Competitive situation of forging industry

Forging capacity remains high. According to the China Forging Association quoted in the prospectus of Parker New Materials, the forging output in 2015 was 10.05 million tons, accounting for 39% of the global total output, significantly exceeding the share of other countries. In 2020, the output of forgings will reach 13.492 million tons, which has become the largest producer and consumer of forgings in the world for many consecutive years.
From the perspective of the global forging industry, the output accounts for a large proportion, but the developed countries represented by Germany, the United States and Russia are leading the world in terms of raw materials, equipment level, forging technology and process. There is still a certain gap between the forging industry and developed countries in terms of raw materials, heat treatment process, forging process optimization, etc. There is still a certain gap between the forging industry process database, material database and software development and foreign leading technologies, which basically restricts the rapid development of the forging industry.
From the domestic market, there are a large number of forging enterprises with fierce competition. Most forging enterprises are mainly engaged in the production of ordinary carbon steel, alloy steel, stainless steel and other forgings. The processing capacity of special alloy materials such as superalloys, titanium alloys, aluminum alloys, magnesium alloys is insufficient, the product technology content and added value are relatively low, and the process level is relatively backward. The number of domestic backbone forging enterprises is about 460, and the average output of enterprises is low. Although most enterprises have a large number and variety of equipment, the proportion of advanced equipment is small, and the number of high-precision and efficient special equipment is even less.