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    Electronics Cutting Tools Market Report

    Electronics Cutting Tools Market Report
    Report code - SR2809 Published On : Feb,2024 No. of Pages: 145
    Electronics Cutting Tools Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

    Market Highlights

    Electronics cutting tools are specialized tools that are used in the electronics industry for precision cutting, shaping, and machining of various materials, including metals, composites, and alloys used in electronic components. These tools are instrumental in creating precise and intricate cuts on components, such as semiconductors, printed circuit boards (PCBs), and other substrates essential in the fabrication of electronic products. These cutting tools come in various forms, including blades, drills, end mills, and specialized machinery equipped with cutting implements. They are engineered to meet the stringent demands of the electronics industry, which often require micro-scale precision, tight tolerances, and high-quality surface finishes for the production of electronic components and devices.

    Technological advancements in electronics continuously necessitate cutting-edge tools that offer accuracy and superior performance. Moreover, the proliferation of smartphones, tablets, wearables, and other consumer electronics fuels the demand for electronics cutting tools. These tools are crucial in creating the intricate circuitry and components required for these devices. Overall, the electronics cutting tools market is set to grow at a promising CAGR of 5.5% over the next six years to reach US$ 1.1 Billion in 2030.

    Recent Market JVs and Acquisitions: Over the past few years, there have been a fair number of strategic alliances, including M&As, JVs, etc., in the cutting tool industry across the globe. Some of them have been mentioned below:

    • In September 2023, Star Cutter Company acquired Tru Tech Systems Inc., from Resonetics, which offers its grinding solutions in the medical, aerospace, electronics, and other industries.
    • In August 2023, Ceratizit Group acquired 70% shares of Changzhou CW Toolmaker Inc, which specializes in the design, production, and sales of tungsten carbide cutting tools for the electronic industry, and a variety of industries including aviation, railways, as well as mold and die industries.

    Market Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Application-Type Analysis

    Semiconductor, Printed Circuit Board (PCB), and Others

    Semiconductor is likely to maintain its dominance in the market as well as to witness the fastest growth, in the coming years.

    Material-Type Analysis

    Cemented Carbide, Ceramic, and Others

    Cemented carbide is likely to maintain its supremacy in the market and is also projected to witness the fastest growth over the next six years.

    Product-Type Analysis

    Inserts, Round Tools, and Tools & Tooling Systems

    Round tools are anticipated to be the dominant as well as the fastest-growing product, in the years to come.

    Machine-Type Analysis

    Milling, Turning, and Others

    Milling machines are expected to be the dominant as well as the fastest-growing machine, during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    Asia-Pacific is expected to maintain its market dominance as well as exhibit the fastest growth, in the next six years.

     

    Based on the application type, the market is classified into semiconductor, printed circuit board (PCB), and others. Among these application types, semiconductors are likely to remain the chief demand generator in the market, during the forecast period. Rapid technological advancements and a continuous drive toward miniaturization and higher performance characterize the semiconductor industry. This necessitates highly specialized cutting tools capable of achieving intricate and precise cuts on semiconductor materials, such as silicon, compound semiconductors, and other substrates used in chip manufacturing.

    Based on the material type, the market is segmented into cemented carbide, ceramic, and others. Among these material types, cemented carbide is expected to maintain its dominance in the market as well as to witness the fastest growth over the next six years. Cemented carbide possesses exceptional hardness and wear resistance, making it ideal for precision cutting in electronic component manufacturing, where intricate designs and high precision are crucial. Furthermore, cemented carbide's durability enables longer tool life, reducing downtime for tool changes and enhancing overall productivity in the electronic component cutting operations. Its capability to withstand high temperatures and maintain cutting-edge sharpness contributes significantly to its widespread adoption in electronic cutting applications.

    Based on the product type, the market is segmented into inserts, round tools, and tools & tooling systems. The round tools segment is expected to remain the largest as well as the fastest-growing product type during the forecast period. Round tools, such as drills, end mills, and reamers, offer versatile and precise cutting capabilities that are essential for manufacturing processes across various electronic components. Furthermore, the increasing demand for smaller, more intricate electronic devices necessitates precision in manufacturing, driving the preference for round tools. These tools excel in creating intricate shapes and achieving high levels of accuracy, meeting the industry's needs for miniaturization.

    Based on the machine type, the market is segmented into milling, turning, and others. Milling machines are expected to remain the dominant segment of the market during the forecast period. Milling machines offer enhanced machining capabilities with multi-axis functionality, allowing for complex cuts and intricate detailing which is crucial in the production of electronic components. This versatility aligns well with the diverse and intricate nature of components found in modern electronics, supporting the demand for precision and miniaturization.

    Among regions, Asia-Pacific is projected to maintain its leading position in the market as well as to grow at the fastest pace in the foreseeable future. The region encompasses some of the world's largest electronics manufacturing hubs, including China, Japan, South Korea, and Taiwan, driving a significant demand for cutting tools used in the production of electronic components. The region is also driven by the presence of a large number of cutting tool manufacturers, KYOCERA Precision Tools, OSG Corporation, Sumitomo Electric Industries Ltd., and Zhuzhou Cemented Carbide Cutting Tools Co., Ltd.

    Key Players

    The electronics cutting tools market is populated by several local, regional, and global players. The major market players have an excellent product development capability and they compete on some of the governing factors including price, product offerings, quality, regional presence, etc. These players hold distinct capabilities in manufacturing cutting tools for electronic components. As a whole, the following are the key players in the global electronics cutting tools market:

    • Sandvik AB
    • OSG Corporation
    • KYOCERA Precision Tools
    • Kennametal Inc.
    • Zhuzhou Cemented Carbide Cutting Tools Co., Ltd.
    • Sumitomo Electric Industries, Ltd.
    • Guhring, Inc.
    • Ceratizit Group
    • ASIME Sdn Bhd

    Research Methodology

    This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s electronics cutting tools market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

    The electronics cutting tools market is segmented into the following categories. 

    Electronics Cutting Tools Market, by Application Type

    • Semiconductor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Printed Circuit Board (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Electronics Cutting Tools Market, by Material Type

    • Cemented Carbide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Ceramic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Electronics Cutting Tools Market, by Product Type

    • Inserts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Round Tools (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Tools & Tooling Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Electronics Cutting Tools Market, by Machine Type

    • Milling (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Turning (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Electronics Cutting Tools Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, The Netherlands, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, Taiwan, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions

    The electronics cutting tools market is estimated to grow at a CAGR of 5.5% in the coming six years, owing to increasing demand for precision and miniaturization in electronic components.

    Sandvik AB, OSG Corporation, KYOCERA Precision Tools, Kennametal Inc., Zhuzhou Cemented Carbide Cutting Tools Co., Ltd., Sumitomo Electric Industries, Ltd., Guhring, Inc., Ceratizit Group, and ASIME Sdn Bhd are the key players in the market. These players hold distinct capabilities in manufacturing cutting tools for electronic components.

    Asia-Pacific is estimated to be the dominant region in the market over the next six years, primarily driven by the presence of the world's largest electronics manufacturing hubs, China, Japan, South Korea, and Taiwan; driving significant demand for cutting tools used in the production of electronic components.

    Asia-Pacific is estimated to be the fastest-growing market for electronics cutting tools in the coming years. The key economies driving the regional market demand are China, Japan, Taiwan, and South Korea.

    Cemented carbide is expected to be dominant in the market in the coming years. The materials hardness and wear resistance make it an ideal choice for machining critical electronics parts and components. These tools also enable higher cutting speeds and feed rates, leading to increased machining productivity.