“According to SNS Insider Research, The CNC Machine Tools Market size was valued at USD 95.29 billion in 2023. It is expected to grow to USD 141.61 billion by 2032, with a compound annual growth rate (CAGR) of 4.5% over the forecast period from 2024 to 2032.”

Cemented carbide is a key component in high-quality drill bits. One important ingredient in the manufacturing is tungsten, a rare mineral difficult to come by. Through Terelion’s Circularity program, it is now possible to recycle all cemented carbide inserts on a drill bit back to virgin material – pure tungsten – which can then be used in manufacturing new cemented carbide inserts. Tools from recycled solid carbide require 70% less energy which results in 40% less CO2 emissions.

Rio Tinto Kennecott’s (Salt Lake City, USA) site has joined Terelion’s Circularity Program in what the drill bits company says marks a significant milestone in delivering on its ambitious goal of achieving circularity throughout the whole value chain.

In May 2023: DMG MORI introduced the latest additive manufacturing device, the LASERTEC SLM 30 US. This device includes adjustable beam control and a recoating method that does not require contact. It provides various major improvements such as a hybrid toolpath strategy, dynamic adjustments to laser power, laser speed, and laser beam profile, all at the most competitive production cost in the industry. The LASERTEC 30 SLM US prioritizes cost-effective part production and dealing with complex shapes, offering a working area of 11.8 x 11.8 x 11.8 inches.

The growth of metalworking industries worldwide has played a major role in the rising need for CNC machine tools, particularly milling machines. These machines offer various functions, allowing for versatility in tasks such as filleting, turning, chamfering, drilling, and gear cutting. Additionally, CNC machines can make multiple cuts with different cutters, making them indispensable in sectors like automotive, aerospace, defense, and railways. CNC technology is projected to be the primary force in the global machine tools market, with the sector holding a significant market share and expected to expand further in the coming years. Manufacturing companies are increasingly demanding enhanced productivity and product innovation, which drives the growth of the CNC machine tools market. The rapid expansion of the manufacturing industry has led to a higher demand for advanced CNC machines. By automating machine tool operations, CNC technology provides benefits like improved efficiency, time savings, and the prevention of human errors. Modern CAD/CAM CNC machines are compact and equipped with automatic tool changers, multi-axis machining technology, and the ability to complete the entire machining process with a single machine. These technological advancements simplify machining processes, making CNC machines the preferred choice in contemporary manufacturing settings.

The used products are collected on site at Kennecott and transported to a partner where the dull tungsten carbide drill bits are separated from the steel. The used carbide inserts are then sent to a process plant in Austria where they are transformed back to its original powder form, and then made into new tungsten carbide inserts that are used as the raw material for making new drill bits.

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A ceremony taking place at the Rio Tinto Kennecott Mine on May 23, 2023, marked the start of the circularity program between the two companies.

The process of separating cemented carbide inserts from the steel body of the drill bit is done through an elaborate heating process. The inserts are then gathered and shipped to Terelion’s recycling partner – saving more than 90% of shipping emissions in the process (compared to shipping the complete drill bits).

Graeme McKenzie, Operations Director at Terelion, said: “At Terelion, we are committed to working towards a more sustainable mining future. Doing so will benefit all: our planet, our customers and our business. Our aim is 90% circularity by 2030. Key in achieving this is our Circularity Program. We are very happy that Rio Tinto Kennecott shares this ambition and has decided to join our program – a clear testament also to their commitment in this area. We look forward to a successful partnership that ultimately encourages others to join this exciting initiative.”

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August 13, 2024 09:07 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd

Rio Tinto Kennecott General Manager Minerals, Brendan Murphy, said: “We’re always looking for new and inventive ways to reduce our carbon footprint and cut waste. We are excited to support this innovative circularity program and look forward to seeing the difference it can make.”

By Industry Segment: In 2023, the automotive and transportation sector dominated the market with a majority share of 42.02%, driven by the increased need for quicker production of more efficient components in the automotive industry. CNC machines are essential in manufacturing various components, including suspension parts, car combustion engines, exhaust systems, lights, bushings, fluid system parts, and valve retainers. The automotive industry's demand for accuracy, precision, efficiency, and consistency has led to the growing use of CNC machines, making them indispensable in this field.

In 2023, the Asia Pacific region dominated the CNC Machine Tools Market with a 38% share. This region plays a crucial role in the global CNC machine industry, both in manufacturing and distribution. The increasing number of elderly individuals in China and Japan has led to rising labor costs, driving the adoption of automation. Additionally, the growing population in the Asia Pacific region is attracting significant investments from companies looking to capitalize on the expanding market. The region's dominance is further reinforced by its strong industrial base, government support for advanced manufacturing technologies, and a large pool of skilled labor.

Asia Pacific Leads CNC Machine Tools Market in 2023 with 38% Share, Driven by Automation and Strategic Investments.

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By Product Type: In 2023, milling machines held the largest market share of 45%, primarily utilized for metal cutting across various industries. The growing demand for metalworking industries worldwide has increased the need for milling machines. These machines are highly versatile and can perform various tasks such as filleting, turning, chamfering, drilling, and gear cutting. They are also capable of making multiple cuts with various cutters. The benefits of milling machines make them well-suited for sectors like automotive, aerospace, defense, and railways, where precision and efficiency are paramount.

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The Terelion Circularity program for tungsten carbide drill bits at the Rio Tinto Kennecott mine is estimated to reduce CO2 emissions related to carbide drill bits by 64%. The energy consumption will be reduced by 70% compared with sourcing tungsten carbide via conventional mining methods.

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Milling Machines and CNC Technology Drive Precision and Efficiency in Automotive and Metalworking Industries