Analysis on the current situation and development trend of China's automobile injection mold Market in 2021

China business intelligence network news: in the downstream application industry of molds, the automobile manufacturing industry has a large use of molds. 95% of the parts in automobile production need to be molded by molds. The main types of molds used include injection molds, stamping molds, forging molds, casting molds, etc.

China's automobile production and sales volume has ranked first in the world for 11 consecutive years. China's market share in the global automobile manufacturing industry has increased from 13.78% in 2008 to 28.23% in 2019. Affected by the COVID-19, China's automobile production will be affected to a certain extent from 2019 to 2020. According to the data, China's automobile production in 2019 was 25.53 million, a year-on-year decrease of 8%. From January to October 2020, China's automobile production was 18.98 million. The continuous development of the automotive industry has promoted the growth of the market demand for automotive molds.

Data source: Statistics Bureau and China Commercial Industry Research Institute

As an industrial support, the development level of molds is affected by the development of downstream industries such as automobile, electronics, aerospace, military industry, medical treatment, building materials and so on. According to the data, the sales revenue of Enterprises above Designated Size in China's mold industry reached 272.7 billion yuan in 2019. The China Academy of commerce industry predicts that the sales revenue of Enterprises above Designated Size in China's mold industry will reach 281.6 billion yuan in 2020.

Data source: wind, China Business Research Institute

Development trend of automobile injection mold industry

1. Personalized and high-end automobile consumption

With the improvement of residents' income level, cars have gradually become an essential travel tool for every family. On the one hand, due to the different consumption abilities of different groups and the great differences in individual needs, China's automobile consumption market presents obvious personalized characteristics. On the other hand, consumers have higher and higher demands for the safety and function of cars. Under the background of the steady improvement of residents' consumption ability, the consumption structure of China's automobile consumption market tends to be high-end. In order to adapt to the new trend of automobile consumption, both joint venture automakers and independent brand automakers actively seek differentiation, innovate in vehicle model design, selection of materials and parts, and electronization, and develop a variety of automobile models that meet the aesthetic characteristics, consumption habits and different levels of needs of Chinese consumers. Personalized and high-end automobile consumption requires the supply of more kinds of interior and exterior trim parts, which puts forward higher requirements for the types, structural accuracy and manufacturing process of automobile interior and exterior trim molds, which is an important driving force for the development of automobile interior and exterior trim mold industry.

2. The cycle of new model development and old model modification is continuously shortened

The introduction of new models and the acceleration of the upgrading of the original models have become an important feature of the development of China's automotive industry. On the premise of the continuous improvement of residents' consumption ability, people's consumption concept and aesthetic pursuit are also changing, which gradually shortens the best-selling period of a car. Whether it is a new model or an old model, it often involves the overall or partial renewal of the automotive interior and exterior trim parts, and these updates require the customization of the corresponding automotive interior and exterior trim molds. Therefore, the acceleration of the development of new models and the renewal of old models provides a huge market demand and development space for the development of the automotive interior and exterior trim mold industry.

3. Vehicle lightweight

Automobile lightweight is not only an important direction of the future development of automobile, but also an inevitable trend of the development of automobile industry. On the one hand, vehicle lightweight can reduce energy consumption per unit mileage, save energy and reduce emissions, which is in line with the general trend of energy conservation and emission reduction. On the other hand, lightweight can improve mileage and reduce "mileage anxiety", while the demand for lightweight of new energy vehicles is more urgent. As an important part of automobile, interior and exterior trim parts undertake the development mission of automobile lightweight, and vehicle manufacturers attach great importance to the lightweight of interior and exterior trim. The lightweight of automotive interior and exterior trim parts puts forward new requirements for the molding process of interior and exterior trim molds, which is an important driving force for the development of automotive interior and exterior trim mold industry.

For more information, please refer to the "Research Report on market prospects and investment opportunities of China's automotive injection mold industry" released by the China Academy of commerce industry. At the same time, the China Academy of commerce industry also provides services such as industrial big data, industrial intelligence, industrial research report, industrial planning, park planning, the 14th five year plan, industrial investment attraction and so on.