The Global Carbide Tools Market was valued at $11.9 billion in 2019, this market is expected to grow from $11.5 billion in 2021 to $16.0 billion by 2027 with a compound annual growth rate (CAGR) of 8% for the period of 2021-2027.
Carbide tools maintain cutting edge hardness at high machining temperatures resulting from high cutting speeds and feeds that shorten machining cycle times. This tool provides improved surface finish and maintains size with better quality over a long period of time. Along with this, carbide tools last longer due to the carbide chip forming surface that resists wear as the chips flow over the tool. This reduces the need for costly changes by increasing scrap and rework. Carbide tools are also used when machining highly abrasive materials. Carbide is also called tungsten carbide because it is composed of half-part tungsten and half-part carbide. This material has three times the stiffness of steel and is also commonly used in other types of wood cutting tools. Carbide tipped wood cutting tools cut faster than standard steel based woodworking tools. Therefore, the better performance features of carbide tools than their counterparts are driving the growth of the carbide tool market.
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Market Segmentation
By Type – Aluminium Carbide, Calcium Carbide, Silicon Carbide, Tungsten Carbide, Iron Carbide
By Application – Engraving, Chamfering, Cutting, Drilling, Grooving, Milling, Machining of Threads
Key Players
Some of the prominent players that fuel the growth of the global carbide tools market includeAdvent Tool & Manufacturing, Inc., Best Carbide Cutting Tools, Inc., Garr Tool Company, Mitsubishi Materials Corporation, Ingersoll Cutting Tool Company, CERATIZIT S.A., VHF Camfacture AG, Rock River Tool, Inc., SGS Tool Company, Vora Industries, carbide tools Manufacturing, Inc., Tunco Manufacturing Inc., Global Excel Tools Manufacturing Sdn, PROMAX Tools, and others.
Scope of the Report
The research study analyzes the global Carbide Tools industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Carbide Tools Market Report
1. What was the Carbide Tools Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
2. What will be the CAGR of Carbide Tools Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Carbide Tools Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Carbide Tools market.
- The market share of the global Carbide Tools market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Carbide Tools market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Carbide Tools market.
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