Global Cutting Tool Inserts Market 2017-2021
About Cutting Tool Inserts
The cutting edge in the cutting tool consists of a separate piece of material called a tool insert, which is either brazed or clamped on the tool body. The insert is generally made of materials such as carbide, CBN, and ceramic inserts.
Technavio’s analysts forecast the global cutting tool inserts market to grow at a CAGR of 8.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cutting tool inserts market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cutting Tool Inserts Market 2017-2021
Technavio recognizes the following companies as the key players in the global cutting tool inserts market: North American Carbide, Kennametal Foundation, ISCAR, Ingersoll Cutting Tools and Sandvik.
Other Prominent Vendors in the market are: KOMET, LOVEJOY Tool, Seco and TYROLIT.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of double-sided inserts for rough turning applications. The use of double-sided inserts in rough turning applications enhances the process reliability in rough turning by combining a ground contact surface with an optimized profile which has a protective layer that guards the inserts from fracturing.”
According to the report, one driver in the market is rise in construction activities in emerging nations of APAC. The global construction market is witnessing a mixed trend across various regions. Although the slowdown in the Chinese economy has impacted the global construction market, infrastructure planning in developing economies such as India and Indonesia will boost the growth of the global cutting tools market. As a result, this will propel the demand for the turning tools market.
Further, the report states that one challenges in the market is fluctuating raw material prices. Turning tool manufacturers require to invest a high amount of capital to provide advanced and innovative tools in the market, which have grown considerably. Inputs such as iron and steel, aluminum, stainless steel, titanium, brass, copper, and other alloys are necessary to manufacture machine tools for drilling, boring, lathes, gear cutting, grinding, and polishing machines.
North American Carbide, Kennametal Foundation, ISCAR, Ingersoll Cutting Tools, Sandvik, KOMET, LOVEJOY Tool, Seco and TYROLIT.
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