Global Stationary Tool Inserts Market 2017-2021

Overview of the global stationary tool inserts market

Technavio’s market research analyst predicts the global stationary tool inserts market to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the constantly increasing need to develop superior-quality products. Manufacturers across the world are focusing on adopting state-of-the-art tools to minimize the production time without compromising on the quality of the product. Also, customers are now insisting on coordinating measuring machine reports to verify the quality of products as well as their adherence to specifications. Consequently, HSS metal cutting tools are widely adopted by several companies across various industries to develop products with increased precision. The increasing customer demand for high-quality products has made HSS metal cutting tools indispensable in organizations. The effective deployment of HSS metal cutting tools enables the development of products with increased dimensional accuracy. This growing inclination toward the use of superior quality metal cutting tools is expected to propel growth in the global stationary tool inserts market during the forecast period.

One of the latest trends gaining traction in this market is the rapid adoption of 3D printing, also known as additive manufacturing. 3D printing is a process of creating three-dimensional objects using a digital file. This process usually involves building the product in thin layers, one by one. 3D printing enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques. The additive nature of 3D printing, unlike traditional printing technologies, optimizes the use of material and therefore minimizes wastage. This results in significant reduction of capital costs, raw material costs, and costs to reclaim scrap. This rising popularity of additive manufacturing is expected to augment growth in the global stationary tool inserts market in the coming years.

Competitive landscape and key vendors

The global stationary tool inserts market is highly fragmented due to the presence of several international and regional vendors across the globe. To penetrate deeper into the market, several regional and local vendors have started manufacturing customized, energy-efficient equipment that is available at a lower price than their international counterparts. At present, the cutting tools vendors are adapting to the changing market dynamics in terms of required cost-effectiveness. The need to decrease the cost for smaller lot sizes without compromising on the quality of products has compelled vendors in the carbide cutting tools to adopt automation and other advanced technologies.

Leading vendors in the market are –

• Ingersoll Cutting Tool Company
• ISCAR
• Kennametal Foundation
• Northern American Carbide
• Sandvik

Other prominent vendors in the stationary tool inserts market include KOMET, TYROLIT, SECO, and LOVEJOY Tool Company.

Segmentation by product and analysis of the stationary tool inserts market

• Carbide
• CBN
• Ceramic

During 2016, the carbide inserts dominated the stationary tool inserts market and accounted for a major part of the overall market share. Factors such as better surface finish and faster machining, ability to withstand high temperatures, and the capability to cut tough materials such as carbon steel and stainless steel are the key factors responsible for the dominance of this segment in the global carbide cutting tools market.

Geographical segmentation and analysis of the stationary tool inserts market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated APAC to dominate the carbide cutting tools market during the forecast period. The exponential growth of the automotive industry in countries like India, Indonesia, Thailand, and Vietnam is the primary reason for the growth of the stationary tool inserts market in the region.   

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global stationary tool inserts market?
• What are the key market trends impacting the growth of the global stationary tool inserts market?
• What are the challenges to market growth?
• Who are the key vendors in the global stationary tool inserts market?
• What are the market opportunities and threats faced by the vendors in the global stationary tool inserts market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global stationary tool inserts market?

Technavio also offers customization on reports based on specific client requirement.