Electronics Cutting Tools Market by Application Type (Semiconductor, Printed Circuit Board (PCB), and Others), Material Type (Cemented Carbide, Ceramic, and Others), Product Type (Inserts, Round Tools, and Tools & Tooling Systems), Machine Type (Milling, Turning, and Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, the UK, The Netherlands, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, Taiwan, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Electronics Cutting Tools Market by Application Type (Semiconductor, Printed Circuit Board (PCB), and Others), Material Type (Cemented Carbide, Ceramic, and Others), Product Type (Inserts, Round Tools, and Tools & Tooling Systems), Machine Type ...
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.
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.
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.
Application Trends
"Semiconductors segment accounted for the largest market share."
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 generatorin 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.
Material Trends
"Cemented carbidesegment accounted for the largest market share."
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.
Product Trends
"The round tools segment accounted for the largest market share."
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.
Machine Trends
"Milling machinessegment accounted for the largest market share."
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.
Regional Insights
"Asia-Pacificaccounted for the largest market share."
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.
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
Note: The above list does not necessarily include all the top players of the market.
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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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Electronics Cutting Tools Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
The electronics cutting tools market is segmented into the following categories:
By ApplicationType
Semiconductor
Printed Circuit Board
Others
By Material Type
Cemented Carbide
Ceramic
Others
By ProductType
Inserts
Round Tools
Tools & Tooling Systems
By Machine Type
Milling
Turning
Others
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)
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.
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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
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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 material’s 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.
