High-temperature alloys are mainly used in the field of military aviation, with high technical barriers
Superalloys are a class of metallic materials that can work for a long time at higher operating temperatures (above 600 ° C) and under certain stress. Superalloys have excellent comprehensive properties, including higher high-temperature strength, better oxidation resistance and hot corrosion resistance, good fatigue properties, good plasticity and fracture toughness. Superalloys have high application value in environments that require materials to withstand high temperatures, such as aerospace, nuclear power generation, and marine gas turbines. Among them, the aerospace field is the most important consumer field of superalloys and the most demanding consumer field. Consumption accounted for about 55% in 2016, and is mainly used in blades and combustion chambers of aerospace engines.
High-temperature alloys are mostly used in aircraft engines. Hangfa is known as the "Pearl in the Crown of Manufacturing Industry", which is very difficult to develop. Its complex structure and harsh working environment require high materials, and therefore high temperature alloys have high technical barriers. Generally speaking, China's superalloy products have progressed to higher operating temperatures and strengths, but compared with foreign advanced levels, they still face gaps in materials manufacturing technology and performance, product yield, and supporting equipment.
Superalloy market competes oligopoly with few game players
At present, China's high-level alloy production enterprises include BJGY Special Alloy Materials Technology Group, FSTG Special Steel Group, BJHC Aerospace Materials Research Institute, Chinese Academy of Sciences and other metals. These companies have gradually developed into a complete technology industry chain, occupying a large number of high-end product markets. According to the company's announcement, the company occupies a high market share in the aerospace engine precision casting market, the powder and oxide dispersion (ODS) and other new high-temperature alloy markets. According to the company announcement, the company's key customers include Shenyang Liming, Aero Power, China Aerospace Science and Industry and other aerospace engine companies, and Dongfang Electric, Shanghai Electric, Harbin Steam Turbine Plant and other gas turbine companies.
Military equipment enters the heavy volume period, and the market for superalloys has a bright future
The development of China's strategic air force is accelerating. The mass production of new models is expected to drive the demand for aero engines and high-temperature alloys. According to the view of the Huatai Military Industry Group, China's strategic air force has been officially confirmed that the construction of the air force is expected to continue to accelerate, which is an important part of actively defensive military strategic development in the new situation. Judging from the type spectrum, the mainstream models of China's military aircraft have been basically the same as those of the United States, but there are obvious gaps in terms of quantity, structure, and individual model types. According to the Huatai Military Industry Group's viewpoint, the military aircraft industry chain is moving from a technological inflection point to a financial inflection point, and new models will gradually climb up the scale. With the development and advancement of aviation military equipment in the past two years, our army's demand for the deployment of new equipment is expected to increase. The demand for materials such as high-temperature alloys, high-end titanium materials, high-quality composite materials, various high-strength metals and their alloys is expected to grow rapidly, or it will materially benefit the orders and performance of material-end companies such as Steel Research and High-tech.
A number of policies such as the "two-machine special project" encourage the development of aircraft engines and superalloys
Aerospace engines have a lot of room for new and replacement: At present, China has basically the ability to develop and produce all types of aviation engines, including turbofans, turbojets, turboprops, turboshafts, and piston engines. Demand for aviation equipment such as fighters, attack aircraft, bombers, transport aircraft, trainers and helicopters. However, compared with the products of overseas developed countries, China ’s aerospace products are still lagging behind. Technical indicators such as engine maximum thrust, thrust-to-weight ratio, and service life are far behind the current world advanced level. Facing the gap, the continuous research and development of domestic aviation development is an inevitable choice for the country, and it will also provide sufficient market space for high-temperature alloys. In addition, in the next few years, the gradual installation of new models in China, the updating of existing aero engines, and domestic substitution will increase demand.