Since 2021, risks and challenges at home and abroad have increased, and the global epidemic has spread. China’s economy has maintained a good momentum of development amid orderly and coordinated national efforts. Market demand improvement, import and export growth, abrasives industry continues to maintain a good trend.
- Industry development in 2021
According to the statistical data analysis of China Machine Tool Industry Association, from January to October 2021, the overall operation of the machine tool industry still maintains stable growth. Influenced by the base factors of the previous year, the year-on-year growth rate of the main indicators continues to fall month by month, but the year-on-year growth rate is still high. The revenue of key enterprises connected by the association increased by 31.6% year on year, 2.7 percentage points lower than that in january-September. The operating income of each sub-industry increased significantly compared with the same period last year, among which the operating income of abrasives industry increased 33.6% compared with the same period last year.
In terms of imports, China’s customs data show that the overall import and export of machine tools from January to October 2021 continued the good momentum of the first half of the year, with the import of machine tools us $11.52 billion, up 23.1% year on year. Among them, the import of metal processing machine tools was us $6.20 billion, up 27.1% year on year (among them, the import of metal cutting machine tools was US $5.18 billion, up 29.1% year on year; The import of metal forming machine tools was $1.02 billion, up 18.2% year on year). Imports of cutting tools amounted to us $1.39 billion, up 16.7% year on year. Imports of abrasives and abrasives amounted to $630 million, up 26.8% year on year.
Cumulative imports by commodity category are shown in Figure 1.
In terms of exports, the trend of substantial growth continued from January to October 2021. The export of machine tools reached us $15.43 billion, up 39.8% year on year. Among them, the export value of metal processing machine tools was $4.24 billion, up 33.9% year on year (among them, the export value of metal cutting machine tools was $3.23 billion, up 33.9% year on year; Metal forming machine tool exports 1.31 billion US dollars, up 33.8% year on year). The export of cutting tools was US $3.11 billion, up 36.4% year on year. Exports of abrasives and abrasives reached us $3.30 billion, up 63.2% year on year.
The cumulative exports of each commodity category are shown in Figure 2.
Ii. Forecast of the situation of abrasive and abrasive tools industry in 2022
The 2021 Central Economic Work Conference pointed out that “China’s economic development is facing triple pressures from demand contraction, supply shock and weakening expectations”, and the external environment is “becoming more complex, grim and uncertain”. Despite the twists and turns of the global epidemic and the challenges of economic recovery, Claudia Vernodi, director of the China-Europe Digital Institute in Belgium, said that China’s strong momentum of economic growth and high-quality development will continue to be the biggest driver of global economic growth.
Therefore, the outstanding task for 2022 will be to make progress while maintaining stability. We called on the government to increase the intensity of spending, speed up the pace of spending, and appropriately advance infrastructure investment. According to the meeting, all regions and departments should shoulder the responsibility of stabilizing the macro economy, and all sectors should actively introduce policies conducive to economic stability. Policy level to promote economic growth will be more than usual, which will also powerfully pull the market demand for abrasives. It is expected that China’s abrasives and abrasives industry in 2022 will continue the good running situation in 2021, and the main indicators such as annual operating revenue in 2022 May be flat or slightly increase with 2021.
Post time: Jan-25-2022