2019 global valve industry development trend, China is optimistic about petrochemical and cryogenic

It is expected that in the next few years, with the rapid development of China's economy and the improvement of industrial automation, China's equipment manufacturing industry will be transformed and upgraded, and the country's investment in oil and gas, petrochemical, environmental protection, electric power, metallurgy and other fields will continue to grow. The overall size of the valve market will maintain rapid growth.

Among the global industrial valve market demand, oil and gas fields including drilling, transportation and petrochemicals accounted for the highest proportion, reaching 37.40%, followed by energy and power and chemical industry, accounting for 21.30% of the global industrial valve market demand and 11.50%, the market demand in the first three major areas accounted for 70.20% of the total market demand. In the application field of domestic industrial valves, the chemical, energy, power and oil and gas industries are also the most important market for valve sales. The market demand for valves accounts for 25.70%, 20.10% and 14.70% of the total domestic industrial valve market, respectively. Accounted for 60.50% of the total market demand.

Analysis of the development of China's valve industry

1. The nuclear power “13th Five-Year Plan” drives the market demand for nuclear power valves. As a recognized clean energy source, nuclear power has been promoted with the development of nuclear power technology, and its safety and economy have been gradually promoted. Nuclear power valves are the most used equipment in nuclear power projects. With the rapid development of the industry, the demand for nuclear power valves will continue to expand.

According to the "13th Five-Year Nuclear Industry Development Plan" and other documents, by 2020, the installed capacity of nuclear power will reach 40 million kilowatts; the annual power generation of nuclear power will reach 260-180 billion kilowatt hours. On the basis of the construction and operation of nuclear power capacity of 16.968 million kilowatts, the newly installed nuclear power installed capacity is about 23 million kilowatts. At the same time, considering the follow-up development of nuclear power, the nuclear power capacity under construction at the end of 2020 should be maintained at around 18 million kilowatts.

2, petrochemical special valves, ultra-low temperature valves and other products have broad market demand

China's petroleum and petrochemical industry is developing towards large-scale and large-scale development. It will continue to maintain sustainable development in the next five years. Several dozens of 10-million-ton refinery units and millions of tons of ethylene plants in China are facing new construction and renovation. The petrochemical industry is facing transformation and upgrading, such as hydrogenation and upgrading, three waste recycling and other energy conservation and environmental protection projects, becoming a new market space for petrochemical valves, flanges and forgings.

With the promotion and application of clean energy, the popularization of liquefied natural gas (LNG) will be further emphasized, and the demand for ultra-low temperature valves will also increase significantly. The key valves of China's super (super) critical thermal power units have long relied on imports, which not only increases the cost of power construction, but also is not conducive to the technological progress of the domestic valve manufacturing industry. In terms of large gas turbines, the state is also investing a large amount of manpower and financial resources to encourage the introduction, digestion, absorption and innovation, and to change the dependence of large gas turbines and their key equipment on imports. Under this background, petrochemical special valves, ultra-low temperature valves, vacuum butterfly valves for super (super) critical thermal power units, large gas turbine steam reheat valves and other products will face a relatively broad market demand.

3. The mid-end industrial valve market is relatively mature

The main products of the mid-end industrial valve market are industrial valves with relatively loose use environment, generally carbon steel or stainless steel valves. The market demand for valve products in this market is large, and it needs to meet the industrial quality requirements and high technical content. Moreover, the terminal customers generally set qualified supplier qualifications, so there are certain barriers to entry in the industry. The level of competition is lower than that of the low-end industrial valves and civil valves, and the profit level is relatively high. Some large enterprises in China's valve industry have matured in production technology and production technology due to their early entry into the international market, and have established relatively stable cooperative relations with many international customers. The production level of valves has been greatly improved. Valve production has also increased significantly, and it has already occupied a relatively important position in the mid-end valve market, and has a certain foundation for revitalization.

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