At 6.6% CAGR, Asia Pacific Indexable Insert Market is Projected to be WWorth US$ 5,756.89 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific indexable insert market was valued at US$ 3,456.75 million in 2023 and is expected to reach US$ 5,756.89 million by 2031, registering a CAGR of 6.6% from 2023 to 2031. Rising demand for indexable tools in industrial applications and growing government spending on military infrastructure development and reinforcement are among the critical factors attributed to drive the Asia Pacific indexable insert market.

Indexable inserts are increasingly used in industries such as automotive, aerospace, medical, and general manufacturing in various applications, including milling, drilling, grooving, and threading. Indexable inserts represent a significant advancement in cutting tool technology and offer numerous advantages over traditional tooling methods. Easy interchangeability, high performance, and versatility of cutting edges make indexable inserts indispensable in modern machining. Manufacturers can optimize their machining processes, improve productivity, and reduce costs by understanding the operating principles, benefits, and applications of indexable inserts. Automobile production is steadily increasing worldwide, especially in Asian countries, increasing the demand for indexable inserts. In industry, indexable inserts are widely used in the metal machining of crankshafts, face milling and hole drilling, and other machining operations in producing auto parts.

The automotive industry achieves excellent results with the use of indexable inserts in ball joints, brakes, crankshafts in high-performance vehicles, and other mechanical parts of vehicles that are subjected to heavy use and extreme temperatures. Automotive giants such as Audi, BMW, Ford Motor Company, and Range Rover are contributing significantly to the growth of the indexable inserts market. For instance, in 2025, Mahindra opened a dedicated EV manufacturing and battery assembly facility at its Chakan plant in Pune, India. This facility supports the production of the new Electric Origin SUV range, built on the INGLO EV platform, which shares components with Volkswagen’s MEB platform.

Indexable inserts are used for a variety of purposes in the aerospace industry. They are particularly used in milling operations that require high precision and smooth surfaces. Indexable inserts are commonly employed in this industry as they can cut through materials such as titanium, aluminum, steel alloy, and plastics. They are crucial in manufacturing aircraft components such as engines, wings, fuselage structures, and landing gears. The aerospace industry increasingly emphasizes lightweight materials and high-end manufacturing techniques to enhance the fuel efficiency and performance of aircraft. In July 2023, Airbus—a European plane manufacturer—inaugurated a production facility in Tianjin, China, for the A-320 narrow bodies as a part of its initiative to expand its production capabilities in the country. With this development, Airbus would be able to fabricate ~75 new A-320 neo-family jets every month by 2026. In 2022, Collins Aerospace, a business of Raytheon Technologies (US), invested US$ 200 million in India and unveiled its Global Engineering and Technology Center (GETC) and Collins India operation center in Bengaluru. With this move, Collins Aerospace plans to scale up its manufacturing operations by acquiring digital technology and engineering capabilities. The increasing demand for indexable tools in industrial applications is anticipated to fuel the demand for indexable inserts in the coming years.

On the contrary, raw material price variants hamper the growth of Asia Pacific indexable insert market.

Based on insert shape, the Asia Pacific indexable insert market is segmented into round, square, triangle, rhombic, and others. The rhombic segment held 43.0% market share in 2023, amassing US$ 1,486.09 million. It is projected to garner US$ 2,525.38 million by 2031 to register 6.9% CAGR during 2023–2031.

By application, the Asia Pacific indexable insert market is segmented into milling, drilling, turning, threading, and others. The milling segment held 33.0% share of Asia Pacific indexable insert market in 2023, amassing US$ 1,139.95 million. It is projected to garner US$ 1,910.70 million by 2031 to expand at 6.7% CAGR from 2023 to 2031.

In terms of size, the Asia Pacific indexable insert market is categorized into upto 10 mm, 10-20 mm, and above 20 mm. The upto 10 mm segment held 44.0% share of Asia Pacific indexable insert market in 2023, amassing US$ 1,522.38 million. It is projected to garner US$ 2600.73 million by 2031 to expand at 6.9% CAGR from 2023 to 2031.

Based on insert material, the Asia Pacific indexable insert market is segmented into carbide, ceramic and composites, PCD inserts, and others. The carbide segment held 53.8% market share in 2023, amassing US$ 1,858.93 million. It is projected to garner US$ 3,174.29 million by 2031 to register 6.9% CAGR during 2023–2031

Based on industry, the Asia Pacific indexable insert market is segmented into aerospace and defense, general industry, oil and gas, power generation, automotive, electrics and electronics, medical, and others. The general industry segment held 23.3% market share in 2023, amassing US$ 806.04 million. It is projected to garner US$ 1,398.87 million by 2031 to register 7.1% CAGR during 2023–2031

Based on country, the Asia Pacific indexable insert market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.5% share of Asia Pacific indexable insert market in 2023. It was assessed at US$ 1,261.16 million in 2023 and is likely to hit US$ 2,302.75 million by 2031, registering a CAGR of 7.8% during 2023 to 2031.

Key players operating in the indexable insert market are Sandvik AB; Kennametal Inc; ISCAR LTD; Hartmetall-Werkzeugfabrik Paul Horn GmbH; Kyocera Corporation; Ingersoll Rand Inc; Zhuzhou Cemented Carbide Cutting Tools Co., Ltd; Mitsubishi Materials Corporation; Gühring KG; YG-1 Co., Ltd; CERATIZIT S.A; and Boehlerit GmbH & Co.KG, among others.

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