Metal Cutting Tools Market 2026: Regional Analysis & Forecast

The global metal cutting tools market was valued at approximately $ 25 billion in 2019 and is projected to grow at a CAGR of more than 8% by 2026. Anticipated growth in the market can be attributed to the growing demand for additive manufacturing. Additive manufacturing is the process of creating three-dimensional objects using a digital file. 3D printing in aerospace and automotive industries enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques. As a result, the replacement of traditional manufacturing techniques with 3D printing will significantly reduce the capital costs, raw material costs, and costs to reclaim scrap in the coming years.

In terms of materials, the global metal cutting tools market is categorized into carbide, ceramics, CBN & PCD, and others. Among these, carbide is the dominating category and is anticipated to maintain its dominance during the forecast period as well. In terms of process, the milling process accounts for the largest share of the global metal cutting tools market.

From a geographical perspective, the global metal cutting tools market is categorized into Asia-Pacific, North America, Europe, Middle East & Africa, and South America. Among these, North America dominates the metal cutting tools market on account of growing demand for lightweight passenger vehicles and increasing aerospace and defense budgets in the region.

The global metal-cutting market is highly fragmented with the presence of numerous players. Some of the players operating in the global metal-cutting market are Sandvik, ISCAR, Kennametal, OSG USA INC., Tungaloy Corporation, Hitachi Metals, and Sumitomo Electric, among others.

Years considered for this report:

• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022–2026

The objective of the Study:

• To analyze and forecast the market size of the global metal cutting tools market
• To forecast the global metal cutting tools market based on material, process, end-use, and regional distribution
• To identify drivers and challenges for the global metal cutting tools market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global metal cutting tools market
• To conduct pricing analysis for the global metal cutting tools market
• To identify and analyze the profile of leading players operating in the global metal cutting tools market

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of Metal Cutting Tools manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels, and presence of all major metal-cutting tool manufacturers across the globe.

TechSci Research calculated the global metal cutting tools market size using both top-down and bottom-up approaches, wherein data for various end-user industries and their end-use across various types were recorded and forecasted for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these types and end-uses for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.

Key Target Audience:

• Metal cutting tools manufacturers
• Metal cutting tools suppliers, distributors, and other stakeholders
• Metal cutting tools end-user industries
• Organizations, forums, and alliances related to metal cutting tools market
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as solution providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, the global metal cutting tools market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Market, By Material
  • Carbide
  • Ceramics
  • CBN & PCD
  • Others (HSS, Cast Alloys)
• Market, By Process
  • Milling
  • Turning
  • Drilling
  • Rotary
  • Others
• Market, By End-Use
  • Automotive
  • Aerospace & Defense
  • Energy
  • Others
• Market, By Region:

• • North America
    • United States
    • Canada
    • Mexico
  • Asia Pacific
    • China
    • Japan
    • India 
    • South Korea
    • Indonesia
    • Rest of APAC
  • Europe
    • Germany
    • France
    • United Kingdom
    • Russia
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Iraq
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Peru
    • Rest of South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global metal cutting tools market.

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Table of Content

1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on the Global Metal Cutting Tools Market
5. Voice of Customer

5.1.  Factors considered while selecting a supplier

5.2.  Product awareness and applicability & usage analysis

5.3.  Challenges/issues faced post-purchase

5.4.  Unmet needs

6. Global Metal Cutting Tools Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Material (Carbide, Ceramics, CBN & PCD, Others)

6.2.2.     By Process (Milling, Turning, Drilling, Rotary, Others)

6.2.3.     By End-Use (Automotive, Aerospace & Defence, Energy, Others)

6.2.4.     By Region (North America; Asia-Pacific; Europe; Middle East & Africa; South America)

6.2.5.     By Company (2020)

6.3.  Market Attractiveness Index (By Material; By Process; By End-Use; By Region)

7. North America Metal Cutting Tools Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Material

7.2.2.     By Process

7.2.3.     By End-Use

7.2.4.     By Country

7.3.  United States Metal Cutting Tools Market Outlook

7.3.1.     Market Size & Forecast

7.3.1.1.         By Value

7.3.2.     Market Share & Forecast

7.3.2.1.         By Material

7.3.2.2.         By Process

7.3.2.3.         By End-Use

7.4.  Canada Metal Cutting Tools Market Outlook

7.4.1.     Market Size & Forecast

7.4.1.1.         By Value

7.4.2.     Market Share & Forecast

7.4.2.1.         By Material

7.4.2.2.         By Process

7.4.2.3.         By End-Use

7.5.  Mexico Metal Cutting Tools Market Outlook

7.5.1.     Market Size & Forecast

7.5.1.1.         By Value

7.5.2.     Market Share & Forecast

7.5.2.1.         By Material

7.5.2.2.         By Process

7.5.2.3.         By End-Use

8. Asia-Pacific Metal Cutting Tools Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Material

8.2.2.     By Process

8.2.3.     By End-Use

8.2.4.     By Country

8.3.  China Metal Cutting Tools Market Outlook

8.3.1.     Market Size & Forecast

8.3.1.1.         By Value

8.3.2.     Market Share & Forecast

8.3.2.1.         By Material

8.3.2.2.         By Process

8.3.2.3.         By End-Use

8.4.  Japan Metal Cutting Tools Market Outlook

8.4.1.     Market Size & Forecast

8.4.1.1.         By Value

8.4.2.     Market Share & Forecast

8.4.2.1.         By Material

8.4.2.2.         By Process

8.4.2.3.         By End-Use

8.5.  South Korea Metal Cutting Tools Market Outlook

8.5.1.     Market Size & Forecast

8.5.1.1.         By Value

8.5.2.     Market Share & Forecast

8.5.2.1.         By Material

8.5.2.2.         By Process

8.5.2.3.         By End-Use

8.6.  India Metal Cutting Tools Market Outlook

8.6.1.     Market Size & Forecast

8.6.1.1.         By Value

8.6.2.     Market Share & Forecast

8.6.2.1.         By Material

8.6.2.2.         By Process

8.6.2.3.         By End-Use

8.7.  Indonesia Metal Cutting Tools Market Outlook

8.7.1.     Market Size & Forecast

8.7.1.1.         By Value

8.7.2.     Market Share & Forecast

8.7.2.1.         By Material

8.7.2.2.         By Process

8.7.2.3.         By End-Use

9. Europe Metal Cutting Tools Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Material

9.2.2.     By Process

9.2.3.     By End-Use

9.2.4.     By Country

9.3.  Germany Metal Cutting Tools Market Outlook

9.3.1.     Market Size & Forecast

9.3.1.1.         By Value

9.3.2.     Market Share & Forecast

9.3.2.1.         By Material

9.3.2.2.         By Process

9.3.2.3.         By End-Use

9.4.  France Metal Cutting Tools Market Outlook

9.4.1.     Market Size & Forecast

9.4.1.1.         By Value

9.4.2.     Market Share & Forecast

9.4.2.1.         By Material

9.4.2.2.         By Process

9.4.2.3.         By End-Use

9.5.  United Kingdom Metal Cutting Tools Market Outlook

9.5.1.     Market Size & Forecast

9.5.1.1.         By Value

9.5.2.     Market Share & Forecast

9.5.2.1.         By Material

9.5.2.2.         By Process

9.5.2.3.         By End-Use

9.6.  Russia Metal Cutting Tools Market Outlook

9.6.1.     Market Size & Forecast

9.6.1.1.         By Value

9.6.2.     Market Share & Forecast

9.6.2.1.         By Material

9.6.2.2.         By Process

9.6.2.3.         By End-Use

9.7.  Italy Metal Cutting Tools Market Outlook

9.7.1.     Market Size & Forecast

9.7.1.1.         By Value

9.7.2.     Market Share & Forecast

9.7.2.1.         By Material

9.7.2.2.         By Process

9.7.2.3.         By End-Use