Alloy Steel Industry Market Analysis to 2025
Alloy Steel Industry Market Analysis to 2025
China's alloy steel steel production overall shows a steady rise, which is mainly due to the rapid development of China's automobile and other fields. Data shows that China's alloy steel steel production in 2019 was 47.0243 million tons, and by 2023 it will be close to 61 million tons. With the further development of the aerospace sector in the future, it is expected to continue to drive the healthy growth of China's alloy steel industry.
Due to the special properties of alloy steel, such as high strength, high toughness, wear resistance, corrosion resistance, low temperature resistance, high temperature resistance, non-magnetic, etc., its downstream application fields are gradually increasing. In addition to the traditional petrochemical, automotive, aerospace and fossil fuel industries, emerging applications are expanding, such as mining resin anchors and welded steel mesh. These new applications not only increase the demand for alloy steel, but also drive the rapid growth of industry sales. Data shows that in 2023, China's alloy steel steel sales volume has approached 57 million tons.
In addition, with the development of new alloy steel materials, such as special alloy steels resistant to hydrogen embrittlement for hydrogen energy storage and transportation facilities, the range of alloy steel applications will be further expanded. These new materials excel in improving safety and extending service life, and are expected to significantly boost industry sales in the coming years. As a result, it is foreseen that China's alloy steel industry will continue to maintain strong growth momentum in a number of areas.
