Global Carbide Insert Market to Reach USD 1,586.71 Million by 2030 | CAGR of 4.2%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Carbide Insert Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Global Carbide Insert Market size was valued at USD 1,150.67 million in 2022 and is projected to register a CAGR of 4.2%, reaching USD 1,586.71 million by 2030. Carbide inserts are crucial cutting tools in machining, offering high hardness and wear resistance, making them essential across automotive, aerospace, and electronics industries.
The report comprises the Carbide Insert Market Share, Size & Industry Analysis, By Product Type (Turning Inserts, Threading Carbide Inserts, Grooving Carbide Inserts, Milling Carbide Inserts, Drilling Carbide Inserts, Others), By End-Use Industry (Automotive, Electrical & Electronics, Aerospace, Building & Construction, Mining, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2023-2030.
The report contains detailed information on Carbide Insert Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
A booming automotive industry drives demand for carbide inserts, with further growth supported by advancements in the aerospace and electronics sectors.
Segmental Analysis :
By Product Type:
- Drilling carbide inserts dominated the market in 2022 due to their enhanced wear resistance and thermal stability, ideal for precision drilling applications.
- Turning inserts are expected to witness the highest growth, driven by demand for tools with stronger cutting edges and high feed rates in heavy-duty machining.
By End-Use Industry:
- Automotive held the largest share in 2022, fueled by the need for durable tools to machine various vehicle components.
- Electrical & electronics is anticipated to grow fastest, with carbide inserts supporting the production of intricate electronic components.
Based on regions, the global market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific led in 2022, with extensive applications across automotive and electronics sectors in countries like China and Japan.
- North America is projected to grow significantly, with rising use in construction and mining.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 1,586.71 Million |
| CAGR (2023-2030) | 4.2% |
| By Product Type | Turning Inserts, Threading Inserts, Grooving Inserts, Milling Inserts, Drilling Inserts, Others |
| By End-Use Industry | Automotive, Electrical & Electronics, Aerospace, Building & Construction, Mining, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Carbide Insert Industry:
- Iscar
- Mitsubishi
- Tungaloy
- Walter-Valenite
- Kyocera
- Tool-Flo
- Sumitomo
- Carmet Tools & Inserts Ltd.
- Winstar Cutting Technologies Corp.
- Knight Carbide, Inc.
Recent Industry Developments :
- May 2023: Kyocera launched CVD-coated carbide grades CA115P and CA125P, expanding options for steel turning applications with enhanced durability.
