JSSMDL(SH:603530) Chan Ye Xin Xi Wang·2025-08-25 01:21Core Viewpoint - The insulation gasket industry is experiencing steady growth driven by increasing demand in the power sector and emerging fields such as renewable energy and aerospace, with the market size in China projected to reach 15 billion yuan in 2024, a year-on-year increase of 15.4% [1][12]. Industry Overview - Insulation gaskets are critical components used in electrical equipment, power systems, and electronic components, primarily serving to isolate current, prevent short circuits, and ensure safe operation of devices [3][12]. - The market demand for insulation gaskets has been steadily increasing due to rapid economic development and advancements in industrial technology, particularly in the power industry where safety requirements are rising [1][12]. Industry Chain - The upstream of the insulation gasket industry includes raw materials such as rubber, plastic, paperboard, and composite materials, which are essential for production [8]. - The midstream involves the manufacturing process, where companies design and produce insulation gaskets using advanced production techniques [8]. - The downstream applications span various sectors including electrical, electronic, communications, automotive, and construction, highlighting the indispensable role of insulation gaskets in ensuring electrical safety [8]. Current Market Status - The insulation gasket market in China is projected to grow from 130,000 tons in 2020 to 250,000 tons by 2024, reflecting a compound annual growth rate of 17.8% [14]. - The industry has entered a competitive phase, with product quality and performance becoming key competitive factors among companies [16]. Competitive Landscape - Major companies in the insulation gasket industry include Jiangsu Shima Power Co., Ltd., Shenzhen Aochuan Technology Co., Ltd., and Kunshan Zhaoke Electronic Materials Co., Ltd., among others [16][19]. - Companies are focusing on increasing R&D investment to enhance product quality and performance while reducing production costs to meet market demands [16]. Development Trends - High-performance polymer composite materials are expected to gradually replace traditional rubber materials in insulation gaskets due to their superior properties [23]. - The demand for insulation gaskets is diversifying, with significant growth in sectors such as power grid upgrades, 5G base station construction, and the rapidly developing electric vehicle industry [24]. - The industry's transition towards greener practices is being driven by "dual carbon" goals and international regulations, leading to increased focus on environmentally friendly insulation materials [25].