In recent years, with the rapid development of China’s railway industry, titanium alloy forgings, as one of the indispensable materials in this industry, the market demand is also continuously increasing. This article will analyze the current situation and future trends of China’s titanium alloy forging market, and provide well-founded information combined with relevant national policy information.
I. Market Status
At present, China’s titanium alloy forging market is mainly monopolized by several large enterprises. These enterprises have complete production lines and can achieve self-sufficiency from raw material procurement to finished product manufacturing. According to incomplete statistics, the total output value of China’s titanium alloy forging industry was about 10 billion yuan in 2019, of which 55% was used in the aerospace field, 30% was used in the industrial field, 10% was used in the medical field, and 5% was used in other fields.
II. Development Trends
- Industrial Upgrading
“Made in China 2025” issued in 2015 proposed to realize the transformation from manufacturing to manufacturing power. Therefore, industrial upgrading is an inevitable trend and also the direction of future development of the titanium alloy forging industry. In the future, the industry will develop towards high precision, high quality and large-scale production. - Growth in High-end Market Demand
With the continuous development of high-end manufacturing industries such as aerospace, automobiles, rail transit, etc., the demand for titanium alloy forgings is also continuously increasing. In the next few years, the market demand for high-end titanium alloy forgings in China will maintain a steady growth trend. At the same time, under the promotion of national policies, industries such as nuclear power, shipbuilding, military industry, and new energy will also become key areas for the application of titanium alloy forgings. - Rapid Application of New Materials and New Processes
In the titanium alloy forging industry, manufacturing processes and production technologies have always been the bottleneck that restricts the development of the industry. With the rapid application of new materials and new processes, titanium alloy forging manufacturing technology is breaking through. In the future, with the continuous emergence of new technologies, the titanium alloy forging industry will transform towards a more refined and intelligent manufacturing process.
III. National Policies
In recent years, the country has provided strong support for the titanium alloy forging industry. In addition, “Made in China 2025” (Phase II) issued in November 2018 pointed out that it is necessary to carry out research and development and application of advanced lightweight materials, new energy materials, environment-friendly and efficient new materials, special new materials, etc., which provides policy guarantees for the development of the titanium alloy forging industry.
IV. Examples
In 2019, CRRC Zhuzhou Electric Co., Ltd., Shandong Hengli Co., Ltd., China Titanium Holdings Co., Ltd., Taiyuan Iron and Steel (Group) Co., Ltd., and other enterprises successively built titanium alloy forging production lines or new vanadium-titanium alloy material production lines in China. These investment activities fully demonstrate the huge potential of the domestic titanium alloy forging market and have laid a solid foundation for the healthy development of the industry in the future.
Overall, based on the transformation of China’s manufacturing industry from “strong” to “excellent” and the growth in demand for high-end manufacturing industries, the future prospects for the titanium alloy forging industry are very broad. However, this also requires enterprises to continuously improve their service levels in terms of technological innovation and quality management, and also to strengthen the guidance and support of national policies to promote the common development of the entire industry.
