Global metal cutting tools market valued approximately $ 25 billion in 2024-2032 and is projected to grow at a CAGR of more than 8% by 2026. Anticipated growth in the market can be attributed to growing demand for additive manufacturing. Additive manufacturing is the process of creating three-dimensional objects using a digital file. 3D printing in aerospace and automotive industries enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques. As a result, replacement of traditional manufacturing techniques with 3D printing will significantly reduce the capital costs, raw material costs, and costs to reclaim scrap in the coming years.
In terms of materials, global metal cutting tools market is categorized into carbide, ceramics, CBN & PCD, and others. Among these, carbide is the dominating category and is anticipated to maintain its dominance during forecast period as well. In the term of process, milling process accounts for the largest share in global metal cutting tools market.
From the geographical perspective, global metal cutting tools market is categorized into Asia-Pacific, North America, Europe, Middle East & Africa and South America. Among these, North America
Global metal cutting market is highly fragmented with the presence of numerous players. Some of the players operating in global metal cutting market are Sandvik, ISCAR, Kennametal, OSG USA INC., Tungaloy Corporation, Hitachi Metals, Sumitomo Electric, among others.
Years considered for this report
Historical Years2016-2024-2032
Base Year2024-2032
Estimated Year2024-2032
Forecast Period2022–2026
Objective of the Study
- To analyze and forecast the market size of global metal cutting tools market
- To forecast global metal cutting tools market based on material, process, end-use and regional distribution
- To identify drivers and challenges for global metal cutting tools market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global metal cutting tools market
- To conduct pricing analysis for global metal cutting tools market
- To identify and analyze the profile of leading players operating in global metal cutting tools market
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of Metal Cutting Tools manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the suppliers which could not be identified due to the limitations of secondary research. Market insights research analyzed the product offerings, distribution channels and presence of all major metal cutting tools manufacturers across the globe.
Market insights research calculated global metal cutting tools market size
Key Target Audience
- Metal cutting tools manufacturers
- Metal cutting tools suppliers, distributors and other stakeholders
- Metal cutting tools end user industries
- Organizations, forums and alliances related to metal cutting tools market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as solution providers and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
