China's hardware tool scale rapid growth
In recent years, China's tool industry has experienced remarkable growth and continues to expand at a strong pace, with expectations of reaching new historical milestones. According to recent data, the domestic tool market recorded a growth rate of 25 to 30% in the first half of the year. Although the growth rate slowed down in the second half, the industry still managed to achieve an annual growth of around 15%. Compared to this, the global tool market has seen a steady recovery over the past few years, but even with conservative estimates, its annual growth remains between 3 to 5%.
Overall, the development of hardware tools in China is thriving. The manufacturing process of these tools often relies on molds, which significantly benefits the country’s mold industry. Additionally, the rapid growth of the Chinese hardware tool sector is closely tied to its strong domestic demand. Data from the tool branch revealed that in 2012, the total production of cutting tools in China reached 35 billion yuan, while exports of cutting tools amounted to 8.5 billion yuan, representing a 21.4% year-on-year increase. Based on this growth trend, it is projected that tool consumption will exceed 48.5 billion yuan in 2013.
The massive market demand plays a key role in driving the prosperity of China's cutting tool industry. As consumer demand continues to rise, the scale of tool production is expanding rapidly. With the ongoing development of the tool market, the demand for tool dies in China is expected to grow, further boosting the domestic mold industry. This dynamic environment presents numerous opportunities for both domestic and international players looking to tap into the growing Chinese market.Tungsten Electrode with their special properties, such as low thermal expansion and good thermal conductivity, enough resistance resistance, high modulus of elasticity. So tungsten rods are widely used in various fields.We have Red Tungsten Electrode, Blue Tungsten Electrode, White Tungsten Electrode, WP Type Electrode Pure Tungsten, WZr3 Type Electrode Zirconiated Tungsten, WZr8 Type Electrode Zirconiated Tungsten .The customer can choice based on their need .
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