Tool and die makers see $2.8-B market by 2034

By Beatriz Marie D. Cruz, Senior Reporter

THE tool and die market is projected at $2.8 billion by 2034, driven by the increasing demand for precision components across automotive, electronics, and manufacturing applications, the Philippine Die Manufacturers Association (PDMA) said.

Such a market size would translate to a compound annual growth rate of 8.05%, it said in a statement.

The Philippine tooling market was valued at $1.3 billion in 2025, the PDMA said.

Globally, the dies and molds segment account for 40.8% of the market, with automotive users taking up over 60% of the mold market.

The Philippine automotive market is expected to account for 1.09 million units by 2034 from 515,400 units in 2025, it added. 

The die and mold and automotive industries are among the key growth drivers of domestic manufacturing, the Philippine Economic Zone Authority (PEZA) has said.

“Around the world, industries are rapidly transforming through automation, artificial intelligence-driven systems, precision engineering, smart mobility, and advanced manufacturing technologies,” Anidelle Joy M. Alguso, PEZA deputy director general for Finance and Administration, said in a briefing.

She noted that the electronic manufacturing services and semiconductor manufacturing services (EMS-SMS) industries are key drivers of investment and employment in manufacturing.

PEZA reported that EMS and SMS account for 32.98% of total approved investments. The industry is composed of 471 registered EMS-SMS firms, generating over P1.1 trillion in cumulative investments and 368,000 jobs.

She also noted that the automotive industry has 55 PEZA-registered enterprises, accounting for over P70 billion in investments and 53,000 jobs.

PEZA said the die and mold segment is a critical industry for advanced manufacturing, with 172 die and mold enterprises generating investments valued at P60 billion and about 61,000 jobs.

The agency is looking to strengthen partnerships with industry, academia and government to boost manufacturing industries such as automotive and dies and molds, it said. 

“This is why we in PEZA continue to strengthen long-standing partnerships with industry associations, academia, and government institutions through initiatives on workforce, upgrading, advanced manufacturing, precision tooling, innovation, and technology development,” Ms. Alguso said.