Metal Cutting Tools Market Report Scope & Overview:

The Metal Cutting Tools Market size was valued at USD 82.81 Bn in 2023 and is expected to reach USD 132.98 Bn by 2031 and grow at a CAGR of 6.1% over the forecast period 2024-2031.

Metal cutting tools are cutting tools that are used to remove material from metallic workpieces via the shear deformation process. Depending on the cutting edges available, a metal cutting tool can be single-point or multi-point. Drilling, milling, and broaching tools are examples of multi-point tools, whereas the shaping tool is an example of a single-point tool. For a long service life, a metal cutting tool should have the right hardness, toughness, and wear resistance. Drilling, reaming, milling, broaching, tapping, boring, and threading are all machining techniques that can benefit from these tools. Hacksaws, jigsaws, grinders, and snips are all common metal cutting instruments.

Metal Cutting Tools Market Revenue Analysis

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Market growth is projected due to an increase in the demand for 3D printers. In additive manufacturing technology, a digital picture may be used to construct three-dimensional objects. In the aerospace and car sectors, 3D printing enables the manufacture of complex geometries that would be impossible to fabricate using traditional manufacturing processes. As a result, traditional manufacturing techniques will be phased out in favor of 3D printing in the next years, lowering capital, feedstock, and scrap reclamation costs. Capital, feedstock, and scrap reclamation expenditures will all be greatly reduced in the future thanks to 3D printing.



  • Increasing demand from industries.

  • Rising demand in end-use industries.

  • Rising demand for households.


  • Lack of skilled labor.

  • The cost of cutting tools is high.


  • The manufacturing industry is rapidly developing over the world.

  • Rise dramatically in response to shifting customer needs.


  • Metal-cutting liquids' Environmental and health effects in manufacturing environments


Many objects are made and put together with the help of cutting tools. Shutdowns had a negative impact on the cutting tool industry all around the world. Despite this, the Asia-Pacific area is one of the world's largest manufacturers of cutting tools, which has a negative influence on market growth.

Many sectors have been negatively affected as a result of the interrupted supply networks. Automobiles, aircraft and military, construction, electronics, oil and natural gas, energy generation, woodworking, and die-and-molding are only a few of the industries involved. Materials sales have plummeted, especially in countries that have been quarantined. A coronavirus outbreak has undoubtedly escalated the trade dispute between China and the United States. Most enterprises and material suppliers have been impacted as a result of government restrictions on the import and export of parts.


In terms of tool type, the solid round tools segment led the worldwide metal cutting tool market in 2021, followed by indexable inserts. Due to advancements in the manufacturing industry and the implementation of modern working tools such as computer-aided design (CAD) and computer-aided manufacturing (CAM) to build indexable inserts, the market for indexable tool inserts has seen significant expansion.

In terms of material type, the cemented carbide segment had the greatest market share in 2021 and is expected to keep that position during the forecast period. One of the important factors expected to drive demand for cemented carbide during the projected period is the growth in automotive component production activities throughout the world, which is expected to enhance the metal cutting tool market.

The automotive category has the biggest market share in terms of application throughout the predicted period. The development of carbon fiber and other new materials for lightweight automobiles, as well as the development of electric vehicles, is projected to improve automotive production. Furthermore, the global automobile sector is quickly expanding. Cutting tools are in more demand in automotive applications as a result of these causes.


On the Basis of Tool Type

  • Turning Tools

  • Drilling Tools

  • Milling Tools

  • Rotary Tools

On the Basis of Material

  • Cemented Carbide 

  • Carbon Steel

  • High-speed Steel (HSS)

  • Polycrystalline Diamond (PCD)

  • Ceramics

  • Stellite

  • Cubic Boron Nitride (CBN)

  • Cast Alloys

On the Basis of End-user

  • Construction

  • Aerospace & Defense

  • Automotive

  • Marine

  • Manufacturing

  • Electronics

  • Energy

Metal Cutting Tools Market Segment Analysis

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Geographically, the global Metal cutting tools market research has been divided into four regions: the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Asia Pacific region controls the majority of the global Metal cutting tool market. Machine tools, vehicles, electronics, and retail products, among other industries, are all represented in the region. Other major factors impacting the growth of the metal cutting tool market are access to low-cost raw materials and a skilled workforce in the area. Metal cutting tools are in great demand in developing countries such as India, China, and South Korea, where construction and manufacturing are rising. In Europe, the market for cutting tools is growing in popularity. The region's booming car and energy manufacturing industries are driving cutting tool sales. Furthermore, the growing popularity of fuel-efficient autos and replacement auto components in the area gives the cutting tool industry a lot of promise.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The major key players are Fanuc America Corporation, Amada Machine Tools Co. Ltd., BIG Kaiser Precision Tooling Inc., Sandvik, Komatsu Ltd., Kennametal, Doosan Machine Tools Co. Ltd., Ingersoll Cutting Tool Company, Tiangong International Co., Tungaloy Corporation, Hitachi Metals and Other Players

Amada Machine Tools Co. Ltd-Company Financial Analysis

Metal Cutting Tools Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 82.81 Billion
Market Size by 2031  US$ 132.98 Billion
CAGR  CAGR of 6.1% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Tool Type (Turning Tools, Drilling Tools, Milling Tools, Rotary Tool)
• By Material (Cemented Carbide, Carbon Steel, High-speed Steel (HSS), Polycrystalline Diamond (PCD), Ceramics, Stellite, Cubic Boron Nitride (CBN), Cast Alloys)
• By End-user (Construction, Aerospace & Defense, Automotive, Marine, Manufacturing, Electronics, Energy)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Fanuc America Corporation, Amada Machine Tools Co. Ltd., BIG Kaiser Precision Tooling Inc., Sandvik, Komatsu Ltd., Kennametal, Doosan Machine Tools Co. Ltd., Ingersoll Cutting Tool Company, Tiangong International Co., Tungaloy Corporation, Hitachi Metals.
Key Drivers •Increasing demand from industries.

•Rising demand in end-use industries.

•Rising demand for households.
Restraints •Lack of skilled labor.
•The cost of cutting tools is high.

Frequently Asked Questions

Ans: - The Metal Cutting Tools Market size was valued at USD 78.05 Bn in 2022.

Ans: - The Asia Pacific region controls the majority of the global Metal cutting tool market.

Ans: - The Asia Pacific region controls the majority of the global Metal cutting tool market.

Ans: - The major key players are Fanuc America Corporation, Amada Machine Tools Co. Ltd., BIG Kaiser Precision Tooling Inc., Sandvik, Komatsu Ltd., Kennametal, Doosan Machine Tools Co. Ltd., Ingersoll Cutting Tool Company, Tiangong International Co., Tungaloy Corporation, Hitachi Metals.

Ans: - The Metal Cutting Tools Market is growing at a CAGR of 5.9% From 2023 to 2030.

Table of Contents

1. Introduction

1.1 Market Definition 

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of Ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Metal Cutting Tools Market Segmentation, by Tool Type

8.1 Turning Tools

8.2 Drilling Tools

8.3 Milling Tools

8.4 Rotary Tools

9. Metal Cutting Tools Market Segmentation, by Material

9.1 Cemented Carbide 

9.2 Carbon Steel

9.3 High-speed Steel (HSS)

9.4 Polycrystalline Diamond (PCD)

9.5 Ceramics

9.6 Stellite

9.7 Cubic Boron Nitride (CBN)

9.8 Cast Alloys

10. Metal Cutting Tools Market Segmentation, by End-user

10.1 Construction

10.2 Aerospace & Defense

10.3 Automotive

10.4 Marine

10.5 Manufacturing

10.6 Electronics

10.7 Energy

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe


11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12. Company Profiles

12.1 Fanuc America Corporation

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Amada Machine Tools Co. Ltd.

12.3 BIG Kaiser Precision Tooling Inc.

12.4 Sandvik

12.5 Komatsu Ltd.

12.6 Kennametal

12. 7 Doosan Machine Tools Co. Ltd.

12.8 Ingersoll Cutting Tool Company

12.9 Tiangong International Co.

12.10 Tungaloy Corporation

12.11 Hitachi Metals

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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