This study refers to an analysis of the dies used in the first operation of producing a valve forging from chromium-nickel steel NC3015. The analyzed process of manufacturing forgings of exhaust valves is realized in the co-extrusion technology, followed by forging in closed dies. This type of technology is difficult to master, mainly due to the increased adhesion of the charge material to the tool substrate as well as the complex conditions of the tools' operations, which are caused by the cyclic thermo-mechanical loads and also the hard tribological conditions. The average durability of tools made from tool steel WLV (1.2365), subjected to thermal treatment and nitriding, equals about 1000 forgings. In order to perform an in-depth analysis, a complex analysis of the presently realized technology was conducted in combination with multi-variant numerical simulations. The obtained results showed numerous cracks on the tools, especially in the cross-section reduction area, as well as sticking of the forging material, which, with insufficient control of the tribological conditions, can cause premature wear of the dies. In order to increase the durability of forging dies, alternative materials made of hot work tool steels were used: QRO90 Supreme, W360, and Unimax. The preliminary tests showed that the best results were obtained for QRO90, as the average durability for the tools made of this steel equaled about 1200 forgings (with an increase in both the minimal and maximal values), with reference to the 1000 forgings for the material applied so far.