It is reported that the development plan for coastal areas of Jiangsu (2021-2025) recently issued by the national development and Reform Commission proposes to accelerate the construction of offshore ten million kilowatt offshore wind power base and plan and study the deep-sea ten million kilowatt offshore wind power base. The plan also proposes to implement key projects such as Fenghai and Tonghai 500 kV power transmission and transformation projects, and synchronously plan the supporting peak shaving power supply for the 10 million KW offshore wind power base and the Nantong Suzhou River Crossing channel project.
Everbright Securities Company Limited(601788) pointed out that according to the statistics of provincial policy objectives, the installed capacity of new offshore wind power in China will reach 34.7 million KW from 2021 to 2025. According to GWEC's data, by the end of 2020, China's offshore wind power installed capacity is 9.99 million KW. Considering the new installed capacity of each province, China's offshore wind power installed capacity will reach 44.69 million kW in 2025, and the five-year CAGR will be 35%.
In terms of upstream materials, wind power equipment mainly includes blades, gear boxes, motors, bearings and other parts. Blades are the core components of wind turbines, play the role of capturing wind energy, directly affect the conversion rate of wind energy, and the cost accounts for about 22% of the total cost. Wind power blade materials are mainly composed of matrix resin, reinforcing fiber, core material (sandwich material), adhesive (structural adhesive), etc., and their cost accounts for 36%, 28%, 12% and 11% respectively. In the next five years, with the rapid growth of China's offshore wind power installation scale, the demand for wind power materials such as carbon fiber, matrix resin (epoxy resin, polyether amine), core material (sandwich material), structural adhesive and grouting material will be greatly driven.
Everbright Securities Company Limited(601788) it is suggested to pay attention to the targets of listed companies corresponding to the field of wind power materials: (1) Sinopec Shanghai Petrochemical Company Limited(600688) , Jilin Chemical Fibre Co.Ltd(000420) and Jilin Carbon Valley in the field of carbon fiber; (2) Resin field: epoxy resin field China Petroleum & Chemical Corporation(600028) , Sinochem International Corporation(600500) , Swancor Advanced Materials Co.Ltd(688585) , Epoxy Base Electronic Material Corporation Limited(603002) , polyether amine field Wuxi Acryl Technology Co.Ltd(603722) , Yangzhou Chenhua New Material Co.Ltd(300610) , Zhejiang Huangma Technology Co.Ltd(603181) ; (3) Sobute New Materials Co.Ltd(603916) in the field of grouting materials; (4) Puyang Huicheng Electronic Material Co.Ltd(300481) , Changzhou Tiansheng New Materials Co.Ltd(300169) in the field of sandwich materials; (5) Hubei Huitian New Materials Co.Ltd(300041) , Kangda New Materials( Group) Co.Ltd(002669) in the field of structural adhesive.
(Securities Times)
