Cutting Tool Inserts Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46523
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The cutting tool inserts market size has the potential to grow by USD 1.84 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.22%. 

This report provides a detailed analysis of the market by type (carbide tool inserts, CBN inserts, ceramic inserts, and others), application (milling tool inserts, drilling tool inserts, rotary tool inserts, turning tool inserts, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

Cutting-Tool-Inserts-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Asahi Diamond Industrial Co. Ltd.
  • CERATIZIT SA
  • Compagnie de Saint-Gobain SA
  • ILJIN Diamond Co. Ltd.
  • Kennametal Inc.
  • Kyocera Corp.
  • Mitsubishi Materials Corp.
  • NACHI-FUJIKOSHI Corp.
  • Sandvik AB
  • Sumitomo Corp.

 

The cutting tool inserts market is fragmented and the vendors are deploying growth strategies such as adopting automation and other advanced technologies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as growth in demand for fabricated parts to achieve growth opportunities. However, factors such as the rise in popularity of electrical discharge and electrochemical machining will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the cutting tool inserts market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This cutting tool inserts market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Cutting Tool Inserts Market: Key Drivers and Trends

  • The increasing focus on the development of better quality products is one of the primary drivers for the cutting tool inserts market growth.
  • Manufacturers across the globe are concentrating on implementing advanced tools to lower production time without compromising on the quality of the product. Also, on-time delivery is fast becoming the key priority across industries.
  • The use of accurate cutting tools for machining components is the major factor that determines the quality of the products manufactured. This, in turn, has resulted in the increased adoption of high-speed steel (HSS) metal cutting tools that are superior in quality. 
  • HSS metal cutting tools are extensively used by numerous companies across different industries to develop products with high precision.
  • The rising preference toward the use of better quality HSS metal cutting tools will accelerate the growth of the cutting tool inserts market.
  • The growth in demand for fabricated parts will fuel the growth of the cutting tool inserts market size. 
  • A cutting tool insert is an essential component of a cutting machine and is used for cutting the desired shape out of a metal part.
  • Cutting machines are majorly used in the metalworking industry to manufacture fabricated metal products.
  • The demand for fabricated metal products completely depends on the demand from allied industries such as automotive, construction, heavy machinery, and transportation machinery.
  • The fabricated metals are used in automobiles, stamped metal products, small arms, utensils, building products, fasteners, construction products, and heavy equipment.
  • The increasing demand for fabricated metal products has acted as a positive catalyst for the growth of the cutting tool inserts market, as the fabricated metals are machined using cutting machines with cutting tool inserts.

 

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Cutting Tool Inserts Market: Segmentation by Geography

Cutting-Tool-Inserts-Market-Market-Share-by-Region-2020-2025

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55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for cutting tool inserts in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increasing number of construction activities in emerging countries will facilitate the cutting tool inserts market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Cutting Tool Inserts Market: Segmentation by Type

Cutting-Tool-Inserts-Market-Market-Share-by-Type-2020-2025

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Carbide is a hard material that is widely used in cutting tools for machining and finds applications in many end-user industries. Carbide tools can provide a better surface finish and faster machining and can withstand high temperatures. It can also be used for cutting tough materials such as carbon steel and stainless steel.

This report provides an accurate prediction of the contribution of all the segments to the growth of the cutting tool inserts market size. Fetch actionable market insights on post COVID-19 impact on each segment.   

 

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Cutting Tool Inserts Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive cutting tool inserts market growth during the next five years
  • Precise estimation of the cutting tool inserts market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cutting tool inserts industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cutting tool inserts market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Milling tool inserts - Market size and forecast 2020-2025
    • Drilling tool inserts - Market size and forecast 2020-2025
    • Rotary tool inserts - Market size and forecast 2020-2025
    • Turning tool inserts - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Carbide tool inserts - Market size and forecast 2020-2025
    • CBN inserts - Market size and forecast 2020-2025
    • Ceramic inserts - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Competitive scenario
      • Vendor landscape
      • Landscape disruption
      • Industry risks

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Asahi Diamond Industrial Co. Ltd.
      • CERATIZIT SA
      • Compagnie de Saint-Gobain SA
      • ILJIN Diamond Co. Ltd.
      • Kennametal Inc.
      • Kyocera Corp.
      • Mitsubishi Materials Corp.
      • NACHI-FUJIKOSHI Corp.
      • Sandvik AB
      • Sumitomo Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The cutting tool inserts market growth will increase by $1839.17 million during 2020-2025.
      The cutting tool inserts market is expected to grow at a CAGR of 6.22% during 2020-2025.
      Technavio has segmented the cutting tool inserts market by type (Carbide tool inserts, CBN inserts, Ceramic inserts, and Others) ,application (Milling tool inserts, Drilling tool inserts, Rotary tool inserts, Turning tool inserts, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
      Asahi Diamond Industrial Co. Ltd., CERATIZIT SA, Compagnie de Saint-Gobain SA, ILJIN Diamond Co. Ltd., Kennametal Inc., Kyocera Corp., Mitsubishi Materials Corp., NACHI-FUJIKOSHI Corp., Sandvik AB, Sumitomo Corp. are a few of the key vendors in the cutting tool inserts market.
      APAC will register the highest growth rate of 55.26% among the other regions. Therefore, the cutting tool inserts market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the cutting tool inserts market growth are:
      • Growth in demand for fabricated parts
      The cutting tool inserts market vendors should focus on grabbing business opportunities from the carbide tool inserts segment as it accounted for the largest market share in the base year.
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