Market Overview:
The global turning cutting tool insert market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for turning cutting tools in various industries such as machinery, automotive, aerospace and energy. In terms of type, the carbide segment is expected to hold the largest share of the global turning cutting tool insert market during the forecast period. This can be attributed to its high wear resistance and toughness properties as compared to other types of inserts such as ceramics and CBN. In terms of application, the machinery industry is expected to hold the largest share of the global turning cutting tool insert market duringthe forecast period.
Product Definition:
A turning cutting tool insert is a small, triangular piece of metal with sharp edges that is used in a lathe to cut or shape materials. The importance of using a turning cutting tool insert is that it allows the user to create precise cuts without damaging the material.
Carbide:
Carbide is a solid, crystalline, and extremely hard material. It has high melting point and unique physical properties. Carbide is used in various industries including metal cutting tools, cement production, glass cutting tools & machinery (for example: windshields),agricultural equipment (for example: sickle),high-speed steel production machinery & tooling materials for metallurgical applications such as smelting & casting of metals or non-metallic minerals.
Ceramics:
Ceramics is a group of solid materials that are resistant to heat, electricity and chemical reactions. The most common types of ceramics include alumina, zirconia (TZP), silicon carbide (SiC), titania (TiO2) and cordierite. Ceramic materials are used in various industries including automotive & transportation, energy & power generation industries due to their excellent properties such as lightweight high strength corrosion resistance temperature etc.
Application Insights:
The machinery industry accounted for the largest share of over 40% in 2017. The growth can be attributed to the increasing demand for high-performance cutting tools from various industries, including construction, mining and quarrying, civil engineering, automotive and transportation. Increasing use of these tools in manufacturing various machines and equipment is expected to drive their demand over the forecast period.
Automotive sector is also anticipated to witness significant growth owing to rising disposable income levels coupled with growing middle-class population across developing countries such as India and China. In addition, stringent government regulations regarding safety are driving the need for advanced automotive components which include airbags along with other safety features such as electronic stability control systems that require more complex machinery parts over time.
Regional Analysis:
Asia Pacific is anticipated to be the fastest growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for high-quality steel in various applications. The region is witnessing an increase in foreign investments coupled with rising industrialization and improving economic conditions, which are expected to drive the product demand over the forecast period.
The Asia Pacific was followed by Europe, which accounted for 26% of total revenue share in 2017 due to stringent regulations regarding carbon emissions and toxic gas emission into atmosphere resulting into substitution of conventional cutting tools with turning tools that reduce workplace exposure and improve overall employee health & safety standards.
North America was estimated as the third largest market accounting for 21% of total revenue share in 2017 on account of presence major players such as HSS Tooling Inc.; D2S Group; Colfax Corporation; Sargent Metalcrafters, Inc.; Boral Turbogasket Company; UGI Industrial Machinery Ltd., etc.
Growth Factors:
- Increasing demand for Turning Cutting Tool Inserts from the automotive and aerospace industries due to the growth of these sectors.
- Growing demand for Turning Cutting Tool Inserts in China and other developing countries as their economies grow.
- Advances in technology that result in better performance of Turning Cutting Tool Inserts, increasing their adoption by manufacturers.
- Price reductions of Turning Cutting Tool Inserts through technological advances and increased production volumes that make them more affordable to buyers.
Scope Of The Report
Report Attributes
Report Details
Report Title
Turning Cutting Tool Insert Market Research Report
By Type
Carbide, Ceramics, CBN, Others
By Application
Machinery Industry, Automotive Industry, Aerospace Industry, Energy Industry, Others
By Companies
Sandvik, Kennametal, Iscar, Mitsubishi, Kyocera, Sumitomo, Mapal, Korloy, YG-1, Hitachi, Sandvik, Shanghai Tool, Ingersoll Cutting Tools, Ceratizit, Guhring, Xiamen Golden Erge, North American Carbide
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Turning Cutting Tool Insert Market Report Segments:
The global Turning Cutting Tool Insert market is segmented on the basis of:
Types
Carbide, Ceramics, CBN, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Machinery Industry, Automotive Industry, Aerospace Industry, Energy Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sandvik
- Kennametal
- Iscar
- Mitsubishi
- Kyocera
- Sumitomo
- Mapal
- Korloy
- YG-1
- Hitachi
- Sandvik
- Shanghai Tool
- Ingersoll Cutting Tools
- Ceratizit
- Guhring
- Xiamen Golden Erge
- North American Carbide
Highlights of The Turning Cutting Tool Insert Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Carbide
- Ceramics
- CBN
- Others
- By Application:
- Machinery Industry
- Automotive Industry
- Aerospace Industry
- Energy Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Turning Cutting Tool Insert Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Turning Cutting Tool Insert is a tool that is inserted into the turning tool to provide more control and accuracy when cutting. It can be used to make precise cuts in hard materials, such as metal or plastic.
Some of the major companies in the turning cutting tool insert market are Sandvik, Kennametal, Iscar, Mitsubishi, Kyocera, Sumitomo, Mapal, Korloy, YG-1, Hitachi, Sandvik, Shanghai Tool, Ingersoll Cutting Tools, Ceratizit, Guhring, Xiamen Golden Erge, North American Carbide.
The turning cutting tool insert market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Turning Cutting Tool Insert Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Turning Cutting Tool Insert Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Turning Cutting Tool Insert Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Turning Cutting Tool Insert Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Turning Cutting Tool Insert Market Size & Forecast, 2018-2028
4.5.1 Turning Cutting Tool Insert Market Size and Y-o-Y Growth
4.5.2 Turning Cutting Tool Insert Market Absolute $ Opportunity
Chapter 5 Global Turning Cutting Tool Insert Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Turning Cutting Tool Insert Market Size Forecast by Type
5.2.1 Carbide
5.2.2 Ceramics
5.2.3 CBN
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Turning Cutting Tool Insert Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Turning Cutting Tool Insert Market Size Forecast by Applications
6.2.1 Machinery Industry
6.2.2 Automotive Industry
6.2.3 Aerospace Industry
6.2.4 Energy Industry
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Turning Cutting Tool Insert Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Turning Cutting Tool Insert Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Turning Cutting Tool Insert Analysis and Forecast
9.1 Introduction
9.2 North America Turning Cutting Tool Insert Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Turning Cutting Tool Insert Market Size Forecast by Type
9.6.1 Carbide
9.6.2 Ceramics
9.6.3 CBN
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Turning Cutting Tool Insert Market Size Forecast by Applications
9.10.1 Machinery Industry
9.10.2 Automotive Industry
9.10.3 Aerospace Industry
9.10.4 Energy Industry
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Turning Cutting Tool Insert Analysis and Forecast
10.1 Introduction
10.2 Europe Turning Cutting Tool Insert Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Turning Cutting Tool Insert Market Size Forecast by Type
10.6.1 Carbide
10.6.2 Ceramics
10.6.3 CBN
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Turning Cutting Tool Insert Market Size Forecast by Applications
10.10.1 Machinery Industry
10.10.2 Automotive Industry
10.10.3 Aerospace Industry
10.10.4 Energy Industry
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Turning Cutting Tool Insert Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Turning Cutting Tool Insert Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Turning Cutting Tool Insert Market Size Forecast by Type
11.6.1 Carbide
11.6.2 Ceramics
11.6.3 CBN
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Turning Cutting Tool Insert Market Size Forecast by Applications
11.10.1 Machinery Industry
11.10.2 Automotive Industry
11.10.3 Aerospace Industry
11.10.4 Energy Industry
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Turning Cutting Tool Insert Analysis and Forecast
12.1 Introduction
12.2 Latin America Turning Cutting Tool Insert Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Turning Cutting Tool Insert Market Size Forecast by Type
12.6.1 Carbide
12.6.2 Ceramics
12.6.3 CBN
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Turning Cutting Tool Insert Market Size Forecast by Applications
12.10.1 Machinery Industry
12.10.2 Automotive Industry
12.10.3 Aerospace Industry
12.10.4 Energy Industry
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Turning Cutting Tool Insert Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Turning Cutting Tool Insert Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Turning Cutting Tool Insert Market Size Forecast by Type
13.6.1 Carbide
13.6.2 Ceramics
13.6.3 CBN
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Turning Cutting Tool Insert Market Size Forecast by Applications
13.10.1 Machinery Industry
13.10.2 Automotive Industry
13.10.3 Aerospace Industry
13.10.4 Energy Industry
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Turning Cutting Tool Insert Market: Competitive Dashboard
14.2 Global Turning Cutting Tool Insert Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sandvik
14.3.2 Kennametal
14.3.3 Iscar
14.3.4 Mitsubishi
14.3.5 Kyocera
14.3.6 Sumitomo
14.3.7 Mapal
14.3.8 Korloy
14.3.9 YG-1
14.3.10 Hitachi
14.3.11 Sandvik
14.3.12 Shanghai Tool
14.3.13 Ingersoll Cutting Tools
14.3.14 Ceratizit
14.3.15 Guhring
14.3.16 Xiamen Golden Erge
14.3.17 North American Carbide
