The global Indexable inserts Market Growth Accelerated by Increased Demand from Manufacturing Industry
Indexable inserts are used in machining applications and are inserted into tool holders to cut or shape raw materials. They offer advantages like high precision, wear resistance and ability to machine hard materials. The global Indexable inserts Market is estimated to be valued at US$ 7.03 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The manufacturing industry has been growing at a steady pace which has increased the demand for indexable inserts that are used for various machining operations in factories. Indexable inserts find wide application in CNC machining, turning, drilling, reaming, threading and milling hard materials like steel alloys and super alloys. The rise in complex manufacturing processes and precision requirements has boosted the sales of indexable inserts. Major industries like automotive, aerospace and die & mould making ar...