EB SECURITIES: Siasun Robot&Automation Resonates with Materials, Lightweight Materials Have a Promising Future in the Physical AI Era

EB SECURITIES has issued a research report stating that growing lightweighting demand for humanoid robots is driving simultaneous expansion across multiple categories of new chemical materials, including ultra-high molecular weight polyethylene (UHMWPE) and PPA. In addition to carbon fiber and PEEK, UHMWPE, with its high strength, light weight, wear resistance and self-lubricating properties, is a core material for dexterous hand tendon ropes and joint transmission, and Zhejiang Yunzhongma has positioned itself in upstream high-end capacity through a stake in Zhongxi New Materials. Materials such as PPA (high-temperature nylon) also have broad application prospects in core components including robot joints, gear bearings and connectors. Taking Kingfa Sci. & Tech. (600143.SH), a leading domestic specialty engineering plastics company, as an example, the company has established a dedicated robot materials R&D team and is actively carrying out collaborative material development and cooperation with leading companies in the robotics field, having successively launched series products such as ultra-high-strength, fatigue-resistant and wear-resistant PPA, significantly improving the motion performance and stable, durable performance of key components in the embodied intelligence field. The main views of EB SECURITIES are as follows: The implementation of physical AI and mass production of humanoid robots are ushering in certain incremental space for lightweight materials. Physical AI is driving artificial intelligence from digital simulation toward interaction with the physical world, with embodied intelligence as its core implementation form; humanoid robots, as the core carrier of embodied intelligence, are moving from the laboratory demonstration stage into large-scale industrial deployment. Compared with traditional industrial robots, humanoid robots designed for complex-scenario operations impose stricter performance requirements on structural parts for lightweighting, high flexibility, fatigue resistance and high response sensitivity, directly reshaping the demand logic for upstream chemical lightweight materials. According to forecasts by the Ministry of Industry and Information Technology, China's full-year humanoid robot unit production is expected to exceed 100,000 units in 2026, and first-half data further corroborate this momentumChina's quadruped robots already account for nearly 70% of global sales volume, while humanoid robot products number more than 400 models, exceeding half of the global total. Currently, the humanoid robot industry is crossing the critical threshold from laboratory to factory: global sales were 3,000 units in 2024 and shipments jumped to more than 13,000 units in 2025, with growth momentum beginning to emerge; over a longer horizon, Omdia forecasts global sales will reach 605,700 units in 2030 and are expected to climb to 2.6 million units in 2035. Carbon fiber meets the rigid demand for lightweighting, and robot volume ramp-up is driving demand higher. The core value of carbon fiber in humanoid robot applications lies in building a lightweight, high-strength "skeletal system," addressing core issues such as short battery life, clumsy movement and poor durability, and providing a material foundation for large-scale implementation. Using high-performance carbon fiber to build the body skeleton and core structural parts can greatly reduce overall unit weight while effectively avoiding deformation failure under dynamic operations; its good corrosion resistance and environmental adaptability can also ensure robots maintain stable performance under multiple operating conditions. Currently, domestic T300 and T700-grade carbon fiber have achieved large-scale application, T800-grade is steadily advancing toward mass production, and T700T800 grades can already meet most structural part requirements for humanoid robots. However, the self-sufficiency rate for T1000-grade and above high-end products is less than 10%, and there remains a gap with overseas leaders in prepreg design, composite material molding processes and cost control, which restricts further penetration of domestic carbon fiber in the robotics field. As humanoid robots gradually move toward scale, the application share of high-end carbon fiber will continue to rise, and process optimization and technological upgrading are expected to accelerate the opening of incremental space for domestic substitution. PEEK's performance advantages stand out, leading the humanoid robot lightweighting track. Gaogong Robot Industry Research Institute (GGI) estimates the global humanoid robot market size at approximately US$1.017 billion in 2024, expected to reach US$15 billion by 2030, with a CAGR of more than 56% from 2024 to 2030. Lightweighting is one of the better solutions for achieving payload capacity, battery life and flexibility in humanoid robots. PEEK material has high rigidity while also possessing high toughness, along with excellent properties such as heat resistance, corrosion resistance and wear resistance. In addition, as a thermoplastic material, PEEK is also easy to process into parts of various shapes for use in various special components or special operating conditions. At the same time, pure PEEK resin has a density of only about 1.3 g/cm3, even lower than the density of carbon fiber materials, making it an excellent lightweight material. In summary, PEEK material itself meets the requirements of high-strength lightweight new materials and has high application potential in the humanoid robot field. Growing lightweighting demand for humanoid robots is driving simultaneous expansion across multiple categories of new chemical materials, including UHMWPE and PPA. In addition to carbon fiber and PEEK, UHMWPE, with its high strength, light weight, wear resistance and self-lubricating properties, is a core material for dexterous hand tendon ropes and joint transmission, and Zhejiang Yunzhongma has positioned itself in upstream high-end capacity through a stake in Zhongxi New Materials. Materials such as PPA (high-temperature nylon) also have broad application prospects in core components including robot joints, gear bearings and connectors. Taking Kingfa Sci. & Tech., a leading domestic specialty engineering plastics company, as an example, the company has established a dedicated robot materials R&D team and is actively carrying out collaborative material development and cooperation with leading companies in the robotics field, having successively launched series products such as ultra-high-strength, fatigue-resistant and wear-resistant PPA, significantly improving the motion performance and stable, durable performance of key components in the embodied intelligence field. Risk warnings: technology substitution risk, risk that downstream promotion and application fall short of expectations, and raw material price fluctuation risk.