Market Development of Cemented Carbide Round Bars in China
The cemented carbide round bar has special wear resistance, high hardness, excellent fracture toughness and compressive strength. Carbide rod is mainly used to manufacture solid carbide tools, such as PCB drills, end mills, reamers, hole processing and other cutting tools.
The main foreign producers of tungsten carbide round bars include Sandvik, Iscar, Kennametal, Mitsubishi, Kyocera, TaeguTec, Korloy, etc. In 2021, the global demand for cemented carbide bars is 32000 tons, with a year-on-year growth of 9.2%.
Domestic enterprises have advantages in tungsten resources and intermediate smelting, but there is still a big gap between domestic enterprises and advanced overseas manufacturers such as Sandvik in Sweden and Iscar in Israel in terms of tungsten carbide deep processing products.
In 2021, the output of cemented carbide related products in China increases year on year, and the profitability of the industry has been greatly improved. The annual output of cemented carbide in China exceeded 50000 tons, with a year-on-year growth of 24.4%; The total industrial output value exceeded 32 billion yuan, with a year-on-year growth of 24.8%; The profit was 2.835 billion yuan, up 68.8% year on year.
In 2021, China's output of cemented carbide bars will be 15,800 tons, with a year-on-year growth of 34.0%. In 2021, the average price of cemented carbide bars in China will reach 355,000 yuan/ton, and the gross profit rate of cemented carbide bar industry in China reach 30.8% in 2021.
In the future, as the impact of the COVID-19 on the global economy gradually fades, and the "Made in China 2025", "Supply side structural reform" and other policies continue to advance, high value-added cemented carbide products, such as CNC blades, will usher in the opportunity of localized alternative development, and the tungsten carbide industry is expected to develop rapidly. China Tungsten High tech Cemented Carbide Products have a large market expansion space.