Development of tungsten steel tool industry

With the continuous development of tungsten steel tool industry in China, the demand and requirements of hardware tool factories for mold products are gradually increasing. The domestic market has a growing demand for medium and fine molds. The development of household appliances, automobiles, and plastic products industries has also put forward higher requirements for mold tools, thus providing a broad market space for China's mold tool industry. At the same time, the technology of the industry has also been further developed. China has reached the world's advanced level in related core technologies. Compared with foreign countries, the relatively low labor force makes the production cost occupy a great advantage. Therefore, China's mold tools are facing dual opportunities at home and abroad.
According to relevant tungsten steel tool data, in recent years, China has used nearly 1 billion dollars to import molds every year, of which large, complex and long-life molds account for the majority. With the support of the state for independent products, imports will gradually decrease, thus bringing new development opportunities to domestic brands.
The tungsten steel tool industry in China started late, and the hardware tool factory focused on low-end products for a long time in the early stage. However, with the gradual transformation, new opportunities for the industry have been put in front. With the continuous development of relevant technologies in China, the development of middle end mold props is gradually accelerating, and the gap between China and developed countries is getting smaller and smaller, which still has great prospects in the future.
China will continue to maintain a stable development speed, providing reliable macro support for the development of tungsten steel mold industry. In the future development of the industry, technological innovation is naturally the main factor, and technological upgrading is necessary. This is an important condition for the rapid development of the industry and market demand. The mold market will show a steady upward trend.