Threading Tools Market Size, Share, and Industry Analysis, By Type (External Threading and Internal Threading); By Material (HSS and Carbide); By Application (Lathes, Milling, Turning, and Other (Tapping)); and Regional Forecast, 2024-2032

Threading tools are the hard metal cutting tools used for metal cutting operations such as threading or manufacturing screws. These tools are used extensively in the metal turning, milling, and tapping operations in the metal and construction industry. The tools are made from hard carbide, high-speed steel, and other specialty metals that offer higher strength, wear resistance, and more operational capability. The tools are prone to high temperature and wear resistance, which makes them more ideal choice for metal threading operations.

The global rise in infrastructure development projects has resulted in an increased demand for metal components in the megastructure. The growing use of threaded bolts, screws, and other threaded components has bolstered the demand for threading tools. These tools help with effective threading in minimal time and give optimal precision for the work piece or other components. Further, the rising demand for threaded fasteners in the automotive and shipbuilding industry has supported the product demand in manufacturing operations.

• In December 2023, according to the Federation of Industry and Innovation (European Machine Tool Industry Association), CECIMO forecasted a lowered growth for machine tool production in Europe to 3.2% for the year 2024.

The COVID-19 pandemic has had a significant impact on the global threading tool industry. Travel restrictions and supply chain constraints made it even more challenging. Hence, to recover from the pandemic, tool manufacturers considered making more strategic decisions to promote the adoption of advanced machine tools across manufacturing. Players in the industry are conducting deep-dive research and development activities to improve the tools and technology used in machining operations. These R&D activities will help integrate more advanced machine tools and technologies into the market expanding profitability for manufacturers.

Impact of Supply Chain on the Threading Tool Market

Due to the COVID-19 pandemic, many manufacturers experienced additional risks, such as decreased operative productivity, as remote work culture came into the picture that brought slight cyber risk but helped move on to e-platforms. Moreover, global and regional manufacturers faced a significant shortfall in revenue. In contrast, the halt helped to evolve to extract revenue from the new sales channel and new and innovative product segments.

Most players expanded their current production capacities and research facilities to develop new innovative, advanced products capable of being smartly controlled from anywhere and anytime.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of Generative AI on the Global Threading Tools Market


• Consolidated SWOT & Competitor Analysis of Key Players

Segmentation

 Analysis By Application

By application, the threading tool market has been subdivided into turning, milling, lathe, and others.

The machine tool industry experienced severe challenges owing to global economic slowdown and sluggish investment ecosystem amid the COVID-19 pandemic. However, lathe operations are expected to witness a rise in product demand owing to high metal cutting and shaping operations.

Further, turning, milling, and tapping operations are estimated to grow steadily with a surge in metal finishing and cutting operations.

Regional Analysis

The global threading tool market has been studied across five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

The Asia Pacific region is expected to experience the highest growth rate in the forecast period. The growth is primarily due to the increasing number of infrastructure projects for developing high-end mega structures. The growing use of CNC machines for lathe, milling, turning, and tapping operations has bolstered the demand for threading tools. As urbanization continues to grow, the demand for efficient and advanced machine tools for effective metal cutting and threading operations is rising, further strengthening the product demand across the metal industry. China is predicted to dominate the regional market due to the vast number of planned infrastructure projects in the country. Some of the large-scale construction projects in China include Shanghai Tower, Beijing Phoenix Media Centre, and the Shanghai Disneyland Resort.

• In October 2023, according to data from the China Machine Tool & Tool Builders Association and the National Bureau of Statistics, the economic indicator data showcased a steady recovery in China's machine tool industry from January to August. New orders of machine tools for metal processing increased 0.5% year on year.

In 2023, a significant share of the market was held by the Asia Pacific region due to the dominance of the region in metal fabrication and finishing operations. Further, rising investments in technologies such as the Internet of Things (IoT), Computer Numerically Controlled (CNC), and especially tool design and manufacturing, particularly in lucrative markets such as China, India, and Japan boosted industry expansion.

Furthermore, the threading tool market in North America is benefiting from the government's push for technology adoption in infrastructure and metal structure projects to achieve higher-quality outcomes. The government's support in promoting technology use is further accelerating the country's progress. Last year, the U.S. Congress passed the Infrastructure Investment Bill, which offers government funding for various infrastructure projects. This is expected to increase the demand for labor, tools, and supplies used in construction.

Distribution of the Global Threading Tool Market, By Region of Origin:

• North America – 21%


• South America – 9%


• Europe – 24%


• Middle East & Africa – 7%


• Asia Pacific – 39%

Key Players Covered

The key players in this market include WhizCut of Sweden AB, Cole Carbide Industries, Inc., Aloris Tool Technology Co., Inc., Micro 100 Tool Corporation, IZAR CUTTING TOOLS, SAL, EMUGE-FRANKEN, Sumitomo Electric Industries, Ltd, DC SWISS SA, CERATIZIT S.A, Walter AG,  Sandvik Coromant, ISCAR LTD, and Gühring KG.

Key Industry Developments

• January 2024: Walter, a global tool technology leader, introduced its Tiger tec Gold thread milling cutter. The new grade WSM37G is a technological leap to the new field of thread milling application that benefits from innovative coating technology. The tool is made up of a carbide substrate that offers wear resistant TiAIN layer and a multi-layer (Al2O3) aluminum oxide layer for superior temperature resistance.


• December 2023: Walter, a prominent tool technology manufacturer, launched an innovative thread milling tool named Thrill-tec TC 645. It is designed to combine the machining steps of core hole drilling and threading in a single tool and operation.