Global Cutting Tools Supply, Demand and Key Producers, 2026-2032

The global Cutting Tools market size is expected to reach $ 42370 million by 2032, rising at a market growth of 5.8% CAGR during the forecast period (2026-2032).

In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.

Global cutting tools key players include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG etc. Global top 5 manufacturers hold a share over 40%.

Europe is the largest market, with a share about 30%, followed by North America and China, both have a share over 48% percent.

In terms of product, high speed steel is the largest segment, with a share over 45%. And in terms of application, the largest application is machinery, followed by automotive.

This report studies the global Cutting Tools production, demand, key manufacturers, and key regions.

This report is a detailed and comprehensive analysis of the world market for Cutting Tools and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Cutting Tools that contribute to its increasing demand across many markets.

Highlights and key features of the study

Global Cutting Tools total production and demand, 2021-2032, (M Units)

Global Cutting Tools total production value, 2021-2032, (USD Million)

Global Cutting Tools production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (M Units), (based on production site)

Global Cutting Tools consumption by region & country, CAGR, 2021-2032 & (M Units)

U.S. VS China: Cutting Tools domestic production, consumption, key domestic manufacturers and share

Global Cutting Tools production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (M Units)

Global Cutting Tools production by Type, production, value, CAGR, 2021-2032, (USD Million) & (M Units)

Global Cutting Tools production by Application, production, value, CAGR, 2021-2032, (USD Million) & (M Units)

This report profiles key players in the global Cutting Tools market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG, Sumitomo Electric, Mapal, Kyocera, YG-1, Nachi-Fujikoshi, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Cutting Tools market

Detailed Segmentation:

Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (M Units) and average price (USD/K Units) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.

Global Cutting Tools Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World

Global Cutting Tools Market, Segmentation by Type:
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others

Global Cutting Tools Market, Segmentation by Application:
Machinery
Automotive
Aerospace
Energy
Others

Companies Profiled:
Sandvik
IMC Group
Mitsubishi
Kennametal
OSG
Sumitomo Electric
Mapal
Kyocera
YG-1
Nachi-Fujikoshi
ZCC·CT
Union Tool
Korloy
LMT
Ceratizit
Jiangsu Tiangong Tools Co., Ltd.
Shanghai Tool Works Co., Ltd.
OKE Precision Cutting Tools Co., Ltd.
Guhring
Tivoly

Key Questions Answered:

1. How big is the global Cutting Tools market?

2. What is the demand of the global Cutting Tools market?

3. What is the year over year growth of the global Cutting Tools market?

4. What is the production and production value of the global Cutting Tools market?

5. Who are the key producers in the global Cutting Tools market?

6. What are the growth factors driving the market demand? Show more