China's New Materials Industry Output Expected to Exceed 8 Trillion Yuan in 2024

2025-03-31 14:08:01

At the "Standards Upgrade Leading the Optimization and Upgrading of Raw Materials Industry" press conference held by the Ministry of Industry and Information Technology (MIIT) on December 17, Chang Guowu, Director of the Raw Materials Industry Department of MIIT, announced that from January to November this year, the total output value of China's new materials industry has grown by over 10% year-on-year. It is projected to surpass 8 trillion yuan for the full year, marking the 14th consecutive year of double-digit growth. The number of large-scale enterprises in the new materials sector has now exceeded 20,000.

Moving forward, MIIT will focus on three key strategies—addressing weaknesses, leveraging strengths, and forging new advantages—to accelerate the development of the new materials industry and establish it as a new growth engine. Key initiatives include:

1. Accelerating Breakthroughs in Core Technologies:

• Strengthening industry-academia-research-application collaboration to enhance the resilience and security of supply chains for critical materials in key sectors such as next-generation information technology and aerospace equipment.

2. Expanding the "Shelf Product" Supply Capacity:

• Upgrading materials with technological advantages, improving the competitiveness of market-leading materials, and proactively developing cutting-edge materials to achieve a pipeline of "R&D一批, reserve一批, application一批" (one batch in R&D, one in reserve, and one in application).

3. Optimizing the Innovation Platform System:

• Enhancing the public service capabilities of existing platforms while launching the second phase of key new materials platforms, advancing the construction of a big data center for new materials, and accelerating the development of pilot-scale testing platforms.

4. Fostering a Favorable Industry Environment:

• Implementing an updated version of the first-application insurance compensation policy for new materials, improving standards coordination, strengthening industry-finance collaboration, intensifying talent cultivation, and actively promoting international cooperation.

This comprehensive approach aims to both meet immediate demands for major applications and secure long-term leadership in materials innovation.