Market Overview of China’s Cemented Carbide Tool Industry in 2020

Market Overview of China's Cemented Carbide Tool Industry in 2020

“China Cemented Carbide Tool Industry Survey and Investment Strategy Report (2020 Edition)” shows that the performance of the tool largely determines the machining quality and production efficiency.

Manufacturing powerhouses such as Germany, the United States, and Japan pay attention to the coordinated and balanced development of modern CNC machine tools and high-efficiency tools. The annual tool consumption scale is about 1/2 of the consumption of machine tools, while the tool consumption in the Chinese market is only 18% of the consumption of machine tools. The gap with developed countries is obvious.

The CNC carbide tools with cemented carbide as the main material have the characteristics of “high precision, high efficiency, high reliability and specialization”, adapting to the flexible development trend of advanced manufacturing, and becoming the development of the cutting tool industry in developed countries Mainstream.

In the consumption structure of China’s cutting tool products, due to the low level of CNC machine tool processing in China, traditional welding tools occupy a large proportion. With the complexity of the structure of processed products, the continuous improvement of processing accuracy requirements and the improvement of production efficiency, Chinese machine tools are gradually transitioning from traditional ordinary machine tools to CNC machine tools. The increase in penetration rate of China’s high-end CNC machine tool market will surely drive the vigorous development of the CNC tool industry.

China is in the stage of adjustment and upgrading of the industrial structure, and numerical control of machine tools is the upgrading trend of the machine tool industry. The rate of new CNC machine tools in China has maintained a steady growth in recent years, mainly related to industrial transformation and upgrading.

The numerical control rate of new metal cutting machine tools in China has increased from 28.83% in 2013 to 39.02% in 2018. According to the “Made in China 2025” plan, the numerical control rate of China’s key processes is expected to reach 50% in 2020, compared to international manufacturing. The numerical control rate of machine tools in strong countries is above 60%, and there is a lot of room for improvement in the degree of numerical control of metal cutting machine tools in China.

As a consumable part of CNC metal cutting machine tools, whether it is the equipment needs of stock machine tools or the incremental demand for new machine tools each year, it will drive the consumer demand for CNC tools.

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