- Carbide cutting tools form an essential part of industrial tools. They are a particular form of cutting tools utilized as metal cutting tools for a number of materials on heavy duty machines such as CNC lathes, turret lathes, engines lathes, and chuckers.
- Carbide cutting tools possess special carbide tips which are brazed onto steel metal surfaces and bodies. Cutting carbide tools are more resistant to wear and have a longer shelf life compared to normal cutting tools.
Key Drivers of the Global Carbide Cutting Tool Market
- Increasing use of carbide tools in industrial applications is a prime reason for the growth of the carbide cutting tool market. Increasing automation levels across various end-use industries is another key trend of the market.
- Increasing demand for enhanced cutting tools by manufacturers to develop advance and modern machining is anticipated to fuel the growth of the carbide cutting tool market.
- Additionally, e-commerce platforms providing carbide cutting tools at competitive rates is another key factor driving the market. Emergence of e-commerce platforms helps in expanding the geographical presence of manufacturers of carbide cutting tools, thereby resulting in overall growth of the carbide cutting tool market.
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Merger and acquisition to create new opportunities for the carbide cutting tool market
- Merger and acquisition by key global players with regional players is an important business opportunity for the growth of the carbide cutting tool market. Such business strategies not only help in capturing new geographical locations, but also help in creating new business opportunities in emerging economies.
Limitations in terms of shape and type of carbide cutting tools restrains market growth
- One of the key factors restraining the growth of the carbide cutting tool market is its limitation in terms of shape and type. Shape and size of cutting edges are limited compared to high speed steel. Additionally, carbide cutting tools are more brittle than high speed steel, leading to more frequent breakage. This limits the growth of the carbide cutting tool market to certain industries only.
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Asia Pacific region offers growth avenues for the global carbide cutting tool market
- Geographically, the global carbide cutting tool market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- Countries in North America and Europe are home to some of the key companies specialized in carbide cutting tools. Super Tool Inc., Kennmetal, Gartool, Allied Machine & Engineering Corp, and Solid Carbide Tools etc. are some of the well-known brands in the carbide cutting tool market in the United States.
- Asia Pacific region is anticipated to create lucrative market opportunities in the next couple of years. Increasing number of emerging economies in the region is anticipated to augment the growth of the carbide cutting tool market.
- Other regions such as South America and Middle East & Africa have strong growth potential for the carbide cutting tool market.
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Key Players Operating in the Global Market
The global carbide cutting tool market is highly fragmented with presence of many key global players and regional carbide cutting tool manufacturers. A few of the key players operating in the global carbide cutting tool market include:
- Mitsubishi Materials Corporation
- Global Excel Tools Manufacturing Sdn
- Ingersoll Cutting Tool Company
- Best Carbide Cutting Tools
- Advent Tool & Manufacturing
- Sandvik Coromant
- DIMAR Group
- SGS Tool Company
- PROMAX Tools
- vhf camfacture AG
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