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    US Cutting Tools Market

    ID: MRFR/IA - E/11672-HCR
    100 Pages
    MRFR Team
    September 2025

    US Cutting Tools Market Research Report Information By Tool Type (Index Able Inserts and Solid Round Tools), By Material Type (Cemented Carbide, High-Speed Steel, Ceramics, Stainless Steel, Polycrystalline Diamond, Cubic Boron Nitride, and Exotic materials), By Application (Automotive, Aerospace & Defense, Construction, Electronics, Oil & Gas, Power Generation, Wood, Die & Mold and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

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    US Cutting Tools Market Infographic
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    Summary Infographic

    US Cutting Tools Market Summary

    The US Cutting Tools market is projected to grow from 25 USD billion in 2024 to 38 USD billion by 2035.

    Key Market Trends & Highlights

    US Cutting Tools Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate of 3.88 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 38 USD billion, indicating robust growth potential.
    • In 2024, the market is valued at 25 USD billion, reflecting a strong foundation for future expansion.
    • Growing adoption of advanced manufacturing technologies due to increased automation is a major market driver.

    Market Size & Forecast

    2024 Market Size 25 (USD Billion)
    2035 Market Size 38 (USD Billion)
    CAGR (2025 - 2035) 3.88%

    Major Players

    Apple Inc (US), Microsoft Corp (US), Amazon.com Inc (US), Alphabet Inc (US), Berkshire Hathaway Inc (US), Meta Platforms Inc (US), Tesla Inc (US), Johnson & Johnson (US), Visa Inc (US), Procter & Gamble Co (US)

    Key Companies in the US Cutting Tools Market market include

    Report Scope

    Report Attribute/Metric Details
    Market Size 2022 USD 5.9 Billion
    Market Size 2023 USD 6.29 Billion
    Market Size 2032 USD 10.52 Billion
    Compound Annual Growth Rate (CAGR) 6.64% (2023-2032)
    Base Year 2022
    Market Forecast Period 2023-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Format Type, Application, Process, and Region
    Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
    Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Nachi-Fujikoshi Corp (Japan), Voestalpine AG (Austria), Sandvik (Sweden), Baosteel Group (China), Samuel Son & Co (Canada), Hitachi Metal (Japan), Eramet SA (France), Schmiedewerke Gröditz (Germany), Universal Stainless (US), QiLu Special Steel Co. Ltd. (China), Hudson Tool Steel Corporation (US), GERDAU S.A. (Brazil), Pennsylvania Steel Company (US).
    Key Market Opportunities Broader scope in developing nations.
    Key Market Dynamics The growing automotive industry will accelerate the market.

    FAQs

    What is the expected market size of the US Cutting Tools Market in 2024?

    The US Cutting Tools Market is expected to be valued at 13250.16 USD Billion in 2024.

    What will be the projected market size of the US Cutting Tools Market in 2035?

    By 2035, the US Cutting Tools Market is anticipated to reach a value of 24128.15 USD Billion.

    What is the expected CAGR for the US Cutting Tools Market from 2025 to 2035?

    The market is projected to grow at a CAGR of 5.6% during the period from 2025 to 2035.

    Which segment is expected to lead the market by tool type in 2024?

    The Index Able Inserts segment is expected to be valued at 5680.0 USD Billion in 2024.

    What is the projected market size for Solid Round Tools by 2035?

    The Solid Round Tools segment is projected to be valued at 13628.15 USD Billion by 2035.

    Who are the key players in the US Cutting Tools Market?

    Major players include Ingersoll Cutting Tools, Sandvik, Seco Tools, Carbide USA, and Kennametal.

    What are the key applications for cutting tools in the market?

    Cutting tools are primarily used in manufacturing industries, including automotive, aerospace, and metalworking.

    How does the current global scenario impact the US Cutting Tools Market?

    The current global scenario could influence supply chains and demand for cutting tools within the US market.

    What opportunities are emerging in the US Cutting Tools Market?

    There are emerging opportunities in innovative cutting tool technology and increased automation in manufacturing.

    What challenges does the US Cutting Tools Market face?

    The market faces challenges such as fluctuating raw material costs and economic fluctuations affecting demand.

    Report Infographic
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