This global industry report provides a detailed breakdown of the technology and the market dynamics driving the global cutting tools industry. Quantitative and qualitative analyses are presented for the years 2021 through 2027, and the report has been completely revised and updated to present up-to-date trends and forecasts covering the next five years.
Global markets are broken down by consumption ($mm) by country, end-user industry, tool type, application, workpiece material, grade, distribution channels, and competitor.
Scope of Coverage
Research Objectives
- The primary objectives in this analysis are:
- To provide clients with the tools they need to accurately assess their market opportunities and potential;
- To determine the size of the total market opportunity by cutting tool product types, end-user industry, workpiece materials, and grade by country;
- To forecast future growth in each product by geographic and end-use market; and
- To assess the competitive environment within the market including supplier sales, market share, and producer profiles.
Methodology & Sources
The publisher employs all current market and competitive intelligence techniques in order to ensure comprehensive research and analysis. The research methodology applies generally to all database services, published and custom research. It can also be modified to suit a project and the client’s specific objectives.
Steps in the research methodology include:
- Identification of Report/Client Objectives
- Research program Development
- Secondary Data Collection
- Primary Data Collection/Interviews
- Quantitative & Qualitative Analysis
- Data Tabular Presentation, Visualization & Design
Product Types and Subtypes Covered
- Milling Tools
- End/Face Mills
- Slot/Slit Mills
- Plunge Mills
- Contour Mills
- Profiling
- Threading
- Micromachining
- Helical
- Other/Specialty
- Turning Tools
- ISO Turning
- Parting/Grooving
- Threading
- Profiling
- Micromachining
- Other
- Drilling Tools
- Standard Depth Drilling
- Deep Hole Drilling
- Threading
- Micromachining
- Interchangeable Tip
- Other
- Other Cutting Tools
- Dies
- Taps
- Burrs
- Reamers
- Other/Specialty
Tool Form
- Indexable Inserts
- Solid Cutting Tools
Cutting Tool Grades
- Cemented (Tungsten) Carbides
- High-Speed Steel (HSS)
- Ceramics
- Cermets
- cBN/PcBN
- Diamond
Workpiece Materials
- Cast Irons (K)
- Carbon Steels (P)
- Stainless Steels (M)
- High-Temperature/Super Alloys (S)
- Hardened Materials (H)
- Non-Ferrous Metals (N)
- Composites
- Other
Geographic Coverage
- Brazil
- China
- CIS
- France
- Germany
- India
- Italy
- Japan
- Korea (South)
- Russia
- Spain
- Switzerland
- Taiwan
- United Kingdom
- United States
- Other Asia/Pacific
- Other EU
- Other Europe
- Other Latin America
- Other NAFTA
- Rest of World
End-User Industries
- Aerospace
- Automation & Machinery
- Automotive
- Chemical Processing
- Communications
- Construction
- Consumer
- Defense/Military
- Die & Mold
- Electronics
- Energy/Power Generation (e.g., renewables, nuclear)
- Food, Beverage & Agriculture
- Home Appliances
- Infrastructure
- Job Shops
- Machining General
- Medical/Research
- Oil, Gas & Mining
- Paper & Pulp Industry
- Textile Manufacturing
- Transportation (e.g., railroads, shipbuilding)
- Other
Applications Covered
- Polishing/Lapping
- Finishing/Deburring
- Stock Removal
- Grinding
- Contouring
- Planing
- Sharpening
- Boring
- Other
Table of Contents
Section 1: Technology Overview
What is a Metal Cutting Tool?
Manufacturing of Cutting Tools
Cost Factors in Cutting tools Manufacturing
Coatings
- Coatings Processes
- CVD
- PVD
- Multilayer (superlattice) Ceramic Coatings
- Nanocomposites
- Diamond Coatings
Technological Advances in Cutting Tool Production
General Manufacturing Trends
Factory 4.0
- The Benefits of Factory 4.0
How Cutting Tools are Selected
Workpiece Materials Defined
Cutting Tool Product Types by Application
- Milling Tools
- Turning Tools
- Drilling/Holemaking Tools
- Other Cutting Tools
- Reamers
- Deburring Tools (Burrs)
- Taps/Dies
- Custom/Specialty Tools
Machining Applications
Cutting Tool by Form
- Solid Cutting Tools
- Indexable Inserts
Cutting Tool Grade
- High-Speed Steels
- Cemented Tungsten Carbides
- Ceramic Grade
- Cermets
- Superabrasives
- Diamond
- Polycrystalline (PCD) Tools
- Monocrystalline (Single-crystal) Tools
- Diamond Coated Tools
- CBN/PcBN
Machining Technologies
- Machine Tools
- Grinding/Abrasive Techniques
- Electro-Discharge Machining (EDM)
- Wire EDM
- RAM/Cavity/Sinker EDM
- Small Hole Drilling EDM
- Powder Metallurgy (PM)
- Additive Manufacturing (AM)
- Laser Machining
Definitions
Section 2: Market Overview
Global Cutting Tools Market Overview
- Total Demand by Country for Cutting Tools ($MM): 2021-2027
- Trends & Forecasts in Cutting Tool Consumption
- Factors Affecting Cutting Tool Demand
- Global Industry Trends
- World Machining Industry by Product Type ($MM): 2021-2027
- Machine Tools Industry Overview
- Global Demand ($MM) for Machine Tools by Region and Type: 2021-2027
- Trends & Forecasts
World Market for Cutting Tools by Region
- Regional Market Factors
- Asia/Pacific
- Europe
- North America
- South America
Supply Chain Factors
Global Policies on Industrial Production
- European Union/Europe
- Asia/Pacific
- North America
- South America
Market by End-User Consumption
- Key Market Trends
Market by Product Type
- Key Market Trends
- Indexable Inserts & Solid Tooling
- Factors Affecting Demand by Form
Market by Grade
- Factors Affecting Demand by Grade
Market by Workpiece Material
- Trends in Workpiece Material
Shipments by Distribution Channel
Getting to Market:
- Distributors
- Direct Sales
- Private Labeling
- Online
- Integrators/VARS
- Mass Merchandisers
Markups and Pricing
- Competitive Bidding
- Flat Rate
- Volume Discounting
Competitive Environment
- Supplier Trends and Market Share
- Competitive Factors
- Field of Competition
- Product Sophistication
- Competitive Technologies
- Barriers to Market Entry
Methodology
Research Methodology
All current market and competitive intelligence techniques are employed in order to ensure comprehensive research and analysis. The research methodology outlined here applies generally to all database services, published and custom research. Of course, it is regularly modified to suit a project and the client’s greater objectives.
Identification of Report & Client Objectives
Typically, a face-to-face interview with individual clients or based on industry need, this stage is intended to coordinate and develop specific goals, what the objectives are and how best to activate the anticipated research.
Research Program Development
This includes the outlining of a research program employing a multi-pronged approach, including data collection and analysis. Also, established in this phase are time-frame of report completion & delivery and matters of budget.
Preparatory Research & Program Planning
Upon initiation of any data program, an exhaustive search is conducted to locate and obtain any background information pertinent to the project.
Secondary Data Collection
Our first step is the collection and analysis of information contained within the existing databases which cover 20 years of global technological and market development. Thus we are well-positioned to examine historical trends as well as future forecasts.
Our next step is the gathering of current information through sources such as subscription-based trade magazines, newspapers, scientific journals, governement manufacturing data, patent databases, end-user industry data such as manufacturing output, and company financial data. Relevant company information includes product literature, financial history, R&D trends and end-use market strategies. We perform both a top-down and a bottom-up approach, meaning we conduct analyses of demand-based factors such as product end-use by value and volume, as well as supply-side factors such as producer sales by product.
Primary Data Collection/Interviews
This step is crucial in having a true understanding of market factors. It involves the performance of person-to-person interviews with important figures that have influence and experience in the subject market. Interview candidates typically include senior executives, marketing executives, product managers, technical operators, as well as financial personnel and policy makers active in the market.
Further, a large roster of knowledgeable contacts across many sectors has been built up. We have fostered relationships through our proprietary approach which is based on integrity, mutual respect, and confidentiality. As mentioned, this step is the foundation of good research.
Quantitative and Qualitative Analysis
Upon completion of the previous research stages, the data and information will be tabulated and analyzed according to standard market intelligence principles and methods such as Porter's Five Forces, SWOT, weighted averaging, competitive analysis, modeling practices, and forecasting.
Each step of analysis is carefully done in order to achieve the most accurate results. Sometimes it becomes necessary to revise assumptions and conclusions. In that case, we do not hesitate to go back to the research stage to clarify results. Further, we always allow for these contingencies in our program planning so as to not waste valuable time.
Data Presentation
Data presentation includes tabular and graphical representations. Any accompanying analysis is clearly written in both narrative and bullet form for ease of understanding and clarity. Final delivery is normally through digital means, such as Excel tables and PDF files, but can be done in hard copy upon request.
In the case of the online data subscription service, data is presented in tabular form, easily searchable and customizable using boolean search functions. Clients also have the ability to generate custom charts and graphs based on their search criteria and output them in convenient formats.
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