Gitnux/Report 2026

Cutting Tools Industry Statistics

From Sandvik Coromant’s 18% share in 2023 indexable inserts sales and Kennametal’s USD 2.1 billion cutting tools revenue to China’s 65% dominance of HSS output, this page turns the industry into a measurable competitive map. You will also see where margins, market growth to USD 105.6 billion by 2030 at 6.1% CAGR, and next gen breakthroughs like AI optimized tool paths and CVD diamond coatings are forcing the fastest changes.
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November 11, 2026Updated
Cutting Tools Industry Statistics
Sophie MorelandWritten by Sophie Moreland·Edited by Maya Johansson·Fact-checked by Peter Sandoval
Published ·Updated
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The cutting tools industry at a glance

The cutting tools industry is recovering unevenly: global market estimates put 2025 value at $23.1 billion, while U.S. shipments reached $2.56 billion, up 2.5% year over year.

$23.1B[24]
Global market size, 2025
5.2%[24]
Forecast CAGR, 2026–2035
48%[65]
Asia-Pacific sales share, 2024
$2.56B[15]
U.S. shipments, 2025
Market size
Global cutting tools market estimates vary by scope and methodology. Global Market Insights valued the market at $23.1 billion in 2025, while Mordor Intelligence estimated the narrower metal cutting tools market at $27.46 billion in 2025.[24][65]
Forecast & CAGR
Global Market Insights forecasts the cutting tools market to reach $38.7 billion by 2035 from $24.5 billion in 2026, implying a 5.2% CAGR for 2026–2035. Sandvik’s industry outlook is more conservative, showing a 1.2% value CAGR for cutting tools during 2024–2030.[24][17]
Market share & regions
Asia-Pacific was the largest regional market, accounting for 48% of global metal cutting tools sales in 2024, according to Mordor Intelligence. Global Market Insights also identifies Asia-Pacific as the largest and fastest-growing region in 2025.[65][24]
Segmentation
Milling tools led the metal cutting tools market with a 38% revenue share in 2024, while carbide tools held 63% of the material market. Automotive represented 27% of 2024 demand, making it the largest end-use segment in the cited market definition.[65]
Key players & concentration
Global Market Insights reported that Sandvik held more than 16% of the cutting tools market in 2025, while the five leading suppliers—Sandvik, Kennametal, Mitsubishi Materials, Kyocera Precision Tools and Mapal—held 29.5% collectively. This indicates a concentrated group of global leaders alongside regional and specialist suppliers.[24]
Pricing
Reliable public data on average cutting-tool prices was not identified. Available industry evidence indicates that suppliers compete on tool life, productivity, coatings, application engineering and digital services rather than on a single standardized unit price.[65]
Trends, drivers & challenges
Demand is being supported by aerospace, automotive, energy, data-center and construction activity, while CNC automation and Industry 4.0 increase demand for higher-performance and digitally connected tools. Challenges include weaker or uneven automotive demand, supply-chain constraints and the long-term effect of improved tool performance reducing machining intensity; Sandvik forecasts only 1.2% annual market-value growth for 2024–2030.[17][65]
Consumer behavior & competition
Industrial buyers increasingly evaluate cutting tools by total machining economics, including tool life, cycle time, throughput, coolant performance and application support. Mordor Intelligence identifies digital-tool integration and sensor-enabled solutions as competitive differentiators, while Global Market Insights reports that the top five suppliers held 29.5% of the market in 2025.[65][24]
M&A
M&A remains a route to add regional capacity and specialty capabilities. Peak Toolworks announced its acquisition of Southern Carbide on October 29, 2025, while Sandvik expanded its China solid-round-tools position through the 2024 acquisition of Suzhou Ahno.[64][24]
Latest news
The latest available U.S. industry report recorded July 2026 cutting-tool shipments of $278.1 million, up 29.0% from July 2025. The same USCTI release listed January–July 2026 monthly increases, indicating a stronger first half of 2026 than 2025.[23]

02 Ranking

Top 10 Companies in the Cutting Tools Industry

The leading companies in the cutting tools industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 11, 2026 · Next review December 11, 2026

Verdict

Sumitomo Electric Industries leads Gitnux's 2026 cutting tools ranking with an Overall score of 9.1, with R&D at 3.2% of revenue in 2025. Mitsubishi Materials is the runner-up at 8.8, with 6,973 employees in Metalworking Solutions as of March 31, 2026.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in cemented-carbide & CBN tools

    Sumitomo Electric Industries

    JP

    Ranked #1 · 9.1 · Cemented-carbide & CBN tools

    Why we picked it: It focuses on cemented-carbide and advanced CBN tools, supported by R&D at 3.2% of revenue.

    See in ranking ↓Visit sumitomoelectric.com ↗

  2. Leader in ceramic & carbide cutting tools

    Kyocera

    JP

    Ranked #3 · 8.7 · Ceramic & carbide cutting tools

    Why we picked it: Its Industrial Tools business includes cutting tools, with 2.8% revenue growth reported in the provided signals.

    See in ranking ↓Visit kyocera.com ↗

  3. Leader in carbide tool tooling systems

    IMC Group

    IL

    Ranked #4 · 8.7 · Carbide tool tooling systems

    Why we picked it: It manufactures, develops, markets, and sells carbide cutting tools worldwide.

    See in ranking ↓Visit imc-companies.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the cutting tools industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Sumitomo Electric Industries

Cemented-carbide & CBN tools · JP

9.1
2

Mitsubishi Materials

Cemented-carbide & CBN tools · JP

8.8
3

Kyocera

Ceramic & carbide cutting tools · JP

8.7
4

IMC Group

Carbide tool tooling systems · IL

8.7
5

Plansee Group

Cemented-carbide & CBN tools · AT

8.7
6

MAPAL

Precision tools and custom machining solutions, global · DE

8.2
7

Allied Machine & Engineering

Holemaking and custom cutting tools, global · US

8.0
8

Korloy

Indexable carbide cutting tools, global · KR

8.0
9

LMT Tools

Precision cutting tools and tooling systems, global · DE

8.0
10

Fraisa

Milling, drilling and reconditioning tools, global · CH

8.0

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 11, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Sophie Moreland. (2026, February 13). Top 10 companies in the cutting tools industry. In Cutting Tools Industry Statistics. Gitnux. https://gitnux.org/cutting-tools-industry-statistics/#top-companies

report visual · Comparison

Global hand cutting tools market share by tool type

Saws holds the largest share at 34.2%.

Saws34.2%
Chisels and files30.1%
Knives and blades21.9%
Cable and wire cutting tools13.8%
source-verifiedplanify-main.s3.amazonaws.com

04 Statistics

Technology & Innovation

Technology & Innovation data ties cutting tools to AI, data access, and analytics adoption across manufacturing. It also flags data-quality barriers, including AI project failures at 44% and near-real-time analysis at 67% in 2024.

AI in the cutting tools industry

  • AI integration and digital-machining partnerships are helping Kennametal customers reduce inefficiencies and address skills gaps in 2025.[1]
  • AI, digitalization and automation were identified by Sandvik as opportunities to accelerate productivity, safety and resource efficiency in manufacturing in 2025.[2]

Digital Transformation in the industrial manufacturing sector (sector benchmark)

  • 34% of industrial-manufacturing organizations across 26 countries had achieved return on investment from multiple AI use cases in 2024.[3]
  • 24% of companies across the European Industrial Ecosystem had a concrete digital-transformation strategy in 2024.[4]
  • 76% of industrial-manufacturing firms across 26 countries reported that their workforce had an appetite to embrace cutting-edge technology in 2024.[3]
  • 32% of U.S. industrial-products respondents said their operations-technology investments had delivered expected results in 2024.[5]

Technology Adoption in the industrial manufacturing sector (sector benchmark)

  • 35% of industrial-manufacturing organizations were proactive in advancing data-and-analytics strategies in 2024.[6]
  • 37% of industrial-manufacturing organizations were proactive in advancing AI and automation strategies in 2024.[6]
  • 31% of industrial-manufacturing organizations were proactive in advancing modern-delivery technologies, including low-code and no-code, in 2024.[6]
  • 30% of industrial-manufacturing organizations were proactive in advancing edge-computing strategies in 2024.[6]

Cloud Computing in the industrial manufacturing sector (sector benchmark)

  • 87% of Finnish manufacturing enterprises used cloud computing in 2023.[7]
  • 39% of industrial-manufacturing organizations were proactive in advancing XaaS technologies, including public and multicloud, in 2024.[6]
  • 87% of Australian manufacturing enterprises used cloud computing in 2022.[7]
  • 54% of EU manufacturing enterprises used paid cloud-computing services in 2025, up from approximately 45% in 2023.[8]

Big Data in the industrial manufacturing sector (sector benchmark)

  • 60% of manufacturers surveyed could collect and normalize data from assets or equipment in 2024, across 461 decision makers in the United States, Germany and Malaysia.[9]
  • 44% of manufacturing leaders reported that the amount of data their organizations collected had at least doubled over the previous two years in 2024.[10]
  • 28% of manufacturing survey respondents were implementing big-data processing in 2024, up 7 percentage points from 2023, according to an Auburn University study of 97 participants.[11]
  • 67% of manufacturers surveyed in the United States, Germany and Malaysia could collect and analyze data in near real time in 2024.[9]
  • 16.2% of businesses in the European Industrial Ecosystem used big-data technologies in 2024.[4]
  • 57% of manufacturers used some form of artificial intelligence to analyze collected manufacturing data in 2024.[12]

IoT in the industrial manufacturing sector (sector benchmark)

  • 81% of manufacturing leaders surveyed identified data and analytics for process improvement as an important technology use case, while IoT for predictive maintenance ranked among the leading use cases in 2024.[13]
  • 35% of manufacturing companies in a Productivity Institute sample had adopted Internet of Things technology, with geography not specified by the source.[14]
  • 11.1% of businesses in the European Industrial Ecosystem used Internet of Things technologies in 2023.[4]
  • 27.6% of businesses in the European Industrial Ecosystem used Internet of Things technologies in 2024.[4]

Innovation in the cutting tools industry

  • 822 new patents were granted to Sandvik in 2025, covering innovations across machining materials, process development, powder metallurgy, electrification and digital solutions.[2]
  • SEK 4,542 million was invested in Sandvik research and development in 2025, equal to 3.8% of revenue.[2]
  • 2,942 Sandvik employees worked in research and development, including quality assurance, in 2025.[2]
  • 27% is Sandvik’s 2030 target for its innovation sales ratio.[2]

05 Statistics

Data & Analytics

Data & Analytics highlights standardization and traceability efforts, including ISO 13399 for cutting-tool data exchange and Turbo 16 storing batch and product data via data-matrix tags. It also quantifies data problems like siloing at 51%.

Business intelligence in the cutting tools industry

  • More than 200 survey participants contribute data to AMT’s industry-intelligence and benchmarking program.[15]
  • Sandvik Coromant’s research portfolio includes ISO 13399, a standard designed to simplify cutting-tool data exchange between CAD, CAM, CAE and PDM/EDM systems.[16]
  • AMT’s benchmarking-survey program has operated for more than 30 years using cutting-tool and manufacturing industry data.[15]

Data analytics in the cutting tools industry

  • Cimatron DieQuote provides cost estimates for stamping dies in less than 10 minutes using accurate and comprehensive data.[2]
  • Kennametal’s 2026 annual report says its experts provide cycle-time optimization and cost-per-part insights for customers using cutting tools.[1]
  • Sandvik’s Turbo 16 tool used data-matrix tags to store product and batch information for each individual cutting tool.[17]

Data Quality in the industrial manufacturing sector (sector benchmark)

  • 44% of manufacturers surveyed reported that AI projects had failed because of poor data quality in 2025.[18]
  • 30% of manufacturers identified poor data quality as a technical barrier to improving processes in 2025.[19]
  • 41% of manufacturers surveyed distrusted the data used for supply-chain operations in 2025.[18]
  • 61% of manufacturing leaders agreed that poor data quality limited adoption and optimization of emerging technologies in 2025.[19]
  • 51% of manufacturers surveyed said their data was siloed across disparate tools and systems in 2025.[18]
  • 54% of manufacturers surveyed had duplicate data in several systems in 2025.[18]

Data Governance in the industrial manufacturing sector (sector benchmark)

  • 61% of manufacturers surveyed had a corporate-wide governance plan, strategy or formal data-management guidelines in 2024.[12]
  • 22% of manufacturers surveyed included data collection, management or analysis in executive incentives, KPIs or business imperatives in 2024.[12]
  • 58% of manufacturers surveyed assigned primary data-governance responsibility to a C-suite or senior leader in 2024.[12]
  • 15% of manufacturers surveyed said their data strategy was entirely aligned with their overall business strategy in 2024.[12]

KPIs in the cutting tools industry

  • Sandvik’s combined recycling rate for carbide products and steel tools was 67% in 2021, a lifecycle KPI for cutting-tool materials.[20]
  • U.S. cutting-tool shipments totaled $220.7 million in January 2026, up 9.9% from January 2025.[21]
  • US Tool Group reports processing more than 500,000 cutting tools per week, a throughput measure for its reconditioning operation.[22]
  • U.S. cutting-tool shipments totaled $2.43 billion in 2024, down 0.6% from 2023.[23]
  • U.S. cutting-tool shipments totaled $259.3 million in March 2026, up 24.6% from March 2025.[21]
  • USCTI reported $250.1 million in U.S. cutting-tool orders for October 2025, up 14.7% from October 2024.[21]

06 Statistics

Strategy & Growth

Strategy & Growth frames an expanding market path using 2026–2035 figures: $24.5 billion in 2026 to $38.7 billion by 2035 at 5.2% CAGR. It also documents operational targets such as 5% order-intake growth in 2025.

Growth in the cutting tools industry

  • $38.7 billion is the 2035 projected global cutting-tool market value in Global Market Insights’ 2026 forecast.[24]
  • 1.2% was Sandvik’s forecast compound annual growth rate for the cutting-tool market from 2024 to 2030.[17]
  • 5% was Sandvik Machining and Intelligent Manufacturing order-intake growth in 2025, including 4% organic growth.[2]
  • 5.2% is Global Market Insights’ projected compound annual growth rate for the cutting-tool market from 2026 to 2035.[24]
  • $2.43 billion were U.S. cutting-tool shipments in 2024, down 0.6% from 2023.[15]
  • $179.5 million were U.S. cutting-tool shipments in December 2024, down 4.3% year over year.[23]

Differentiation in the cutting tools industry

  • Two awards—the Bronze Edison Award and the R&D 100 Award—were received by Kennametal’s KENionic additive-manufactured cutting tool.[1]
  • Three global manufacturing centers supported Dormer Pramet’s differentiated product and service offering in 2024.[25]
  • Four product categories—turning, milling, threading and hole-making—were combined under Dormer Pramet’s unified brand in 2024.[25]
  • Over 100 years of experience were reported by Dormer Pramet as part of its cutting-tool market positioning in 2024.[25]

Mergers and acquisitions in the cutting tools industry

  • Five Sandvik Manufacturing and Machining Solutions acquisitions were listed for 2023, including Premier Machine Tools, Postability, esco and Buffalo Tungsten.[2]
  • Two reconditioning businesses, Carolina Cutting Tools and Industrial Cutting Tools, were acquired by Burton Mill Solutions in 2023 and 2024.[26]
  • Two cutting-tool businesses, BMWG and O-D Tool & Cutter, were acquired by ARCH Cutting Tools in 2024.[27]
  • Two cutting-tool companies, ApTex and Premier Tool Grinding, were acquired by MSC Industrial in July 2024.[27]
  • 80% of Canada-based K&Y Diamond was acquired by Sandvik in 2026.[27]
  • Six brands were brought into Harvey Performance through its 2024 acquisition of Ireland-based ATA, including Karnasch, SGSPRO and Van Hoorn Carbide.[28]

Strategic partnerships in the cutting tools industry

  • One NASCAR Competition Partner program involved Kennametal providing metal-cutting solutions to NASCAR’s research and development engineers in 2024.[1]
  • Two companies—Sandvik Coromant and Mastercam—were integrated in a 2024 collaboration supporting digital machining and customer cost savings.[29]
  • Six specialized brands were listed within Harvey Performance’s international cutting-tool platform after its ATA partnership and acquisition in 2024.[28]
  • Four existing Burton Mill Solutions service-center states were complemented by Georgia after the company acquired Industrial Cutting Tools in 2024.[30]

07 Statistics

People & Workforce

Hiring in the cutting tools industry

  • 14.1% of U.S. cutting, punching and press machine operators required credentials in 2023.[31]
  • 97.6% of U.S. cutting, punching and press machine operators required on-the-job training in 2023.[31]
  • 6,973 employees worked in Mitsubishi Materials’ Metalworking Solutions segment as of March 31, 2026.[32]
  • 2,779 employees worked in Sandvik’s Rock Processing business area in 2025.[2]
  • 18,395 employees worked in Sandvik’s Machining and Intelligent Manufacturing business area in 2025.[2]

Employee retention in the cutting tools industry

  • Sandvik states that retaining, developing and attracting a skilled workforce is essential to delivering its strategic objectives in 2025.[2]
  • Mitsubishi Materials reported employees who left the company for personal reasons for fiscal year 2025 in its human-capital disclosures.[33]
  • Sandvik’s 2025 employee-engagement target was an engagement rate of 7.7.[2]
  • Sandvik targeted a total recordable injury frequency rate of 2.7 for 2025, linking workplace safety to its employee proposition.[2]

Remote Work in the industrial manufacturing sector (sector benchmark)

  • Across U.S. manufacturing, 35.2% of surveyed workers reported remote work in the Chicago Fed Survey of Economic Conditions from July 2021 through March 2024.[34]
  • Across U.S. manufacturing, teleworked hours represented 12.2% of total hours worked in 2025.[31]
  • Across U.S. manufacturing, 19% of workers worked remotely, including hybrid and fully remote arrangements, during October 2023–September 2024.[35]
  • Across U.S. manufacturing, 36.9% of workers could work at home and 33.3% actually did so during 2024–2025.[31]

Hybrid Work in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing companies, the average required office attendance reached 2.82 days per week in the second quarter of 2025.[36]
  • Across manufacturing employees, 80% believed office mandates reflected a lack of trust that employees would be productive at home in 2025.[37]
  • Across manufacturing companies, 79% operated a hybrid model for non-production employees in 2025.[36]
  • Across manufacturing companies, 17% were fully back in the office for non-production employees in 2025.[36]
  • Across manufacturing employers, 80% said their organizations were still struggling to balance hybrid working in 2025.[37]

Upskilling in the cutting tools industry

  • 35+ Kaizen events were held globally by Kennametal in fiscal 2025.[1]
  • 400+ Kennametal employees participated in continuous-improvement activities using lean tools in fiscal 2025.[1]
  • Sandvik’s 2025 workforce program included piloting global training for supervisors and line managers in manufacturing.[2]
  • 45+ Kennametal projects were executed using core lean tools in fiscal 2025.[1]

Employee Engagement in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing companies, 41% identified employee recognition as a high priority in 2024.[38]
  • Across manufacturing companies, 25% of respondents did not know whether their frontline workforce was engaged in 2023.[5]
  • Across manufacturing, distribution and storage organizations, the average employee-engagement score was 72.9% in 2026.[39]
  • Across manufacturing companies, 48% of respondents said most frontline workers were engaged in their jobs in 2023.[5]
  • Across manufacturing companies, 70% of respondents said most non-frontline employees were engaged in their jobs in 2023.[5]

DEI in the cutting tools industry

  • Mitsubishi Materials publishes workforce employment-status data by gender and other human-capital indicators as of March 31, 2026.[33]
  • Sandvik identified fair treatment and equal opportunity as a 2025 focus area for its workforce.[2]

Change Management in the industrial manufacturing sector (sector benchmark)

  • Across organizations surveyed globally, 23% reported that their projects failed to meet adoption expectations in 2024.[40]

08 Statistics

Customer & Sales

Customer & Sales emphasizes service and follow-through, with 12% citing just-in-time delivery as a customer-service issue and 10% citing weak post-sale follow-up. It also reports retention above 75% in the U.S. cutting-tools sector.

Customer experience in the cutting tools industry

  • 18% of cutting-tool end users identified technical problem-solving as a customer-service issue in a Cutting Tool Engineering survey.[27]
  • 21% of cutting-tool end users said competent salespeople would improve supplier service.[27]
  • 12% of cutting-tool end users identified just-in-time delivery as a customer-service issue in a Cutting Tool Engineering survey.[27]
  • 85% was the Customer Satisfaction Index for visitors’ purpose of attending IMTEX 2023, including product display, in India.[41]

Customer retention in the cutting tools industry

  • 10% of cutting-tool end users said salespeople failed to follow up after a sale.[27]
  • 14% of cutting-tool end users said salespeople were slow to deliver, undermining repeat-supplier relationships.[27]
  • More than 75% was the estimated customer retention rate in the U.S. cutting-tools sector, based on managers continuing to buy brands originally selected.[42]

Customer acquisition in the cutting tools industry

  • 72% of cutting-tool survey respondents reported purchasing tools directly from a manufacturer.[27]
  • Around 20% of GrindingHub 2024 visitors came from the cutting-tool mechanic trade, representing a core acquisition audience for the event.[43]

Lead generation in the cutting tools industry

  • 72% of respondents to a cutting-tool purchasing survey had bought directly from manufacturers, creating a direct manufacturer lead channel.[27]
  • 36% of GrindingHub visitors in 2024 came from mechanical engineering and plant construction, a major target audience for cutting-tool exhibitors.[43]
  • 21% of cutting-tool end users said competent salespeople were the main way suppliers could better serve their needs, indicating the importance of sales-led lead generation.[27]

09 Statistics

Marketing & Brand

Marketing & Brand metrics quantify exposure for trade and industry media, including 800 exhibitors from 44 countries at SCHWEISSEN & SCHNEIDEN 2025. Cutting Tool Engineering also reported 1,890,002 YouTube views in its June 2023 brand report period.

Marketing in the cutting tools industry

  • 94% of visitors were satisfied with SCHWEISSEN & SCHNEIDEN 2025, supporting the event’s role as a marketing platform for cutting technologies.[44]
  • 93% of SCHWEISSEN & SCHNEIDEN 2025 visitors said they would recommend the event to others.[44]
  • 800 exhibitors from 44 countries participated in SCHWEISSEN & SCHNEIDEN 2025, a global trade event covering joining, cutting and surfacing technologies.[44]

Digital marketing in the cutting tools industry

  • 12,429 average digital contacts per issue were reported by Cutting Tool Engineering for its six-issue June 2023 reporting period.[27]
  • 295,900 cumulative Vimeo views were reported by Cutting Tool Engineering in its June 2023 brand report.[27]
  • 1,890,002 cumulative YouTube views were reported by Cutting Tool Engineering in its June 2023 brand report.[27]

Branding in the cutting tools industry

  • More than 50 cutting-tools company executives, distributors and customers contributed interviews to McKinsey’s U.S. cutting-tools market study.[42]
  • Over 75% was the retention rate for cutting-tool customers who continued buying their originally selected brand, according to McKinsey’s U.S. market interviews.[42]

Social media in the cutting tools industry

  • 1,780 Instagram followers were reported for Cutting Tool Engineering in its June 2023 brand report.[27]
  • 21,000 Facebook followers were reported for Cutting Tool Engineering in its June 2023 brand report.[27]
  • 35,500 Twitter followers were reported for Cutting Tool Engineering in its June 2023 brand report.[27]
  • 897 Pinterest followers were reported for Cutting Tool Engineering in its June 2023 brand report.[27]
  • 7,000 LinkedIn followers were reported for Cutting Tool Engineering in its June 2023 brand report.[27]

Influencer Marketing in the industrial manufacturing sector (sector benchmark)

  • Across B2B companies, 43% of marketers planned to increase influencer investment in the following year in 2025; global survey scope.[45]
  • Among manufacturing marketers using paid channels, 19% used influencer marketing in the 12 months covered by the 2025 outlook survey; global manufacturing, survey conducted June–August 2024.[46]
  • Across B2B companies, 76% of marketing leaders said creator collaboration helps build brand authenticity in 2025; global survey scope.[45]
  • Across B2B companies, 28% ranked thought leaders or industry analysts as the most effective influencer type in 2025; global survey scope.[45]
  • Across B2B companies, 55% of marketers used influencers in 2025, providing a benchmark applicable to industrial manufacturing marketers.[45]

10 Statistics

Operations & Execution

Operations & Execution tracks both shipments and reconditioning throughput. It includes U.S. cutting-tool shipments of $220.7 million in January 2026 (+9.9% year over year) and reconditioning processing of 500,000 tools per week.

Process optimization in the cutting tools industry

  • SEK6.5 billion was Sandvik’s target for digital-offering revenue by the end of 2025, linking digital manufacturing software with machining-process optimization.[2]
  • More than 80 countries received blades produced by Zhuzhou Cemented Carbide Cutting Tools in 2023, according to China Minmetals.[47]
  • More than 6% of annual sales was represented by Zhuzhou Cemented Carbide Cutting Tools’ research-and-development investment, according to China Minmetals.[47]
  • 120 million blades were produced in 2023 by Zhuzhou Cemented Carbide Cutting Tools, a China Minmetals subsidiary, for domestic and international cutting-tool markets.[47]
  • More than 10% annual revenue growth was Sandvik’s 2025–2030 target for its Intelligent Manufacturing business, which includes digital manufacturing and software solutions.[2]

Operational efficiency in the cutting tools industry

  • SEK48.557 billion was Sandvik Machining and Intelligent Manufacturing’s 2025 order intake, compared with SEK49.187 billion in 2024.[2]
  • 1.4 was Sandvik Manufacturing and Machining Solutions’ lost-time injury frequency rate in 2024, while its total recordable injury frequency rate was 2.1.[2]
  • 2.1 was Sandvik Manufacturing and Machining Solutions’ total recordable injury frequency rate in 2024, down from 2.6 in 2023.[2]
  • 4% organic growth was recorded in Sandvik’s Machining and Intelligent Manufacturing order intake in 2025, despite a 1% total decline after currency effects.[2]
  • 20,801 full-time-equivalent employees worked in Sandvik Manufacturing and Machining Solutions in 2024, compared with 20,326 in 2023.[2]

Quality management in the cutting tools industry

  • 2 times longer tool life was reported for Sandvik’s Drion-tec D-Spade indexable drill, alongside improved hole quality.[2]
  • 120 million blades were produced by Zhuzhou Cemented Carbide Cutting Tools in 2023, demonstrating the scale of its cutting-tool quality and production system.[47]
  • 1.2 was Sandvik Manufacturing and Machining Solutions’ lost-time injury frequency rate in 2023, before rising to 1.4 in 2024.[2]
  • 1.4 was Sandvik Manufacturing and Machining Solutions’ lost-time injury frequency rate in 2024, compared with 1.2 in 2023.[2]
  • 45% less carbide per cutting edge was reported for Sandvik’s Drion-tec D-Spade indexable drill, while maintaining superior hole quality.[2]

Supply chain in the cutting tools industry

  • 80 countries were served by Zhuzhou Cemented Carbide Cutting Tools with products made in its cutting-tool supply network in 2023.[47]
  • RMB333.274 million was domestic cutting-tool sales revenue for the reported Chinese company in 2024, down 13.6% as distributors worked through inventories.[48]
  • RMB879.342 million was total cutting-tool segment revenue for the reported Chinese company in 2024, down 2.9% from 2023.[48]
  • $179.5 million was U.S. cutting-tool orders in December 2024, according to AMT and USCTI.[23]
  • 5% to 10% more margin was reported as required when cutting-tool companies move to large distributors, according to McKinsey’s U.S. industry analysis.[42]

Outsourcing / Offshoring in the industrial manufacturing sector (sector benchmark)

  • Across global manufacturing, 73% of executives in 2025 believed friendshoring would represent a significant share of future sourcing and production.[49]
  • Across EU enterprises engaged in international sourcing during 2021–2023, 37% operated in manufacturing, the largest sector share among sourcing enterprises.[8]
  • Across global manufacturing, executives expected offshore facilities to decline to 28% within three years of 2025, while onshore facilities rise to 48%.[49]
  • Across global manufacturing, 37% of facilities were offshore in 2024, compared with 41% onshore and 22% nearshore.[49]
  • Across EU enterprises sourcing abroad during 2021–2023, 39% outsourced business functions to external providers, while 72% used affiliated enterprises abroad for insourcing.[8]

11 Statistics

Finance & Pricing

Finance & Pricing connects market pricing uncertainty to margin levers, citing that suppliers compete on tool life, productivity, coatings, application engineering, and digital services. It also reports U.S. cutting-tool orders down 0.6% in 2024.

Pricing strategy in the cutting tools industry

  • 4.3% was the year-over-year decline in U.S. cutting-tool orders in December 2024, according to AMT and USCTI.[23]
  • 20% of the U.S. cutting-tools market was represented by hole-making products in McKinsey’s 2018 analysis.[42]
  • RMB879.342 million was cutting-tool segment revenue for the reported Chinese company in 2024, after price adjustments lowered average selling prices in domestic and export markets.[48]
  • 38% of the U.S. cutting-tools market was represented by milling in McKinsey’s 2018 market analysis, the largest cited product segment.[42]
  • 5% to 10% more margin was associated with moving to a large distributor in the U.S. cutting-tools market, according to McKinsey interviews.[42]

Cost reduction in the cutting tools industry

  • 80% of Sandvik’s restructuring-program savings target had been delivered by the end of 2024.[2]
  • SEK1.2 billion in annual savings was the estimated value of Sandvik’s restructuring program, with almost 80% delivered by the end of 2024.[2]
  • SEK799 million of Sandvik Machining and Intelligent Manufacturing’s 2025 items affecting comparability was mainly related to restructuring and M&A costs.[2]
  • 45% less carbide per cutting edge was achieved by Sandvik’s Drion-tec D-Spade indexable drill, reducing material use and tool cost exposure.[2]
  • 6% or more of annual sales was allocated to R&D by Zhuzhou Cemented Carbide Cutting Tools, according to China Minmetals.[47]

Profitability in the cutting tools industry

  • 20.0% was Sandvik Manufacturing and Machining Solutions’ adjusted EBITA margin in 2024.[2]
  • 2.9% was the reported Chinese cutting-tool segment’s revenue decline in 2024 compared with 2023.[48]
  • 9.6% was Sandvik Manufacturing and Machining Solutions’ return on capital employed in 2024.[2]
  • 19.9% was Sandvik Machining and Intelligent Manufacturing’s adjusted EBITA margin in 2025.[2]
  • SEK9.385 billion was Sandvik Machining and Intelligent Manufacturing’s adjusted EBITA in 2025.[2]

Financial planning in the cutting tools industry

  • SEK7.2 billion was Sandvik’s proposed dividend for 2024, according to its financial-targets report.[2]
  • SEK6.5 billion was Sandvik’s targeted digital-offering revenue by the end of 2025, a planning objective relevant to its machining and cutting-tool solutions.[2]
  • 48% was Sandvik’s proposed 2024 dividend payout ratio, based on adjusted earnings per share.[2]
  • 7% was Sandvik’s target revenue growth through a business cycle, organically and through acquisitions.[2]
  • 9% was Sandvik’s three-year revenue growth through 2024, according to its financial-targets report.[2]

12 Statistics

Product & Service

Product & Service evidence quantifies tool-life and cycle-time outcomes, including up to 130% higher tool life for a Sandvik Turbo 16 example and 78% cycle-time reduction in one Sandvik Coromant application. Reconditioning savings are also quantified up to 60% versus new.

Product development in the cutting tools industry

  • More than 500 researchers and engineers work in Sandvik Coromant’s global research-and-development team, the company says.[16]
  • Kennametal reduced its product-development cycle to fewer than 10 months from 24 months in its disclosed historical comparison.[1]
  • More than 40 new patents per year were developed by Kennametal’s research scientists and engineers in the company’s disclosed product-development program.[1]
  • About 60 research and testing facilities support Sandvik Coromant’s cutting-tool development activities worldwide.[16]
  • 100–150 new patents are added annually to Sandvik Coromant’s research-and-development portfolio.[16]

Product lifecycle in the cutting tools industry

  • 50% more tool life reduces total cost per component by 1%, according to Sandvik Coromant’s cutting-tool economics guidance.[50]
  • Sandvik’s Turbo 16 cutting tool increased tool life by up to 130% in the company’s product example.[17]
  • Sandvik’s combined recycling rate for carbide products and steel tools was 67% in 2021.[20]
  • A Sandvik Coromant CoroMill Plura HD application achieved 253% higher tool life, reaching 212 minutes versus 60 minutes for the previous tool.[51]
  • The Sandvik CoroDrill DE10 doubled tool life when tested at the same cutting parameters as a competitor tool.[16]

After-sales in the cutting tools industry

  • US Tool Group says its reconditioning service can save customers up to 60% of the cost of new cutting tools.[22]
  • Sandvik Coromant reported a 15% tool-life increase and a 17% cost reduction in one reconditioning-related application.[52]
  • US Tool Group operates more than 40 Walter, ANCA and other CNC grinding machines for cutting-tool manufacturing and reconditioning.[22]
  • More than 400 tooling specialists work at US Tool Group’s 250,000-square-foot manufacturing center in Missouri.[22]
  • US Tool Group has capacity to recondition more than 500,000 cutting tools per week in North America.[22]

Value proposition in the cutting tools industry

  • Only 3% of total production cost is attributed to cutting tools in Sandvik Coromant’s manufacturing-economics model.[50]
  • US Tool Group’s reconditioning program offers savings of up to 60% versus purchasing new cutting tools.[22]
  • A Sandvik Coromant machining application reduced cycle time by 78% after changing the machining process and tool.[52]
  • A Sandvik Coromant application achieved a 17% cost reduction alongside a 15% increase in tool life.[52]
  • SCTool says its reconditioning program saves customers 40–75% per cutting tool on average.[53]

13 Statistics

Sustainability & Ethics

Sustainability & Ethics data ties tool materials to recycled inputs and emissions reductions. Examples include 67% recycling rate for carbide and steel tools in 2021 and 70% lower CO₂e emissions reported for Sandvik ReCarbide versus virgin ore.

Sustainability in the cutting tools industry

  • 99% of the carbide substrate in Hoffmann Group GARANT GreenPlus cutting tools is made from secondary raw materials in Europe in 2024.[54]
  • 90% is Sandvik Rock Tools’ reported reduction in the production-unit carbon footprint since 2019, reported for 2024 globally.[55]
  • 57% of raw materials used in Sandvik Rock Tools carbide production were recycled in 2024 globally.[55]
  • 70% lower CO₂e emissions were reported for Sandvik ReCarbide, made entirely from recycled carbide inserts, versus virgin mined raw materials.[55]
  • 95% of JR-Tools’ purchased electricity was emission-free in Finland in 2025.[56]

ESG in the cutting tools industry

  • 57% of Sandvik purchasers had received training on supplier sustainability requirements in 2021 globally.[2]
  • 90% is Sandvik’s target for training new employees on the Code of Conduct within three months of hiring.[2]
  • 100% is Sandvik’s target for Code of Conduct training coverage among employees and long-term contractors employed for more than 90 days.[2]
  • 90% is Seco’s 2030 target for circularity across products, packaging and waste in its cutting-tools value chain.[57]
  • 88% of invited Sandvik employees had completed refresher Code of Conduct training by December 31, 2025, globally.[2]

Ethics in the cutting tools industry

  • 86% of Sandvik new employees completed Code of Conduct training within three months of hiring by the end of 2025 globally.[2]
  • 88% of invited Sandvik employees completed refresher Code of Conduct training by December 31, 2025, globally.[2]
  • 100% of Sandvik Group Executive Management and Board members had undergone Code of Conduct training by the end of 2025.[2]

Circular economy in the cutting tools industry

  • 90% is Seco’s 2030 target for operational waste reused or recycled in its cutting-tools operations.[57]
  • 99% of the carbide substrate in Hoffmann Group GARANT GreenPlus cutting tools was made from secondary raw materials in 2024.[54]
  • 65% lower carbon footprint was reported for Hoffmann Group’s recycled-carbide rod than for a conventional reference rod in 2024.[54]
  • 57% of raw materials used in Sandvik Rock Tools carbide production were recycled in 2024.[55]
  • 90% is Seco’s 2030 target for recovered carbide from sold cutting tools.[57]

Carbon footprint in the cutting tools industry

  • 90% is the reduction in Sandvik Rock Tools’ production-unit carbon footprint since 2019, reported for 2024 globally.[55]
  • 65% lower carbon footprint was reported for Hoffmann Group’s recycled-carbide rod versus a conventional reference rod in 2024.[54]
  • 70% lower CO₂e emissions were reported for Sandvik ReCarbide compared with virgin raw materials from mined ore.[55]

15 Statistics

Globalization & Expansion

Globalization & Expansion shows cross-region reach through distribution and acquisition scale. It includes Dormer Pramet distribution centers covering 100 countries in 2024 and a 2026 Sandvik acquisition outcome affecting 80% of K&Y Diamond.

Globalization in the cutting tools industry

  • SEK 17,636 million was Sandvik’s 2025 revenue from customers in the United States, its largest country market.[2]
  • SEK 13,731 million was Sandvik’s 2025 revenue from customers in Australia.[2]
  • 100 countries were served by Dormer Pramet’s enhanced distribution centers in 2024.[25]
  • 19% of Kennametal’s 2025 Metal Cutting revenue came from Asia Pacific.[1]
  • 21 sales offices and three global manufacturing centers supported Dormer Pramet’s international business in 2024.[25]

Cultural adaptation in the cutting tools industry

  • 44 employees and EUR 7.1 million of 2023 revenue were reported for Germany’s Almü Präzisions-Werkzeug, acquired by Sandvik Coromant in 2024.[2]
  • 1,200 employees and SEK 1.2 billion of 2023 revenue were reported for Suzhou Ahno, the China-based cutting-tool company acquired by Sandvik in 2024.[2]
  • 56 employees and SEK 88 million of 2022 revenue were reported for Germany’s pro-micron, acquired by Sandvik Coromant in 2024.[2]
  • In 2024, Dormer Pramet united the Dormer and Pramet brands under one global master brand.[25]

Supplier management in the cutting tools industry

  • Over 2,000 employees were reported by Dormer Pramet in 2024 to support its global manufacturing and supply network.[25]
  • More than 100 markets were served by Dormer Pramet through a globally connected network of manufacturers, partners and suppliers in 2024.[25]
  • 95% of the shares in Ireland’s Premier Machine Tools were acquired by Sandvik in 2023, with an option for the remaining shares.[2]
  • Five locations—Maine, South Carolina, Louisiana, Alabama and Georgia—formed Burton Mill Solutions’ cutting-tool reconditioning network after its 2024 expansion.[30]
  • 58 associates and slightly more than $20 million of combined 2023 revenue were added through MSC Industrial’s acquisitions of ApTex and Premier Tool Grinding.[27]

Stakeholder management in the cutting tools industry

  • 40 employees and SEK 80 million of trailing 12-month revenue were reported for Universal Field Robots, acquired by Sandvik in 2024.[2]
  • 48 employees and SEK 333 million of 2022 revenue were reported for Buffalo Tungsten, acquired by Sandvik in 2023.[2]
  • 55 employees and $26 million of 2023 revenue were reported for Cimquest, acquired by Sandvik in 2024.[2]
  • 107 employees and $36 million of 2023 revenue were reported for PDQ Workholding, acquired by Sandvik’s Walter Group in 2024.[2]

Distribution channels in the cutting tools industry

  • 21 sales offices supported Dormer Pramet’s distribution and customer-service model in 2024.[25]
  • $959.3 million was Kennametal Infrastructure sales in fiscal 2026, sold primarily through direct sales and distributors.[1]
  • $1.397 billion was Kennametal Metal Cutting sales in fiscal 2026 across its direct and indirect channels.[1]
  • 100 countries were covered by Dormer Pramet’s distribution centers in 2024.[25]
  • $100 million was Diamond Blade Warehouse’s approximate 2023 revenue as a distributor and manufacturer of industrial cutting products.[64]

Key questions about the Cutting Tools Industry

What is the estimated size of the global cutting tools market in 2025?
Global market estimates put 2025 value at $23.1 billion.
How fast does the market be expected to grow from 2026 to 2035?
Global Market Insights projects the cutting tools market to reach $38.7 billion by 2035 from $24.5 billion in 2026, implying 5.2% CAGR for 2026–2035.
Which companies lead the cutting tools industry?
Sumitomo Electric Industries leads Gitnux's 2026 cutting tools ranking with an Overall score of 9.1, with R&D at 3.2% of revenue in 2025. Mitsubishi Materials is the runner-up at 8.8, with 6,973 employees in Metalworking Solutions as of March 31, 2026.
What technology shifts are affecting cutting tools buying decisions?
Cited shifts include CNC automation and Industry 4.0 increasing demand for higher-performance and digitally connected tools, and digital-tool integration and sensor-enabled solutions as differentiators.
How concentrated are leading suppliers and how is the market split by region?
Global Market Insights reports the top five suppliers held 29.5% collectively in 2025, while Asia-Pacific accounted for 48% of global metal cutting tools sales in 2024.
What metrics are buyers using to judge cutting tools beyond list price?
Pricing evidence is not standardized, so buyers evaluate tool life, cycle time, throughput, coolant performance, and application support as part of total machining economics.
Reference

Cite This Report

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APA
Sophie Moreland. (2026, February 13). Cutting Tools Industry Statistics. Gitnux. https://gitnux.org/cutting-tools-industry-statistics
MLA
Sophie Moreland. "Cutting Tools Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/cutting-tools-industry-statistics.
Chicago
Sophie Moreland. 2026. "Cutting Tools Industry Statistics." Gitnux. https://gitnux.org/cutting-tools-industry-statistics.

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