Ultra-hard materials mainly refer to diamond and cubic boron nitride. Diamond is the most hard material known in the world at present, and the hardness of cubic boron nitride is only second to that of diamond. The hardness of these two materials is much higher than that of the abrasive materials such as corundum and silicon carbide, and the cutter materials such as cemented carbide and high-speed steel. Compared with traditional hard material tools, diamond has longer service life, less loss and higher efficiency in industrial processing, especially unmatched advantages in processing hard materials. Luo Baihui, secretary-general of the International Association of Suppliers of DIE, Hardware and Plastics Industry, pointed out that the continuous growth and substitution effect of the world industry in the future will continuously promote the expansion of the artificial diamond industry. The output of synthetic diamond in China increased rapidly from 1.6 billion carats in 2001 to 9 billion carats in 2010, with a compound annual growth rate of 16.4%. The output of synthetic diamond in China accounted for more than 70% of the total output in the world.
With the continuous maturity of synthetic diamond production technology and the continuous improvement of output, the price of diamond products presents a long-term downward trend, and the prominent cost performance constantly promotes the replacement of traditional hard materials and tools. Among them, there has been a trend of diamond bit replacing other hard material bit for petroleum exploration bit, which can be proved by the performance evolution trend of Jiangzuan.
Expansion in downstream applications drives fast growth in the synthetic diamond industry. In the last century, about 50% of synthetic diamond was used to manufacture diamond grinding tools, but with the progress of technology and the emergence of new application fields, the application field of synthetic diamond expanded rapidly.
On one hand, it is the product upgrading in the existing traditional application field, that is, the penetration from the low-end application field to the high-end application field, such as the emergence of polycrystalline composite sheet, so that diamond tools, finishing tools, wire drawing dies and other types of diamond tools are rapidly developed and promoted.
On the other hand, it is the expansion of new application fields. Among them, the development space of the oil bit field has been opened. Compared with the roller bit, PCD bit has a long service life, improves the drilling efficiency and has significant economic benefits. It is expected that in the next few years, 40000 PCD oil drills will be required per year in China. Irrespective of the recycling of petroleum bit, according to the calculation of 30-50 composite slices (unit price: RMB 200; conservatively estimated according to the growth rate of 5%) required for each PCD petroleum bit, China will require about 1.2 million~200000 composite slices per year in the next few years, with the market scale of about 240 million~400 million yuan.
In addition, in the field of photovoltaic and electronic industry, artificial diamond also began to emerge. Among them, wafer cutting and other links in the upstream of the electronic industry have been widely promoted in Japan and Taiwan markets. At present, the emerging LED, especially the sapphire cutting link, will be another emerging field of diamond cutting line.
Based on the above factors, it is obvious that funds have successively flowed into the stocks of ultra-hard material plates in the near future, among which the performance of the stocks of Sifangda, Henan Diamond and Yellow River Cyclone producing synthetic diamonds is the most eye-catching, which deserves the attention of investors.
