Molds serve as the fundamental process equipment in industrial production, contributing significantly to various sectors like electronics, automotive, appliances, and telecommunications. Approximately 60% to 80% of components in these products rely on molds for shaping, making mold quality the key determinant of product quality. As a result, molds are often referred to as the “mother of all industries.” In 2022, China’s industrial growth reached 4,016.44 billion yuan, with a year-on-year increase of 7.24%. The continuous growth of domestic industrial output has led to an increased demand for molds in the market.
Encouraging Industry Environment and Government Support
The development of the mold industry is crucial for advancing China’s advanced manufacturing sector. According to the policies issued by relevant departments, the Chinese government encourages the enhancement of mold design services, strengthens mold manufacturing capabilities, improves mold reliability and stability, and prolongs product lifespan. Additionally, the government emphasizes the digitalization of mold manufacturing processes and the application of construction robots to promote industry digitization and intelligent upgrades. The government’s commitment to supporting small and medium-sized enterprises in their overseas expansion also aids the mold industry’s growth.
Driving Industry Growth through Market Demand
Molds are indispensable for various production methods such as injection molding, blow molding, extrusion, die casting, and forging, which cater to industries like household appliances, automotive, aerospace, national defense, and civilian production. Currently, the distribution of China’s mold market share is dominated by plastic molds (45%), followed by stamping molds (37%), casting molds (9%), and forging and rubber molds (9%).
Core Materials and Trends in Production
The core materials required for mold production are mold steel and primary plastic. In 2021, China’s mold steel and primary plastic production reached 472,900 tons and 11,039.1 million tons, respectively, with a year-on-year change rate of -5.12% and 4.71%. While mold steel production has seen a downward trend due to profit contraction and weakening demand, the primary plastic production has experienced steady growth.
Projections for the Future of China’s Mold Industry
According to the “2023-2029 Analysis and Future Outlook Report on China’s Mold Industry” by WiseGuy Research Consultants, China’s mold production in 2021 was 24.51 million sets, with a year-on-year growth of 5%. The market size of the industry reached 326.61 billion yuan, with a year-on-year growth of 5.73%. The downstream expansion in application areas and the continuous increase in market demand have propelled the growth of China’s mold industry. Predictions suggest that in 2022, the domestic mold production will reach 25.24 million sets, and the industry market will further expand to 342.94 billion yuan.
Application Areas and the Automotive Industry
China’s mold products are primarily used in the automotive, electronics, IT, and household appliance industries. In 2022, domestic automotive sales reached 26.86 million units, with a year-on-year growth of 2.25%. The steady recovery of the automotive industry and significant growth in the production and sales of new energy vehicles have contributed to the expansion of China’s mold industry.
Expanding Product Exports and China’s Advanced Mold Development
China’s mold manufacturing industry has achieved remarkable progress, resulting in a flourishing export trade. In 2022, the import and export trade volume of China’s mold industry reached 749 million USD and 6.16 billion USD, with year-on-year change rates of -16.35% and 5.12%, respectively. As China’s mold design and manufacturing technology improves, the import trade volume has gradually decreased, while the export trade scale has expanded over the years.
Trends Shaping the Future of Mold Products
The development of high-precision mold products has become a critical factor for China’s mold industry, with products increasingly requiring customization and advanced design capabilities. Companies must adapt quickly to market demands and customer requirements through synchronized research, development, and manufacturing to maintain market competitiveness. The focus on intelligent and networked mold development has also gained significant attention. The integration of CAD/CAE/CAM technology, 3D design, information technology, and the Internet of Things (IoT) will drive the smart and networked development of molds. This trend will lead to structural adjustments and transform the development of China’s mold industry, promoting quality and productivity across various manufacturing sectors while facilitating green and automated production.
A Promising Future for China’s Mold Industry
The panorama of China’s mold industry in 2022 showcases a thriving market with continuous growth and expanding exports. As the country advances in advanced manufacturing and embraces industry digitization and intelligent upgrades, the mold industry is set to play an increasingly vital role. With a focus on precision, customization, and intelligent development, China’s mold industry is poised to achieve new heights of innovation and productivity, contributing significantly to the country’s industrial progress and global competitiveness. As the world embraces the digital age, the mold industry in China stands ready to be at the forefront of this transformation, fueling a brighter future for industrial manufacturing in the years to come.