China's Cutting Tool Market - The Global Market?

As the rapid development of China's automobile, aerospace, military industry, abrasives products and other precision manufacturing industries such as electric power, the requirements for quality and quantity of metal processing cutting tool are improved rapidly.

There are about $25 billion of cutting tool markets around the world, and China accounts for about one over ten of the cutting tool markets, about 20 billion yuan, including about 5 billion yuan of high-end cutting tool market. So far, the imported cutting tools still have absolute superiority in the high-end cutting tools market.

China's cutting tool markets are everywhere, which really can be called the global market. China's high speed steel, cemented carbide and other cutting tool materials whose applications all rank among the top of the world, and in the market, we can also see tool products from Germany, Japan, the United States, Israel, South Korea, Sweden, France, Italy, Spain and other countries. Like OSG, YAMAWA, EMUGE, Guhring, Titex, Dormer and other imported cutting tools have occupied high-end customer market of many processing industries.

But most domestic tools are used by some customers that have lower requirements, such as agricultural machinery, motorcycles, agricultural vehicles, general machinery and machine-building industry. The added value of these industry products is relatively low, so it also has the low requirements for machining accuracy. It is cheap, but the machining precision and efficiency are also reduced.

High speed steel drill bits have great export volume, and high-end HSS twist drills still depend on the imports; 

PCD/CBN cutting tools are mainly focus on cheap blades and simple reamer and cutter, and precision PCD/CBN reamers with a guide bars still need to import; Most boring cutters and shanks are only for BT/SK, and two sides positioning high-speed shanks are only produced recently. High-precision hydraulic chuck and deformation chuck are still in its infancy.

After years of hard work and efforts, some domestic tool enterprises have fortified the foundation now, and most enterprises attach great importance to technology and quality. The product quality is stable, gradually replacing the imported products. This is undoubtedly the revitalization of China's tool industry and they are elite enterprises in China’s cutting tool industry.