Global Carbide Tools Market to Reach USD 10.1 Billion by 2028 at a 6.90% CAGR: Markets N Research (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value)

Markets N Research
Markets N Research

The global carbide tools market size was valued at USD 6.8 billion in 2021. The market is projected to grow from USD 6.8 billion in 2021 to USD 10.1 billion by 2028, exhibiting a CAGR of 6.90% during the forecast period.

Chicago, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The global carbide tools market is expected to grow strongly, reaching USD 10.1 billion by 2028. As per the report titled "Carbide Tools Market Size, Share & COVID-19 Impact Analysis, By Product (Drilling Tools, Miling Tools, Turing Tools, and Others), By Configuration (Hand-Based and Machine-Based), By Coating (Coated and Noncoated), By End Use Industry (Automotive, Electronics & Electrical, Aerospace, Marine & Defense, Plastics, Construction & Mining, and Others) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 6.8 billion and USD 10.1 billion in 2028. The market is expected to exhibit a CAGR of 6.90% during the forecast period.

30% of Chile's Mantoverde Copper Mine was Purchased by Mitsubishi Materials Corporation

In February 2021, Mitsubishi Materials Corporation purchased 30% of the Chilean Mantoverde Copper Mine, Delas cutting tools, and tools with carbide tips. The purchase cost somewhere around USD 275 million. The acquisition improved the company's product line for automotive and construction industries.

Market Overview

Carbide is an essential element that frequently coexists with other natural elements, including boron, silicon, metal, and steel. Machine tools and tool holders made of carbide are quite durable, so they may last longer while keeping the cutting edges. Due to their distinct qualities, such as high machining temperatures, cutting-edge retention speed, short cycle times, superior wear resistance, and long working life, these tools are widely used in machining applications. Growing advancements in manufacturing design and expanding demands to increase production effectiveness are laying the groundwork for manufacturers to look into better machine tool products, driving demand for carbide tools.

Request a Sample Copy of the Carbide Tools Market Report:

Growth Factor

Product Technological Development to Drive Market Expansion

Major players are now concentrating on introducing new technological advancements like barrel tools and damped boring bar technology to increase market competition. Key players are also concentrating on launching a new line of cutting tools made of technologically cutting-edge carbide. For instance, LMT Tools India Pvt Ltd introduced novel RMC cutters for 5-axis CNC machines in April 2020. The new, cutting-edge RMC cutters have attributes like lower operating expenses and higher output. Compared to other traditional tools, it operates with less vibration. Future technological developments in these products are anticipated to increase demand for them.

Market Expansion will be Hampered During the Pandemic by Halted Manufacturing Sectors

The COVID-19 outbreak led to the implementation of a partial or total lockdown, leading to numerous manufacturing processes' failure. Additionally, the supply chain disruption, manufacturing facility closures, and stopped construction-related activities negatively impacted the market's expansion. For instance, the net sales of the American-based OSG Corporation decreased by 17.8% between 2019 and 2020. The major players noticed a marked decline in revenue made in 2020. Lockdown was implemented worldwide in response to governmental restrictions, which reduced demand for such tools in the transportation and automotive industries and restrained market expansion.

Click Here to Access a Free Sample Report of the Global Carbide Tools Market @

List of Key Players Profiled in the Report

  • KYOCERA Corporation

  • Sandvik AB

  • YG-1 Co., Ltd.

  • Makita Corporation


  • Mitsubishi Materials Corporation

  • Guhring Limited

  • Allied Machine & Engineering Corp.

  • IMC Group

  • OSG Corporation

  • Kennametal Inc.

  • Elementos de Mecanismos, S.A. de C.V. (Elmec)

  • Fullerton Tool Company

  • Sumitomo Electric Hartmetall GmbH

  • Xinrui Industry Co., Ltd.

  • Sorma S.p.A.

  • Fratelli Vergnano Srl

  • TDC Cutting Tools Inc.


  • Cutoutil Hardware Tools Co.,Ltd.

Quick Buy- Carbide Tools Market Report:

Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the carbide tools market plan acquisitions to improve their brand recognition globally. For instance, in November 2020, Mastercam and GARR TOOL partnered to provide customers with a full tool library natively within the Mastercam platform. Given the dependence of the manufacturing process on quick and simple access to data, the partnership will be of enormous value to current and future customers.

Notable Industry Development

  • July 2021: Sandvik AB signed a contract and bought a 67% stake in the Chinese company Chuzhou Yongpu Carbide tipped Tools Co Ltd, which sells cutting and carbide cutting tools. The purchase was made to broaden the geographic scope of the product portfolio of carbide tools.

Ask For Discount @

Report Scope and Segmentation

Report Coverage


Forecast Period


Forecast Period 2021 to 2028 CAGR


2028 Value Projection

10.1 billion

Base Year


Market Size in 2021

6.8 billion

Historical Data for

2018 - 2021

Segments covered

By Product, By Configuration, By Coating, By End User Industry and By Geography

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America

Segmentation of Global Carbide Tools Market

Global Carbide Tools Market – By Product

  • Drilling tools

  • Miling tools

  • Turing tools

  • Others

Global Carbide Tools Market – By Configuration

  • Hand-Based

  • Machine-Based

Global Carbide Tools Market – By Coating

  • Coated

  • Noncoated

Global Carbide Tools Market – By End User Industry

  • utomotive

  • Electronics & Electrical

  • Aerospace, Marine & Defense

  • Plastics

  • Construction & Mining

  • Others

Ask For Customization @

Regional Overview

Europe is projected to hold the largest share of the carbide tools market over the forecast period due to robust economic growth in the U.K. and countries like Germany. A strong infrastructure sector and the presence of significant cutting tool producers in the European region both helped the market flourish. The need for these products is also fueled by the established infrastructure sector and utility business. It is also widely utilized in the construction, aerospace, and automotive industries. The demand for these instruments is anticipated to rise due to this aspect, accelerating market expansion.

Further Report Findings

  • The market in North America is expected to gain a huge portion of the global carbide tools market share in the coming years because of the thriving infrastructure industry. Furthermore, the business of carbide tools is anticipated to grow due to the presence of several significant manufacturers.

  • Leading companies' ongoing development of many new products in the U.K. is expected to boost sales.

  • In Asia Pacific, the growth in this region is primarily driven by rapid industrialization in developing nations like South Korea, China, and India. An increase in automotive and construction manufacturers is also driving the demand for carbide tools.

Download PDF Broucher @

Still, Looking for More Information? OR Want Data for Inclusion in Magazines, Case Studies, Research Papers or Media?

Email Directly Here with Detail Information:

About Markets N Research

When it comes to investing and money matters, you need the leading market research consultancy firm to help you make the right decisions during the toughest business questions and decisions. Markets N Research is the leading research company offering both tactical and strategic support to all our customers. Customer satisfaction is our goal and that is why, we have a team of skilled and experienced specialist with the ability to do data mining, information management, and revenue enhancement solutions to ensure that our clients make informed decisions when coming to investing in the market.

Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges.

Contact Us:
Markets N Research
US: +1-773-649-1529
Follow on Linkedin:
Follow on Twitter:
Like us on Facebook:

Browse More Machinery and Equipments Industry Reports @

Machine Condition Monitoring Market, By Monitoring Technique: (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, and Others), By Monitoring Process (Online Condition Monitoring and Portable Condition Monitoring), By Industry (Oil & Gas, Power Generation, Metals & Mining, Automotive, Aerospace & Defense, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 - 2028

Rotor Type Desiccant Dehumidifier Market, By Type (Compact, and Large); By End-use Industry (Energy, Chemical, Electronic, Food & Pharmaceutical, and Others); Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 - 2028

Energy Recovery Devices Market, By Type: (Reverse Turbine, Pelton Wheel, Pressure Exchanger, Work Exchanger, and Electric Motor Drive), By Applications (Construction, Oil & Gas, Water Desalination, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 - 2028

Blasting Services Market, By Type (Internal Blasting, and External Blasting); By Application (Construction, Mining, Tunneling, and Seismic Exploration); Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 – 2028

Global Electric Lawn Rakers Market - By Product Type: (Working width under 20 cm, Working width 20 to 30 cm, and Working width above 30 cm), By Applications (Private Garden, City Garden, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 - 2028

Global Satellite Roller Screws Market, By Type (Standard Planetary Roller Screw, Inverted Roller Screw, Recirculating Roller Screw and Bearing Ring Roller Screw); By End-use Industry (Oil & Gas, Aerospace, Automotive, Steel Manufacturing and Others) Market Growth, Future Prospects, Post COVID-19 Scenario 2020 - 2028

Reciprocating Compressor Market By Type (Single-Acting Reciprocating Compressor, Double-Acting Reciprocating Compressor) by End-use (Oil and Gas, Manufacturing, Health Care, Food and Beverages, Semiconductor and Electronics, Mining, Others) Market Growth, Future Prospects, Government & Defense. Post COVID-19 Scenario 2020 - 2028

Induction Motors Market By Type (Single-phase Induction Motors, and Three-phase Induction Motors) By Application (Commercial, Industrial, Residential, and Others) Market Growth, Future Prospects, Government & Defense) Post COVID-19 Scenario 2020 - 2028