Future Development Trends of China's New Materials Industry

China has become a major producer and consumer of new materials. The production of basic materials ranks first in the world. The industrial added value of all industrial materials is about 1.4964 trillion yuan, accounting for approximately 14.6% of China's GDP. Wang Qi'an, Director of the Materials Department of the High tech Development and Industrialization Department of the Ministry of Science and Technology, pointed out that there are still many problems in China's new materials industry, such as high resource and energy consumption in the production process, significant gaps with the world's advanced level in the development of high-performance materials and their varieties, advanced preparation and processing technologies, material performance characteristics and applications, and a small number of varieties with independent intellectual property rights. Most of the key materials with high technological content and high added value rely on imports.
The modernization of national defense and military industry will greatly stimulate the demand for new materials
Due to the excellent performance and high price of new materials, they were mainly used in military, aerospace, aviation and other fields in the past. With the requirements of China's national defense modernization, the absolute value of national military expenditure continues to increase, and its proportion in the gross domestic product also continues to grow. We expect that in this context, new materials will usher in better development opportunities.
2. Domestic consumption growth stimulates the development of new chemical materials
With the technological breakthrough of new chemical materials, large-scale production has led to a substantial reduction in costs, and the price has been accepted by civil products. In addition, new chemical materials have excellent properties such as high temperature resistance, low temperature resistance, corrosion resistance, aging resistance, high strength, and friction resistance, and are now widely used in electronics, automobiles, building materials and other fields. The rapid development of the Chinese economy has driven the demand for consumer goods such as electronics and automobiles, and the growth rate of demand for these downstream consumer goods has also driven the development of China's new materials industry. Currently, the demand growth for some new materials is several times that of China's GDP growth.
3. The independent innovation capability of domestic leading enterprises has been improved, and the trend of import substitution is obvious
In the development process of the new materials industry, it is inevitable that there will be significant fluctuations in product market prices. After several years of development, China's new materials industry has begun to take shape and has strong international competitiveness in a few fields. Domestic leading enterprises have formed processes and technologies with independent intellectual property rights through continuous research and innovation, gradually gaining cost and scale advantages, and showing a clear trend of import substitution.