China's cutting tool industry: striving to transform to meet the demands of the mid to high end market
Recently, according to the work plan of the Media Department of the China Machine Tool and Tool Industry Association, the author interviewed the Secretariat of the Tool Branch and several tool companies (mainly tool companies) through visits and correspondence, and gained a preliminary understanding of the operation and current situation of China's small tool industry, forming some superficial knowledge. A brief summary is as follows.
1、 Industry and Enterprise Overview
It is reported that 2017 was one of the few good years in the history of the tool industry, maintaining a strong production and sales momentum for four consecutive quarters. Sales revenue increased by more than 20% year-on-year, and exports also reached a new high in recent years. Entering 2018, the tool industry first continued the high-speed growth trend of 2017 and continued to maintain rapid growth. But with the gradual decline of the 3C and automotive industries, the growth rate of the tool industry (mainly the small tool industry) has slowed down since the second half of 2018. By the first half of 2019, the tool industry had shown a high-level consolidation with a steady decline. From the data of 40 member companies participating in the monthly report of the Tool Branch, the year-on-year growth rates of sales revenue in the four, five, six, seven, and eight months were -3.3%, -3.4%, -4.4%, and -6.7%, -8.1%, respectively. The month on month growth rates of sales revenue were -5.2%, -10.4%, -4.6%, -19.3%, and 2.7%, respectively. The year-on-year growth rates of profits were -9.9%, -14.4%, -6.5%, -8.8%, and -10%, respectively. The downward pressure is increasing month by month. At the same time, the export of cutting tool products also decreased significantly in the first quarter of 2019, with a year-on-year growth rate of -15.2%. Considering the overall situation of the machine tool industry, the decline of the tool industry, especially the small tool industry, is strongly related to the overall environment and slightly lagging behind, mainly due to the significant decline in user areas such as automobiles and 3C.
At the enterprise level, the situation varies.
According to statistics from the China Machine Tool Industry Association, Shanghai Tool Factory Co., Ltd. (referred to as Shanggong) has had a good overall business situation in recent years, with annual sales and profits at a relatively good level. Seen from the data from January to May 2019, the sales of Shanggong's high-speed steel Fried Dough Twists drills, high-speed steel wire taps and integral carbide tools declined to a certain extent. However, because of its adherence to technological innovation and structural adjustment, and its outstanding performance in engineering machinery, aerospace and other fields, its total product profit increased by 10.5% year on year. In the first half of 2019, Zhuzhou Diamond Cutting Tools Co., Ltd. (referred to as Zhuzhou Diamond or Zhuzhou Diamond) saw a slight year-on-year decline in domestic and foreign sales. However, through active adjustments to market strategies, sales rebounded in May compared to the previous month, narrowing the year-on-year decline and effectively suppressing the downward trend in marketing. Guilin Guanglu Digital Measurement and Control Co., Ltd. (referred to as Guilin Guanglu or Guanglu) saw a slight decrease of about 1% in production and a 15% increase in sales (with a 30% increase in the first quarter). Starting from the second quarter, it became apparent that orders had declined significantly, and sales in the second quarter remained the same as last year, which is rare for Guanglu in the past three to four years. Sentai Inge (Chengdu) CNC Tool Co., Ltd. (referred to as Sentai Inge) had a good performance in the first half of 2019, with a total production value of about 120 million yuan, a year-on-year increase of 21%; The newly signed contract is about 83 million yuan, a year-on-year increase of 16%. Hangzhou Hangjian Tools Co., Ltd. (including Hangzhou Hanggong Tools Co., Ltd., referred to as Hangjian) achieved stable production growth and basic balance of production and sales in the first half of 2019. The production of tap, die and set cutting tools increased rapidly year-on-year. Xiamen Jinlu Special Alloy Co., Ltd. (referred to as Jinlu or Xiamen Jinlu) has reported a slowdown in the growth rate of order demand compared to 2018, but it is still operating normally at present. Zhejiang Xinxing Tools Co., Ltd. saw a 35.1% increase in sales and a 41.1% increase in exports in the first half of the year, with rapid growth in production and sales.
In the first half of 2019, tool companies were more or less affected by the China US trade friction. The one directly affected is Zhuzhou Diamond. Firstly, a 25% increase in tariffs has led to an increase in the export and promotion costs of its cutting tools, weakening its competitiveness in the US market. Secondly, the current tax list includes a large number of cutting tool application industries such as engines and electric motors, which will indirectly cause a significant decline in the export of related products. In addition, some user companies may consider transferring their production lines from China to countries such as Vietnam and ASEAN, leading to a decline in demand for cutting tools. If the United States further implements a 25% tariff on 3C industries such as mobile phones and tablets, it will cause a greater decline in the demand for cutting tools in related industries. The trade friction between China and the United States has had a significant indirect impact on Guanglu Company, resulting in an overall decrease in tool orders due to the impact on its service areas. Hangrui Tools also stated that the trade friction between China and the United States has caused instability in its foreign markets, especially in the US market, in the first half of 2019. It is expected that US customers will significantly reduce orders and demand price reductions in the second half of the year, which will have an impact on its export market.
From the feedback of enterprises, the demand for cutting tools in different fields and the market performance of different cutting tool varieties vary greatly, fully reflecting the specific and segmented characteristics of the cutting tool industry. At present, the fields with good demand for cutting tool products mainly include aerospace, military industry, energy, engineering machinery, rail transportation, heavy machinery industry, etc. Shanggong stated that with the country's increasing emphasis on national defense and aerospace industry, the aerospace industry will become another vigorously developing field after the automotive industry. Especially in the field of aviation component processing, it has almost become the focus of various domestic and foreign tool manufacturers, and has successively launched a series of aviation specific cutting tools. Although the overall scale effect of aviation is not sufficient at present, the market still needs a cultivation process due to the fact that none of the cutting tool manufacturers have entered the formal application system, but the development potential is enormous. At the same time, in the past two years, the development of general machinery fields such as construction machinery and rail transit has been relatively good, and the heavy machinery industry has ushered in a new round of economic growth cycle, with the demand side continuously accelerating the transformation of new driving forces. Among them, the metallurgical industry, mining, and other industries continued to experience growth in the first half of 2019, following a sustained increase in temperature in 2018.
In terms of tool types, overall, the market demand for high-end series products with high technological content and the ability to replace imports is strong, and orders are good. The variety of cutting tools varies among different enterprises. In 2019, Sentai Inge launched new products such as economical hydraulic tool holders, quick change adhesive chucks, and efficient reaming systems, which received high praise from the market and drove sales growth. The tap, die and set cutting tools of Hangrui Tools have grown rapidly year-on-year. Guanglu Company's micrometer and vernier caliper varieties are saturated with orders and in short supply.
二、存在的主要问题和困难
体量小，受重视程度不足。由于刀具行业体量很小，市场规模才不过几百亿，甚至都不足某些领域单个企业的年营销收入，长期以来，被视为机床的附属，未受到足够的重视，国家对产业扶持的力度有待增强。行业基础研究和产品研发投入不足，中高端市场长期被欧美、日韩等品牌占据，国产品难有较大突破。实际上，刀具作为切削加工中的重要组成部分，直接影响切削加工的水平，是衡量一个国家制造业水平的重要因素之一。
人才问题突出。人才问题是目前我国机床工具行业乃至整个机械制造业十分突出的共性问题，已经严重到制约行业整体进步和发展。株洲钻石认为，国内刀具行业起步晚，底子薄。短短几十年的发展历程，无论从技术沉淀还是人才储备方面，都远远不足。森泰英格表示，企业目前面临的最主要问题就是高端技术人才的短缺和流失。厦门金鹭认为，工具行业对专业技术人才、管理人才需求较大，但目前招聘很难。广陆反映，企业处在广西这样的欠发达地区，整体工资水平不高，很难招到高端研发人才，并且目前这个问题很难缓解。
部分企业反映出资金投入有限。上工就反映出，由于上游产品的原材料价格不断上涨，使产品生产成本不断提高，产品出口受到影响。同时，由于资金周转放缓，造成市场需求下降，客户库存不断上升，市场整体形势不容乐观。广陆也遇到资金问题，主要源自同行竞争激烈，产品利润低，且因量具市场体量很小，增长速度缓慢，缺少政策和资金扶持，靠企业自有资金投入非常有限，不能加快技术创新、产品创新的步伐。厦门金鹭等企业也同样反映出运营成本上升及现金流压力较大的问题。
此外，也有企业反映环保压力越来越大。比如上工身处国际化大都市上海，但又以传统制造业为主，如何既使生产流程符合环保要求，又能保证产能不受或少受影响，成为企业当前一个比较棘手的问题。
三、努力转型，满足中高端市场需求
与整个机床工具行业类似的情况是，我国刀具领域中高端市场大多被进口品牌占据。据机床工具协会工具分会秘书处反映，在我国2018年421亿刀具消费总额中，进口刀具（含在中国生产并销售的境外品牌）为148亿，占比达35%。面对2019年及之后可能愈发加重的运行压力，刀具企业都在努力探索转型升级之路。
实现重点领域突破：对于目前经济形势，株洲钻石认为宏观经济或仍将承受下行压力。在中美贸易摩擦等诸多因素影响下，切削刀具行业下半年或将持续回落。株洲钻石将继续采取积极主动的措施来应对市场形势变化，一方面下半年将继续加强市场推广力度，深耕重点应用市场，提升市场占有率；另一方面继续对航空航天、军工、汽车、能源等重点行业的中高端刀具开展专项研发，进一步拓展市场，力争突破更多国外技术壁垒，在中高端切削刀具市场占据更大的份额。
上工对正处于快速发展期的我国航空制造业进行了很多研究，指出，新型飞机及大型飞机的研制对于航空制造加工提出了挑战，对刀具的整体应用也提出了更高的要求。从飞机被加工部位上看，所需刀具可细分为发动机、机翼、机身、起落架等加工用刀具，其中对发动机的加工还可分机闸、叶片、叶盘、扩散器、轴承壳体等。从不同被加工材料上看，可细分为针对HRSA高温耐热合金、铝合金、钛合金、碳纤维增强塑料、高合金钢等不同材料加工的专用刀具。从刀具类型上看，可细分为整体高速钢刀具，整体硬质合金刀具，可转位刀具，PCD焊接式刀具。据统计，在飞机制造领域中，高速钢刀具约占各类切削加工总刀具量的60%，硬质合金刀具约占总刀具量的35%，超硬刀具（立方氮化硼、金刚石）占全部刀具总量不超过5%。这对于在高速钢刀具设计、制造、应用方面优势相对比较明显的上工来讲，有很大的发展空间，但刀具整体配套能力还需进一步提高。
瞄准中高端市场：广陆将在原有产品系列的基础上，增加高端系列产品的研发，瞄准国际高端同类产品技术，与国际高端技术同台竞争，目标市场就是先进口替代，然后再开发国际高端市场。广陆表示，将坚定不移地走中高端路线，以技术研发为先锋，夯实公司基础实力，为客户创造更高价值。杭刃工具表示将更加注重外销市场，关注中美贸易摩擦的影响，及时调整产品布局，进一步开拓欧洲及东南亚等市场。同时，提升产品质量、加大技改和生产规模投入，推广和完善数字化及8S管理。
扩宽用户领域。对于2019年下半年的发展策略及前景预测，森泰英格表示，上半年汽车制造业的下滑在一定程度上影响了增长预期，下半年将加大力气拓宽用户领域，针对能源动力行业、工程机械、电子和航空航天等重点行业进行布局；同时，要满足更多汽车制造业企业降低成本、增加效率的要求，提升产品的质量和稳定性；在未来的几年里将努力提升自身实力，夯实基础，抓住机遇，在转型升级的浪潮中脱颖而出。
上工认为，在工程机械和轨道交通领域，对传统刀具而言，尤其是大规格刀具的需求有所增加，诸如大规格高速钢钻头，M36以上大规格螺旋槽丝锥、整体硬质合金内冷却深孔麻花钻等产品，市场需求都有一定增加。
对于行业未来发展前景，受访企业能够理性看待目前的形势和未来走势，对国家采取的支持实体、减税降费等政策充满信心和期待。同时表示，将针对自身特点和行业形势，积极采取切实可行的重要举措提升产品技术和质量，加强管理，推进两化融合，参与信息化建设，并将针对中美贸易摩擦的影响，变被动为主动，更好地发展国产刀具，努力实现进口替代，为机床工具行业振兴做出更大贡献。
信息来源：中国机床工具工业协会
Editor He Yang of this website/Organizing
