Overview of Import & Export of China’s Cutting Tools 2021 & Development Recent Years

1. The Total Consumption Scale, Import and Export Calculation of Cutting Tool Market of China in 2021

The tool branch of China Machine Tool & Tool Builders’ Association (CMTBA) has calculated the total consumption scale and import and export volume of China's tool market in 2021 based on the investigation and analysis of the statistical data of member department, customs data, tool raw material statistical data, tool gathering area data, etc.

tungsten cemented carbide tools

1.1 Total consumption scale of China's cutting tool market in 2021

The total consumption scale of China's cutting tool market increased from 42.1 billion CNY in 2020 to 47.7 billion CNY in 2021, a year-on-year increase of 13.3% (Figure 1), reaching a new high. Among them, domestic cutting tools are about 33.9 billion CNY, accounting for 71%, with a year-on-year increase of 17%; Imported cutting tools (including those produced and sold by foreign brands in China) amounted to 13.8 billion CNY, accounting for 29%, with a year-on-year increase of 5.3%. Domestic cutting tools have increased significantly in the Chinese market, accounting for 2% more than that in 2020. After declining for two years, the proportion of imported cutting tools increased at a low speed, decreasing by 2 percentage points compared with that in 2020.

Figure 1 Changes in the scale of China’s tool market 2005-2021

Figure 1 Changes in the scale of China’s tool market 2005-2021

Domestic tool production and sales (domestic sales + export): 45.3 billion in 2018 (27.3 billion +18 billion); 44.1 billion in 2019 (25.7 billion +18.4 billion), with a year-on-year decrease of 2.6%; 47 billion in 2020 (29billion +18billion), with a year-on-year increase of 6.6%; 56.4 billion in 2021 (33.9 billion +22.5 billion), with a year-on-year increase of 20%.

1.2 Scale of imported cutting tools (foreign brands) in 2021

The total scale of China's tool imports (including foreign brands produced and sold in China) increased from 13.1 billion CNY in 2020 to 13.8 billion CNY in 2021, a year-on-year increase of 5.3% (Figure 2).

There is a certain difference between import data and customs data (including year-on-year growth), because the statistical caliber is not completely consistent. Foreign brands are produced and sold in China.

tungsten cemented carbide tools

Figure 2 Changes in China tool imports from 2005-2021

Figure 2 Changes in China tool imports from 2005-2021

1.3 Export scale of cutting tools of China in 2021

China's tool export increased from 18 billion CNY in 2020 to 22.5 billion CNY in 2021, an increase of 25.45%.

2. Development of Cutting Tools in China in Recent Years

According to the statistical data and investigation and analysis, the development of cutting tool varieties with relatively large production and sales in China in recent years (2018-2021) is introduced.

2.1 significant progress has been made in domestic cutting tools

According to the calculation of the tool branch, the market share of domestic cutting tools in China has increased from 65% in 2018 to 71% in 2021. The export value of cutting tools remained basically stable from 2018 to 2020, with an increase of 25.45% in 2021.

2.2 Tungsten Cemented Carbide cutting tools grow rapidly

a) Change radically of tungsten cemented carbide tools

b) Continuous growth of CNC blades

2.3 High Speed Steel Cutting Tool Market Remains Basically Stable

Read/download the full report:

"Overview of Import & Export of China's Cutting Tools 2021 & Development Recent Years"

This article is modified and translated according to the Chinese Report of China Machine Tool & Tool Builders' Association (CMTBA), The copyright of Chinese version belongs to CMTBA.

Address: 3F, No.25 WH Rd., Xiamen Software Park Ⅱ, FJ 361008,China Copyright © 1997 - 2022 CTIA All Rights Reserved
Phone:+86-592-5129696,+86-592-5129595;    Fax:+86-592-5129797;    Email: sales@chinatungsten.com