Global Micro Tool Market By Product Type (Cast Iron Grade Carbide, Steel Grade Carbide And Others), By Application (Milling, Engraving, Cutting, And Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Micro Tool Market By Product Type (Cast Iron Grade Carbide, Steel Grade Carbide And Others), By Application (Milling, Engraving, Cutting, And Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Micro Tool Market by Product Type (Cast Iron Grade Carbide, Steel Grade Carbide and Other Products), By Application (Milling, Engraving, Cutting, Drilling, Grooving and Other Applications), and by Region -Global Forecast to 2030, which offers a holistic view of the global micro tool market through systematic segmentation that covers every aspect of the target market.

The global Micro Tool market is projected to be US$ 883.9 Mn in 2020 to reach US$ 1263.9 Mn by 2030 at a CAGR of 3.6%.

Machine tools are employed for shaping or machining metal to give specific form using cutting, grinding, shearing and others. High-speed tools and carbide tools are widely used machine tools. Micro tools are the smallest precision instruments generally available for laboratory, medical use and others. Carbide cutting tool also is known as carbide tipped cutting tools are widely used as metal cutting tools. Carbide micro tools have been developed for application where cutting needs to be done on the microscale. Carbide tools are highly significant and extensively used in machining applications, owing to its excellent features such as high speed, long working life, precision, etc. The fast-growing need for micro machining tooling capabilities is expected to aid market growth. Micro tools market is segmented into product type, application and region. Steel grade carbide micro tools are expected to account for a dominant share in the market, while titanium alloy micro tools are delivering new trends in the market. Drilling applications is projected to register a larger share, owing to increasing demand for high-speed micro tools in electronic components.

Robust industrialization and strong growth of the manufacturing sector, particularly in emerging economies, including China and India, are expected to be the key factor to fuel demand for micro tools market. Increasing demand for flexible and customized microstructure with high quality is resulting in growing adoption of micro tools in the coming years. Healthy growth of end-user industries such as automotive, dental, the medical, laboratory is expected to be one of the major aspect propelling market growth for micro tools. Strong adoption of advanced cutting and other machining technologies by large-scale industries is expected to be another factor driving the growth of the global micro tools market.


Global Micro Tool Market Revenue (US$ Mn), 2021 to 2030


However, micro Tools are more expensive as compared to standard tools which act as a major restraint for wide adoption of these tools, particularly in cost sensitive low and medium-scale industries.
Moreover, manufacturers are giving more emphasis on longer flute length, reach the length and special coating such as aluminium titanium nitride (AITiN), which is expected to introduce a new line of tapered rib cutters that create a draft on moulds for hardened machine materials

Global micro tool market is segmented on the basis of product type, application and region. On the basis of product type, the market is segmented into cast iron grade carbide, steel grade carbide and other products. The steel grade carbide segment accounts for the majority share in the global Micro Tool market, while the milling is expected to register the highest growth rate over the forecast period. On the basis of application, the market is segmented into milling, engraving, cutting, drilling, grooving and other applications. The milling accounts for a majority share in the global micro tool market.


Global Micro Tool Market by Product Type, 2018


On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. The APAC accounts for the majority share in the global Micro Tool market, owing to increasing healthy growth of end-use industries such as automotive and another sector. North America is expected to register the highest growth rate over the forecast period. Countries and regions such as South America and MEA are expected to register stable growth over the forecast period.

The research report on the global micro tool market includes profiles of some of major companies such as Cipla Ltd., Apotex Inc., Mitsubishi Materials Corporation, Rock River Tool Inc, KYOCERA Corporation, Ingersoll Cutting Tool Company, Tunco Manufacturing, Garr Tool Company, Hobe GmbH, Sandvik AB, ARCH Global Precision LLC and other prominent players.



Below are the active patents related to Micro Tool Market.


Patent Number: US20120240386A1

Tool compensation method and device

Abstract

A Method and machine tool for compensating a wear of an electrode that machines a workpiece. The method includes selecting a current pocket from plural pockets of the workpiece; updating a wear compensation to be applied to the electrode for the current pocket based on wear compensation of a previous pocket, where the previous pocket is adjacent to the current pocket; and applying the updated wear compensation to the electrode for machining the current pocket.

Application File Date: 2010-09-14

Application Granted Date: 2015-04-07

Current Assignee: Nuovo Pignone SpA

Patent Number: US8806995B2

High-precision micro/nano-scale machining system

Abstract

A high precision micro/nanoscale machining system. A multi-axis movement machine provides relative movement along multiple axes between a workpiece and a tool holder. A cutting tool is disposed on a flexible cantilever held by the tool holder, the tool holder being movable to provide at least two of the axes to set the angle and distance of the cutting tool relative to the workpiece. A feedback control system uses measurement of deflection of the cantilever during cutting to maintain a desired cantilever deflection and hence a desired load on the cutting tool.

Application File Date: 2010-09-08

Application Granted Date: 2014-08-19

Current Assignee: University of Illinois

Patent Number: US20150209054A1

Cutting tool and corresponding assembly

Abstract

A one-piece cutting tool has a shank portion with a mounting end and a cutting end. The cutting end has a body portion and a substantially hemispherical portion. The cutting end further comprises a plurality of flutes, each flute helically extending adjacent to one another about the cutting end along a length from the body portion to the hemispherical portion. Each flute has a cutting edge divided into a first cutting edge section and a second cutting edge section, the first cutting edge section extending along the body portion and being substantially straight-edged or serrated, and the second cutting edge section extending along the hemispherical portion and being serrated along at least a part of the hemispherical portion. A cutting tool assembly is also provided.

Application File Date: 2014-01-29

Application Granted Date: 2018-07-03

Current Assignee: Pratt and Whitney Canada Corp

Key Market Segments:

By Type

  
Cast Iron Grade Carbide
  
Steel Grade Carbide

By Application

  
Milling
  
Engraving
  
Cutting
  
Drilling
  
Grooving


Key Market Players included in the report:


  
Apotex Inc.
  
ARCH Global Precision LLC
  
Cipla Ltd.
  
Garr Tool Company
  
Haimer GmbH.
  
Hartmetall-Werkzeugfabrik Paul Horn GmbH
  
Hobe GmbH
  
Ingersoll Cutting Tool Company
  
Izar Cutting Tools Sal
  
KYOCERA Corporation (SGS Tool Company)
  
Mitsubishi Materials Corporation
  
NS Tool Co. Ltd.
  
Performance Micro Tool Inc.
  
Rock River Tool Inc.
  
Sandvik AB (Sandvik Coromant)
  
Tunco Manufacturing


Below are the key development related to Micro Tool Market in 2020 and 2021.


July 2021: Kyocera SGS Precision Tools’ series M155 inverse shank drill. Kyocera SGS Precision Tools (KSPT) has expanded its’ Micro Tool portfolio. KSPTs commitment to providing superior quality round solid carbide cutting tools is unwavering, and these efforts are being taken one step further by introducing the M155 Inverse Shank Drill. Containing 109 tools in the portfolio, this series of inverse shank 2 flute drills are available in varying fractional and metric diameters that can satisfy a variety of machining applications tailored for small diameter drilling environments.The M155 drills are optimal for non-ferrous applications. Their 4-faceted point geometry offers centering assistance upon entry in the workpiece with a mirror surface finish that aids in chip flow. Ultimately, the tools allow for larger holes than are commonly possible in a micro spindle. Source

June 2021: Hyperion Materials & Technologies Acquires Italian-Based Carbide Product Manufacturer Sinter SudSpA. Hyperion Materials & Technologies, the world’s leading materials science company specializing in the development of advanced hard and superhard materials for a wide range of industries and applications, announced that it has agreed to acquire Sinter SudSpA. ItalyManufacturer of cemented carbide product bases. Source

January 2021: GWS Tool Group Acquires Taurus Tool & Engineering. GWS Tool Group has acquired Taurus Tool & Engineering. Taurus, based in Batavia, Illinois. It is the first acquisition in 2021 for GWS Tool Group, following three previous acquisitions in 2020. Taurus is a leading manufacturer of precision custom cutting tools, primarily in the categories of both HSS and carbide hole making and milling tools. The companys product capability includes complex HSS and carbide step tools for aerospace and automotive applications, custom thread-on modular tooling and combination tools for the elimination of multi-tool operations. The company features a 25,000 sq. ft. facility, rebuilt in February 2015 and outfitted with the latest CNC grinding and inspection equipment. Source 

June 2021: GWS Tool Group Announces Acquisition of Indexable Cutting Tools of Canada, Inc. The acquisition of Indexable strengthens the GWS offering with added capacity and capabilities in the insert tooling segment, as well as the complete vertical integration of ceramic blank production from powder. Their robust offering of ceramic inserts, including silicon nitride, white ceramic and whiskered ceramic are produced using patented microwave sintering technology. This technology will bolster GWS insert capability while providing supply chain cost-savings that will make our ceramic portfolio even more value-added to its customers. GWS Tool Group is pleased to announce it has acquired Indexable Cutting Tools, Inc. This is the third acquisition in 2021 for GWS Tool Group, and the first international acquisition by the US based manufacturer. Located in Welland, Ontario Canada and Edmonton, AB, Canada, Indexable is a technology leader in the manufacturing and distribution of ceramic, PCD and CBN inserts. For more than 50 years, mastery of insert production and precision cutting technology has provided manufacturers around the world with an edge in operational efficiency. The company supports an array of the worlds largest manufacturing companies with its products. From automotive and powertrain customers to commercial and defense aerospace manufacturers, Indexable has used its model of quality and flexibility to deliver what few others can. With six global patents surrounding their microwave sintering processes, Indexable can output ceramic inserts with ultra-fine-grained microstructures that yield increased hardness, toughness, and thermal stability versus traditional ceramic grades in the same categories. Their emphasis on quality, which is supported by their ISO9001:2015 certification, aligns perfectly with that of the ongoing quality signature GWS demands. With the addition of indexable, GWS further solidifies its position as the premier multi-disciplinary manufacturer of high-performance cutting tools in the marketplace. Source