Metal Cutting Tools Market Insights on Trends, Drivers and Opportunities

forecast period. These tools will continue to represent the majority of the total machine tool
market. Fluctuations in commodity prices are one of the main obstacles to market growth.
However, the growth in the demand for additive manufacturing is an important trend that will
weigh in the market of cutting tools. These tools are also useful in 3D printing. 3D printing in
the aerospace and automotive industries allows the production of complex geometries
impossible with traditional manufacturing techniques and will contribute significantly to the
reduction of capital costs, the costs of raw materials and the cost of waste recovery during the
forecast period.
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Global <strong>Metal</strong> <strong>Cutting</strong> <strong>Tools</strong> <strong>Market</strong> Geographical Segmentation:
Depending on the geography, the global market for metal cutting tools is segmented in North
America, Europe, Asia-Pacific, Middle East and Africa and South America. The Asia-Pacific region
is expected to dominate the market in the coming years due to growth in the automotive and
industrial sectors. In addition, with the increase in the number of countries increasing their
defense budgets, it is expected that the global market for metal cutting tools will grow in the
near future. In addition, the rapid industrialization and expansion of manufacturing industries in
India and China are leading to a greater need for tools and equipment, which will affect the
growth of the cutting tool market.
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Global <strong>Metal</strong> <strong>Cutting</strong> <strong>Tools</strong> <strong>Market</strong> Key Players:
Kennametal, BIG KAISER Precision Tooling Inc., Sandvik AB, Ceratizit S.A., Fraisa SA, Dewalt,
Nachi-Fujikoshi Corp., Kilowood <strong>Cutting</strong> <strong>Tools</strong>, OSG USA, INC., Xiamen Golden Egret Special
Alloy Co. Ltd., Zhuzhou Cemented Carbide <strong>Cutting</strong> Tool Co. Ltd., Guhring, Inc., Ingersoll <strong>Cutting</strong>
Tool Company, Sumitomo Electric Hartmetall GmbH, Tiangong International Co., Kyocera
Unimerco, and ISCAR LTD. are the major players of the market.