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华金证券:磁体材料迭代推动产业升级 看好磁体行业需求
智通财经网· 2026-02-09 03:45
Group 1 - The core viewpoint is that the fusion industry is entering an accelerated phase driven by policy support and capital expenditure, with significant developments expected by 2025 as major countries implement fusion policies [2] - The domestic policy support for controllable nuclear fusion is being established at the national level, focusing on optimizing regulatory processes and providing clear guidance for technological research directions [2] Group 2 - Low-temperature superconductors are relatively mature, while high-temperature superconductors are expected to become the mainstream in the future, with both types currently co-developing [3] - Superconducting materials are essential for achieving stable magnetic field confinement in fusion devices, with low-temperature superconductors supporting current operations and high-temperature superconductors being key for next-generation high-field fusion technology breakthroughs [3] Group 3 - The magnet system is a core cost component of fusion projects, with 86% of the component costs in the ITER project attributed to parts, and 28% specifically to magnets, primarily due to the high costs associated with low-temperature liquid helium cooling [4] - In high-temperature superconducting projects, the cost of the magnet system increases further, with the ARC project showing that magnets account for 46% of the costs, indicating a trend towards compact, high-temperature superconducting devices [4] - The market size for second-generation high-temperature superconducting tapes for controllable nuclear fusion devices is projected to reach 300 million yuan in 2024, with an expected growth to 4.9 billion yuan by 2030, reflecting a compound annual growth rate of 59.3% from 2024 to 2030 [4]