Tungsten Carbide Cutting Tools Market Forecast

According to the tungsten carbide cutting tools market forecast made by China's machine tool industry association tools branch,in the next five years, China's market of tungsten carbide cutting tools will remain higher than the overall GDP growth rate, a conservative forecast of 10% -15%; high-end carbide With the industrial upgrading of the tool and to further improve the level of equipment, will continue to maintain high growth, it is expected to grow more than 15%.

In addition, according to China's "tool industry," second Five Year Plan "(draft recommendation)," an explicit proposal to significantly improve efficiency of domestic tungsten carbide cutting tools in manufacturing high-end market share, targets the high-end market share to From around the current 15% to 30% -40%; and conceive again 2-3 five-year plan period, so that the localization rate gradually increased to the average level of developed countries, 60% -70%. To accomplish this goal, the localization rate of average annual growth rate will reach 20%. It can make another tungsten carbide cutting tools market forecast: production of tungsten carbide cutting tools will also reach a new historical level during"Twelve Five" period.


 

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