The pattern of photovoltaic glass continues to improve, and the production capacity of fulette is expected in the future.
photovoltaic glass is a necessary part of photovoltaic modules, and its market demand is closely related to the installed capacity of photovoltaic. In the process of global development of clean energy, the photovoltaic glass industry has been transferred from overseas to domestic industry. At present, the photovoltaic glass industry is highly concentrated, and Follett is one of the oligarchs
photovoltaic glass is located in the middle of the photovoltaic industry chain. Photovoltaic glass is usually used to seal the cells in the middle with the back plate through EVA adhesive film, which can protect the cells from oxidation and corrosion of moisture, oxygen and other gases. Then install the aluminum frame and junction box to package the solar cell module, which is divided into single glass module and double glass module according to the different materials on the back of the module. Photovoltaic glass is mainly divided into ultra white calendered glass and ultra white float glass. The difference between the two lies in the manufacturing process and application object. Due to the wider application of crystalline silicon cells in the global photovoltaic cell market and the higher transmittance of ultra white calendered glass, ultra white calendered glass occupies a larger share in the market than ultra white float glass
the photovoltaic glass industry has developed rapidly in recent years. According to the prediction of the photovoltaic industry association, the market share of 3.2mm front cover glass in 2019 is about 67.50%. With the continuous production of lightweight components and new technologies, the thickness of cover glass will develop into thin sheets. It is expected that by 2025, the 2.5mm front cover glass will become the first in the market. The market share of other (front cover glass below 2.0mm) thickness front cover glass will also increase rapidly. At the same time, as the photoelectric conversion efficiency of solar cells increases by 1%, the power generation cost will be reduced by 7%. In order to improve the photoelectric conversion efficiency, in terms of photovoltaic glass, the key is to improve the light transmittance. At present, the average light transmittance of the original photovoltaic glass sheet in the industry is about 91.6%, which will be greatly improved in the future
the photovoltaic glass industry shows a high degree of concentration
both internationally and domestically, the photovoltaic glass industry has a high degree of market concentration. Globally, about 80% of photovoltaic cell modules in the world use photovoltaic glass produced in China. By 2019, China has become the largest exporter of photovoltaic glass, accounting for more than 90% of the world's output. At present, the main participants in the photovoltaic glass industry are Xinyi solar energy, fulette, Caihong, Jinxin solar energy, CSG, China building materials and other enterprises, and the leaders are mainly Xinyi solar energy and fulette. Due to the existence of scale effect, technical and capital barriers, customer stickiness and other factors, large enterprises have obvious competitive advantages, and the industry leading advantage is more significant. In recent years, the concentration of CR2 in the industry has been increasing, and it is still expected to continue to improve in the future. According to the current expansion plan, it will reach 51% in 2019 and 2. 5% in 2020 The speed of the experimental machine can be adjusted by more than 60%. In contrast, other companies have no obvious new production capacity, the industry concentration continues to improve, the future trend will be good, and the market domination and bargaining power will also be improved
Xinyi solar energy: the existing production capacity of Xinyi is mainly distributed in Tianjin, Wuhu and Malaysia, and the current production capacity is 500t/d, 5400t/d and 1900t/d respectively. In 2020, the company is expected to expand two 1000t/d production lines in Guangxi and Wuhu respectively. At that time, the company's production capacity will reach 1, so that the tensile force of material testing can be accurate 1800t/d. Fulette: fulette's existing capacity is mainly distributed in Jiaxing, Fengyang and Vietnam, and the current capacity is 2290t/d, 3000t/d and 1000t/d respectively. In 2020, the company is expected to expand one 1000t/D production line in Vietnam and two 1200t/D production lines in Fengyang, Anhui Province in 2021. At that time, the company's production capacity is expected to be 7290t/D in 2020 and 9690t/D in 2021
the market of photovoltaic glass is good, and the demand growth is strong.
in the second half of 2020, photovoltaic glass has become a bulk commodity that many investors pay attention to. According to zhuochuang information, the domestic photovoltaic glass market warmed up in July, and the quotations of some enterprises began to rise at the end of the month. With the promotion of some domestic bidding projects, the purchasing enthusiasm of component manufacturers has increased slightly, while the overseas market continues to recover, and the follow-up volume of orders has increased. On the whole, the demand shows a good trend. At the same time, the supply of original films is tightening, and the self consumption of some manufacturers is increasing, so the export sales are suspended. Most manufacturers said that orders were sufficient in August, and some markets were in short supply
the rise in the price of photovoltaic glass may also be due to changes in demand. According to fulette's announcement, for a long time, due to the influence of photovoltaic backplane technology, weight and other factors, single glass modules still occupy most of the market share, and the market penetration of double glass modules is low. According to the relevant statistics of China Photovoltaic Industry Association, the market penetration rate of double glass modules in 2019 was only 14%. According to the prediction of China Photovoltaic Industry Association, the market penetration of double glass modules is expected to reach 60% by 2025
however, the rise in the price of photovoltaic glass will also bring cost pressure to photovoltaic enterprises and module enterprises. At the market level, manufacturers have begun to lock in supply. On the evening of August 2, Longji Co., Ltd. (601012, SH), a manufacturer of monocrystalline silicon photovoltaic products, disclosed that it had signed a photovoltaic glass procurement contract with two subsidiaries of Nanpo a with an estimated amount of 5.7 billion yuan (excluding tax). For the above calibration should be a 5-point transaction, some photovoltaic glass analysts said that the above measures may also be based on the company's considerations to prevent further price increases in the future
the Research Report of CITIC Securities shows that the supply and demand of photovoltaic glass are tightening, which drives the mainstream enterprises to plan to increase the price by 7% - 13% in August. Under the resonance of domestic and foreign demand recovery, the photovoltaic glass industry may face a phased supply gap of about 15% in the fourth quarter of 2020, and the price is expected to continue to rise, which is expected to promote the photovoltaic glass price to continue to rise to 27 ~ 2. When I was at CPA (Building Products Association), I learned that brufma (British rigid polyurethane Manufacturers Association) was 8 yuan/square meter (taking 3.2mm as an example). In 2021, with the launch of new production capacity, the tight supply and demand pattern of the industry will be eased steadily, but thanks to the accelerated growth of demand, the overall competition pattern will remain stable. The duopoly pattern may also continue