in the past five years. The following is an analysis of the market situation according to different fields.
High Value-Added Casting High value-added castings are mainly used in high-end manufacturing fields represented by aerospace and industrial gas turbines. The growth of high value-added castings in mainland China mainly benefits from the rapid development of aviation industry. China has its own complete military aircraft manufacturing system, and the demand for military aircraft will continue to grow to meet national defense needs.
As the world’s most populous
country, with the continuous improvement of people’s living standards and economic prosperity, the demand for civil aircraft in China is still an important part of the global aviation market, and also an important factor to ensure the growth of the global high value-added investment casting market.
According to the latest China Civil
Aviation Market Outlook released by Boeing in 2021, China will quickly recover from the epidemic and the growth of low-cost airlines and e-commerce will drive the demand for aircraft in the future, thus raising the forecast of China’s aircraft demand in the next 20 years. Boeing believes Chinese air transport enterprises will need 8700 new aircraft by 2040, 1.2% higher than last year’s forecast of 8600 planes.
Currently, most of China’s civil
aircraft are imported, so the growth of these aircraft is not directly reflected in the growth of high value-added castings in China, but it is a good opportunity for global manufacturers. China is also improving its own civil aircraft manufacturing system.
Automotive Casting Since 2020, the development of the global automotive market has fallen into a trough due to the dual “bad news” of the ongoing COVID-19 epidemic and the shortage of on-board chip supply. China’s automotive industry has overcome a series of difficulties and made progress.
® Figure 3: Annual automotive sales in mainland China. Of course, the epidemic has
a significant impact on the actual demand for aircraft. According to statistics (Figure 2), the number of civil aircraft introduced by Chinese airlines in 2020 is only 133, less than one third of that in 2018. But the good news is that demand is picking up, reaching 168 in 2021. On December 2, the Civil Aviation Administration of China issued an airworthiness directive for the Boeing 737MAX, raising hopes that the plane could return to service in China.
At present, the output value of
high value-added castings in mainland China is $804 million, an increase of 15% compared with 2020. The growth momentum for 2022 will not change.
China’s automotive production and sales were expected to reach 26.1 million in 2021, an increase of 3.1% year-on- year, ending three consecutive years of negative growth, according to the latest data released by the China Association of Automotive Manufacturers. In 2022, China’s automotive production and sales are expected to reach 27.5 million. Figure 3 shows annual automotive sales in mainland China.
Influenced by both domestic and
overseas automotive markets, China’s automotive investment casting output value in 2021 was $347 million, up 4.2% from 2020.
An important change is taking place
in China’s automotive industry, with the output of new energy vehicles increasing rapidly. According to statistics, in the first 11 months of this year, the cumulative sales of new energy vehicles is close to 3 million, and the annual sales is expected to reach 3.4 million, a year-on-year increase of 1.6 times.
Continued on pg 22 January 2022 ❘ 21
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