Oct 29, 2017 SOURCE: BusinessWire

Global HSS Metal Cutting Tools - Product-based Segmentation and Analysis | Technavio

According to the latest market study released by Technavio, the global HSS metal cutting tools market is expected to grow at a CAGR of close to 9% during the forecast period.

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Technavio has published a new report on the global HSS metal cutting tools market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global HSS metal cutting tools Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

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The market research analysis categorizes the global HSS metal cutting tools market into the following segments based on products. They are:

Milling tools
Drilling tools
Tapping tools
Others

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The top three product segments of the market are discussed below:

Global HSS metal cutting tools market by milling tools

In 2016, milling tools constituted the largest share of the global HSS metal cutting tools market, accounting for 35.31% of the total market share. To perform typical milling operations, milling tools are generally used with milling machines or machining centers. They assist in removing materials by their movement within the machine or directly from the cutter's shape. There are several types of HSS milling metal cutting tools such as ball nose cutter and dovetail cutter. The material to be cut should be fed into the milling cutter when it is operating, and it is essential to understand and analyze the formation of the chip. Small parts of the material are cut by the teeth of the cutter. To achieve a superior product quality, the chip should be of the correct size and shape.

According to Gaurav Mohindru, a lead analyst at Technavio for tools and components research, “The automotive and shipbuilding industry has adopted the milling tools due to their extreme precision. The sales of milling tools are rising rapidly due to the growth of the global automotive industry and an increase in investments in defense budget by various governments. One of the advantages of employment of milling tools is that the metal is removed at a faster pace as milling tools have multiple cutting edges that rotate at a higher speed than most other cutting tools.”

Global HSS metal cutting tools market by drilling tools

Drilling tools accounted for 29.66% of the total market share of the global HSS metal cutting tools market in 2016, becoming the second largest shareholder in this market. Drilling cutters use a drill bit, which is a rotary cutting tool that is usually multipoint. They are used to cut a circular cross-section in solid materials by forcing the drill bit against the workpiece and rotating it at rates from hundreds to thousands of revolutions per minute (RPM). The mechanical properties of the workpiece could be affected due to the process of drilling. This happens while creating low residual stress on the hole opening and a very minute thin layer of highly stressed material on the newly formed surface. To overcome this shortcoming, a finish operation is required.

“Skilled labor and expert machinery are required to achieve higher productivity. Therefore, drilling operations require attention and detail. High-quality precision drilling is gradually gaining popularity and is in high demand among aerospace manufacturers who encourage the development of technologically advanced solutions to cater to their specific needs,” says Gaurav.

Global HSS metal cutting tools market by tapping tools

The third-largest share of the global HSS metal cutting tools market in 2016 was occupied by the tapping tools segment that accounted for 27.17% of the total share. Tapping tools are utilized to produce screw threads. This process is called tapping, and a tapping tool is used to form the female portion of the mating pair such as a nut. There are several kinds of taps, including bottoming tap and forming tap. Speed is a major advantage of employing tapping tools at a worksite. A high-speed tapping tool set up with a rigid tap can thread holes much faster than a milling tool can. Therefore, they are gaining increasing adoption, especially in industries that demand tight schedule adherence and accuracy, such as the defense sector.

The top vendors highlighted by Technavio’s market research analysts in this report are:

Sandvik Coromant
Kennametal
NACHI-FUJIKOSHI
OSG
LMT Onsrud

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