国产化绝缘纸在驱动电机上的应用：车企降本压力下的新机遇

Investment Rating - The investment rating for the automotive industry is "Positive" [3] Core Viewpoints - The performance of domestic aramid paper materials is now comparable to imported materials, with dielectric constants showing minimal differences [1] - The cost-effectiveness of domestic aramid paper is highlighted, being approximately 30% cheaper than imported alternatives, leading to cost savings of 20 RMB per water-cooled motor and 13.5 RMB per oil-cooled motor when switching to domestic materials [1][11] - There remains significant room for domestic substitution, with domestic aramid paper currently holding a market share of about 40%, indicating a potential 60% market space for further growth [1] Summary by Sections 1. Performance Comparison - Domestic aramid paper's dielectric strength is nearly on par with imported materials, with some thicknesses even outperforming them [7] - In high thickness materials, domestic products show slightly lower performance compared to imports [7] 2. Cost Analysis - Imported aramid paper prices range from 300 to 1250 RMB/kg, while domestic prices range from 200 to 1000 RMB/kg, making domestic options 20% to 30% cheaper [10][12] - Cost savings per motor when using domestic aramid paper are quantified, with water-cooled motors saving about 20 RMB and oil-cooled motors saving 13.5 RMB [11] 3. Market Potential - The market for aramid paper in the new energy vehicle sector is estimated at approximately 4.95 billion RMB annually, with potential growth to 10.07 billion RMB by 2030 as domestic production increases [2][13] - The projected demand for aramid paper in the new energy vehicle market is based on expected sales of 12.866 million units in 2024, translating to a requirement of about 1415.26 tons of aramid paper [2][13]