中美博弈新战场：中国超硬材料全球占比95%，直击美军工与半导体

Core Viewpoint - The Chinese government has implemented export controls on superhard materials and related technologies, targeting the U.S. military and semiconductor industries, indicating a shift in the competitive landscape between China and the U.S. [1][11] Industry Overview - China's superhard materials industry has a total output value of approximately 100 billion yuan, with the country being the world's largest producer of industrial diamonds and cubic boron nitride single crystals, accounting for over 95% of global industrial diamond production [1][3] - The superhard materials sector is experiencing rapid growth, with over 41,500 companies and an annual growth rate exceeding 15% [5][11] Strategic Importance - Functional diamonds, which have high infrared transmittance and low optical self-emission rates, are crucial for advanced military applications, including infrared search and tracking systems, high-power microwave weapons, and high-energy laser systems [5][7] - The U.S. and Japan have recognized the strategic importance of functional diamonds, previously placing high-end diamond materials and semiconductor diamond design technologies under export controls [5][11] Competitive Landscape - The superhard materials industry in China is highly concentrated, with Henan province alone accounting for 80% of cultivated diamond capacity and 90% of industrial diamond capacity [3][7] - The complete supply chain for superhard materials in China reduces reliance on foreign sources, enhancing the country's competitive edge [7][9] Market Reaction - Following the announcement of export controls, stocks in the superhard materials sector saw significant gains, indicating strong market confidence in the strategic value of these materials [11][13] - The demand for functional diamonds in high-end manufacturing is increasing, supported by national policies, which may lead to the elimination of less competitive firms and the strengthening of leading companies [11][13] Future Outlook - China's superhard materials industry is transitioning from a focus on quantity to a focus on technological advancement, potentially increasing its influence in international markets [13] - The global industrial landscape is shifting, with the U.S. facing challenges in production due to a lack of critical materials, highlighting the importance of superhard materials in modern technology [13]