Deep Research and Analysis of Cutting Tool Industry Data and Development Strategy Planning Report

Cutting tools are tools used for cutting in mechanical manufacturing. The vast majority of cutting tools are machine tools, but there are also hand tools. Due to the fact that most of the cutting tools used in mechanical manufacturing are used to cut metal materials, the term "cutting tool" is generally understood as a metal cutting tool. The cutting tool used for cutting wood is called a woodworking tool.

As early as the 28th to 20th century BC, copper tools such as brass cones and red copper cones, drills, and knives had already appeared in China. However, the rapid development of cutting tools was in the late 18th century. In 1783, Renet of France first produced the milling cutter, and in 1822, he invented the Fried Dough Twists drill, but it was not until 1864 that it was produced as a commodity.
In 1868, Mushet in England made alloy tool steel containing tungsten. In 1898, Taylor and White of the United States invented high-speed tool steel. In 1923, Schlester from Germany invented hard alloy cutting tools, which greatly improved the surface quality and dimensional accuracy of workpieces.
At the beginning, due to the high prices of high-speed steel and hard alloy cutting tools, welded and machine clamped structural cutting tools emerged. Between 1949 and 1950, the United States began using indexable blades on turning tools, which were soon applied to milling cutters and other cutting tools. In 1938, the German company Degussa obtained a patent for ceramic cutting tools. In 1972, General Electric Company of the United States developed polycrystalline artificial diamond and polycrystalline cubic boron nitride blades, enabling higher cutting speeds for metal material workpieces.
And after the development of hard alloy cutting tools, Sweden's Sandvik Steel Plant obtained a patent for titanium carbide coated hard alloy blades in 1969. In 1972, Bangsha and Lagulan in the United States developed the physical vapor deposition method and developed titanium carbide or titanium nitride hard alloy cutting tools. The surface coating enhances the performance of the original hard alloy cutting tools. With good strength and toughness, the cutting performance is more outstanding.
With the continuous progress of global machining level, the production and manufacturing technology of cutting tools is also gradually developing. In terms of tool materials, modern metal cutting tool materials have developed from carbon tool steel and high-speed steel to superhard tool materials such as hard alloys and cubic boron nitride today, resulting in cutting speeds soaring from a few meters per minute to kilometers or even tens of thousands of meters.
In recent years, the global market size of cutting tools has steadily increased, reaching $39.125 billion in 2022.