According to Cognitive Market Research, the global Cutting Tool Insert market size was USD 12568.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 5027.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3770.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2890.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 628.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 251.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The CBN (Cubic Boron Nitride) category is the fastest growing segment of the Cutting Tool Insert industry
