In the context of machining, a cutting tool 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, plaining and similar operations, and remove material by means of one cutting edge. Milling and drilling tools are often multipoint tools. Grinding 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.
Sandvik, Kennametal, Iscar, OSG and Mitsubishi are the leading metal-cutting tools manufacturers, Sandvik accounting for about 20 percent of the total market.
Europe is the main market with a 20% share, followed by North America with about 18%.

Market Analysis and Insights: Global Metal Cutting Tools Market
In 2020, the global Metal Cutting Tools market size was US$ 23730 million and it is expected to reach US$ 32950 million by the end of 2027, with a CAGR of 4.8% during 2021-2027.
Global Metal Cutting Tools Scope and Market Size
Metal Cutting Tools market is segmented by region, by country, company, type, application and by sales channels. Players, stakeholders, and other participants in the global Metal Cutting Tools market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.

Segment by Type, the Metal Cutting Tools market is segmented into
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others

Segment by Application, the Metal Cutting Tools market is segmented into
Machinery Industry
Automotive Industry
Aerospace Industry
Energy Industry

Regional and Country-level Analysis:
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

Competitive Landscape and Metal Cutting Tools Market Share Analysis
Metal Cutting Tools market competitive landscape provides details and data information by companies. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on sale and revenue by players for the period 2016-2021. Details included are company description, major business, Metal Cutting Tools product introduction, recent developments, Metal Cutting Tools sales by region, type, application and by sales channel.

The major companies include:
Sandvik
Kennametal
Iscar
OSG
Mitsubishi
Kyocera
Sumitomo
Mapal
Nachi-Fujikoshi
LMT
ZCCCT
YG-1
Shanghai Tool
Korloy
Union Tool
Tiangong
Guhring
Harbin No.1 Tool
Tivoly
Ceratizit
Hitachi
Feidadrills
Chengdu Chengliang
BIG Kaiser
Addison
Hanjiang
EST Tools
Xiamen Golden Erge
AHNO
Sandhog