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Carbide Cutting Tools Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: July, 2022
No of Pages: 153
Delivery Format: PDF + Excel

$2,950.00

The global carbide tools market size was valued at $11,300.0 million in 2020, and is projected to reach $18,375.5 million by 2030, registering a CAGR of 4.9% from 2021 to 2030. Carbide is a key component (chemical compound in nature) that is frequently paired with other natural elements such as boron, silicon, metal, or steel. Carbide-based tool holders and machine tools offer a high level of durability, allowing them to last longer while maintaining their cutting tool edges. These tools are widely used in machining applications, owing to their unique characteristics, such as fast speed, cutting edge retention at high machining temperatures, reduced cycle time, superior wear resistance and long working life.

The COVID 19 outbreak has affected the growth of the carbide tools industry owing to the lockdown measure in the countries and delay in manufacturing and production of carbide tools which are utilized in automotive, construction, mining, and other industries.

There are two types of cutting tools that make cut in the machining industry: carbide-based cutting tools and high-speed tooling (HSS) cutting tools. Carbide tools appear to have greatly influenced the industry as the most popular of the two in recent years. Machine tools are used to shape or machine metal or other stiff materials into a certain shape via boring, shearing, grinding, cutting, or other methods. As the need for carbide tools increases, providers are working hard to keep up with the demand by introducing more innovative and high-performance carbide tools. For instance, in June 2021, Ingersoll Cutting Tools, a member of IMC Group, improved its indexable deep hole drilling head by expanding diameter range and providing new wear-resistant grade for more endurance. Moreover, the drilling tool is equipped with new chip breakers, which increases tool life.

The novel coronavirus has rapidly spread across various countries and regions, causing enormous impact on lives of people and overall community. Originating as a crisis to human health, it now poses significant threat to worldwide trade, economy, and finance. Due to continuous lockdowns in key global countries, the COVID-19 pandemic has halted production of many items in the carbide tools business. Market players can afford a complete lockdown only for a limited period, after which they would have to alter their investment plans. Furthermore, number of COVID-19 cases are expected to reduce in the near term as vaccine for COVID-19 has been introduced in the market. This is further expected to lead to re-initiation of carbide tool companies at their full-scale capacities, which would aid the market to recover by the start of 2022.

After COVID-19 infection instances start to decline, equipment and machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.

In addition, carbide tools provide a lot of important benefits, including reduced material waste, lower labor costs, higher quality, and lower inventory costs. Furthermore, manufacturers are putting a lot of emphasis on ideal cutting geometries and high-performance coverings, which is attracting customers and in turn, fuels the market growth. However, factors such as high cost of carbide tools hamper growth of the market.

Milling segment is projected to grow at a significant CAGR

Mergers and acquisitions of regional players by major global players represent a significant commercial potential for the carbide tools industry. Such business methods not only aid in capturing new physical places, but also in creation of new business prospects in emerging markets. For instance, in February 2020, Mitsubishi Material Corporation (MCC) acquired Mantoverde Copper Mine from Mantos Copper Holding SpA. The company produces high quality copper concentrated with very low level of impurities and deleterious materials. This acquisition helped MCC to secure copper concentrated for its copper smelters.

Some of the most important companies specializing in carbide tools are based in North America and Europe. Some of the well-known brands in the carbide tools industry in the U.S. are Super Tool Inc., Kenn metal, Gartool, Allied Machine and Engineering Corporation, and Solid Carbide Tools. Hence, these regions are expected to have high manufacturing and production of carbide tools in the coming years. Furthermore, Asia-Pacific is expected to provide lucrative market prospects. Expansion of the carbide tools market is expected to be aided by rise in number of growing economies in the region.

Automotive segment holds dominant position in 2021

The carbide tools market is segmented on the basis of product type, configuration, coating, end-user industry, and region. By product type, the market is divided into drilling tools, milling tools, turning tools, and others. By configuration, it is divided into hand-based and machine-based. By coating, it is divided into coated and noncoated. By end-user industry, it is divided into automotive, electronics & electrical, aerospace marine & defense, plastics, construction & mining, and others. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Thailand, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Competition Analysis

Key companies profiled in the carbide tools market report include Ingersoll Cutting Tool Company, SGS Tool Company, Advent Tool & Manufacturing, Inc., Garr Tool Company, Mitsubishi Materials Corporation, Best Carbide Cutting Tools, Inc., CERATIZIT S.A., PROMAX Tools, Rock River Tool, Inc., and VHF Camfacture AG.

Europe holds a dominant position in 2020 and Asia-Pacific is expected to grow at a significant rate during the forecast period.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging carbide tools market trends and dynamics.
  • In-depth emerging carbide tools market analysis is conducted by constructing market estimations for key market segments between 2020 and 2030.
  • Extensive analysis of the emerging carbide tools market is conducted by following key product positioning and monitoring of top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global emerging carbide tools market forecast analysis from 2021 to 2030 is included in the report.
  • The key players within emerging carbide tools market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the emerging carbide tools industry.

Carbide Cutting Tools Market Report Scope and Segmentation

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Global Carbide Tools Market Segments

Key Segments

By Product Type

  • Drilling tools
  • Milling tools
  • Turning tools
  • Others

By Configuration

  • Hand-Based
  • Machine-Based

By Coating 

  • Coated
  • Noncoated

By End User Industry

  • Automotive
  • Electronics & Electrical
  • Aerospace, Marine & Defense
  • Plastics
  • Construction & Mining
  • Others

By Region

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • Italy
      • France
      • UK
      • Spain
      • Poland
      • Russia
      • The Netherlands
      • Norway
      • Czech Republic
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Malaysia
      • Thailand
      • Singapore
      • Australia & New Zealand
      • Rest of Asia Pacific
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Rest of South America
    • The Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Northern Africa
      • Rest of MEA

Key Players

  • Ingersoll Cutting Tool Company
  • SGS Tool Company
  • Advent Tool & Manufacturing, Inc.
  • Garr Tool Company
  • Mitsubishi Materials Corporation
  • Best Carbide Cutting Tools, Inc.
  • CERATIZIT S.A.
  • PROMAX Tools
  • Rock River Tool, Inc.,
  • vHF Camfacture AG

Table of content

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Market player positioning, 2020
3.4.Porter’s five forces analysis
3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Increase in consumption of consumer electronics and electrical devices
3.5.1.2.Growth in focus on product customizations for the automotive products
3.5.1.3.Growth of the renewable energy industry

3.5.2.Restraint

3.5.2.1.Fluctuations in foreign currencies influence profit margins
3.5.2.2.U.S. and China trade war

3.5.3.Opportunities

3.5.3.1.New advancements such as penetration of automation and IoT

3.6.COVID-19 Impact Analysis

CHAPTER 4:CARBIDE TOOLS MARKET, BY PRODUCT TYPE

4.1.Overview

4.1.1.Market size and forecast, by product type

4.2.Drilling tools

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market size and forecast, by drilling tools

4.2.3.1.Flat drills
4.2.3.2.Twist drills
4.2.3.3.Gun drills
4.2.3.4.Burnishing drills
4.2.3.5.Others

4.2.4.Market size and forecast, by country

4.3.Milling tools

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market size and forecast, by milling tools

4.3.3.1.End mills
4.3.3.2.Face mills

4.3.4.Market size and forecast, by country

4.4.Turning Tools

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market size and forecast, by country

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market size and forecast, by country

CHAPTER 5:CARBIDE TOOLS MARKET, BY CONFIGURATION

5.1.Overview

5.1.1.Market size and forecast, by configuration

5.2.Hand-Based

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market size and forecast, by country

5.3.Machine-Based

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market size and forecast, by country

CHAPTER 6:CARBIDE TOOLS MARKET, BY COATING

6.1.Overview

6.1.1.Market size and forecast, by coating

6.2.Coated

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market size and forecast, by country

6.3.Uncoated

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market size and forecast, by country

CHAPTER 7:CARBIDE TOOLS MARKET, BY END USER INDUSTRY

7.1.Overview

7.1.1.Market size and forecast, by end user industry

7.2.Automotive

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region
7.2.3.Market size and forecast, by country

7.3.Electronics and Electrical

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.3.3.Market size and forecast, by country

7.4.Aerospace, Marine, and Defense

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.4.3.Market size and forecast, by country

7.5.Plastics

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region
7.5.3.Market size and forecast, by country

7.6.Construction and Mining

7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast, by region
7.6.3.Market size and forecast, by country

7.7.Others

7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast, by region
7.7.3.Market size and forecast, by country

CHAPTER 8:CARBIDE TOOLS MARKET, BY REGION

8.1.Market overview

8.1.1.Market size and forecast, by region

8.2.North America

8.2.1.Key market trends, growth factors, and opportunities
8.2.2.North America market size and forecast, by product type

8.2.2.1.Market size and forecast, by drilling tools
8.2.2.2.Market size and forecast, by milling tools

8.2.3.North America market size and forecast, by configuration
8.2.4.North America market size and forecast, by coating
8.2.5.North America market size and forecast, by end user industry
8.2.6.North America market size and forecast, by country

8.2.6.1.U.S.

8.2.6.1.1.U.S. market size and forecast, by product type
8.2.6.1.2.U.S. market size and forecast, by configuration
8.2.6.1.3.U.S. market size and forecast, by coating
8.2.6.1.4.U.S. market size and forecast, by end user industry

8.2.6.2.Canada

8.2.6.2.1.Canada market size and forecast, by product type
8.2.6.2.2.Canada market size and forecast, by configuration
8.2.6.2.3.Canada market size and forecast, by coating
8.2.6.2.4.Canada market size and forecast, by end user industry

8.2.6.3.Mexico

8.2.6.3.1.Mexico market size and forecast, by product type
8.2.6.3.2.Mexico market size and forecast, by configuration
8.2.6.3.3.Mexico market size and forecast, by coating
8.2.6.3.4.Mexico market size and forecast, by end user industry

8.3.Europe

8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Europe market size and forecast, by product type
8.3.2.1.Market size and forecast, by drilling tools
8.3.2.2.Market size and forecast, by milling tools
8.3.3.Europe market size and forecast, by configuration
8.3.4.Europe market size and forecast, by coating
8.3.5.Europe market size and forecast, by end user industry
8.3.6.Europe market size and forecast, by country

8.3.6.1.Germany

8.3.6.1.1.Germany market size and forecast, by product type
8.3.6.1.2.Germany market size and forecast, by configuration
8.3.6.1.3.Germany market size and forecast, by coating
8.3.6.1.4.Germany market size and forecast, by end user industry

8.3.6.2.France

8.3.6.2.1.France market size and forecast, by product type
8.3.6.2.2.France market size and forecast, by configuration
8.3.6.2.3.France market size and forecast, by coating
8.3.6.2.4.France market size and forecast, by end user industry

8.3.6.3.UK

8.3.6.3.1.UK market size and forecast, by product type
8.3.6.3.2.UK market size and forecast, by configuration
8.3.6.3.3.UK market size and forecast, by coating
8.3.6.3.4.UK market size and forecast, by end user industry

8.3.6.4.Italy

8.3.6.4.1.Italy market size and forecast, by product type
8.3.6.4.2.Italy market size and forecast, by configuration
8.3.6.4.3.Italy market size and forecast, by coating
8.3.6.4.4.Italy market size and forecast, by end user industry

8.3.6.5.Rest of Europe

8.3.6.5.1.Rest of Europe market size and forecast, by product type
8.3.6.5.2.Rest of Europe market size and forecast, by configuration
8.3.6.5.3.Rest of Europe market size and forecast, by coating
8.3.6.5.4.Rest of Europe market size and forecast, by end user industry

8.4.Asia-Pacific

8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Asia-Pacific market size and forecast, by product type

8.4.2.1.Market size and forecast, by drilling tools
8.4.2.2.Market size and forecast, by milling tools

8.4.3.Asia-Pacific market size and forecast, by configuration
8.4.4.Asia-Pacific market size and forecast, by coating
8.4.5.Asia-Pacific market size and forecast, by end user industry
8.4.6.Asia-Pacific market size and forecast, by country

8.4.6.1.China

8.4.6.1.1.China market size and forecast, by product type
8.4.6.1.2.China market size and forecast, by configuration
8.4.6.1.3.China market size and forecast, by coating
8.4.6.1.4.China market size and forecast, by end user industry

8.4.6.2.India

8.4.6.2.1.India market size and forecast, by product type
8.4.6.2.2.India market size and forecast, by configuration
8.4.6.2.3.India market size and forecast, by coating
8.4.6.2.4.India market size and forecast, by end user industry

8.4.6.3.Japan

8.4.6.3.1.Japan market size and forecast, by product type
8.4.6.3.2.Japan market size and forecast, by configuration
8.4.6.3.3.Japan market size and forecast, by coating
8.4.6.3.4.Japan market size and forecast, by end user industry

8.4.6.4.Thailand

8.4.6.4.1.Thailand market size and forecast, by product type
8.4.6.4.2.Thailand market size and forecast, by configuration
8.4.6.4.3.Thailand market size and forecast, by coating
8.4.6.4.4.Thailand market size and forecast, by end user industry

8.4.6.5.Rest of Asia-Pacific

8.4.6.5.1.Rest of Asia-Pacific market size and forecast, by product type
8.4.6.5.2.Rest of Asia-Pacific market size and forecast, by configuration
8.4.6.5.3.Rest of Asia-Pacific market size and forecast, by coating
8.4.6.5.4.Rest of Asia-Pacific market size and forecast, by end user industry

8.5.LAMEA

8.5.1.Key market trends, growth factors, and opportunities
8.5.2.LAMEA market size and forecast, by product type

8.5.2.1.Market size and forecast, by drilling tools
8.5.2.2.Market size and forecast, by milling tools

8.5.3.LAMEA market size and forecast, by configuration
8.5.4.LAMEA market size and forecast, by coating
8.5.5.LAMEA market size and forecast, by end user industry
8.5.6.LAMEA market size and forecast, by country

8.5.6.1.Latin America

8.5.6.1.1.Latin America market size and forecast, by product type
8.5.6.1.2.Latin America market size and forecast, by configuration
8.5.6.1.3.Latin America market size and forecast, by coating
8.5.6.1.4.Latin America market size and forecast, by end user industry

8.5.6.2.Middle East

8.5.6.2.1.Middle East market size and forecast, by product type
8.5.6.2.2.Middle East market size and forecast, by configuration
8.5.6.2.3.Middle East market size and forecast, by coating
8.5.6.2.4.Middle East market size and forecast, by end user industry

8.5.6.3.Africa

8.5.6.3.1.Africa market size and forecast, by product type
8.5.6.3.2.Africa market size and forecast, by configuration
8.5.6.3.3.Africa market size and forecast, by coating
8.5.6.3.4.Africa market size and forecast, by end user industry

CHAPTER 9:COMPANY PROFILES

9.1.Advent Tool & Manufacturing, Inc.

9.1.1.Company overview
9.1.2.Key executive
9.1.3.Company snapshot
9.1.4.Operating business segments
9.1.5.Product portfolio

9.2.Best Carbide Cutting Tools, Inc.

9.2.1.Company overview
9.2.2.Key executive
9.2.3.Company snapshot
9.2.4.Operating business segments
9.2.5.Product portfolio

9.3.CERATIZIT S.A.

9.3.1.Company overview
9.3.2.Key executive
9.3.3.Company snapshot
9.3.4.Operating business segments
9.3.5.Product portfolio
9.3.6.Key strategic moves and developments

9.4.CERATIZIT Sacramento LP

9.4.1.Company overview
9.4.2.Key executive
9.4.3.Company snapshot
9.4.4.Operating business segments
9.4.5.Product portfolio

9.5.Garr Tools

9.5.1.Company overview
9.5.2.Key executive
9.5.3.Company snapshot
9.5.4.Operating business segments
9.5.5.Product portfolio
9.5.6.Key strategic moves and developments

9.6.Ingersoll Cutting Tool Company

9.6.1.Company overview
9.6.2.Key executive
9.6.3.Company snapshot
9.6.4.Operating business segments
9.6.5.Product portfolio
9.6.6.Key strategic moves and developments

9.7.KYOCERA SGS Precision Tools

9.7.1.Company overview
9.7.2.Key Executive
9.7.3.Company snapshot
9.7.4.Operating business segments
9.7.5 Product portfolio
9.7.6. Key strategic moves and developments

9.8.Mitsubishi Materials Corporation

9.8.1.Company overview
9.8.2.Key executive
9.8.3.Company snapshot
9.8.4.Operating business segments
9.8.5.Product portfolio
9.8.6.Research and development expenses
9.8.7.Business performance
9.8.8.Key strategic moves and developments

9.9.Rock River Tool, Inc.

9.9.1.Company overview
9.9.2.Key executive
9.9.3.Company snapshot
9.9.4.Operating business segments
9.9.5.Product portfolio

9.10.vhf camfacture AG

9.10.1.Company overview
9.10.2.Key executive
9.10.3.Company snapshot
9.10.4.Operating business segments
9.10.5.Product portfolio
9.10.6.Key strategic moves and developments

Segmentation

By Product Type

  • Drilling tools
  • Milling tools
  • Turning tools
  • Others

By Configuration

  • Hand-Based
  • Machine-Based

By Coating 

  • Coated
  • Noncoated

By End User Industry

  • Automotive
  • Electronics & Electrical
  • Aerospace, Marine & Defense
  • Plastics
  • Construction & Mining
  • Others

Companies

  • Ingersoll Cutting Tool Company
  • SGS Tool Company
  • Advent Tool & Manufacturing, Inc.
  • Garr Tool Company
  • Mitsubishi Materials Corporation
  • Best Carbide Cutting Tools, Inc.
  • CERATIZIT S.A.
  • PROMAX Tools
  • Rock River Tool, Inc.,
  • vHF Camfacture AG
  • Others

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