15-Sep-2020 | Zion Market Research
As per the Zion Market Research analysts, the valuation of the global carbide tools market is estimated to be around USD 10,959.28 million by 2026, registering about 6.9% CAGR during the forecast period from 2020 to 2026. A few of the leading contenders in the global carbide tools market consist of Best Carbide Cutting Tools, Inc., Advent Tool & Manufacturing, Inc., Mitsubishi Materials Corporation, Garr Tool Company, CERATIZIT S.A., Ingersoll Cutting Tool Company, Rock River Tool, Inc., vhf camfacture AG, Vora Industries, SGS Tool Company, Tunco Manufacturing Inc., Carbide Tools Manufacturing, Inc., PROMAX Tools, Global Excel Tools Manufacturing Sdn, and others. these market players apply several strategies such as M&As, new product launches, agreements, and others to set a strong grip in the market. To cite, in 2019, a machine industry company, Arch Global Precision, has procured Mentor-located Competitive Carbide Inc. (CCI), a producer of customized solid carbide drills, reamers, end mills, custom inserts, and indexable tools. This acquirement will assist the Arch global Precision Company to increase its offering solution of coolant and custom indexable tooling through carbide drills, together with adding an important experience in the abilities of the PCD tooling.
Improvements In Manufacturing Designs Likely To Drive The Growth Of The Global Market
The growth of the global carbide tools market is mainly contributed by the improvements occurring in manufacturing design. In addition, excellent quality of end products and product efficiency are few other factors driving the growth of the market. Carbide tools are more preferred compared to other tools owing to their better quality end product. The elevated recognition of carbide tools, mainly within industrial applications, is also projected to drive the growth of the global carbide tools market during the assessment period. Moreover, the escalating requirement for speed cutting tools is anticipated to fuel the market expansion in the years to come.
Europe Is Anticipated To Lead The Global Market During The Forecast Period
The global carbide tools market is categorized based on application, grade type, material type, and region. The global market, based on material type, is segmented into calcium carbide, aluminum carbide, tungsten carbide, silicon carbide, titanium carbide, and iron carbide. Based on grade type, the carbide tools market is divided into steel-grade carbides and cast-iron carbides. The global carbide tools market, based on applications, is bifurcated into chamfering, machining of threads, engraving, drilling, cutting, milling, grooving, and others. Regionally, China and India are projected to expand at a considerable growth rate within the global carbide tools market on account of the vigorous expansion being experienced in end-use industries and the rising consciousness regarding automation in the metal fabrication industry. Also, Europe is expected to lead the global carbide tools market in terms of value share during the forecast period. In addition, the rise in sales of hybrid and electric vehicles is expected to surge the requirement for carbide tools in this region during the coming period.
Browse the full “Global Carbide Tools Market- By Grade Type (Steel-Grade Carbide And Cast-Iron Carbides), By Material Type (Calcium Carbide, Aluminum Carbide, Tungsten Carbide, Silicon Carbide, Titanium Carbide, And Iron Carbide), By Application (Chamfering, Engraving, Drilling, Machining Of Threads, Cutting, Milling, Grooving, And Others), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/carbide-tools-market
The global carbide tools market is segmented as follows:
By Material Type
By Grade Type
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