相关报告：智研咨询发布的《中国PCB钻针行业市场现状调查及发展潜力研判报告》 二、PCB钻针行业产业链 内容概要：PCB钻针是用于印制电路板钻孔的工具，藉由贯穿电路板层与层间的接点，以制作出点对点 间的通路，使得电路板上各电子零件得以连通串接。从PCB钻针产业链来看，上游为原材料及生产设 备，原材料主要为碳化钨粉、钴粉等，辅材料为工业气体、磨削材料、涂层辅料及备件、模具制备材 料、包装材料和其他辅材等。中游为PCB钻针生产制造。下游为应用领域PCB领域，PCB广泛应用于服 务器、汽车、消费电子、医疗、工业等领域。全球PCB行业已形成以亚洲为主导、中国为核心的产业格 局。2024年中国大陆地区PCB产值为412.13亿美元，同比增长9.1%，占全球总产值的比重为56%，2025 年产值将进一步扩大至437.3亿美元。未来，消费电子、人工智能、新能源汽车等应用的快速发展，对 PCB的需求将不断增加，PCB行业将继续保持增长态势。受下游PCB市场景气度提升影响，PCB钻针行 业规模也重回增长态势，2024年全球PCB钻针行业市场规模为45亿元，同比增长15.4%；2025年市场规 模将进一步扩大至62亿元，同比增长 ...

Summary of the Tooling and PCB Drill Needle Industry Conference Call Industry Overview - The tooling industry is currently facing challenges due to price wars, leading to poor profit performance. However, several companies have raised prices by double digits, with increases exceeding 50% in some cases. If overseas companies continue to raise prices, domestic firms may follow suit, potentially improving profitability [1][3] - The manufacturing sector is expected to bottom out around 2025 or 2026, with medium to long-term loan data being a key indicator. Tooling orders are anticipated to continue growing, but the growth rate needs to be monitored. The PCB drill needle sector is performing well, although companies are cautious about expanding production [1][4] Market Size and Growth Potential - The Chinese PCB drill needle market was approximately 2.1 billion RMB in 2020, while the global market was around 15.1 billion RMB. It is projected to exceed 10 billion RMB by 2030, indicating significant market potential [1][5] - Tungsten carbide is the primary material for drill needles, and the market share of diamond-coated drill bits is expected to increase. Companies like Ward are making progress in the diamond micro-drill field, and technological breakthroughs may become a future trend [1][6] Raw Material Price Impact - Tungsten carbide powder and cobalt powder account for over 60% of tooling costs. The price of tungsten carbide powder has surged from approximately 300 RMB/kg at the end of March to over 700 RMB/kg, more than doubling. This has led to price increases in the tooling sector, but the lag between rising costs and price adjustments may affect company performance in Q4 and Q1 of the following year [1][7] - China holds 50% of the world's tungsten resources and has implemented a quota system since 2002. A decrease in quotas this year is likely to continue, which may keep tungsten carbide powder prices elevated, exerting cost pressure upstream [1][8] Competitive Landscape - The tooling industry has a high concentration, with leading companies like Ding Tai High-Tech and Jingzhou Zhonggao New Material holding significant market shares and expanding rapidly. Ding Tai's market share is approximately 26.5% [2][11] - The demand for tooling is expected to grow alongside the PCB sector, particularly driven by server demand. The industry is characterized by a few dominant players, with Ding Tai and Jingzhou Zhonggao being the primary leaders [10][11] Future Trends and Recommendations - The order growth in the tooling industry is currently positive, but sustaining this growth rate is uncertain due to potential stockpiling effects. Prices are expected to continue rising, which could help the industry escape the long-standing price war and achieve healthy development [12] - The PCB drill needle segment is performing well, and leading companies are likely to maintain their competitive advantages through scale and R&D capabilities. It is recommended to focus on Ding Tai and Zhong Tung as they may continue to solidify their market positions and expand their competitive edge [14]