1. Market Research
  2. > Automotive Market Trends
Carbide Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Tool Type, Configuration, and End-User

Carbide Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Tool Type, Configuration, and End-User

  • April 2021
  • 165 pages
  • ID: 6073128
  • Format: PDF
  • The Insight Partners
Up to $1710 off Until Jul 31st 2021

Summary

Table of Contents

Search Inside

The carbide tools market was valued at US$ 10,623.97 million in 2020 and is projected to reach US$ 15,320.99 million by 2028; it is expected to grow at a CAGR of 4.8% from 2021 to 2028.

Carbide tools retain their cutting-edge hardness at high machining temperatures generated by high cutting speeds and feeds that reduce machining cycle time.These tools confer improved surface finish and hold size with better quality for prolonged periods.

Along with this, carbide tools last longer due to the carbide chip forming surface resists wear as the chip flows over the tools.This reduces the need for costly changes with increased scrap and rework.

Further, carbide tools are used when machining highly abrasive materials.The carbide is also known as tungsten carbide as it comprises half part tungsten and half part carbide.

The substance features stiffness thrice that of steel and is commonly used on other types of wood-cutting tools as well. Carbide-tipped wood cutting tools higher cutting speed than standard steel-based woodworking tools. Thus, the better performance capabilities of carbide tools than their counterparts are propelling the growth of the carbide tools market.

The carbide tool market is segmented on the basis of tool type, configuration, end user, and geography.Based on tool type, the market is segmented into end mills, tipped bores, burrs, drills, cutters, and other tools.

In 2020, the end mills segment accounted for the largest market share.In terms of configuration, the market is bifurcated into hand-based and machine-based.

In 2020, the machine-based segment accounted for a larger share in the market.Based on end-user, the carbide tools market is segmented into automotive and transportation, metal fabrication, construction, oil and gas, heavy machinery, and other end-users.

In 2020, the automotive and transportation segment accounted for the largest share in the market. Geographically, the global carbide tools market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the APAC segment accounted for the significant share in the global market.

The COVID-19 pandemic has shaken several industries.The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles’ and human’s movement.

Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has adversely affected economies and countless industries in various countries.The lockdown imposition has resulted in lesser production of commodities, goods, and services.

Therefore, manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.The worldwide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities along with production volume across several manufacturers, especially the small & medium enterprise owners.

Moreover, the production activities in multiple industries have contracted significantly during 2020, resulting in decline in the carbide tools market. However, with the increasing need for healthcare products, the demand for carbide tools is surging from the medical industries.

The overall carbide tools market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the carbide tools market with respect to all the segments.It also provides the overview and forecast for the global carbide tools market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the carbide tools market.

A few major players operating in the global carbide tools market are Xinrui Industry Co., Ltd.; CERATIZIT S.A.; GARR TOOL; Ingersoll Cutting Tool Company; KYOCERA Precision Tools; DIMAR GROUP; MITSUBISHI MATERIALS Corporation; Sandvik Coromant; YG-1 Co., Ltd.; and Makita Corporation.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
20% Off

$4550

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on