Bespoke bits can be reground by OEMs to bring them back into the original tolerances, for example expensive carbide and diamond cutting tools can be reground three or four times, normally at 30-50% of their original cost, so greatly reducing overall cost for the tool over its entire service lifetime. Mass produced bits are remanufactured by a large number of third party regrinders. This lower end of the market is affected by increasing imports of cheap tool bits where the cost of a new tool is so low that regrinding has a negligible economic benefit.

You may also be interested in the companion report on machine tools.