Indexable Inserts Market, By Insert Type (Turning Inserts, Milling Inserts, Drilling Inserts, Threading Inserts, Grooving and Parting Inserts), By Material Type (Carbide Inserts, Cermet Inserts, CBN Inserts, and PCD Inserts), By Coating Type (Titanium Nit

Indexable Inserts Market, By Insert Type (Turning Inserts, Milling Inserts, Drilling Inserts, Threading Inserts, Grooving and Parting Inserts), By Material Type (Carbide Inserts, Cermet Inserts, CBN Inserts, and PCD Inserts), By Coating Type (Titanium Nitride Coating, Titanium Carbo Nitride Coating, Titanium Aluminum Nitride Coating, Aluminum Titanium Nitride Coating, Chemical Vapor Deposition Coating, Physical Vapor Deposition Coating.), By Workpiece Material (Steel, Stainless Steel, Cast Iron, Aluminum, Exotic Alloys, and Non-Ferrous Metals), By Cutting Operation (Rough Machining, Finishing Machining, High-Speed Machining, and Hard Material Machining), By Geometry Type (Positive Rake Inserts and Negative Rake Inserts), By Insert Shape (Round Inserts, Square Inserts, Triangle Inserts, Rhombic Inserts, and Octagonal Inserts), By Application Industry (Aerospace, Automotive, Medical Devices, Electronics, Energy, General Manufacturing, and Heavy Machinery), By Sales Channel (Direct Sales and Distributors), By End User (Large Enterprises and Small and Medium-sized Enterprises), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global indexable inserts market size is estimated to be valued at US$ 6.4 Bn in 2024 and is expected to reach US$ 9.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Figure 1. Global Indexable Inserts Market Share (%), By Region, 2024

Indexable inserts are replaceable cutting tools that are used in machining operations such as turning, milling, drilling, and threading. These inserts feature multiple cutting edges that can be rotated or flipped, thereby allowing for extended tool life and efficient machining. They are designed to be inserted into toolholders, thus offering a cost-effective and versatile solution for achieving precision and productivity in modern manufacturing processes.

Market Dynamics:

Enhanced machining efficiency, cost-effectiveness, and precision machining demands across industries, advancements in cutting materials and coatings, are major factors expected to drive growth of the global indexable inserts market during the forecast period.

Global indexable inserts market is driven by factors such as growing automation across various industries, improving productivity standards through advanced machining processes, and increasing research and development (R&D) activities for development of new alloy compositions. However, volatility in raw material prices poses a major restraint. For instance, fluctuations in prices of steel and carbides can hamper market revenue to an extent. On the other hand, rising use of indexable inserts in industries such as aerospace presents significant growth opportunities. The aerospace industry adheres to very high quality control and demand precision in machining, which works in favor of indexable inserts market. Development of new grades suitable for difficult-to-cut materials will further create new avenues over the forecast period.

However, high initial investment costs, complexity in tool selection, and a shortage of skilled are expected to hamper the growth of the global indexable inserts market over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global indexable inserts market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global indexable inserts market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Sandvik Coromant, Kennametal Inc., Iscar Ltd., Mitsubishi Materials Corporation, Seco Tools, Walter AG, Kyocera Corporation, Tungaloy Corporation, Sumitomo Electric Industries, Ltd., Ceratizit Group, Ingersoll Cutting Tool Company, TaeguTec Ltd., Valenite LLC (Kennametal), Lamina Technologies, and Vargus Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global indexable inserts market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global indexable inserts market.

Detailed Segmentation:

• Global Indexable Inserts Market, By Insert Type:
• Turning Inserts
• Milling Inserts
• Drilling Inserts
• Threading Inserts
• Grooving and Parting Inserts
• Global Indexable Inserts Market, By Material Type:
• Carbide Inserts
• Cermet Inserts
• CBN (Cubic Boron Nitride) Inserts
• PCD (Polycrystalline Diamond) Inserts
• Global Indexable Inserts Market, By Coating Type:
• Titanium Nitride( TiN) Coating
• Titanium Carbo Nitride (TiCN ) Coating
• Titanium Aluminum Nitride(TiAlN) Coating
• Aluminum Titanium Nitride (AlTiN) Coating
• Chemical Vapor Deposition(CVD) Coating
• Physical Vapor Deposition (PVD)Coating
• Global Indexable Inserts Market, By Workpiece Material:
• Steel
• Stainless Steel
• Cast Iron
• Aluminum
• Exotic Alloys
• Non-Ferrous Metals
• Global Indexable Inserts Market, By Cutting Operation:
• Rough Machining
• Finishing Machining
• High-Speed Machining
• Hard Material Machining
• Global Indexable Inserts Market, By Geometry Type:
• Positive Rake Inserts
• Negative Rake Inserts
• Global Indexable Inserts Market, By Insert Shape:
• Round Inserts
• Square Inserts
• Triangle Inserts
• Rhombic Inserts
• Octagonal Inserts
• Global Indexable Inserts Market, By Application Industry:
• Aerospace
• Automotive
• Medical Devices
• Electronics
• Energy
• General Manufacturing
• Heavy Machinery
• Global Indexable Inserts Market, By Sales Channel:
• Direct Sales
• Distributors
• Global Indexable Inserts Market, By End User:
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
• Global Indexable Inserts Market, By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa
• Top Companies in the Global Indexable Inserts Market:
• Sandvik Coromant
• Kennametal Inc.
• Iscar Ltd.
• Mitsubishi Materials Corporation
• Seco Tools
• Walter AG
• Kyocera Corporation
• Tungaloy Corporation
• Sumitomo Electric Industries, Ltd.
• Ceratizit Group
• Ingersoll Cutting Tool Company
• TaeguTec Ltd.
• Valenite LLC (Kennametal)
• Lamina Technologies
• Vargus Ltd.