Roll- Forging Technology of Automotive Front Axle Precision Performing and Die Design

IERI Procedia 1 (2012) 166 – 171

QG,QWHUQDWLRQDO&RQIHUHQFHRQ0HFKDQLFDO,QGXVWULDODQG0DQXIDFWXULQJ (QJLQHHULQJ

5ROO)RUJLQJ7HFKQRORJ\RI$XWRPRWLYH)URQW$[OH3UHFLVLRQ 3HUIRUPLQJDQG'LH'HVLJQ 5X[LRQJ/,D6RQJKXD-LDRE -LQOY:DQJD D

'HSDUWPHQWRI0HFKDQLFDODQG(OHFWULFDO-LQJGH]KHQ&HUDPLF,QVWLWXWH-LQJGH]KHQ&KLQD E ,QWHUQDWLRQDO%XVLQHVV'HSDUWPHQW%DQNRI&RPPXQLFDWLRQV-LQJGH]KHQ&KLQD F 'HSDUWPHQWRI0HFKDQLFDODQG(OHFWULFDO1DQFKDQJ+DQJNRQJ8QLYHUVLW\1DQFKDQJ&KLQD 

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

 ‹3XEOLVKHGE\(OVHYLHU%9 © 2012 Published by Elsevier B.V. 6HOHFWLRQDQGSHHUUHYLHZXQGHUUHVSRQVLELOLW\RI,QIRUPDWLRQ(QJLQHHULQJ5HVHDUFK,QVWLWXWH Selection and peer review under responsibility of Information Engineering Research Institute  .H\ZRUGVDXWRPRELOHIURQWD[OHUROOIRUJLQJSURFHVVDQDO\VLVGLHGHVLJQ

,QWURGXFWLRQ )URQWD[OHLVRQHRIWKHPRVWLPSRUWDQWVDIHW\SDUWVDQGLWLVDOVRWKHELJJHVWDQGPRVWKHDY\IRUJLQJSDUWV 



&RUUHVSRQGLQJDXWKRU7HO (PDLODGGUHVVODQJ[XH#FRP



2212-6678 © 2012 Published by Elsevier B.V. Selection and peer review under responsibility of Information Engineering Research Institute doi:10.1016/j.ieri.2012.06.026

167

Ru-xiong LI et al. / IERI Procedia 1 (2012) 166 – 171

LQDXWRPRELOHZKLFKUHTXHVWWKHIURQWD[OHWREHKLJKHUVWUHQJWKDQGIDWLJXHVWUHQJWK7KHSDUWVDUHFRPSOH[ VKDSH V\PPHWULFDO VKDSH EXW ELJ VHFWLRQ IOXFWXDWH HVSHFLDOO\ WKH VWHHO SRVLWLRQ DQG  VWRSSHU SRVLWLRQ LWV FURVVVHFWLRQLVQRWRQO\GHHSEXWQDUURZLWLVRQHRIWKHPRVWGLIILFXOW\ORQJVKDIWW\SHIRUJLQJV>@ 5ROOIRUJLQJLVDQDGYDQFHGSODVWLFVKDSLQJWHFKQRORJ\ZKLFKZDVZLGHO\DGRSWHGLQZRUOGZLGHDWSUHVHQW ,W FDQ EH WKH SHUIRUPLQJ EHIRUH IRUJLQJ DQG GLUHFWO\ UROO IRUJHDEOH SLHFH WRR 7KLV WHFKQLTXH QRW RQO\ FDQ REWDLQWKHDFFXUDWHVKDSHǃVL]HDQGVPRRWKVXUIDFHEODQNEXWDOVRKDYHWKHYLUWXHRIKLJKSURGXFWLYLW\ORQJ OLIHRIWKHPRXOGKLJKPDWHULDOXWLOL]DWLRQUDWLRRIPDWHULDODQGVRRQ)URQWD[OHSUHFLVLRQUROOIRUJLQJIRUP WHFKQLTXHVDUHQRYHOW\ǃ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ǃQDUURZ FURVVVHFWLRQRIWZRHQGVVWRSSHUZLOO PDGHLWXQHDVHWRILOODQG IRUP IRUDQ\ NLQGRIIRUJLQJPHWKRGV7RUHDOL]HWKLVWHFKQLTXHLWQHHGVWRREWDLQWKHPD[LPXPVSUHDGLQEODQNPDNLQJ UROOIRUJLQJ7KHIURQWD[OHVDUHXSSHUDQGORZHUV\PPHWULFDORQJWKHPDLQD[LVEXWRQWKHORQJVHFWLRQLW¶V OHIW DQG ULJKW SDUW DUH DV\PPHWULF VR LW ZLOO OHDG WKH IRUJHGSLHFH EHQG IRU WKH ODUJH LQKRPRJHQHRXV GHIRUPDWLRQLQWKHUROOIRUJLQJSURFHVV1+5IURQWD[OHHQJLQHHULQJGUDZLQJDVILJVKRZV 7HFKQRORJLFDOSURFVHHVDUHDVIROORZ %ODQNLQJVDZPDFKLQH ėLQWHUPHGLDWHIUHTXHQF\LQGXFWLRQKHDWLQJėWKUHHSDVVHVRISUHFLVLRQUROOIRUJLQJ ėEHQGėIRUJLQJ E\ K\GUDXOLF GLH IRUJLQJ KDPPHUėWULPPLQJėFRUUHFWLRQėWHVWLQJėKHDW WUHDWPHQWė SLFNOLQJWKURZLQJSLOO ėILQDOWHVWLQJ 3URFHVVVFKHPHRISUHFLVLRQSHUIRUPLQJIRUJHUROOLQJ )RUJLQJJUDSKDQGUROOIRUJLQJJUDSK ,QIRUJLQJSLHFHGHVLJQLQJWKHVHOHFWLRQSULQFLSOHRIGLHSDUWLQJIDFHǃSURFHVVUHGXQGDQF\DQGWROHUDQFHǃ GUDXJKW DQJOH DUH VLPLODU ZLWK GLH IRUJLQJ 5ROOIRUJLQJ JUDSK LV H[SDQGHG IURP WKH IRUJLQJSLHFH JUDSK PDLQO\GHSHQGVRQWKHFKRRVLQJRIQHXWUDOOD\HUFRHIILFLHQW7DNH'VROLGPRGHOLQJWRWKHUROOIRUJLQJJUDSK DQG IRUJLQJSLHFH JUDSK LW FDQ JHW SK\VLFDO GDWHV RI HDFK VHFWLRQIRUJLQJSLHFH IRU VXFK DV YROXPHǃWKH PD[LPXPDQGPLQLPXPVHFWLRQDODUHD)LJLVWKHUROOIRUJLQJJUDSK

 )LJ1+5IURQWD[OHHQJLQHHULQJGUDZLQJ)LJ'LDJUDPRIIURQWD[OHUROOIRUJLQJZRUNSLHFH





168

Ru-xiong LI et al. / IERI Procedia 1 (2012) 166 – 171

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¡PPîPP UROOIRUJLQJSDVVGHWHUPLQH 5ROOIRUJLQJSDVVDUHWKHJXDUDQWHHRIUROOIRUJLQJSLHFHIRUPLQJDQGSURGXFWLYLW\JDLQ0RUHUROOIRUJLQJ SDVVZLOOLQFUHDVHWKHGLHTXDQWLW\ǃH[WHQGRSHUDWLQJWLPHǃGHFUHDVHSURGXFWLYHFRQWUDU\OHVVUROOIRUJLQJ SDVV ZLOOOHDGWRXQUHDVRQDEOHPHWDOGLVWULEXWLRQRULQWHQVLILHGWKHGHIRUPDWLRQUHIOHFWWKHQH[WUROOIRUJLQJ DQG FDQQRW JHW  WKH UROO IRUJLQJ VL]H 7KH PDLQVWD\ RI UROOIRUJLQJ SDVV GHWHUPLQH DUH PHWDO HORQJDWLRQ DQG FRPSOH[LW\RIIRUJLQJIRUPLQJWKHUROOIRUJLQJSDVV1FDQEHUHTXHQF\FRHIILFLHQWRIHORQJDWLRQGHWHUPLQHDV IROORZ 1 = OJ λ OJ λ   ,Q WKH IRUPXOD ȱLV WKH WRWDO HORQJDWLRQ FRHIILFLHQW λ = ) )PLQ  )PLQ LV WKH PLQLPXP FURVVVHFWLRQ RI UROO IRUJLQJ SLHFH λ LV WKH PHDQ FDUULHU IUHTXHQF\ FRHIILFLHQW RI HORQJDWLRQ  JHQHUDOO\ λ =  −  IRU WKH 1+5 IURQWD[OH λ =  WKXVLWFDQJHW 1 = OJ  OJ =  ILQDOO\LWFDQGHWHUPLQHWKDWWKHUROOIRUJLQJSDVVLV WKUHHWKDWLVVD\EODQNPDNLQJUROOIRUJLQJǃSUHPRXOGLQJUROOIRUJLQJDQGILQDOIRUPLQJUROOIRUJLQJ 6SHFLDOUROOHUVKDSHGGHVLJQRIW\SLFDOVHFWLRQ 6SULQJVHDWZLOOEHIRUPHGLQWKHVWǃQGDQGUGSDVVWKHZLGWKRIVSULQJVHDWLVODUJHWKDQWKDWRIWKHRWKHU WKHUHIRUHWKHVWSDVVRIEODQNPDNLQJUROOIRUJLQJVKRXOGKDYHIRUFHGH[SDQGJURRYH6RWKHEODQNPDNLQJ UROOIRUJLQJGLHGHVLJQHGDVSHFLDOVHFWLRQWLOHVKDSHVHFWLRQVORWDQGLQVFULEHUHVLVWDQFHVORWZKLFKFDQVROYH WKHLQKRPRJHQHRXVGHIRUPDWLRQDQGWKHUHTXHVWVWUHWFKLQWKHELOOHWUROOIRUJLQJ)LJLVWKHJURRYHRIVSULQJ VHDW7KHELOOHWHQWHULQWRWKHQGSDVVIURPWKHVWSDVVLWVKRXOGWXUQRYHUeEXWQRWIRUWKHUGSDVV







D E F D E F D E F  )LJ6SULQJVHDWJURRYH)LJ,EHDPJURRYH)LJWZRHQGVRIILVWJURRYH D WKHVWSDVVE WKHQGSDVVF WKHUGSDVV

7KHPLGGOH,EHDPDOVRZLOOEHIRUPHGLQWKHVWǃQGDQGUGSDVVWKHPLGGOH,EHDPDGRSWV\PPHWULFDO ER[W\SHJURRYHVKRZQDVILJ7KLVNLQGRIJURRYHKDVWKHYLUWXHRIVWDEOHLQWKHUROOSURFHVVDQGXQHDVH GXPSIRUUROOSLHFH)LJLVWKHJURRYHRI,EHDP 7KHILVWSDUWZLOOEHIRUPLQWKHWUHHSDVVHVIRUJLQJZKHQHQWHULQWRWKHQGSDVVLWVKRXOGDOVRWXUQRYHU



169

Ru-xiong LI et al. / IERI Procedia 1 (2012) 166 – 171

eLWV JURRYH WDNH V\PPHWULFDO ER[ W\SH WKH ILQDO IRUPLQJ RI ILVW LV EOHQG DQG GLHIRUJLQJ WKHUHIRUH LW QHHGQ¶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



D E 

F G 



)LJ%DVLFVHFWLRQSULPLWLYHRIIURQWD[OHUROOIRUJLQJSLHFHD ,EHDPVHFWLRQE VSULQJVHDWVHFWLRQF WUDQVLWLRQVHFWLRQG WZR HQGVRIILVWVHFWLRQ



170

Ru-xiong LI et al. / IERI Procedia 1 (2012) 166 – 171

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¢FRQYHUVLRQIRUPXODDVIRUPXOD VKRZV / × D   α= π × 5( + 6 ) ,QWKHIRUPXOD5LVRIUROOIRUJLQJSLHFH6LVWKHIRUZDUGVOLSYDOXHLQWKHUROOIRUJLQJSURFHVVJHQHUDOO\ YDOXH5ROOIRUJLQJGLHVHFWLRQDQGVSDWLDOSRVLWLRQRISLORWOLQHDUHVKRZLQILJ







)LJ6SDWLDOSRVLWLRQJUDSKRIGLHVHFWLRQ)LJ0RGHORIPLGGOHWUDQVLWLRQERG\)LJ6ROLGPRGHORIURXQGGLHEORFN

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ǃILJVKRZ



171

Ru-xiong LI et al. / IERI Procedia 1 (2012) 166 – 171





)LJ'LHPRGHORIILQDOIRUPLQJUROOIRUJLQJ)LJ'LHPRGHORISUHPRXOGLQJUROOIRUJLQJ

'LHPDWHULDO 5ROOIRUJLQJGLHEHDUODUJHSUHVVXUHDQGLWVZRUNLQJVLWXDWLRQLVUHSHDWHGO\KHDWDQGFRROHYHQWKHKHDWLQJ WHPSHUDWXUHUHDFKWRć7KXVRQWKH IXQFWLRQRI DOWHUQDWLQJLQQHU VWUHVV WKHUPDOIDWLJXHFUDFNDUH HDVLO\RFFXU)RUWKRVHUHDVRQVWKHPDWUL[RIGLHVWHHOFDQ¶WEHWRRVRIWRWKHUZLVHPRGXOHZLOOFDXVHFROODSVH GHIRUPDWLRQWKHVHFWLRQVORWVXUIDFHVKRXOGEHKLJKHUKDUGQHVVDQGZHDUUHVLVWDQFHRWKHUZLVHWKHIURQWD[OH FRXOGQ¶WPHHWWKHUHTXLUHPHQWRIUROOIRUJLQJSLHFH6RRQWKLVUHVHDUFKWKHGLHPDWHULDOXVHDOOR\VGLHVWHHORI &U1L0RKHDWWUHDWPHQWKDUGQHVVLV+5&

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ǃTXDOLILHGUDWH DQGZRUNLQJFRQGLWLRQ

5HIHUHQFHV >@+RQJ6/HH6.LP1$3DUDPHWULF6WXG\RQ)RUPLQJ/HQJWKLQ5ROOIRU0LQJ>-@-RXUQDORI0DWHULDOV 3URFHVVLQJ7HFKQRORJ\ a >@.LP6,P<7KUHHGLPHQVLRQDO)LQLWH(OHPHQW$QDO\VLVRI1RQLVRWKHUPDO6KDSH5ROOLQJ>-@-RXUQDORI 0DWHULDOV3URFHVVLQJ7HFKQRORJ\  >@ ,DQNRY 5 )LQLWH (OHPHQW 6LPXODWLRQ RI 3URILOH 5ROOLQJ RI :LUH>-@ -RXUQDO RI 0DWHULDOV 3URFHVVLQJ 7HFKQRORJ\  >@*+HQNHOPDQ*-RKDQQHVVRQDQG+-yQVVRQLQ7KHRUHWLFDO0HWKRGVLQ&RQGHQFVHG3KDVH&KHPLVWU\ HGLWHG E\ 6' 6FKZDUW] YROXPH  RI 3URJUHVV LQ 7KHRUHWLFDO &KHPLVWU\ DQG 3K\VLFV FKDSWHU  .OXZHU $FDGHPLF3XEOLVKHUV  >@ /, 5X[LRQJ :$1* -LQOY %ODQNPDNLQJ UROO IRUJLQJ SURFHVV DQG QXPHULFDO VLPXODWLRQ RI ' GHIRUPDWLRQIRUDXWRPRWLYHIURQWD[OH0DFKLQHU\'HVLJQ˂0DQXIDFWXUH