Global Metal Cutting Tools Market by Product, Analysis and Outlook to 2025

Market Snapshot

The Global Metal Cutting Tools Market is expected to be valued at USD 23,013.2 Million by 2024, with a CAGR of 6.51% during the forecast period (2019–2024).

The report covers segmentations and drivers for a better glimpse of the market in the coming years. The cutting tools ensure effective manufacturing of critical and intricate components with ease and utmost precision. These cutting tools form an indispensable aspect of machine tools that are either numerically or conventionally controlled. The cutting tool inserts are used in applications, such as threading, milling & shearing, parting & grooving and drilling & boring. The growth of the cutting tools market is driven by various factors such as growing demand from various industry verticals such as automotive, aviation, and oil and gas and growing market for high-speed steel cutting tools. However, the growth of the market can be hindered due to the lack of skilled labor and high cost of titanium carbide alloy tools and other cutting tools.

Competitive Dashboard

Some of the prominent players in the global metal cutting tools market are Hartmetall-Werkzeugfabrik Paul Horn GmbH (Germany), Zhuzhou Cemented Carbide Cutting Tool Co. Ltd (ZCCCT) (China), Kennametal Inc. (US), OSG Corporation (Japan), ISCAR LTD (Israel), MAPAL Dr. Kress KG (Germany), Makita Corporation (Japan), Robert Bosch GmbH (Germany), Stanley Black & Decker, Inc. (US), Klein Tools, Inc. (US), ICS Cutting Tools, Inc. (US), Snap-on Incorporated (US), Hilti Corporation (Schaan, Liechtenstein), Sandvik AG (Sweden), Ingersoll Cutting Tools (US), FRAISA SA (Switzerland), KYOCERA Cutting Tools Group (Japan), Asahi Diamond Industrial Co. Ltd. (Japan), J SCHNEEBERGER Maschinen AG (Switzerland), Vollmer (Germany), CERATIZIT Group (Luxembourg), and Koki Co. Ltd. (Japan).

Koki Holdings Co., Ltd invests in developing new products and technology, improving its distribution network, and enhancing its digital capabilities to market its products over the next few years with the objective to gain higher returns on its invested capital. It focuses on acquisitions to increase its global footprint. For instance, the company strategizes on forming strategic alliances with the global start-ups for improving its position in the cutting tools market.

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Market Segmentation:

The global metal cutting tools market is segmented based on tool type, material type, application, and region. On the basis of tool type, the global market has been segmented into solid round tools and indexable inserts. On the basis of material type, the global market in this report has been segmented into cemented carbide, high speed steel, stainless steel, ceramics, polycrystalline diamond, cubic boron nitride, and exotic materials. On the basis of application, the global market has been segmented into automotive, aerospace & defence, construction, electronics, oil & gas, power generation, wood cutting, die and mold, and others.

On the basis of tool type, the solid round tool segment is projected to witness significant growth during the forecast period due to the growing adoption of solid round tool for various industrial applications, such as solid carbide drilling, milling, HSS tapping, reaming and threading. Hence, the high versatility and adaptability of the solid round tools are expected to drive the solid round tools segment during the forecast period.

Regional Analysis:

Geographic analysis of the global metal cutting tools market spans across Americas, Europe, Asia Pacific (APAC), and Middle East & Africa

In 2018, Asia-Pacific was the leading market with a market value of USD 6,127.3 million. The regional market value is expected to reach USD 9,730.5 Million by 2024 with an impressive 8.12% CAGR during the forecast period.

In 2018, Asia-Pacific dominated the global cutting tools market with 38.6% market share. Rapid growth in the construction and manufacturing in countries such as China, India, and South Korea is expected to increase the demand for cutting tools in the coming years. Moreover, the region is home to one of the largest manufacturing industries for machine tools, automotive, electronics, consumer products and others, globally. Hence, the region is expected to witness the highest CAGR of 8.12% and retain its leading position in the global market during the forecast period.

South Africa, the UAE, and Saudi Arabia are the major contributors of the cutting tools market in the Middle East & Africa. They account for most of the construction and manufacturing activities in the region. Moreover, there is an increasing scope for the growth of the oil and gas industries, which is among the key factors driving the cutting tools market in the region during the forecast period.

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS 27

TABLE 2 GLOBAL METAL CUTTING TOOLS MARKET, BY MATERIAL TYPE, 2014–2025 (USD MILLION) 39

TABLE 3 METAL CUTTING TOOLS TYPES FOR MANUFACTURERS 40

TABLE 4 GLOBAL METAL CUTTING TOOLS MARKET, BY APPLICATION, 2014–2025 (USD MILLION) 42

TABLE 5 GLOBAL METAL CUTTING TOOLS MARKET, BY INDUSTRY, 2014–2025 (USD MILLION) 44

TABLE 6 GLOBAL METAL CUTTING TOOLS MARKET, BY REGION, 2014–2025 (USD MILLION) 46

TABLE 7 ASIA-PACIFIC: METAL CUTTING TOOLS MARKET, BY COUNTRY, 2014–2025 (USD MILLION) 47

TABLE 8 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY MATERIAL TYPE, 2014–2025 (USD MILLION) 48

TABLE 9 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY APPLICATION, 2014–2025 (USD MILLION) 48

TABLE 10 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY INDUSTRY, 2014–2025 (USD MILLION) 49

Continued…….

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LIST OF FIGURES

TABLE 1 LIST OF ASSUMPTIONS 27

TABLE 2 GLOBAL METAL CUTTING TOOLS MARKET, BY MATERIAL TYPE, 2014–2025 (USD MILLION) 39

TABLE 3 METAL CUTTING TOOLS TYPES FOR MANUFACTURERS 40

TABLE 4 GLOBAL METAL CUTTING TOOLS MARKET, BY APPLICATION, 2014–2025 (USD MILLION) 42

TABLE 5 GLOBAL METAL CUTTING TOOLS MARKET, BY INDUSTRY, 2014–2025 (USD MILLION) 44

TABLE 6 GLOBAL METAL CUTTING TOOLS MARKET, BY REGION, 2014–2025 (USD MILLION) 46

TABLE 7 ASIA-PACIFIC: METAL CUTTING TOOLS MARKET, BY COUNTRY, 2014–2025 (USD MILLION) 47

TABLE 8 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY MATERIAL TYPE, 2014–2025 (USD MILLION) 48

TABLE 9 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY APPLICATION, 2014–2025 (USD MILLION) 48

TABLE 10 ASIA-PACIFIC METAL CUTTING TOOLS MARKET, BY INDUSTRY, 2014–2025 (USD MILLION) 49

Continued…….

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