Development trend of cutting tools

‌The development trend of cutting tools is mainly reflected in the following aspects:

‌Diversification of market demand‌: With the upgrading and refined division of labor in the manufacturing industry, the application fields of cutting tools have gradually become more refined, and the demand has become more diversified and personalized. For example, the workpieces to be processed have special hardness and strength, special geometric shapes, special chip capacity and chip removal requirements, which requires cutting tool manufacturers to continuously improve their innovation and research and development capabilities and develop more targeted and high value-added products.

‌Material and technological innovation‌: Carbide cutting tools have gradually become the mainstream products in the market due to their high hardness, high toughness and wear resistance. Domestic cutting tool companies have narrowed the gap with the international advanced level by introducing foreign advanced technology and improving their own technical strength, and gradually realized import substitution. In addition, the market penetration rate of CNC cutting tools has increased, and the market size of mid-to-high-end cutting tools has expanded, especially cutting tools based on advanced materials such as cemented carbide, which have adapted to the flexible development trend of advanced manufacturing.

‌Market size and industrial layout‌: In recent years, the scale of China's cutting tool market has continued to expand, and the market share of domestic cutting tools has continued to increase. Domestic cutting tool companies have won a large market share through differentiated product strategies and price advantages. For example, leading enterprises such as Huarui Precision and Okeyi have actively expanded their production scale, improved their self-sufficiency, and demonstrated strong competitiveness in the international market.

Policy support and international market expansion: Policy support and international market expansion have also provided strong support for the development of the tool industry. Domestic excellent tool companies are actively expanding overseas markets and enhancing their international market competitiveness.