plastic mold industry achieves high-quality import substitution Pinyi Technology

Current status of China’s plastic mold industry market: plastic mold industry achieves high-quality import substitution
Pinyi Technology

Although my country’s plastic mold industry started late, it has developed rapidly since the 21st century through the continuous improvement of relevant technologies and management, and now has a considerable scale. Molds have always been called the “mother of industry”. The major mold producing countries in the world have accelerated their pace of expansion overseas, and the competition is relatively fierce.

The output of molds continues to increase
Plastic molds are tools that are used in the plastic processing industry to match plastic molding machines and give plastic products complete configurations and precise dimensions. In the production process, especially in the process of industrial production of mechanical parts, various functional parts must be molded by molds. Now more and more manufacturers use plastic molds to produce and process parts, which also reduces production costs for enterprises. Therefore, plastic molds are increasingly widely used in machinery, automobiles, home appliances, electronics and other fields. Since 2018, my country’s mold production has increased by more than 45% year-on-year each year.
Injection molds occupy a large market share
From the perspective of the mold industry as a whole, plastic molds and stamping molds are the main segments of the mold market, occupying 45% and 37% of the market share respectively, and a total of more than 80%.

Industrial clusters have basically taken shape
Since the development in the early 21st century, my country’s mold industry clusters have basically taken shape. From the overall layout of the domestic mold industry, the Yangtze River Delta, the Pearl River Delta, and the Bohai Rim region have developed well. Among the 213 key Chinese mold companies reviewed and announced by the China Mold Association in August 2018, the mold industry in Guangdong, Zhejiang, Shanghai, Suzhou, Anhui and other provinces and cities leads the country, and cities such as Shenzhen, Ningbo, Suzhou, Taizhou, and Qingdao have become mold companies and talent gathering places. These mold backbone companies are exemplary in brand building, technological innovation, market share, product features and corporate planning, guiding the diversified development of mold companies in various places.

Domestic plastic molds continue to achieve import substitution
From the perspective of imports and exports, among mold products, plastic molds are the largest imported sub-products in my country, and also the largest exported sub-products in my country. Since 2014, my country’s plastic mold imports have been on a downward trend, reaching US$872 million in 2019; at the same time, exports have been on an upward trend. In 2019, my country’s plastic mold exports reached US$3.902 billion, accounting for 62.47% of mold exports. It can be seen that domestic high-quality plastic molds have gradually broken through foreign monopolies and achieved import substitution.

Future technology development trends
Since the development of my country’s plastic mold industry, it has made rapid progress. Plastic mold design and manufacturing technology, CAD and other related technologies have been studied in depth in my country, and modern mold companies are also increasing their research efforts on plastic molds.
Nowadays, in the design and manufacturing of modern plastic molds, CAD, CAE and other technologies have been widely used, making great contributions to the development of the modern plastic mold industry. In addition, electronic information engineering, gas-assisted injection molding, hot runner and other technologies will also be more and more widely used in plastic mold production. With the continuous improvement of social production requirements and corporate processing levels, the production methods and corporate concepts of plastic mold manufacturing are changing, product levels are gradually improving, production cycles are getting shorter, and supporting processing capabilities are further improved. Plastic mold design and manufacturing will become more intelligent and green.