News Release

In recent years, in the field of automotive hardware mold products, with the introduction of new models, the replacement of old models, and the continuous expansion of domestic and foreign vehicle and component production scale, the demand has also been increasing. Around obtaining new supply channels, world hardware mold manufacturers with advanced technology and national hardware mold manufacturers with cost competitiveness are strengthening their respective business fields and accelerating the construction of hardware mold production systems. According to Luo Baihui, the head of the International Mold and Hardware Plastic Industry Supplier Association, manufacturing an ordinary sedan requires an average of about 1500 hardware parts. With China's current increasing automobile production, foreign investment has entered China to set up factories. To meet both domestic and export demand, the demand for automotive hardware parts will inevitably become a good opportunity for China's hardware mold industry to enter the upgrading and upgrading stage.
Due to the rapid development of domestic hardware molds and significant technological advancements, coupled with the low prices of domestic hardware molds, in recent years, many hardware molds of some joint venture brands in China have shifted from being imported from abroad to being purchased domestically. Meanwhile, as the international competitiveness of China's domestic automotive hardware mold industry gradually increases, some foreign brand cars are also increasingly purchasing hardware molds from China. Some car manufacturers in Germany and the United States have incorporated the products of numerous Chinese hardware mold factories into their global procurement chains. This trend has not only become clear, but also with the optimization of production technology by local enterprises, the advantages of the domestic hardware mold industry in the international market will be further highlighted. Luo Baihui, the head of the International Mold and Hardware Plastic Industry Supplier Association, pointed out that domestic mold manufacturers are optimistic about the automotive hardware mold product market, but the imbalance in the development of the domestic hardware mold industry is also worth paying attention to. Although China's automobile production is astonishing, many of it comes from the investment and large-scale production of well-known foreign automobile brands. At the same time, as an important link in mastering the lifeline of the industry, the development progress of hardware molds has experienced regional imbalances. For example, the traditional automotive hubs of Guangdong in South China started later than Shanghai in East China and Changchun in North China, especially for hardware molds with the highest added value, mainly used for manufacturing automotive panels. The development of the South China mold market is almost blank.

The automotive hardware mold industry in China still needs technological improvement, but this will not change the pattern of the global automotive industry generally considering China as the preferred automotive production base. GeertvanderLinden, International Customer Manager at UddeholmToolAB, clearly stated that China and the Czech Republic are currently the most popular automotive production bases in the world, and he himself is quite optimistic about the market prospects in China.

The Chinese automotive mold market is showing strong growth momentum with the vigorous development of automobiles, and accelerating the localization of automotive hardware molds is the primary task of the automotive parts industry. It is widely recognized that without the low cost of domestic molds, there would be no rapid development of domestic brand cars, but low cost does not necessarily mean low level. While developing multiple varieties at a low cost, the rapid development and quality improvement of domestic brand cars cannot be achieved without the improvement of the level of domestic hardware molds. Domestic cars not only need to continue to develop in the mid to low end market, but also will continue to increase their market share in the mid to high end market. This trend is also very obvious. This will inevitably put forward higher and higher requirements for automotive hardware mold products, which is also an inevitable trend in the automotive stamping mold market. Hardware mold enterprises should fully recognize this trend and rely on technological progress to maintain low costs and continuously improve mold quality.