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At present, the annual sales revenue of cutting tools in China is 14.5 billion yuan, of which hard alloy cutting tools account for less than 25%. This is not only far from the product structure of cutting tools in the international market, but also cannot meet the growing demand for hard alloy cutting tools in the domestic manufacturing industry. In the domestic manufacturing industry, the proportion of hard alloy cutting tools has exceeded 50%, and the problem of supply and demand structure disconnection is very serious. The consequence is that a large number of surplus high-speed steel cutting tools are exported or sold domestically at low prices, while high-efficiency hard alloy cutting tools have to rely on a large amount of imports. The import volume has increased from 90 million US dollars in 2001 to 450 million US dollars (about 3.6 billion yuan) in 2005.

The material of the cutting tool is the fundamental factor determining the cutting performance of the tool, which has a significant impact on machining efficiency, machining quality, machining cost, and tool durability. When using carbon tool steel as the tool material, the cutting speed is only about 10m per person/nln; At the beginning of the 20th century, high-speed steel cutting tool materials emerged, with cutting speeds increasing to tens of meters per minute; In the 1930s, hard alloys emerged, with cutting speeds increasing to over 100 to several hundred meters per minute; The emergence of ceramic cutting tools and superhard material cutting tools has increased the cutting speed to over 1000 meters per minute, and the development of processed materials has greatly promoted the development of tool materials.

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