Carbide tools market projected to reach $17.3 billion by 2032, driven by automation and robotics.

From GlobeNewswire: 2025-01-08 07:00:00

The carbide tools market is projected to reach USD 17.3 billion by 2032, driven by automation and robotics in manufacturing. IoT integration enhances efficiency, while eco-friendly practices are adopted for sustainability. Revenue from carbide inserts segment in 2023 was USD 5.6 billion, with tungsten carbide’s superior properties contributing to market growth.

Carbide tools market’s turning segment dominated in 2023, with a 44% share and a 4.1% CAGR expected through 2032. Industries like aerospace and medical manufacturing value carbide tools for their precision and durability. The U.S. held a 78% market share in 2023 due to its focus on innovation for specialized industry needs.

Global Market Insights Inc. offers research reports on the carbide tools market, covering methodology, executive summary, industry insights, and more. The growth potential analysis highlights factors like high-precision machining demand and rising industrial activities. The company provides industry reports for various sectors like construction equipment, boron carbide, and calcium carbide markets.



Read more at GlobeNewswire: Carbide Tools Market to exceed $17.3 Bn by 2032, Says