Parting and Grooving Inserts Market size was valued at USD 1.2 Billion in 2024 and is forecasted to grow at a CAGR of 5.5% from 2026 to 2033, reaching USD 1.8 Billion by 2033.
The global Parting and Grooving Inserts market was valued at approximately USD 2.9 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. The growing demand for precision tools in various industries, such as automotive, aerospace, and manufacturing, is a significant driver of market growth. North America, particularly the United States, holds the largest market share, owing to the high adoption of advanced manufacturing technologies and a robust industrial base. Europe follows closely behind, with Germany and the United Kingdom being major contributors due to the strong presence of the automotive and manufacturing sectors. The Asia Pacific region is expected to witness the highest growth rate, with countries like China and India leading the way due to rapid industrialization and increased demand for efficient tooling solutions.
In terms of regional distribution, the North American Parting and Grooving Inserts market is expected to account for around 30% of the total market share in 2022, with a steady growth trajectory driven by ongoing technological advancements and robust industrial production. Europe, with its mature industrial landscape, is projected to maintain a significant market share of approximately 25% during the forecast period. Meanwhile, the Asia Pacific region is anticipated to experience the highest CAGR of around 6.2% from 2023 to 2030, owing to the rising demand for machining tools in emerging markets. Latin America and the Middle East & Africa are also expected to witness steady growth, with a notable increase in the adoption of advanced tooling solutions across key manufacturing sectors in these regions.
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Sandvik Coromant
Walter Tools
Tungaloy
ISCAR
Ingersoll
Milo Tools
Canela
Accu-cut
KORLOY
AIMS Industrial
TaeguTec
Ceratizit
Zhuzhou Chuangde Cemented Carbide
Maanshan Jinghua Mechanical Blade
Jiaxing Xinyida
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Parting and Grooving Inserts Market
Parting Inserts
Grooving Inserts
Cemented Carbide
High-Speed Steel
Coated Inserts
Ceramic
Uncoated
TiN (Titanium Nitride)
TiCN (Titanium Carbonitride)
TiAlN (Titanium Aluminum Nitride)
Others
Turning
Parting
Grooving
Threading
Aerospace
Automotive
Machinery & Equipment
Defense
Oil & Gas
Medical Devices
Electronics
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Parting and Grooving Inserts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Parting and Grooving Inserts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Parting and Grooving Inserts Market, By Type
6. Global Parting and Grooving Inserts Market, By Application
7. Global Parting and Grooving Inserts Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Parting and Grooving Inserts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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