Industry Overview - The wind power yarn industry in China is experiencing growth driven by the large-scale development of offshore wind power and the increasing size of wind turbine blades, with the diameter expected to reach 180 meters by 2025 [1][11] - In 2024, the market size of China's wind power yarn industry is projected to be 64.93 tons, representing a year-on-year growth of 16.97% [11] - High modulus glass fiber (modulus > 85 GPa) is seeing a continuous increase in demand, with products like China Jushi's E9 glass fiber (modulus 96 GPa) achieving mass production [1][11] Industry Development History - The industry has gone through four stages: initial development in the 1990s, rapid growth from 2000 to 2010, stable development from 2010 to 2020, and high-quality development from 2020 to present [4][5] - The introduction of the Renewable Energy Law in 1997 laid the legal foundation for the wind power industry, indirectly boosting the demand for wind power yarn [4] - The period from 2010 to 2020 saw significant advancements in technology, with domestic companies achieving breakthroughs in core technologies and producing high modulus yarns [4] Market Size - The growth of the wind power yarn market is significantly influenced by the trend of larger turbine blades and the expansion of offshore wind power [11] - The demand for high modulus glass fiber is expected to continue rising, with the proportion of high modulus products increasing from 25% in 2024 to 40% in 2025 [19][21] Key Companies - China Jushi holds approximately 37% of the domestic wind power yarn market, making it the industry leader, followed by Taishan Glass Fiber and Chongqing International, which together account for about 90% of the market [13] - China Jushi is recognized as the largest glass fiber manufacturer globally, with a significant share of the production capacity for both roving and electronic yarns [15] - Taishan Glass Fiber and Chongqing International are also major players, with Taishan being the second-largest manufacturer and Chongqing International leading in high modulus and ultra-high modulus products [15][17] Industry Trends - The industry is moving towards high-performance fibers, with a focus on high modulus and composite materials [19] - The demand for wind power yarn is expected to grow due to the increasing size of wind turbine blades and the expansion of offshore wind power installations [20] - The market is experiencing structural changes, with high-end markets facing supply shortages while low-end capacities are at risk of obsolescence [21]