China sees growth slowdown in PM production but sales rise above $1 billion in 2014
August 5, 2015
According to figures issued by the China Machine Powder Metallurgy Association (CMPMA) production of structural PM parts in 2014 reached 193,238 metric tonnes, an increase of 7.2% over 2013 compared with growth of nearly 12% compared with a year earlier. The figures are based on fifty responding PM structural part producers.
In terms of sales value the CMPMA reports an increase of 6.9% for 2014 to Yuan 631,343 million ($1.017 billion), of which Yuan 143,686 million ($231.4 million) was attributed to new PM products – an increase of 80.4% over the previous year.
Exports of PM structural parts increased by 6.2% in 2014 to Yuan 64,367 million ($103.6 million). Total profits after taxes increased by 19.8% to Yuan 44,438 million ($71.56 million).
In the first quarter of 2015 the CMPMA reported that structural PM part sales increased by 20.2% to Yuan 170,095 million ($273.9 million) of which exports contributed Yuan 16,544 million, an increase of 22.1%.
According to a market research report published earlier this year production of high purity iron powder in China is estimated to have reached 498,000 tonnes in 2014. This includes both reduced and water atomised high purity iron powder including that used in the Powder Metallurgy sector.
China is outstripping all of the other Asian countries in PM production (see Fig. 1) thanks to its rapidly growing automotive sector. Only South Korea, which also has a sizeable automotive industry, has managed to see increased PM production along with Taiwan but at a much lower level than China.
Asian PM part production, at over 400,000 tonnes in 2014, is now more than double that of Europe.