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The metal cutting tools market size is forecast to increase by USD 7.26 billion at a CAGR of 5.86% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for metal parts in major industries such as automotive, engine manufacturing, and body parts production. This trend is driven by the continuous advancements in manufacturing technologies, including additive manufacturing, which allow for more complex and precise metal components. High-performance tools, such as ceramics, polycrystalline diamond (PCD), high-speed steel (HSS), and carbide, are increasingly being used for milling, turning, drilling, and other metalworking processes. The market is, however, facing challenges from substitute products, including alternative materials and processes, which offer cost savings and improved performance in certain applications. Overall, the market is expected to remain competitive and dynamic, with ongoing innovation and technological advancements shaping its future.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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