(A) the development factor analysis
1, favorable factors
(1) The "Thirteenth Five-year Plan" of Nuclear Power Drives the Market Demand for Nuclear Power Valves BS Flange
As a recognized clean energy source, with the development of nuclear power technology, nuclear power has been enhanced in safety and economy and has been gradually respected by people. Nuclear power valve is a large amount of equipment used in nuclear power projects, BS Flange with the rapid development of the industry, the demand for nuclear power valves will continue to expand.
According to the "13th Five-Year Plan for Nuclear Industry Development" and other documents, by 2020, the installed capacity of nuclear power operation will strive to reach 40 million kilowatts; and the nuclear power generation capacity will reach 260-280 billion kilowatt hours. On the basis of 16.968 million kilowatts of nuclear power capacity under construction and operation, about 23 million kilowatts of newly installed nuclear power have been installed. At the same time, considering the follow-up development of nuclear power, the nuclear power capacity under construction at the end of 2020 should maintain around 18 million kilowatts BS Flange .
(2) Petrochemical special valves, ultra-low temperature valves and other products market demand
China's petroleum and petrochemical industry is moving toward large-scale and large-scale development and will maintain its sustainable development within the next five years. BS Flange Dozens of 10-million-ton refineries and one million-ton ethylene plants in China are facing new construction and expansion. At the same time, Petrochemical industry is faced with transformation and upgrading, such as hydrogen upgrading, waste recycling and many other energy-saving environmental protection projects, as petrochemical valves, flanges and forgings new market space. With the popularization and application of clean energy, the popularization and utilization of liquefied natural gas (LNG) will be given more attention, and the demand of ultra-low temperature valve will also show a substantial increase. China's super (super) critical thermal power unit key valve long-term dependence on imports, not only increased the cost of power construction, but also detrimental to the domestic valve manufacturing technology. In large-scale gas turbines, the state is also investing more manpower and financial resources to encourage the introduction, assimilation, absorption and innovation of large gas turbines and to change their dependence on imports of key equipment. In this context, petrochemical-specific valves, ultra-low temperature valves, ultra-ultra-supercritical thermal power units with vacuum butterfly valves, BS Flange large gas turbine steam reheat valves and other products will face a more broad market demand.
(3) The mid-end industrial valve market is more mature
The main products in the mid-end industrial valve market are the industrial valves with relatively loose working environment, usually carbon steel or stainless steel valves. BS Flange The market demand for valve products in this market is huge, and industrial quality requirements, high technical contents, And end-users generally set eligibility for qualified suppliers, so there is a certain industry barriers to entry, the level of competition is lower than the low-end industrial valves and civilian valve market, a higher profit level. Some large-scale enterprises in the valve industry of our country have been relatively mature in the production technology and production technology since they entered the international market earlier and have established relatively stable cooperative relations with many world-class customers. They have already gained more market share in the mid-end valve market Important position.
2, unfavorable factors
(1) The overall market concentration in the industry is relatively low
Globally, the valve industry practitioners a large number of enterprises in general look more competitive. BS Flange From a global perspective, most of the leading international valve companies have landed in capital markets and have experienced the process of using capital markets to promote and integrate industries. In contrast, the overall small-scale domestic valve business, even if the top industry leaders are also mostly failed to land capital markets, the lack of long-term financial support in order to achieve industry consolidation.
(2) Most of our valve enterprises are still in the low-end market of the industry
Low-end industrial valves and civilian valve market, the main products for the cast iron valves and bronze valves, valve products for this market demand, low technology, low barriers to entry, filled with a large number of family-style, small workshop-style valve Production enterprises, the highest degree of market competition, lower profit levels. At present, more than 90% of the domestic valve export enterprises belong to the parts manufacturer or the OEM manufacturer, among them, a considerable number of enterprises are in the low-end industrial valves and civilian valves.
(B) production forecast and analysis
January-March 2017, China's valve production was 2,047,425 tons, down 2.68%.
Based on the above factors, the Investment Adviser's "2017-2021 China Valve Industry Investment Analysis and Forecast Report" predicts that in 2017 China's valve production will reach 8.2 million tons, the next five years (2017-2021) average annual compound growth rate About 1.97% in 2021 will reach 8.86 million tons.
