Carbide Cutting Tool Market with COVID-19 Impact Analysis, By Product Type (Drilling tools Milling tools Turning tools), By Configuration (Hand-Based Machine-Based), By Coating (Coated Noncoated), By End Use (Automotive Electronics & Electrical Aerospace, Marine & Defense Plastics Construction & Mining), and by Region (NA, EU, APAC, LA, MEA) Analysis, Size, Share, Trends, & Forecast from 2021-2027
Report Code: AV1088
Industry: Semiconductor and Electronics
Publiced On: 2022-01-02
Pages: 277
Format:
REPORT HIGHLIGHT
The global carbide cutting tool market was valued at USD 11,808.6 Million in 2020, growing with 5.3% CAGR during the forecast period, 2021-2027.
Natural elements such as boron, silicon, metal, and steel are most commonly combined with carbide (chemical compound). A carbide-based tool holder or machine tool offers a high level of durability, allowing it to last longer while maintaining its sharpness. A carbide cutting tool is a steel metal surface and body brazed with carbide tips. Compared to normal cutting devices, cutting devices are more wear-resistant and have a longer shelf life.
Market Dynamics
The growth of the carbide cutting tool market is mainly due to the increasing use of carbide devices in industrial applications. Another key trend of the market is the increase in automation in various end-use industries. It is predicted that the carbide cutting tool market will grow due to manufacturers' growing demand for advanced and modern machining techniques. Another driver is the availability of carbide cutting devices on e-commerce sites at competitive prices. As a result of the increased use of e-commerce platforms, manufacturers of carbide cutting devices can expand their geographical reach, which ultimately results in a positive impact on the growth.
Further, various countries and regions have been infected with the novel coronavirus, causing a huge impact on people and communities alike. The outbreak began as a health crisis but has since become a major threat to international trade, economy, and finance. The COVID-19 pandemic has caused many devices in the carbide industry to cease production due to lockdowns in key global countries. Additionally, as the vaccine for COVID-19 has been introduced in the industry, the number of cases of COVID-19 is expected to decrease in the near term. As a result, carbide tool makers are expected to re-start their production at full capacity by the start of 2022, which will facilitate the recovery of the industry.
Segmentation Analysis:
The carbide cutting tool industry is segmented based on Product Type, Configuration, deployment end-user, and region.
In terms of the product type, the global carbide cutting tool industry is divided into Drilling Tools, Turning Tools, Milling Tools, and Others. Among these, into Milling tools segment accounted for the highest market share in 2020. Growth is primarily due to increasing machining applications, this material is extensively used because of its numerous significant features such as high speed, long-lasting cutting edge, short cycle time, and superior wear resistance at the cutting edge.
Depending upon the configuration type, the global carbide cutting tool industry is segmented into handheld configuration and machine-based configuration. Among these machine-based configurations, the segment has the highest market share in 2020, this is primarily due to rising demand for managing the various end-user businesses by the leading automotive, electrical aerospace, and defense companies around the globe.
Further, in terms of end-user, the global carbide cutting tool industry is classified as Automotive, Marine & Defense Electronics & Electrical, Aerospace, Construction & Mining, and Others. Among these automotive end, the user segment has the highest market share in 2020, this is primarily due to increasing global demand for various products in automotive applications. For instance, an example of this occurred in June 2021, when Ingersoll Cutting Tools improved indexable deep hole drilling heads by extending the range of diameters and reducing wear. New chip breakers are also included in the drilling tool, which increases tool lifespan.
Competitive Landscape:
The global carbide cutting tool industry is majorly fragmented with the presence of many companies competing for grabbing market share in the industry. Key players operating in this industry include Ingersoll Cutting Tool Company, Advent Tool & Manufacturing, Inc., SGS Tool Company, Mitsubishi Materials Corporation Garr Tool Company, Best Carbide Cutting Tools, Inc., PROMAX Tools, Rock River Tool, Inc CERATIZIT S.A., and VHF Camfacture AG.
The carbide tools industry is likely to benefit significantly from mergers and acquisitions of regional players by major global players. In addition to capturing new physical places, such business methods also create new business opportunities in emerging markets. A company called Mitsubishi Material Corporation (MCC) purchased a copper mine from Mantos Copper Holding SpA in February 2020. This mine produces copper concentrate with extremely low levels of impurities and deleterious materials. A copper concentrate was acquired for MCC's copper smelters through this acquisition.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CARBIDE CUTTING TOOL MARKET 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
- Vora industries
- carbide tools Manufacturing, Inc
- Tunco Manufacturing Inc.
- Global Excel Tools Manufacturing Sdn
- PROMAX Tools
GLOBAL CARBIDE CUTTING TOOL MARKET, BY PRODUCT TYPE
- Drilling tools
- Milling tools
- Turning tools
- Others
GLOBAL CARBIDE CUTTING TOOL MARKET, BY CONFIGURATION
- Hand-Based
- Machine-Based
GLOBAL CARBIDE CUTTING TOOL MARKET, BY COATING
- Coated
- Noncoated
GLOBAL CARBIDE CUTTING TOOL MARKET, BY END-USER
- Automotive
- Electronics & Electrical
- Aerospace, Marine & Defense
- Plastics
- Construction & Mining
- Others
GLOBAL CARBIDE CUTTING TOOL MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
1. Carbide Cutting Tools Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Market Snippet by Product Type
2.1.2. Market Snippet by Configuration
2.1.3. Market Snippet by Coating
2.1.4. Market Snippet by End User
2.1.5. Market Snippet by Region
2.2. Competitive Insights
3. Carbide Cutting Tools Key Market Trends
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. Carbide Cutting Tools Industry Study
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Carbide Cutting Tools Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Carbide Cutting Tools Market Landscape
6.1. Market Share Analysis, 2020
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. Carbide Cutting Tools Market – By Product Type
7.1. Overview
7.1.1. Segment Share Analysis, By Product Type, 2020 & 2027 (%)
7.2. Drilling tools
7.3. Milling tools
7.4. Turning tools
7.5. Others
8. Carbide Cutting Tools Market – By Configuration
8.1. Overview
8.1.1. Segment Share Analysis, By Configuration, 2020 & 2027 (%)
8.2. Hand-Based
8.3. Machine-Based
9. Carbide Cutting Tools Market – By Coating
9.1. Overview
9.1.1. Segment Share Analysis, By Coating, 2020 & 2027 (%)
9.2. Coated
9.3. Noncoated
10. Carbide Cutting Tools Market – By End User
10.1. Overview
10.1.1. Segment Share Analysis, By Coating, 2020 & 2027 (%)
10.2. Automotive
10.3. Electronics & Electrical
10.4. Aerospace, Marine & Defense
10.5. Plastics
10.6. Construction & Mining
10.7. Others
11. Carbide Cutting Tools Market– By Geography
11.1. Introduction
11.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
11.2. North America
11.2.1. Overview
11.2.2. Key Manufacturers in North America
11.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.2.4. North America Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.2.5. North America Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.2.6. North America Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.2.7. North America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.2.8. U.S.
11.2.8.1. Overview
11.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.2.8.3. U.S. Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.2.8.4. U.S. Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.2.8.5. U.S. Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.2.8.6. U.S. Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.2.8.7.
11.2.9. Canada
11.2.9.1. Overview
11.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
1.1.1.1. Canada Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
1.1.1.2. Canada Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
1.1.1.3. Canada Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
1.1.1.4. Canada Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3. Europe
11.3.1. Overview
11.3.2. Key Manufacturers in Europe
11.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.3.4. Europe Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.5. Europe Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.6. Europe Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.7. Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.8. Germany
11.3.8.1. Overview
11.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.8.3. Germany Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.8.4. Germany Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.8.5. Germany Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.8.6. Germany Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.9. Italy
11.3.9.1. Overview
11.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.9.3. Italy Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.9.4. Italy Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.9.5. Italy Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.9.6. Italy Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.10. United Kingdom
11.3.10.1. Overview
11.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.10.3. United Kingdom Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.10.4. United Kingdom Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.10.5. United Kingdom Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.10.6. United Kingdom Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.11. France
11.3.11.1. Overview
11.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.11.3. France Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.11.4. France Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.11.5. France Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.11.6. France Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.12. Rest of Europe
11.3.12.1. Overview
11.3.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.12.3. Rest of the Europe Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.3.12.4. Rest of the Europe Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.3.12.5. Rest of the Europe Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.3.12.6. Rest of the Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4. Asia Pacific (APAC)
11.4.1. Overview
11.4.2. Key Manufacturers in Asia Pacific
11.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.4.4. Asia Pacific Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.5. Asia Pacific Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.6. Asia Pacific Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.7. Asia Pacific Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.8. India
11.4.8.1. Overview
11.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.8.3. India Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.8.4. India Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.8.5. India Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.8.6. India Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.9. China
11.4.9.1. Overview
11.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.9.3. China Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.9.4. China Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.9.5. China Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.9.6. China Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.10. Japan
11.4.10.1. Overview
11.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.10.3. Japan Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.10.4. Japan Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.10.5. Japan Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.10.6. Japan Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.11. South Korea
11.4.11.1. Overview
11.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.11.3. South Korea Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.11.4. South Korea Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.11.5. South Korea Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.11.6. South Korea Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.12. Rest of APAC
11.4.12.1. Overview
11.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.12.3. Rest of APAC Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.4.12.4. Rest of APAC Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.4.12.5. Rest of APAC Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.4.12.6. Rest of APAC Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5. Latin America
11.5.1. Overview
11.5.2. Key Manufacturers in Latin America
11.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.5.4. Latin America Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.5.5. Latin America Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.5.6. Latin America Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.5.7. Latin America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.8. Brazil
11.5.8.1. Overview
11.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.8.3. Brazil Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.5.8.4. Brazil Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.5.8.5. Brazil Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.5.8.6. Brazil Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.9. Mexico
11.5.9.1. Overview
11.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.9.3. Mexico Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.5.9.4. Mexico Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.5.9.5. Mexico Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.5.9.6. Mexico Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.10. Argentina
11.5.10.1. Overview
11.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.10.3. Argentina Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.5.10.4. Argentina Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.5.10.5. Argentina Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.5.10.6. Argentina Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.11. Rest of LATAM
11.5.11.1. Overview
11.5.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.11.3. Rest of LATAM Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.5.11.4. Rest of LATAM Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.5.11.5. Rest of LATAM Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.11.6. Rest of LATAM Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6. Middle East and Africa
11.6.1. Overview
11.6.2. Key Manufacturers in Middle East and Africa
11.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.6.4. Middle East and Africa Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.6.5. Middle East and Africa Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.6.6. Middle East and Africa Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.6.7. Middle East and Africa Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6.8. Saudi Arabia
11.6.8.1. Overview
11.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.6.8.3. Saudi Arabia Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.6.8.4. Saudi Arabia Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.6.8.5. Saudi Arabia Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.6.8.6. Saudi Arabia Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6.9. United Arab Emirates
11.6.9.1. Overview
11.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.6.9.3. United Arab Emirates Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Million)
11.6.9.4. United Arab Emirates Market Size and Forecast, By Configuration, 2016 - 2027 (US$ Million)
11.6.9.5. United Arab Emirates Market Size and Forecast, By Coating, 2016 - 2027 (US$ Million)
11.6.9.6. United Arab Emirates Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
12. Key Vendor Analysis
12.1. Competitive Dashboard
12.2. Company Profiles
12.2.1. Ingersoll Cutting Tool Company
12.2.2. SGS Tool Company
12.2.3. Advent Tool & Manufacturing, Inc.
12.2.4. Garr Tool Company
12.2.5. Mitsubishi Materials Corporation
12.2.6. Best Carbide Cutting Tools, Inc.
12.2.7. CERATIZIT S.A.
12.2.8. PROMAX Tools
12.2.9. Rock River Tool, Inc.,
12.2.10. vHF Camfacture AG
12.2.11. Vora industries
12.2.12. carbide tools Manufacturing, Inc
12.2.13. Tunco Manufacturing Inc.
12.2.14. Global Excel Tools Manufacturing Sdn
12.2.15. PROMAX Tools
13. 360 Degree AnalystView
14. Appendix
14.1. Research Methodology
14.2. References
14.3. Abbreviations
14.4. Disclaimer
14.5. Contact Us
