requires a lot of energy. At present, most glass manufacturers in Germany rely on natural gas imported from Russia to maintain their operation.
According to the statement of the German Federal Glass Manufacturers Association, if natural gas is no longer imported from Russia, all glass factories in Germany will be shut down, which will not only cause losses in glass production, but also lose all equipment investment in the factory.
The head of GMB pointed out that the plant shutdown will affect the whole of Europe because it is the only manufacturer of structured solar glass in the region.
According to Eurostat, Germany is the largest consumer of Russian natural gas among EU Member States, accounting for 58.9% of Germany’s total natural gas demand.
With the recent EU sanctions against Russia, natural gas prices have soared, affecting German food, medicine, automobile, construction and other industries.
According to the statistics of the German Chamber of Commerce and industry, nearly 80% of German enterprises have said that they have been affected by the rise of energy prices, and 10% said that the surge of energy costs has led to the serious deterioration of their financial situation.
2.South Korea continues to impose 36.01% anti-dumping duty on float glass from China
According to order No. 913 of the Ministry of planning and finance of the Republic of Korea, the Republic of Korea continues to impose 36.01% anti-dumping duty on float glass imported from China. The measure will take effect from August 31, 2021 and will be valid for five years.
3.It is estimated that the global automotive glass market will reach US $22.7 billion by 2027
According to the latest report of imarc group entitled “industry trend, share, scale, growth, opportunities and forecast of global automotive glass market from 2022 to 2027”, the value of global automotive glass market has reached US $16.2 billion in 2021. Looking ahead, imarc Group expects the market to reach US $22.7 billion by 2027, with a CAGR of 5.8% from 2022 to 2027.
4.Jinjing Glass achieved 6.921 billion Yuan sales in 2021
According to the annual report disclosed by Jinjing technology on the evening of April 11, the company achieved an operating revenue of 6.921 billion yuan and a net profit of 1.307 billion yuan in 2021, with a year-on-year increase of 41.72% and 295.1% respectively. However, the first quarterly reports disclosed by Jinjing technology and industry leading Qibin group showed revenue growth and net profit decline. Huatai Securities believes that this is related to the sharp rise in the cost side and the decline in the price of float glass.
Looking forward to 2022, Jinjing technology believes that the demand for building glass is entering a stable period, and energy-saving products will gradually replace ordinary building glass; Photovoltaic glass will achieve sustainable growth.
On April 12, Chen Sheng, President of China real estate data research institute, also mentioned in an interview with the reporter of Securities Daily, “there are still good opportunities for the glass industry as a whole this year. Under the background of double carbon target, new glass such as energy-saving glass will have better market space.”