Global Cutting Tool Inserts Market to Grow at a CAGR of 9% through 2021: Technavio

Technavio has published a new report on the global cutting tool inserts market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global cutting tool inserts market is expected to grow at a CAGR of close to 9% during the forecast period.

This research report titled ‘Global Cutting Tool Inserts Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

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The market research analysis categorizes the global cutting tool inserts market into three major types of product segments. They are:

  • Carbide tool inserts
  • CBN inserts
  • Ceramic inserts

Carbide tool inserts

Carbide is a hard material that is widely used in cutting tools for machining and finds applications in many end-user industries. Carbide consists of many particles of carbide cemented into a composite by binder metal. The cemented carbide generally uses three types of aggregates such as tungsten carbide (WC), titanium carbide (TiC), and tantalum carbide (TaC). Among these aggregates, tungsten carbide is widely used in industrial applications.

“The use of carbide tools provides a better surface finish and faster machining. Carbide tools can withstand high temperatures, as a result of which these tools can be used for cutting tough materials such as carbon steel and stainless steel,” says Gaurav Mohindru, a lead analyst at Technavio for tools and components research.

CBN inserts

Cubic boron nitrides (CBN), is an artificially made material that is very hard like diamond, and is stable under high temperatures (approximately 1000 degrees Celsius). CBN is widely used in machining ferrous and super alloy materials.

CBN tool inserts enable higher cutting and feed rates than other conventional tool materials. In addition, CBN tool inserts maintain a sharp cutting edge, good surface finish and enable an increase in productivity. Thus, the increase in usage of CBN inserts in manufacturing industries is expected to drive the market during the forecast period.

Ceramic inserts

Ceramic grades have broader applications and materials when compared to other inserts, and the ceramic inserts find applications primarily in high-speed turning, milling, and grooving operations. In addition, ceramic grades enable high productivity when used optimally. Apart from this, higher heat and wear resistance is another factor that drives the market for ceramic inserts.

The advantages of using ceramic grades include better productivity as ceramic inserts run at a higher speed than carbide. Moreover, the use of an external coolant is not required while using ceramic inserts. Due to their high metal removal rates, they are widely used in engine castings and oil drilling equipment.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • North American Carbide
  • Kennametal Foundation
  • ISCAR
  • Ingersoll Cutting Tools
  • Sandvik

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global cutting tool inserts market is expected to grow at a CAGR of close to 9% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com