While the demand for toolholders will be largely driven by emerging economies, in particular the manufacturing sector, China is likely to make substantial investments in high-performance cutting tools, considering the robust manufacturing and industrial output in the region.
In other developing countries such as Philippines and Bangladesh, the positive scenario and policies, infrastructure and steps that are being taken to promote business, especially the manufacturing sector, will have a positive impact on the toolholders market offering huge opportunities for investors.
As per the report, the global toolholders market will top US$ 1 billion by 2019. Moreover, growing demand for high-precision products with increased output capacity is propelling the demand for advance toolholders in the global market, opines FMI.
Key Market Insights at a Glance:
Laser Cutting Technologies Could Restrict Toolholders Sales
Laser cutting, a streamlined and precision manufacturing process, is likely to pose challenges for toolholders given its ability to not just cut materials but also apply finish to a product. Apart from lower risks of material deformation or warping, because there is no direct contact between the material and the laser cutting device, chances of incorrect markings and contamination further reduces. Although laser cutting could be technically challenging and costly, end-use industries demanding high cutting precision such as automotive, are projected to replace traditional tool cutting equipment. However, high market penetration of relatively low cost toolholders may restrict the demand for new and more advanced toolholders despite their high accuracy and ease of handling.
Article Source: Future Market Insights, Cutting Tool Engineering