Dies, jigs and other tools are used to convert raw materials into a required shape in various manufacturing industries such as automobiles, metalworking, electronics and plastics manufacturing. Dies, jigs and other tools are generally used as an attachment to a machine. A die is a specialized tool used in manufacturing industries for cutting and shaping material. Dies are generally customized to the item they are used to create. Jigs and fixtures include tools for checking, gauging, inspection, welding positioners and fixtures for use with machine tools.
The global dies, jigs and other tools manufacturing market is expected to grow from $56.8 billion in 2018 to $88.8 billion in 2023 at an annual growth rate of more than 9.3%. The dies, jigs and other tools market is expected to benefit from technological developments such as additive manufacturing, laser applications and advances in processing equipment.
Die and tool manufacturers are using laser applications to enhance precision and reduce processing time. Laser cutting technology significantly reduces the processing time required for cutting applications and thus reduces production costs. Metals including mild steel, stainless-less steel and aluminum can be cut with high precision by using lasers. Other benefits of laser technology include a high feed rate (tool’s distance travelled during one spindle revolution) and minimal heat input. Major companies producing laser-based tool manufacturing equipment are Atlas Die, Radiant Laser Cut, Advanced Laser Dies and Artize Die Makers.
Automation tools and robotic solutions are being used by tool manufacturers to reduce downtime and increase productivity. Automatic tools include the use of computerized control systems for operating manufacturing equipment. Major automatic tools include smart camera systems, intelligent control systems, shop floor monitoring systems, 3D vision technology and robotic material handling systems. Robots allow faster assembling of complex components as compared to traditional manufacturing techniques. Robots automate milling, trimming, drilling, cutting and forming processes, thereby reducing the production time. Automation further enables machine manufacturing companies to significantly increase production volumes with automation technologies, thereby decreasing production costs and increase profit margins. Major companies using automation include DMTG, DMG Mori, SMTCL, Mazak, and Haas Automation.
These technological developments are expected to boost the profit margins for tool manufacturing companies, which enable companies in this industry to further invest in new product launches and entry into new markets, thereby driving the dies, jigs and other tools market.