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Industry Forecast


Investment Casting Market in Mainland China in 2020


by Zhigang LU, Tsinghua University and Yun ZHANG, Investment Casting Branch of China Foundry Association


China


Figure 1: Growth rate of industrial added value above designated size in mainland China in 2020


T


he novel coronavirus (COVID-19) outbreak in 2020 has serious implications for the global


economy. In China, the outbreak in early 2020 coincided with the Chinese New Year holiday, leading to a large number of business shutdowns and a major halt in production activities. However, with the adoption of a series of decisive measures by the Chinese government, the epidemic was quickly brought under effective control, and the production of enterprises gradually resumed. By May, industrial production had basically reached the normal level. Figure 1 shows the change in the growth rate of industrial added value above designated size in China. It can be seen that in April, the industry has achieved a positive growth compared with the same period in 2019, and the growth rate has gradually expanded, reaching 6.9% in September. The overall industrial recovery in mainland China has created good conditions for the production of investment casting. However, due to the large proportion of investment casting in Mainland China facing the


24 ❘ January 2021 ®


Figure 2: Annual auto sales in mainland China


overseas market, the output value was affected by changes in order demand. The market performance of high value- added castings, automotive castings and general commercial castings were different.


High Value-Added Casting High value-added castings are used in aviation, aerospace, military industry and other fields, mainly in the domestic market. Aircraft is an important means of transportation in modern society. China, with its large territory and the largest population in the world, has a huge demand for airplanes. For example, during the Spring Festival, a traditional festival in China, people working and studying all over the country go back to their hometown to reunite with their families, forming the largest personnel movement in the world.


According


to statistics, during the 40-day 2019 Spring Festival travel rush, 73 million passengers traveled by air. Taking into account the rapid growth of China’s middle-income population, continued economic growth and urbanization, Boeing forecast in November 2020


that China would lead the global travel market in the next few years and Chinese airlines would purchase 8,600 new aircraft over the next 20 years. In fact, about 25 percent of the growth in global aviation over the past decade has come from China. The growth of the aviation market in China has injected vitality into the high value-added castings market around the world, including China itself. In addition, China has a sound


military aircraft manufacturing system. Based on its own national defense needs, the military aircraft market is also expanding, which promotes the improvement of high value-added casting technology and the expansion of the market.


According castings to in


statistics, the output value of high value- added


mainland


comprehensive China


increased by about 10% compared with 2019, reaching 699 million US dollars.


Automotive Casting Automotive castings are mainly for the overseas market, while the domestic market is also developing rapidly. Affected by the epidemic in 2020,


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