本研究报告从中国玻璃行业的供需市场入手，着重分析了近几年中国玻璃的产能走势、区域分布、产业结构、产品价格和进出口量等方面内容。本报告同时对建筑业、汽车业、玻纤业等玻璃产品细分市场上做了有针对性的研究，对有投资价值的超薄超白玻璃、太阳能电池封装玻璃和其他深加工玻璃进行了投资热点分析，并对玻璃产品2008年的发展现状和趋势提出了一定的预测。最后，本报告从玻璃产量、出厂价格及财务报表等几方面，对玻璃业重点企业及上市公司进行了详细的横向、纵向对比，对下一阶段企业发展作出评测。

　　中国玻璃行业在经历了2006年的低谷期之后，2007年行业明显好转，供求关系大幅改善。2008年上半年行业延续了2007年的景气走势，依然保持了较快的增长速度，产能继续增加。但是竞争更加激烈，市场渐趋于饱和，增速逐渐减缓。玻璃产能增速过快仍是玻璃市场的主要压力。

图 2000-2008年中国平板玻璃产量
 
数据来源：国家统计局；水清木华研究中心整理

　　华东、华北和中南地区是中国玻璃主要产区，其中玻璃产能前三分别是河北、广东和江苏省。2007年平板玻璃产量居第一位的河北省08年平板玻璃产量依然保持较高的增长率。而江苏省玻璃产量近两年有所下滑。广东省的浮法玻璃、优质浮法玻璃比重较高，产业结构要优于河北省和江苏省。

　　2008年1季度玻璃价格有所提升，从3月开始，价格出现回落，而重要原材料价格居高不下，生产成本继续提高，预示玻璃行业将逐渐走出这一轮景气期。

The report sets about the supply and demand market of China glass industry; and expounds the output tendency, regional distribution, industry structure, product price, import and export etc of China glass industry in recent years. Also, the report makes pertinent research on glass segmented markets to architecture, automobile and glass fiber; gives an in-depth analysis of investment hotspots in super-thin ultra-clear glass, solar cell bonding glass and other deep-processed glass; and predicts the development trend of glass products in 2008. Ultimately, the report makes comparisons between key listed manufacturers with regard to glass output, ex-factory price and financial performance, etc; and assesses the development of those manfacturers in next stage.

After its downturn in 2006, China glass industry turned to the better in 2007 and the relationship of supply and demand improved significantly. The prosperity of glass industry in 2007 continued in the first half of 2008, with a fast growth rate. Production capacity kept increasing but the competition became fiercer. The market has grown saturated and the grow rate slows down. It is still the main pressure of fast growing production capacity on glass market.

China Output of Flat Glass, 2000- May.2008
 
Source: National Bureau of Statistics of China

East China, North China and Central South China are the key regions of glass production; wherein, the top 3 by glass output capacity are Hebei province, Guangdong province and Jiangsu province. The province of Hebei, ranking the first by flat glass output in 2007, still sees a rapid growth rate in 2008. Besides, glass output of Jiangsu province dropped to some extent in recent two years. In Guangdong province, float glass and high-grade float glass take high proportions and industry structure is superior to that of the other two provinces.

Glass price rose slightly in the first quarter of 2008, and then dropped starting from March. However, the prices of key raw materials still maintained high and the production cost further increased. This foresees the declining of this round of prosperity.

第一章 中国玻璃行业现状
1.1 行业特点分析
1.1.1 利润率不容乐观
1.1.2 需求仍快速增长
1.1.3 产能增速过快
1.1.4 产品成本增加
1.1.5 产品价格有所回落
1.2 供需分析
1.2.1 产能地区分布
1.2.2 新增产能重点地区分析
1.2.3 2007-2008年投产浮法生产线情况
1.2.4 产量及增长情况
1.2.5 需求结构特点分析
1.3 进出口分析
1.3.1 出口增速有所下降
1.3.2 进口以高附加值产品为主

第二章 玻璃行业市场结构及经济效益分析
2.1 市场结构特点分析
2.1.1 产品结构继续优化
2.1.2 兼并重组活动活跃
2.2 市场竞争及集中度分析
2.2.1 市场竞争分析
2.2.2 企业市场集中度分析
2.3 经济效益分析
2.3.1 成本大幅上升，利润空间有限
2.3.2 平板玻璃制造业经济指标分析

第三章 行业细分市场分析
3.1 建筑玻璃
3.1.1 消费现状分析
3.1.2 建筑玻璃价格
3.1.3 建筑玻璃发展趋势
3.2汽车玻璃 
3.2.1 产销及存在问题分析
3.2.2 汽车玻璃消费者分析
3.2.3 国际贸易对汽车玻璃市场的影响
3.3 玻璃纤维
3.3.1 玻璃纤维行业特点
3.3.2 行业发展格局

第四章 玻璃行业上市公司分析
4.1 重点上市公司概况
4.1.1 洛玻集团
4.1.2 福耀集团
4.1.3 上海耀华皮尔金顿玻璃股份有限公司
4.1.4 南玻集团
4.1.5 湖北三峡新型材料股份有限公司
4.1.6 秦皇岛耀华玻璃股份有限公司
4.1.7 金晶科技股份有限公司
4.1.8 方兴科技股份有限公司
4.2 玻璃行业上市公司报表分析
4.2.1 2007年主要上市公司报表分析
4.2.2 2008年1季度报表分析

第五章 行业投资机会及风险分析
5.1 投资机会及建议
5.1.1 超薄、超白是浮法玻璃发展方向
5.1.2 深加工玻璃前景广阔
5.1.3 太阳能电池是玻璃运用的新领域
5.2 玻璃行业投资风险分析
5.2.1 市场风险
5.2.2 原材料风险
5.2.3 技术风险
5.2.4 政策和体制风险

第六章 总结

1. Status Quo of China Glass Industry
1.1 Industry Characteristics
1.1.1 Dim Prospect of Profit Margin
1.1.2 Still Fast Growth of Demand
1.1.3 Too Fast Growth of Output Capacity
1.1.4 Rising Product Cost
1.1.5 A Slight Drop in Product Price
1.2 Demand & Supply Analysis
1.2.1 Regional Layout of Production Capacity
1.2.2 Key Regions of Newly Added Production Capacity
1.2.3 Float Glass Lines in Production, 2007-2008
1.2.4 Output and Growth
1.2.5 Characteristics of Demand Structure
1.3 Import & Export Analysis
1.3.1 A Slight Drop in Export Growth
1.3.2 Import Led by High Value-Added Products

2. Market Structure and Economic Benefit of Glass Industry
2.1 Characteristics of Market Structure
2.1.1 Further Optimization of Product Structure
2.1.2 Frequent Mergers & Acquisitions
2.2 Market Competition and Concentration
2.2.1 Market Competition
2.2.2 Corporate Market Concentration
2.3 Economic Benefit
2.3.1 Rising Cost, but Limited Profit
2.3.2 Economic Indices of Flat Glass Manufacturing

3. Analysis of Segmented Markets
3.1 Building Glass
3.1.1 Consumption
3.1.2 Price
3.1.3 Development Trend
3.2 Auto Glass
3.2.1 Production & Sales and Existing Problems
3.2.2 Consumer
3.2.3 Influence of International Trade on Auto Glass Market
3.3 Glass Fiber
3.3.1 Industry Characteristics
3.3.2 Development Pattern

4. Listed Companies in Glass Industry
4.1 Overview of Key Listed Companies
4.1.1 China Luoyang Float Glass Group Co., Ltd
4.1.2 FuYao Group
4.1.3 Shanghai Yaohua Pilkington Glass Co., Ltd
4.1.4 CSG Holding Co., Ltd
4.1.5 Hubei Sanxia New Building Material Co., Ltd
4.1.6 Qinhuangdao Yaohua Glass Co., Ltd
4.1.7 Shandong Jinjing Science & Technology Stock Co., Ltd
4.1.8 Anhui Fangxing Science & Technology Co., Ltd
4.2 Statements Analysis of Listed Companies in Glass Industry
4.2.1 Statements of Key Listed Companies in 2007
4.2.2 Statements of Key Listed Companies in 1Q 2008

5. Investment Opportunities and Risks
5.1 Investment Opportunities and Suggestions
5.1.1 Super Thin and Ultra Clear being Development Trend of Float Glass
5.1.2 Bright Prospect of Deep-Processed Glass
5.1.3 Solar Cell being A New Field for Glass Application
5.2 Investment Risks in Glass Industry
5.2.1 Market Risk
5.2.2 Risks from Raw Materials
5.2.3 Technical Risk
5.2.4 Risks from Policy and System

6. Summary