The Indian cutting tools market produces a wide range of tools such as saw blades, taps, reamers, hobs, chasers, broaches, rolling dies, drills, end mills, cutters, burrs, other gear cutting tools, tool bits, tips/inserts and many more. The market has witnessed an extensive growth in the last two decades. The demanded was driven by industries like construction, automotive, railway network, engineering, and defense. The reasons behind these demands are the overall growth of these secrets and increasing global competition. Among them, the major consumer of the cutting tools is the diamond cutting tool industry.
During 2012-13, the Indian Cutting tools market values around INR 15.6 billion and now it’s valued as reached more than INR 80 billion. Therefore, India has proved to be promising markets for diamond cutting tools. It has been considerably welcoming with the new innovations and integrated new technologies as well as ideas, successfully.
Use of New and Different Raw Materials
The manufacturers are readily embracing the use of different raw materials especially, metal powders to make the different types of diamond cutting tools. One of the reasons is that the existing materials were expensive& need to import. Particularly iron powders are greatly used especially electrolytic iron to make the diamond cutting tools because it increases its performance and durability of tools and abrasives produced for stone cutting tools. One of the reliable electrolytic iron powder manufacturers in India is theIndustrial Metal Powders (India) Pvt. Ltd. They provide electrolytic iron powders and pre-alloyed powders in its purest form, which are extremely beneficial for the diamond cutting tools.
Market Overview, Growth Status, and Major Player
During the forecast period of 2016-2020, the market for cutting tools in India was expected to growth at the rage of CAGR of 13%. The cutting tools manufactures were not disappointed with the numbers. This growth rate owns to the demands by the automotive sectors. The small, big, as well as medium suppliers, have a significant contribution to the Indian cutting tool market. Plus there is a notable investment and attention offered to the developments of cutting tools market. Currently, India stands 10th in consumption and 13th in the production of cutting tools. It can be said that the Indian market has a healthy growth rate.
It is also estimated that the growth rate will reach around 15% by the next forecast i.e. till 2025. India has almost 1000 manufacturing units of cutting tools. All these include the small, big, as well as medium-sized companies.
The value of Indian cutting tool market is around INR 80 billion among which the told made by metal powders alone stands around 40 billion. The local manufacturers contribute around 45% of total production. India gives good competition to advanced countries like Japan Germany, South Korea, Italy, etc.
Since the cutting tool sector serves every other industry in India, it is a crucial part of the country’s business ecosystem. Like most of the sectors, the manufacturers of cutting tools are divided into 2 segments – SEMs and OMEs.
Conclusion
Due to the high purity, stable PSD factors of Electrolytic Iron Powder & customization for each application/type of tools, it becomes an apt choice for making various diamond cutting tools. The use of ELECTRO-DIAMOND has also increased the cost-efficiency of making diamond cutting tools.
