Stratistics MRC에 따르면 세계의 인덱서블 인서트 시장은 2025년에 64억 달러에 달하고 예측 기간 동안 CAGR 7.6%를 나타내 2032년에는 107억 달러에 이를 전망입니다.
인덱서블 인서트는 밀링 가공, 선반 가공, 드릴 가공 등의 기계 가공에 사용되는 교환 가능한 절삭 공구입니다. 무뎌지면 다시 연마해야 하는 기존 공구와 달리 인덱서블 인서트는 회전하거나 뒤집어서 새 절삭날을 노출할 수 있어 가동 중단 시간을 줄이고 생산성을 향상시킬 수 있습니다.
국제자동차공업회(OICA)에 따르면 세계의 자동차 생산량은 6,500만대를 넘어섰습니다.
CNC 공작기계 사용 증가
CNC 공작기계 사용 증가는 인덱서블 인서트 시장의 성장을 적극적으로 촉진하고 있습니다.
CNC 및 공구 시스템에 높은 초기 투자
CNC와 공구 시스템에 필요한 고액의 초기 투자는 인덱서블 인서트 시장의 성장을 크게 방해하고 있습니다. 이로 인해 시장 침투가 제한되어 생산 효율과 기술 진보가 둔화되고, 또한 유지 보수 및 업그레이드 비용이 투자를 더욱 억제하고 인덱서블 인서트 산업 전체의 확대를 제한하고 있습니다.
공구 재료의 기술 진보
공구 재료의 기술 진보는 성능, 내구성, 정밀도를 향상시켜 인덱서블 인서트 시장을 견인하고 있습니다.
변동하는 원재료 가격
원재료 가격의 변동은 생산비용을 높이고 가격설정의 불확실성을 창출함으로써 인덱서블 인서트 시장에 파괴적인 영향을 미칩니다. 이 불안정성은 최종 사용자의 가격 상승, 수요 감소, 공급망 혼란을 초래할 수 있습니다.
COVID-19의 영향
COVID-19의 대유행은 제조 공정과 세계 공급망을 혼란시켜 인덱서블 인서트 시장에 큰 영향을 주었습니다. 그러나 자동화와 제조 정밀도에 대한 수요가 높아짐에 따라 산업이 조업을 재개했기 때문에 시장은 서서히 회복되었습니다.
예측 기간 동안 밀링 칩 부문이 최대가 될 전망
밀링 칩 부문은 가공 효율, 다운타임 절감, 제조 공정의 마무리 면 개선으로 예측 기간 중 최대 시장 점유율을 차지할 것으로 예측됩니다. 자동차, 항공우주 및 산업 부문 수요가 증가함에 따라 밀링 칩은 재료와 용도에 관계없이 범용성이 있습니다.
예측 기간 동안 세라믹 부문의 CAGR이 가장 높을 것으로 예상
예측 기간 동안 세라믹 부문은 탁월한 경도, 내열성 및 마모 성능으로 인해 가장 높은 성장률을 보일 것으로 예측됩니다. 고온에서도 성능을 유지할 수 있는 세라믹 칩은 생산성과 공구 수명을 향상시켜 다운타임과 운용 비용을 삭감합니다.
예측 기간 동안 아시아태평양은 이 지역의 견고한 제조 부문, 기술 진보, 정밀 가공 수요 증가로 최대 시장 점유율을 차지할 것으로 예측됩니다. 자동차, 항공우주, 중기계 등의 산업이 수요를 견인하고 있으며, 시장은 지속적인 확대가 예상되고 있습니다.
예측기간 동안 북미가 가장 높은 CAGR을 나타낼 것으로 예측되지만, 이는 기계가공기술의 진보와 자동차, 항공우주, 제조업 등 업계에서의 수요 증가로 인한 것입니다. 또한 효율성과 생산성이 향상됩니다. 또한 칩 코팅 및 재료 혁신은 성능, 정밀도 및 공구 수명 향상에 기여하고 있습니다.
According to Stratistics MRC, the Global Indexable Inserts Market is accounted for $6.4 billion in 2025 and is expected to reach $10.7 billion by 2032 growing at a CAGR of 7.6% during the forecast period. Indexable inserts are replaceable cutting tools used in machining operations such as milling, turning, and drilling. Made from hard materials like carbide, ceramic, or cermet, these inserts are designed to fit into a compatible toolholder and provide efficient, precise cutting performance. Unlike traditional tools that require regrinding when dull, indexable inserts can be rotated or flipped to expose a fresh cutting edge, reducing downtime and improving productivity. Their standardized shapes and sizes make them versatile and cost-effective for various industrial applications. Common in CNC machining, indexable inserts enhance tool life, accuracy, and efficiency across a wide range of manufacturing processes.
According to the International Organization of Motor Vehicle Manufacturers (OICA), global automobile production cross 65 million units.
Rise in CNC Machine Tool Usage
The rise in CNC machine tool usage is positively driving growth in the indexable inserts market. As industries increasingly adopt CNC machining for its precision, efficiency, and automation capabilities, the demand for high-performance cutting tools like indexable inserts surges. These inserts enhance machining accuracy, reduce downtime, and support cost-effective production. Their compatibility with CNC systems makes them ideal for various applications, boosting market demand and innovation. This trend reflects a growing shift toward advanced manufacturing technologies worldwide.
High Initial Investment in CNC and Tooling Systems
The high initial investment required for CNC and tooling systems significantly hinders the growth of the indexable inserts market. Small and medium-sized manufacturers often face financial constraints, making it difficult for them to adopt advanced machinery. This limits market penetration, slowing down production efficiency and technological advancement. Additionally, the cost of maintenance and upgrades further discourages investments, restricting the overall expansion of the indexable inserts industry.
Technological Advancements in Tooling Materials
Technological advancements in tooling materials are absolutely driving the indexable inserts market by enhancing performance, durability, and precision. Innovations such as advanced coatings, carbide composites, and nano-structured materials have significantly increased cutting efficiency and tool life. These improvements reduce downtime, boost productivity, and lower operational costs for manufacturers. As industries demand higher machining speeds and accuracy, the adoption of technologically advanced indexable inserts is accelerating, fostering market growth and supporting the evolving needs of modern manufacturing sectors.
Fluctuating Raw Material Prices
Fluctuating raw material prices destructively impact the indexable inserts market by increasing production costs and creating pricing uncertainty. Manufacturers face challenges in maintaining profit margins due to the volatility of key materials like carbide and high-speed steel. This instability can lead to higher prices for end-users, reduced demand, and supply chain disruptions. Inconsistent costs hinder investment in innovation and long-term planning, ultimately affecting market growth and competitiveness.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the indexable inserts market, disrupting manufacturing processes and global supply chains. With factory shutdowns, labor shortages, and restrictions on movement, production and distribution were severely affected. However, the market saw a gradual recovery as industries resumed operations, driven by increased demand for automation and manufacturing precision. The post-pandemic era also emphasized the need for resilient supply chains and technological advancements in the market.
The milling inserts segment is expected to be the largest during the forecast period
The milling inserts segment is expected to account for the largest market share during the forecast period, due to machining efficiency, reducing downtime, and improving surface finish in manufacturing processes. Their ability to be replaced without removing the entire tool lowers operational costs and increases productivity. With rising demand from automotive, aerospace, and industrial sectors, milling inserts offer versatility across materials and applications. Innovations in insert geometry and coating technology further boost performance, positioning the segment as a key contributor to market expansion.
The ceramic segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the ceramic segment is predicted to witness the highest growth rate, due to its exceptional hardness, heat resistance, and wear performance. These properties make ceramic inserts ideal for high-speed machining and demanding metal-cutting applications, especially in aerospace and automotive industries. Their ability to maintain performance at elevated temperatures enhances productivity and tool life, reducing downtime and operational costs. As manufacturers seek more efficient and durable solutions, the rising adoption of ceramic inserts is significantly boosting market expansion and technological advancement.
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to region's robust manufacturing sector, technological advancements, and increasing demand for precision machining. These inserts enhance operational efficiency and tool longevity, contributing to cost savings and productivity improvements. With industries such as automotive, aerospace, and heavy machinery driving the demand, the market is poised for continued expansion. The adoption of advanced materials and innovations further accelerates the development of the region's manufacturing capabilities.
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to advancements in machining technologies and increased demand from industries like automotive, aerospace, and manufacturing. The ability to replace worn-out inserts rather than the entire cutting tool enhances cost-efficiency and productivity. Moreover, innovations in insert coatings and materials contribute to improved performance, precision, and tool life. As industries seek higher efficiency and cost reduction, the market for indexable inserts in North America is poised for sustained expansion.
Key players in the market
Some of the key players profiled in the Indexable Inserts Market include Sandvik AB, Kennametal Inc., Mitsubishi Materials Corporation, ISCAR Ltd., Walter AG, Kyocera Corporation, Sumitomo Electric Industries, Ltd., Seco Tools AB, Ceratizit S.A., Tungaloy Corporation, TaeguTec Ltd., Zhuzhou Cemented Carbide Group Co., Ltd., Korloy Inc., Ingersoll Cutting Tools, Dorian Tool International, Allied Machine & Engineering Corp., Carmex Precision Tools Ltd., Beijing Worldia Diamond Tools Co., Ltd. and CeramTec GmbH.
In September 2024, Mitsubishi Corporation and ExxonMobil have entered into a Project Framework Agreement to advance what is anticipated to be the world's largest low-carbon hydrogen project. This initiative involves ExxonMobil's facility in Baytown, Texas, which aims to produce nearly carbon-free hydrogen by removing approximately 98% of CO2 emissions, along with low-carbon ammonia.
In May 2024, Masan High-Tech Materials (MHT) and Mitsubishi Materials Corporation (MMC Group) announced a framework agreement outlining strategic business developments. Under this agreement, MMC Group intends to acquire 100% of H.C. Starck Holding (HCS) from MHT.
In May 2024, Mitsubishi Electric Corporation and Musashi Energy Solutions Co., Ltd. have entered into a partnership and co-development agreement to create innovative energy storage solutions for the railway industry. The collaboration, aims to advance carbon neutrality in global rail transportation.