The output value of Quzhou's new materials industry reached 84.4 billion yuan ($12.24 billion) in 2022, a year-on-year growth of 46.3 percent.
The output value of the city's new materials industrial chain is expected to exceed 100 billion yuan this year, while the scale of the new materials industry is expected to exceed 200 billion yuan by 2026, according to an official of the Quzhou economy and information technology bureau.
The city's new materials industry is characterized by fluorosilicone new materials, new energy materials, and electronic and chemical materials, forming three complete new material industrial systems.
The city has two national-level bases, namely the National Demonstration Base for the New Industrialization of Fluorosilicon New Materials, and China's Electronic and Chemical Materials Industry Base, which lay the foundation for the development of the electronic and chemical new materials industry.
In recent years, a number of leading companies in the electronic and chemical new material industry have sprung up in the city.
The output value of Juhua Group and Zhejiang Zhongtian Fluorine Silicon Co, two leading companies in the electronic and chemical new materials industry, totaled 10 billion yuan in 2022, accounting for 25 percent of the city's total output value of fluorosilicone new materials.
In addition, companies engaged in negative electrode materials, diaphragms and electrolytes, which are necessary for the production of lithium batteries, can also be found in Quzhou, forming a complete power battery industrial chain.