Zion Market Research

Carbide Tools Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2024


Sarasota, FL -- (SBWIRE) -- 05/18/2018 -- Carbide Tools Market: Overview

Machine tools are very important for manufacturing of metal components in machining. High speed steel tools and carbide tools are widely used machine tools. From which carbide tools are most popular for machining applications. Carbide tools have exceptional characteristics like wear resistance, material strength, chemical inertness and other superior properties. The machining system productivity is mainly depending upon machine tools. Carbide tools have significant Properties such as high speed performance, long lasting capabilities and harsh operating attracts consumers for adoption of carbide tools over conventional tools. Carbide tools are very hard in nature. Carbide tools are costly but time required for machining by carbide is less, improve output, lowers the labor cost, superior surface finish of component and improve overall quality of product. Carbide tools consists of composition of carbide cement and binder metal. The process of composition of the carbide particles with the binder is known as sintering. Generally carbide uses three types of materials such as titanium carbide, tungsten carbide and tantalum carbide. Among these, tungsten carbide is widely used in machining. Cobalt metal is used as binder in tungsten carbide.

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Carbide Tools Market: Growth Factors

The carbide tools market grown by its development in manufacturing design. Also there are many factors which help to grow global carbide tools market such as product efficiency, exceptional quality of end products. Product efficiency gives an edge in mass production in manufacturing industry. Superior quality of end product makes carbide tools more preferable than other tools. The carbide tools have features like less material wastage, decreased labor cost, superior quality and decrease in inventory cost. These features attract manufacturers to invest in carbide tools. Automation of industries is an aspect which is expected to increase the growth of global carbide tools market. Manufacturers are highly focusing on high performance which attracts customers that is subsequently fuelling the growth of carbide tools market. One of the key aspects responsible for this market is the exponential growth in the automotive industry. On the other side there are some factors which hamper the growth of carbide tools market such as high cost of carbide tools.

Carbide Tools Market: Segmentation

Global carbide tools market is segmented into material type, grade, application, and geography. Global carbide tools market can be further segmented on the basis of material type are Aluminum carbide, Calcium carbide, Iron Carbide, Silicon carbide, Titanium carbide, Tungsten carbide. Based on grade, global carbide tools market can be segmented into Steel-grade carbides, Cast-iron carbides. Based on applications, global carbide tools market can be segmented into Cutting, Chamfering, Drilling, Engraving, Grooving, Milling, Machining of threads, other. Based on geography, global carbide tools market can be segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East and Africa.

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Carbide Tools Market: Regional Analysis

In the global carbide tools market, North America dominates the market. Growth in the distribution channel and high labor cost are the factors which are responsible for the growth in North America. Automotive and manufacturing sectors present in countries like China and India are driving the growth of carbide tools market in these regions. Hence, the Asia Pacific region is expected to be the fastest growing region for carbide tools market.

Carbide Tools Market: Competitive Players

The major competitors in global carbide tools market are Mitsubishi Materials Corporation, Rock River Tool, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool Company, Tunco Manufacturing Inc., Global Excel Tools Manufacturing Sdn, Ingersoll Cutting Tool Company, Best Carbide Cutting Tools, Vora Industries, CERATIZIT S.A., vhf camfacture AG, SGS Tool Company, Global Excel Tools Manufacturing Sdn., Sandvic, Kennametal Foundation, BIG KAISER, NACHI-FUJIKOSHI.

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Carbide Tools Market: Regional Segment Analysis

North America
The U.S.
The UK
The Asia Pacific
Latin America
The Middle East and Africa

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