At present, China's petrochemical industry is moving in the direction of large-scale, large-scale and internationalization, and it will maintain sustainable development in the next five years. Tens of thousands of tons of oil refining equipment and one million tons of ethylene equipment will be newly built, renovated and expanded domestically, opening up a vast market for the demand for petrochemical pumps. In addition, various types of pumps currently in operation at various refineries in the country have become obsolete and are in urgent need of renewal and transformation.

The development direction of Sinopec's pumps in the next five years will be large-scale, high-speed, mechanical and electrical integration, as well as complete sets of products, standardization, serialization and generalization. In particular, the production technologies of high-temperature pumps, cryogenic pumps, cryogenic pumps, precision metering pumps, anti-corrosion pumps, conveying viscous mediums, and pumps with solid particles and canned pumps will rapidly develop, and the demand will increase substantially.

China's apparent consumption has reached a quarter of the world's highest level and close to the global total consumption. The per capita consumption of stainless steel has reached 3.4KG, ranking the forefront of developing countries. The stainless steel pump has excellent characteristics such as corrosion resistance, high strength, light weight and long service life. In recent years, stainless steel pumps have been widely used in shipbuilding, rail vehicles and other transportation industries. With the development of machinery manufacturing, stainless steel pumps will have a broader application prospects. However, the growth rate of consumption has gradually slowed down, and the ultra-high-speed development stage with an average annual growth rate of over 30% has changed into a steady development stage with a current growth rate of 6.43%.

Stainless steel itself will play an active role in the areas of energy, petrochemical, electric power, mining and other fields that China has focused on due to its characteristics of corrosion resistance, high temperature resistance, and wear resistance. Today, stainless steel pumps are increasingly involved in the field, among which demand in the water industry, construction and structural industries, environmental protection industries, and industrial facilities will also increase year by year.

At present, the stainless steel pipeline in Tokyo, Japan has reached 76%, and the pipeline leakage rate has dropped from the original 14.7% to the current 7.5%. After the earthquake in Osaka, Japan, stainless steel water tanks were intact. Recently, Japan has developed a bellows joint that reduces the construction cost of the stainless steel water transmission pipeline by 20%, the total cost by 3%, and the maintenance cost by 3/4.

The stainless steel pump driven by the stainless steel industry has a good market development prospect. It is not only a stainless steel water pump for civilian use but also a stainless steel industrial pump for industrial applications. It is estimated that the stainless steel pump market in China will reach 3 billion in the past ten years.