How did China’s mold market develop in 2020

The 2020 epidemic has caused many uncertain and unconventional market changes. Industries in all countries of the world have been severely affected, and the mold industry has also suffered greatly. However, China's mold industry has a large market and many investment opportunities for industrial upgrading. Mold is an important process equipment in material forming and processing. It can produce a large number of valuable and high-quality parts, which are widely used in machinery, automobile, aviation, light industry, medical and other fields. Therefore, there is a large demand in the domestic and foreign markets.

The "2020-2024 China Mould Industry Market Supply and Demand Status Quo and Development Trend Forecast Report" released by the New Ideas Industry Research Center pointed out that in recent years, the mold industry is shifting from developed countries such as the United States, Japan, and Germany to China, mainly due to domestic molds downstream industry is developing fast, large in scale, and demand is constantly escalating.

In 2019, the market size of China's mold industry exceeded 200 billion yuan. There are many manufacturers in China’s mold industry, with more than 30,000 in 2019, but most mold manufacturers have only simple equipment, insufficient R&D investment, low mold technology content, and limited overall competitiveness. They still need to import a lot of mold products every year. Among imported mold products, plastic rubber molds and stamping molds account for a relatively high proportion. In 2019, these two types of molds together accounted for more than 85%.

China's mold industry is also undergoing industrial upgrading, and the development situation is good, mainly reflected in the large scale of domestic mold production and demand, and continuous growth. Large and medium-sized enterprises in the tool industry continue to increase investment to build new projects or carry out technological transformations, combined with government industrial planning, and continue to promote the construction of mold industry parks, forming industrial chain supporting and scale competition advantages in a certain area. In the mold market, the domestic rail transit, medical equipment, aerospace and other mid-to-high-end areas continue to expand, which has greatly promoted the industrial upgrading of the mold industry.

In addition, the domestic mold industry has formed a strong industrial chain competitive advantage in the fierce competition. It has been exported to more than 170 countries. However, compared with imported high-end molds, the technical level and price of exported molds need to be further improved. Although China's mold industry has many enterprises and large scale, it still has a certain gap with developed countries such as Japan, Germany, and the United States in terms of professionalism.

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