Market Overview:
The global metal cutting tools market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for metal cutting tools from various end-use industries, such as machinery industry, automotive industry, aerospace industry and energy industry. In terms of type, the cemented carbide segment is expected to lead the global metal cutting tools market during the forecast period. This can be attributed to its high wear resistance and toughness properties as compared with other types of metal cutting tools available in the market.
Product Definition:
Metal Cutting Tools are those tools that are used to cut metal. These tools can be divided into two categories- hand tools and machine tools. Handtools include chisels, saws, hammers, punches etc. while machinetools include lathes, mills etc. Metal Cutting Tools are very important because they help in the manufacturing of various objects from metal sheets or rods.
Cemented carbide:
cemented carbide is a composite material, which is made up of cement and carbon. The product has high wear resistance & cutting edge retention property due to the presence of high amount of carbon in it. It also has good toughness & strength properties due to the presence of cement in it. Cemented carbide tools are used for applications where metal cutting edges are required to have extreme wear resistance and hardening effect on steel or other ferrous materials.
High speed steel:
High speed steel is a tool material which has gained popularity in recent years. It is a form of carbon steel with very high carbon content and it offers several benefits over other materials such as cast iron and silicon carbide. High speed steels are used for applications where extreme cutting forces are encountered, i.e., above the average force of friction between the material being cut and the tool surface or between two surfaces to be cut (the coefficient of friction).
Application Insights:
The machinery industry accounted for the largest share in 2015 and is projected to witness significant growth over the forecast period. Increasing demand for metal cutting tools from various sectors including construction, automotive, aerospace & defense is expected to drive the market growth over the coming years.
The global automotive industry has witnessed tremendous growth in recent times owing to increasing consumer disposable income coupled with rising living standards. This factor has led to an increased demand for vehicles across developing countries such as China and India which are anticipated to propel product demand globally. The rise in air travel has also resulted in increased aviation maintenance activities which will further augment product penetration during the forecast period.
Regional Analysis:
Asia Pacific dominated the global metal cutting tools market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for metal cutting tools from various application industries in countries such as China, India, Japan and South Korea. In addition, rising investments by foreign players in this region are anticipated to propel industry expansion over the next eight years.
The Asia Pacific was followed by Europe which accounted for a share of more than 20% of total revenue generated worldwide in 2017. The European market is characterized by high product penetration rates resulting from increased adoption across several machinery and automotive applications on account of technological advancements coupled with stringent government regulations regarding energy conservation practices being adopted across member states including Germany, France Italy and U.K., among others).
Growth Factors:
- Increasing demand for metal cutting tools from the automotive and aerospace industries due to the growth of these sectors.
- Rising demand for miniaturized and precision metal cutting tools in the medical device and electronics industries.
- Growing popularity of high-speed machining techniques that require specialized metal cutting tools.
- Increased use of composite materials in manufacturing, which has led to a rise in demand for metal cutting tools that can efficiently cut through these materials.
- Technological advancements that have led to the development of new and more efficient metal cutting tool designs
Scope Of The Report
Report Attributes
Report Details
Report Title
Metal Cutting Tools Market Research Report
By Type
Cemented carbide, High speed steel, Ceramics, Diamond, Milling, Turning, Drilling, Grinding
By Application
Machinery Industry, Automotive Industry, Aerospace Industry, Energy Industry
By Companies
Sandvik, Kennametal, Iscar, OSG, Mitsubishi, Kyocera, Sumitomo, Mapal, Nachi-Fujikoshi, LMT, ZCCCT, YG-1, Shanghai Tool, Korloy, Union Tool, Tiangong, Guhring, Harbin No.1 Tool, Tivoly, Ceratizit, Hitachi, Feidadrills, Chengdu Chengliang, BIG Kaiser, Addison, Hanjiang, EST Tools, Xiamen Golden Erge, AHNO, Sandhog
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Metal Cutting Tools Market Report Segments:
The global Metal Cutting Tools market is segmented on the basis of:
Types
Cemented carbide, High speed steel, Ceramics, Diamond, Milling, Turning, Drilling, Grinding
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
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
- OSG
- Mitsubishi
- Kyocera
- Sumitomo
- Mapal
- Nachi-Fujikoshi
- LMT
- ZCCCT
- YG-1
- Shanghai Tool
- Korloy
- Union Tool
- Tiangong
- Guhring
- Harbin No.1 Tool
- Tivoly
- Ceratizit
- Hitachi
- Feidadrills
- Chengdu Chengliang
- BIG Kaiser
- Addison
- Hanjiang
- EST Tools
- Xiamen Golden Erge
- AHNO
- Sandhog
Highlights of The Metal Cutting Tools 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:
- Cemented carbide
- High speed steel
- Ceramics
- Diamond
- Milling
- Turning
- Drilling
- Grinding
- By Application:
- Machinery Industry
- Automotive Industry
- Aerospace Industry
- Energy Industry
- 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 Metal Cutting Tools 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.
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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?
Metal cutting tools are used to cut metal. They can be handheld or machine-operated.
Some of the major players in the metal cutting tools market are Sandvik, Kennametal, Iscar, OSG, Mitsubishi, Kyocera, Sumitomo, Mapal, Nachi-Fujikoshi, LMT, ZCCCT, YG-1, Shanghai Tool, Korloy, Union Tool, Tiangong, Guhring, Harbin No.1 Tool, Tivoly, Ceratizit, Hitachi, Feidadrills, Chengdu Chengliang, BIG Kaiser, Addison, Hanjiang, EST Tools, Xiamen Golden Erge, AHNO, Sandhog.
The metal cutting tools market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Metal Cutting Tools Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Metal Cutting Tools Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Metal Cutting Tools Market - Supply Chain
4.5. Global Metal Cutting Tools Market Forecast
4.5.1. Metal Cutting Tools Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Metal Cutting Tools Market Size (000 Units) and Y-o-Y Growth
4.5.3. Metal Cutting Tools Market Absolute $ Opportunity
5. Global Metal Cutting Tools Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Metal Cutting Tools Market Size and Volume Forecast by Type
5.3.1. Cemented carbide
5.3.2. High speed steel
5.3.3. Ceramics
5.3.4. Diamond
5.3.5. Milling
5.3.6. Turning
5.3.7. Drilling
5.3.8. Grinding
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Metal Cutting Tools Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Metal Cutting Tools Market Size and Volume Forecast by Application
6.3.1. Machinery Industry
6.3.2. Automotive Industry
6.3.3. Aerospace Industry
6.3.4. Energy Industry
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Metal Cutting Tools Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Metal Cutting Tools Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Metal Cutting Tools Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Metal Cutting Tools Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Metal Cutting Tools Demand Share Forecast, 2019-2026
9. North America Metal Cutting Tools Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Metal Cutting Tools Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Metal Cutting Tools Market Size and Volume Forecast by Application
9.4.1. Machinery Industry
9.4.2. Automotive Industry
9.4.3. Aerospace Industry
9.4.4. Energy Industry
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Metal Cutting Tools Market Size and Volume Forecast by Type
9.7.1. Cemented carbide
9.7.2. High speed steel
9.7.3. Ceramics
9.7.4. Diamond
9.7.5. Milling
9.7.6. Turning
9.7.7. Drilling
9.7.8. Grinding
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Metal Cutting Tools Demand Share Forecast, 2019-2026
10. Latin America Metal Cutting Tools Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Metal Cutting Tools Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Metal Cutting Tools Market Size and Volume Forecast by Application
10.4.1. Machinery Industry
10.4.2. Automotive Industry
10.4.3. Aerospace Industry
10.4.4. Energy Industry
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Metal Cutting Tools Market Size and Volume Forecast by Type
10.7.1. Cemented carbide
10.7.2. High speed steel
10.7.3. Ceramics
10.7.4. Diamond
10.7.5. Milling
10.7.6. Turning
10.7.7. Drilling
10.7.8. Grinding
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Metal Cutting Tools Demand Share Forecast, 2019-2026
11. Europe Metal Cutting Tools Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Metal Cutting Tools Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Metal Cutting Tools Market Size and Volume Forecast by Application
11.4.1. Machinery Industry
11.4.2. Automotive Industry
11.4.3. Aerospace Industry
11.4.4. Energy Industry
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Metal Cutting Tools Market Size and Volume Forecast by Type
11.7.1. Cemented carbide
11.7.2. High speed steel
11.7.3. Ceramics
11..4. Diamond
11.7.5. Milling
11.7.6. Turning
11.7.7. Drilling
11.7.8. Grinding
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Metal Cutting Tools Demand Share, 2019-2026
12. Asia Pacific Metal Cutting Tools Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Metal Cutting Tools Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Metal Cutting Tools Market Size and Volume Forecast by Application
12.4.1. Machinery Industry
12.4.2. Automotive Industry
12.4.3. Aerospace Industry
12.4.4. Energy Industry
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Metal Cutting Tools Market Size and Volume Forecast by Type
12.7.1. Cemented carbide
12.7.2. High speed steel
12.7.3. Ceramics
12.7.4. Diamond
12.7.5. Milling
12.7.6. Turning
12.7.7. Drilling
12.7.8. Grinding
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Metal Cutting Tools Demand Share, 2019-2026
13. Middle East & Africa Metal Cutting Tools Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Metal Cutting Tools Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Metal Cutting Tools Market Size and Volume Forecast by Application
13.4.1. Machinery Industry
13.4.2. Automotive Industry
13.4.3. Aerospace Industry
13.4.4. Energy Industry
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Metal Cutting Tools Market Size and Volume Forecast by Type
13.7.1. Cemented carbide
13.7.2. High speed steel
13.7.3. Ceramics
13.7.4. Diamond
13.7.5. Milling
13.7.6. Turning
13.7.7. Drilling
13.7.8. Grinding
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Metal Cutting Tools Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Metal Cutting Tools Market: Market Share Analysis
14.2. Metal Cutting Tools Distributors and Customers
14.3. Metal Cutting Tools Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sandvik
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Kennametal
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Iscar
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. OSG
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mitsubishi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Kyocera
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Sumitomo
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Mapal
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Nachi-Fujikoshi
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. LMT
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. ZCCCT
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. YG-1
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Shanghai Tool
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Korloy
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Union Tool
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Tiangong
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Guhring
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Harbin No.1 Tool
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Tivoly
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Ceratizit
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
