APO RESEARCH · REPORT
Cutting Tools
In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.
Product & engineering
Understand the product.
In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.
Selected research
Industry Research
Cutting Tools Industry Research Report 2026
Market perspective
In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.
Global Cutting Tools key players include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG etc. Global top five manufacturers hold a share over 40%.
Europe is the largest market, with a share over 30%, followed by North America and Japan, both have a share over 40% percent.
Read the full market overview
In terms of product, High Speed Steel is the largest segment, with a share over 40%. And in terms of application, the largest application is Automotive Industry followed by Machinery Industry.
Report Scope
This report quantifies the global Cutting Tools market in revenue (US$ million) and, where applicable, sales volume (M Units), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/M Units) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Cutting Tools.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Cutting Tools Market by Company
Sandvik
IMC Group
Mitsubishi
Kennametal
OSG
Sumitomo Electric
Mapal
Kyocera
Nachi-Fujikoshi
YG-1
Shanghai Tool
ZCCCT
Union Tool
Korloy
LMT
Ceratizit
Guhring
Tivoly
Tiangong
Harbin No.1 Tool
Cutting Tools Segment by Type
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others
Cutting Tools Segment by Application
Machinery Industry
Automotive Industry
Aerospace Industry
Energy Industry
Others
Cutting Tools Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Cutting Tools market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Cutting Tools and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Cutting Tools.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Cutting Tools manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Cutting Tools by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Cutting Tools in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Cemented Carbide
- High Speed Steel
- Ceramics
- Diamond
- Others
Applications
- Machinery Industry
- Automotive Industry
- Aerospace Industry
- Energy Industry
- Others
Companies covered
- Sandvik
- IMC Group
- Mitsubishi
- Kennametal
- OSG
- Sumitomo Electric
- Mapal
- Kyocera
- Nachi-Fujikoshi
- YG-1
- Shanghai Tool
- ZCCCT
- Union Tool
- Korloy
- LMT
- Ceratizit
- Guhring
- Tivoly
- Tiangong
- Harbin No.1 Tool
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Cutting Tools by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Cemented Carbide
- 2.2.3 High Speed Steel
- 2.2.4 Ceramics
- 2.2.5 Diamond
- 2.2.6 Others
- 2.3 Cutting Tools by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Machinery Industry
- 2.3.3 Automotive Industry
- 2.3.4 Aerospace Industry
- 2.3.5 Energy Industry
- 2.3.6 Others
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Cutting Tools Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Cutting Tools Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Cutting Tools Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Cutting Tools Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Cutting Tools Production by Manufacturers (2021-2026)
- 3.2 Global Cutting Tools Production Value by Manufacturers (2021-2026)
- 3.3 Global Cutting Tools Average Price by Manufacturers (2021-2026)
- 3.4 Global Cutting Tools Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Cutting Tools Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Cutting Tools Manufacturers, Product Type & Application
- 3.7 Global Cutting Tools Manufacturers Established Date
- 3.8 Global Cutting Tools Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Sandvik
- 4.1.1 Sandvik Cutting Tools Company Information
- 4.1.2 Sandvik Cutting Tools Business Overview
- 4.1.3 Sandvik Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.1.4 Sandvik Product Portfolio
- 4.1.5 Sandvik Recent Developments
- 4.2 IMC Group
- 4.2.1 IMC Group Cutting Tools Company Information
- 4.2.2 IMC Group Cutting Tools Business Overview
- 4.2.3 IMC Group Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.2.4 IMC Group Product Portfolio
- 4.2.5 IMC Group Recent Developments
- 4.3 Mitsubishi
- 4.3.1 Mitsubishi Cutting Tools Company Information
- 4.3.2 Mitsubishi Cutting Tools Business Overview
- 4.3.3 Mitsubishi Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.3.4 Mitsubishi Product Portfolio
- 4.3.5 Mitsubishi Recent Developments
- 4.4 Kennametal
- 4.4.1 Kennametal Cutting Tools Company Information
- 4.4.2 Kennametal Cutting Tools Business Overview
- 4.4.3 Kennametal Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.4.4 Kennametal Product Portfolio
- 4.4.5 Kennametal Recent Developments
- 4.5 OSG
- 4.5.1 OSG Cutting Tools Company Information
- 4.5.2 OSG Cutting Tools Business Overview
- 4.5.3 OSG Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.5.4 OSG Product Portfolio
- 4.5.5 OSG Recent Developments
- 4.6 Sumitomo Electric
- 4.6.1 Sumitomo Electric Cutting Tools Company Information
- 4.6.2 Sumitomo Electric Cutting Tools Business Overview
- 4.6.3 Sumitomo Electric Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.6.4 Sumitomo Electric Product Portfolio
- 4.6.5 Sumitomo Electric Recent Developments
- 4.7 Mapal
- 4.7.1 Mapal Cutting Tools Company Information
- 4.7.2 Mapal Cutting Tools Business Overview
- 4.7.3 Mapal Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.7.4 Mapal Product Portfolio
- 4.7.5 Mapal Recent Developments
- 4.8 Kyocera
- 4.8.1 Kyocera Cutting Tools Company Information
- 4.8.2 Kyocera Cutting Tools Business Overview
- 4.8.3 Kyocera Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.8.4 Kyocera Product Portfolio
- 4.8.5 Kyocera Recent Developments
- 4.9 Nachi-Fujikoshi
- 4.9.1 Nachi-Fujikoshi Cutting Tools Company Information
- 4.9.2 Nachi-Fujikoshi Cutting Tools Business Overview
- 4.9.3 Nachi-Fujikoshi Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.9.4 Nachi-Fujikoshi Product Portfolio
- 4.9.5 Nachi-Fujikoshi Recent Developments
- 4.10 YG-1
- 4.10.1 YG-1 Cutting Tools Company Information
- 4.10.2 YG-1 Cutting Tools Business Overview
- 4.10.3 YG-1 Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.10.4 YG-1 Product Portfolio
- 4.10.5 YG-1 Recent Developments
- 4.11 Shanghai Tool
- 4.11.1 Shanghai Tool Cutting Tools Company Information
- 4.11.2 Shanghai Tool Cutting Tools Business Overview
- 4.11.3 Shanghai Tool Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.11.4 Shanghai Tool Product Portfolio
- 4.11.5 Shanghai Tool Recent Developments
- 4.12 ZCCCT
- 4.12.1 ZCCCT Cutting Tools Company Information
- 4.12.2 ZCCCT Cutting Tools Business Overview
- 4.12.3 ZCCCT Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.12.4 ZCCCT Product Portfolio
- 4.12.5 ZCCCT Recent Developments
- 4.13 Union Tool
- 4.13.1 Union Tool Cutting Tools Company Information
- 4.13.2 Union Tool Cutting Tools Business Overview
- 4.13.3 Union Tool Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.13.4 Union Tool Product Portfolio
- 4.13.5 Union Tool Recent Developments
- 4.14 Korloy
- 4.14.1 Korloy Cutting Tools Company Information
- 4.14.2 Korloy Cutting Tools Business Overview
- 4.14.3 Korloy Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.14.4 Korloy Product Portfolio
- 4.14.5 Korloy Recent Developments
- 4.15 LMT
- 4.15.1 LMT Cutting Tools Company Information
- 4.15.2 LMT Cutting Tools Business Overview
- 4.15.3 LMT Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.15.4 LMT Product Portfolio
- 4.15.5 LMT Recent Developments
- 4.16 Ceratizit
- 4.16.1 Ceratizit Cutting Tools Company Information
- 4.16.2 Ceratizit Cutting Tools Business Overview
- 4.16.3 Ceratizit Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.16.4 Ceratizit Product Portfolio
- 4.16.5 Ceratizit Recent Developments
- 4.17 Guhring
- 4.17.1 Guhring Cutting Tools Company Information
- 4.17.2 Guhring Cutting Tools Business Overview
- 4.17.3 Guhring Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.17.4 Guhring Product Portfolio
- 4.17.5 Guhring Recent Developments
- 4.18 Tivoly
- 4.18.1 Tivoly Cutting Tools Company Information
- 4.18.2 Tivoly Cutting Tools Business Overview
- 4.18.3 Tivoly Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.18.4 Tivoly Product Portfolio
- 4.18.5 Tivoly Recent Developments
- 4.19 Tiangong
- 4.19.1 Tiangong Cutting Tools Company Information
- 4.19.2 Tiangong Cutting Tools Business Overview
- 4.19.3 Tiangong Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.19.4 Tiangong Product Portfolio
- 4.19.5 Tiangong Recent Developments
- 4.20 Harbin No.1 Tool
- 4.20.1 Harbin No.1 Tool Cutting Tools Company Information
- 4.20.2 Harbin No.1 Tool Cutting Tools Business Overview
- 4.20.3 Harbin No.1 Tool Cutting Tools Production, Value and Gross Margin (2021-2026)
- 4.20.4 Harbin No.1 Tool Product Portfolio
- 4.20.5 Harbin No.1 Tool Recent Developments
5 Global Cutting Tools Production by Region
- 5.1 Global Cutting Tools Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Cutting Tools Production by Region: 2021-2032
- 5.2.1 Global Cutting Tools Production by Region: 2021-2026
- 5.2.2 Global Cutting Tools Production Forecast by Region (2027-2032)
- 5.3 Global Cutting Tools Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Cutting Tools Production Value by Region: 2021-2032
- 5.4.1 Global Cutting Tools Production Value by Region: 2021-2026
- 5.4.2 Global Cutting Tools Production Value Forecast by Region (2027-2032)
- 5.5 Global Cutting Tools Market Price Analysis by Region (2021-2026)
- 5.6 Global Cutting Tools Production and Value, YOY Growth
- 5.6.1 North America Cutting Tools Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Cutting Tools Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Cutting Tools Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Cutting Tools Production Value Estimates and Forecasts (2021-2032)
6 Global Cutting Tools Consumption by Region
- 6.1 Global Cutting Tools Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Cutting Tools Consumption by Region (2021-2032)
- 6.2.1 Global Cutting Tools Consumption by Region: 2021-2026
- 6.2.2 Global Cutting Tools Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Cutting Tools Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Cutting Tools Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Cutting Tools Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Cutting Tools Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Cutting Tools Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Cutting Tools Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Cutting Tools Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Cutting Tools Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Cutting Tools Production by Type (2021-2032)
- 7.1.1 Global Cutting Tools Production by Type (2021-2032) & (M Units)
- 7.1.2 Global Cutting Tools Production Market Share by Type (2021-2032)
- 7.2 Global Cutting Tools Production Value by Type (2021-2032)
- 7.2.1 Global Cutting Tools Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Cutting Tools Production Value Market Share by Type (2021-2032)
- 7.3 Global Cutting Tools Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Cutting Tools Production by Application (2021-2032)
- 8.1.1 Global Cutting Tools Production by Application (2021-2032) & (M Units)
- 8.1.2 Global Cutting Tools Production Market Share by Application (2021-2032)
- 8.2 Global Cutting Tools Production Value by Application (2021-2032)
- 8.2.1 Global Cutting Tools Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Cutting Tools Production Value Market Share by Application (2021-2032)
- 8.3 Global Cutting Tools Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Cutting Tools Value Chain Analysis
- 9.1.1 Cutting Tools Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Cutting Tools Production Mode & Process
- 9.2 Cutting Tools Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Cutting Tools Distributors
- 9.2.3 Cutting Tools Customers
10 Global Cutting Tools Analyzing Market Dynamics
- 10.1 Cutting Tools Industry Trends
- 10.2 Cutting Tools Industry Drivers
- 10.3 Cutting Tools Industry Opportunities and Challenges
- 10.4 Cutting Tools Industry Restraints
11 Report Conclusion
12 Disclaimer
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