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Upgrading of consumption structure, China's cemented carbide has more room for growth
Release Time :
2023-02-23
In recent years, China's tungsten demand has generally been weak, but the cemented carbide market has a large space. Affected by the weakening of the macro economy and the consumption of LEDs replacing tungsten wire, the demand for tungsten in China has generally been weak in recent years. However, considering factors such as the upgrade of consumption structure, the increase in the penetration rate of cemented carbide, and the import substitution of high-end products, China's cemented carbide has a large room for growth.
In recent years, China's tungsten demand has generally been weak, but the cemented carbide market has a large space. Affected by the weakening of the macro economy and the consumption of LEDs replacing tungsten wire, the demand for tungsten in China has generally been weak in recent years. However, considering factors such as the upgrade of consumption structure, the increase in the penetration rate of cemented carbide, and the import substitution of high-end products, China's cemented carbide has a large room for growth.
Cemented carbide is mainly used in cutting tools, mining tools, molds and high pressure and high temperature resistant cavity, among which cutting tools and mining tools account for 33% and 25% of cemented carbide applications respectively. At present, opportunities and challenges coexist in China's cutting tool manufacturing industry, but overall, favorable factors for the development of the industry occupy a dominant position.
The development of domestic mining tools occupies a very important position and role in China's economic construction, scientific and technological progress and social development, and belongs to the pillar industry of the national economy. The mining tool manufacturing industry is the foundation for a country to establish an independent industrial system, and it is also an important symbol for measuring a country's industrial strength. In recent years, China's mining industry has developed rapidly. From the perspective of lasting growth, China's geological mining tool industry still has considerable room for growth. Large-scale railway, highway, mining, and urban reform will continue for at least 10 years. During this period, the demand for high-end mining tools will continue to increase. The increase in the demand for geological and mining tools will drive the demand for cemented carbide to a large extent, and the demand for cemented carbide for geological and mining tools in China has broad prospects.
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