By 2012 it is expected to reach $26.8 billion. In terms of value, aluminum alloys and rare earth magnets (NdFeB) have been the top two segments in China’s advanced metals and alloys industry, accounting for more than 80% of the value of China’s advanced metals and alloys market in 2006, according to research published by BCC.
The consumption of energy materials in China in 2006 saw a soaring growth of 116.8% over 2005, reaching $1.1 billion. This astonishing expansion was due to the substantial leap of solar cell production and the soaring price of imported multicrystalline silicon in 2006 in China. In the next five years, domestic planned multicrystalline silicon projects will be put into operation, and the price of multicrystalline silicon will stabilise. The overall energy materials segment is currently worth $1.8 billion and is expected to be worth $2.9 billion in 2012, a compound annual growth rate of 10.1%.