Top Trends in Cutting Tools Manufacturing

Industry Outlook Team

Reports estimate the global cutting tools market size to be worth USD 34.42 billion by 2025 with the opportunities growing at a CAGR of 3.25 percent. For instance, when it concerns heavy industrial operations and unprecedented production, cutting tools have gained significant importance with the rising demand due to the global industrialization and the necessity for an operative and well-functioning economy.

Furthermore, one of the mega trends in the cutting tools has been the convergence of Industry 4.0 with opportunities of voluminous trade and adoption on the cutting tools market. Also with the suite of Industrial Internet of Things solutions intended at facilitating industrialists to organize for Industry 4.0, things look promising for the players in the cutting tools manufacturing.

Also, to capitalize on the burgeoning global requirements is enforcing industrialists to employ advanced tools with the adoption of new age technologies. Thus, this has offered a right environment for the conjunction of Digital Control System (DCS) and cutting tools. So, as an utmost necessity for cutting tools hence elevating its application trajectory, this digitized layout will considerably reduce any chances of compromise on precision.

Cutting Tool Inserts
Another segment which is going to see a positive growth bandwagon is the cutting tool inserts. When it comes to the cutting tool inserts, a majority of the revenues in the cutting tool inserts market is generated through replacement due to its limited life span of just fifteen minutes. Thus, constant need for replacement through new units is said to create an incremental growth for the cutting tool inserts market in the near future.

Damped boring bar technology
Another important cutting-tool trend one should be wary of is vibration reduction in turning through damped boring bar technology. This technology is being used in cutting tools to reduce vibration and improve hole quality in extended-reach internal turning operations. So for this, often troublesome application, almost all major tooling manufacturers offer some sort of damped boring bar technology. Furthermore, to actively monitor boring conditions, manufacturers have come with the innovation to offer tools with bluetooth-capable sensors along with a mobile app.

Printing in Manufacturing
Utilizing a technology that can increase the number of manufacturers familiar with 3D printing, cutting-tool giants are pursuing another innovative tool making strategy to further the process of evolution in this segment. One company named Sandvik Coromant saw great success at autonomous vehicle maker wherein the milling time on a composite shuttle chassis by 95 percent. And thanks to the quick-change Capto head, setup times were reduced.

The Challenges
The environmental concerns and also the health of the cutting tools has become a major factor that is restraining the cutting tools market growth today. Suppliers and machine tool builders are very much dependent on cutting fluids to control the high temperature, diminish wear and rust, supply lubricity and provide chip evacuation in cutting tools. Although the exposure to the fluid also has potential health vulnerabilities to the machine operators. However, conventional substitutes are surfacing along with the advancements in industrial protective gears for operators with constant and substantial influx of investments in R&D.