ISCAR, the largest of the 15 companies comprising Berkshire Hathaway’s IMC (International Metalworking Companies) will benefit from a projected robust market for boring tools over the next five years.
IMC’s companies produce a wide range of carbide inserts, carbide endmills and cutting tools, covering most metal cutting applications.
In a new TechNavio report, “Global Boring Tools Market 2017-2021,” Technavio’s analysts forecast the global boring tools market to grow at a CAGR of 7.27% during the period 2017-2021.
The report notes that a key driver of the demand for boring tools is the demand for fabricated metal in the automotive sector.
The report notes that “the major growth in the boring tools will be seen in key APAC countries such as China and India. South Korea and other emerging economies are growing at a higher rate when compared with the matured markets in the Americas and EMEA.”
The total metal cutting tools market, which includes boring tools, was valued at $36.04 billion in 2016.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.