Metal Cutting Tools Market Research Report: Information by Tool Type (Indexable Inserts and Solid Round Tools), Material Type (Cemented Carbide, High-Speed Steel, Stainless steel, Ceramics, Polycrystalline Diamond, Cubic Boron Nitride and Exotic materials), Application (Automotive, Aerospace & Defence, Construction, Electronics, Oil & Gas, Power Generation, Wood, Die and Mold and others) – Forecast till 2030

Metal Cutting Tools Market Overview

The metal cutting tools market size is expected to attain a global market value of USD 110.48 Billion to attain a global CAGR of 6.73% during 2022-2030. The structural and design changes and the increasing trend of light-weighting in passenger cars and trucks, which is a result of the stringent emission norms, are likely to create a significant demand for the market during the forecast period 2022-2030.

• On Aug.16, 2022, the Haimer Group announced that it would demonstrate its advanced automated shrinking and cutting tool - Automation Cube, at AMB 2022, the international exhibition for metal working to be held from Sep. 13 to 17, 2022. The handling tasks of Automation Cube are performed by a cobot that supports the shrinking & unshrinking process and the measuring process of tools with highly accurate length repeatability.

COVID 19 Analysis

Before the lockdown and pandemic hit the assembling enterprises, the global metal cutting tools market witnessed a significant demand and rising market momentum. The abrupt spread of COVID 19 in the form of a pandemic similarly affects the foreign investments and inflows from global companies in various market regions. The lack of skilled labor, resources, and investment is further hampering the market's ability and hence, creating more havoc and issues for the market during the forecast period ending in 2027.

The Covid 19 has short, long stretch effects that lead to the crisis on the business chain, especially manufacturing and distribution channels. The legal constraints were that the client isn't demanding the market products and is altering its way of living and lifestyle preferences. It is further challenging the ability of the market producers and manufacturers. Many  restricted extension undertakings have shown up during the time. Still, the rising investment in research and development will help the market grow as predicted during the forecast period.

• On Jul. 03, 2021, Emkay Taps & Cutting Tools Ltd., a metal cutting machine tools manufacturer, stated that it managed to navigate the challenges ahead and gain market share even during uncertainties due to the pandemic. The company was continuously assessing its operations, profitability, liquidity position, and demand for its products to respond to the future impact of COVID-19. The firm remained optimistic about the growth of its business, subject to changes amidst the pandemic worldwide. 

The onset of COVID-19 affected the metal-cutting tools market briefly, and demand remained reassuringly dynamic & constantly changing. In such situations, agility to respond to market changes became more important than ever in post-pandemic periods. Emkay adopted advanced technologies to respond to the vast demand for metal-cutting tools from the heritage industry. 

Metal Cutting Tools Market Dynamics

• Drivers

There has been a substantial increase in the adoption of industry 4.0, which is one of the major factors driving the global growth of the metal cutting tools market. Rapid industrialization and urbanization in developing and developed countries such as India, China, Brazil, the U.S., the U.K., Mexico, and Canada have boosted the growth of various industries such as Metal, manufacturing, and aerospace & defense industries. This, in turn, is expected to boost the demand for metal cutting tools during the forecast period. In addition, an increase in population, rise in disposable income, the surge in employment rate, and improvement in the standard of living in countries such as India, China, Mexico, Canada, Russia, Malaysia, and Thailand have resulted in the growth of manufacturing industries. It has accelerated the demand for metal cutting tools. Furthermore, additive manufacturing, industrial automation, computerized numeric control (CNC), computer-aided manufacturing (CAM), and 3D printing have significantly reduced material cost and capital cost, positively impacting the demand for metal cutting tools.

Also, the advent of alternative manufacturing processes is driving the growth of this market during the forecast period.

• On Apr. 11, 2022, ARCH Cutting Tools Corp. announced the acquisition of Greene Tool Systems, Inc. to develop tools that can solve the most challenging cutting tool applications and meet the rising customer demand for advanced cutting tools. ARCH's broad product offerings complement Greene Tool Systems' expertise in engineered cutting tools with a skilled sales force. 


• On Sep.18, 2021, ARCH Cutting Tools Corp.(the US) announced the acquisition of CONTOUR360, a leading global supplier of high-quality engineered solid round metal cutting tools to deliver custom metal cutting tools to customers in the medical, aerospace, automotive, defense, and industrial manufacturing markets.

• Restraints

However, high initial cost and high operating and maintenance cost is a key restraint, which is expected to hinder the market's growth during the forecast period. In addition, the lack of skilled personnel to operate machines equipped with metal cutting tools and a rise in daily wages hamper the growth of the metal cutting tool market. Furthermore, the growth of the equipment rental market has decreased the demand for new equipment, which, in turn, is expected to decrease the demand for metal cutting tools shortly, thereby limiting the market growth.

• Technology Analysis

The cutting tools market of metals includes various market products like magnesium, aluminum, cast iron, zinc, and stainless steel, amongst others, emerging as the top material types considered and covered in the market report for the ongoing forecast period. However, the most famous market material type is cast iron, which emerged as the top-performing market segment in the historic forecast period that ended in 2019. It has the highest share of more than an aggregate of 60% and can also attain a decent growth rate of 6.70% in the upcoming years, as a part of the forecast period ending in 2027. Cast iron, as a market product, is primarily used in a series of applications including gas burners, engine blocks, housings, manifolds, railroad brake shoes, enclosures, hydraulic components, and others like automobile door hinges, and connecting rods, amongst the others like farm and construction machinery alongside sprockets as well.

Metal Cutting Tools Market Segment Overview

The market's excellent performance is resulting in the expansion of the metal casting industry along with excellent opportunities during the forecast period that will be ending in 2027. The market includes the following market segments:

The global metal cutting tool market is segmented into product type, material, end-user industry, and region. The market is differentiated into turning tools, drilling tools, milling tools, and rotary tools by product type. Based on material, it is segregated into cemented carbide, carbon steel, high-speed steel (HSS), polycrystalline diamond (PCD), ceramics, stellite, cubic boron nitride (CBN), cast alloys. Depending on the end-user industry, it is fragmented into construction, aerospace & defense, Metal, marine, manufacturing, electronics, and energy. It is analyzed regionally, across prominent participants like North America, Asia-Pacific, Europe, and LAMEA.

• On May 03, 2021, Wilsonart Engineered Surfaces announced the acquisition of Flagg Incorporated, a leading wholesale distributor to the building & remodeling industry. Flagg distributes supplies and services for construction, carpentry, and engineering. This strategic acquisition represents significant growth potential allowing Wilsonart to expand its footprint in the Midwest.

Metal Cutting Tools Market Regional Analysis

The Asia Oceania region is projected to be the most significant and fastest-growing metal casting market during the forecast period ending in 2027. The market is expected to establish domination in volume and value during the ongoing review period. The Asia Oceania region will likely emerge as the most promising Metal Casting Market in the upcoming eight years. The main reason behind this is the increased production of passenger cars and electric vehicles to cater to the rising demand for the same in the global region.

• On Oct. 24, 2022, KnKut Drill Bits & Cutting Tools (the US), a leading cutting tool manufacturer, announced its plan to showcase an impressive lineup of Hole Solutions and metal cutting tools specifically designed for the automotive aftermarket at SEMA 2022 to be held during Nov. 1-4, 2022 in Las Vegas, NV. 

KnKut Drill Bits offers a wide variety of tough and dependable metal cutting tools, drill bits, reamers, taps, and die sets. KnKut manufactures all of its drill bits and cutting tools in the US, giving it a competitive advantage by allowing strict quality control over the raw material supply to develop and launch products.

Metal Cutting Tools Market Competitive Landscape

The prominent players of the market that are helping in the expansion of the metal cutting tools market share are:

• Fanuc America Corporation


• Hitachi Metals


• Amada Machine Tools Co. Ltd.


• Tungaloy Corporation


• BIG Kaiser Precision Tooling Inc.


• Tiangong International Co.


• Sandvik, Komatsu Ltd.


• Ingersoll Cutting Tool Company


• Kennametal


• Doosan Machine Tools Co. Ltd.

Recent Developments

• For instance, in February 2019, a 3D printed steel tool that can cut titanium was created by Jimmy Toton, a Ph.D. candidate of the prominent - RMIT University, based in Australia. This research was conducted by the RMIT University in collaboration with the Defence Materials Technology Centre (DMTC) and Sutton Tools, an Australia-based tool manufacturer. It, in turn, is expected to increase the penetration of 3D printed steel tools, thereby creating an opportunity for growth in the metal cutting tool market. Furthermore, mergers & acquisitions followed by the new product launches are the key strategies being adopted by key players to reach a large customer base and increase the product portfolio.


• In February 2020, another market player - Drillco Cutting Tools Inc. launched Step Reamers, made from high-speed steel (HSS). This product launch is anticipated to help the company expand its product offerings to gain a high market share in the U.S. In addition, in December 2019, SandvikAB, operating in Sweden, acquired the metal cutting tool division of Quimmco Centro Tecnologico, based in Mexico. This acquisition is projected to boost the company's solid carbide tools business and expand the product capabilities to serve the Mexican market.

Intended Audience

• Metal casting components producers manufacturers


• Metal casting component suppliers, distributors, and trading firms


• Metal casting materials manufacturers, producers, and suppliers


• Metal component manufacturing market groups and associations


• Government, public sector firms, and regulatory authorities


• Research firms and consulting companies, and organizations

Metal Cutting Tools Market Report Overview

The metal cutting tools market report covers the overall market functioning and discusses the potential of the global market from a series of market aspects. The global market report covers the following market aspects:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Technology Analysis


• Study Objectives


• Segment Overview


• Regional Analysis


• Competitive Landscape


• Recent Developments

The report discusses the factors that will lead to the expansion of the metal cutting tools market and give rise to global competition. The report predicts the CAGR growth and the attainable market revenue for 2021-2027.

Study Objectives

• The metal cutting tools market report conducts a qualitative market analysis of the market conduct, functions, and trends that will help the industry experts and leaders predict the market CAGR growth rate followed by the attainable market revenue for the forecast period that will be ending in 2027. The global market report also discusses the market dynamics that will lead the market's way for growth and expansion, followed by the possible factors that will give rise to the restraints that might challenge the market.


• The report further discusses the basis of the global market segments that help the market expand its revenue potential and cater to the rising needs of the target audience that is spread in various locations across the globe. The global market segments in giving rise to the needs of the market players.


• The market report also highlights the factors and doings of the prominent market players like mergers, acquisitions, joint ventures, collaborations, investments, as well.