Future Market Insights has announced the addition of the “Carbide Tools Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.

Valley Cottage, NY -- (SBWire) -- 03/14/2017 --Machine tools plays a very crucial role in manufacturing of metal components through machining. Computerized numerical control (CNC) machines are prominently used for machining of metal components which requires high precision for producing complex shapes of varied dimensions. Currently, there are mainly two types of machine tools prominently used. HSS (High Speed Steel) and Carbide Tools; among which Carbide Tools is most prevalent for machining applications primarily due to exceptional wear resistance, chemical inertness, material strength and other superior characteristics. Often machining system productivity is mainly guided by the use of machine tools with superior characteristics such as long lasting capability, rigorous operating and high speed performance. This factor is primarily gaining the consumer attraction towards adoption of carbide tools over conventional tools. Although carbide tools are more costly but considering the time required for machining the component, employing carbide tools can remarkably result in improved quality, increased output and lower machining & labor cost.

Carbide Tools Market: Drivers, Challenges and Trends

Development in manufacturing design and need to achieve production efficiency is laying the foundation for manufacturer's exploration of high-end products, thus increasing the demand for carbide tools. Moreover, manufacturers pushing efforts towards optimised cutting geometries and high performance coating is gaining consumer attraction which in turn is driving the global carbide tools market.

As resharpenig of carbide cutting tools is of prime concern, major players are now investing in resharping tool facilities comparable to new tool production for both in-house and outsourced operations. Reconditioning of carbide tool primarily to reduce inventory cost, avoid material waste is also the major focus area of many players in the global carbide tools market.

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Carbide Tools Market: Key Developments

In March 2016, CERATIZIT S. A. announced extended range of materials grades for carbide tools manufacturers. With over 50 new dimensions for end-mill blanks and through coolant capability the company aimed at meeting the demands of niche applications namely threading and cutting.

Carbide Tools Market: Segmentation

Global Carbide Tools market can segmented by material type, by grade type, by application and by geography.

Based on material type global carbide tools market can be segmented into:-

Calcium Carbide
Aluminum Carbide
Silicon Carbide
Tungsten Carbide
Iron Carbide
Titanium Carbide

Global carbide tools market can further be segmented on the basis of applications:-

Milling
Engraving
Chamfering
Cutting
Machining of threads
Drilling
Grooving
Others

By grade type, global carbide tools market can be segmented as:-

cast-iron carbides
steel-grade carbide

By Geography, global Carbide Tools market can be segmented into:-

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan (APEJ)
Japan
Middle East and Africa (MEA)

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Carbide Tools Market: Key Players

Some of the major players identified across the global carbide tools market includes Mitsubishi Materials Corporation, Ingersoll Cutting Tool Company, CERATIZIT S.A., vhf camfacture AG, Rock River Tool, Inc., SGS Tool Company, Best Carbide Cutting Tools, Inc., Vora Industries, Carbide Tools Manufacturing, Inc., Tunco Manufacturing Inc., Global Excel Tools Manufacturing Sdn, Advent Tool & Manufacturing, Inc., PROMAX Tools, Garr Tool Company and others. The competition topography for carbide tools is fragmented due to presence of many different players in the global carbide tools market. Some of the players operates globally with full-line assortment of solid drilling, solid milling and solid threading, while other players are more niche with one product area and limited geographical presence. Moreover, key players in order to expand their market share are focusing towards acquisition of existing players dominating in the target application market.