Injection moulding tools are critical components in manufacturing, particularly for mass production of plastic parts. With the growing demand for Fibre-Reinforced Polymer (FRP) elements, which are increasingly utilised in the automotive and aerospace industries, moulds are exposed to more significant Tool Wear (TW) and degradation. Beyond FRPs, other manufacturing processes, such as Sheet Metal Stamping (SMS) and Pressing (SMP), also encounter significant challenges associated with TW; therefore, extending the service life of these tools is essential for improving cost efficiency, reducing downtime, and enhancing product quality. This review explores advanced techniques to increase the durability and longevity of injection moulding tools. Essential methods include surface treatments, such as electrodeposition, nitriding, Physical Vapour Deposition (PVD) and Chemical Vapour Deposition (CVD) coatings, which enhance wear and corrosion resistance. Advanced material selection is also discussed, focusing on high-performance coatings used to alleviate Tool Wear (TW) and friction while guaranteeing thermal management, a crucial factor in mitigating Tool Failure (TF). This work's academic contribution demonstrates how the integration of optimised milling strategies and sustainable lubrication techniques can enhance machining efficiency for hardened tool steels. By reducing TW, deformation, and fatigue, these approaches extend tool lifespan (TL) and ensure greater production consistency. This research provides valuable insights into advanced machining techniques’ economic and environmental benefits, offering a foundation for future studies in sustainable manufacturing. Furthermore, the findings serve as a reference for industries aiming to balance cost-effectiveness with ecological responsibility in precision machining.