Rapid Growth of High Speed Steel Market | Top Key Players - Sandvik AB, Nachi-Fujikoshi, Tiangong International, OSG | Global Forecasts 2018 - 2023

Marketprognosis.com Publish a New Market Research Report On “High Speed Steel Market - Trends, and Forecast (2018 - 2023)” which contains global key player’s survey information and forecast to 2023.

Overview of the Global High Speed Steel Market:

The Global High Speed Steel Market is expected to witness a moderate growth during the forecasted period, 2018-2023. The growth of the market is majorly driven by the increasing demand from various end-user industries such as automotive, aerospace and others, across the world. In 2017, Asia-Pacific accounted for the largest market, followed by North America and Europe.

The cutting tool materials need a number of important properties so that they can avoid excessive wear, fracture failure and high temperatures in cutting. The demand for high speed steel (HSS) is growing for manufacturing cutting tools due to its properties such as high working hardness, high wear hardness, durability, and good retention of hardness. The use of HSS has increased the cutting speed by four times in comparison to the previously used carbon steels. The alloying elements of HSS also make the steel harder and more heat resistant. These properties are driving the demand for high speed steel during the forecast period.

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The use of high speed steel, owing to its high toughness, high strength and wear resistance at high temperature and excellent erosion resistance, is increasing in automotive industry in recent times. HSS is used as special cutting tools, gear cutting tools, standard cutting tools, which includes drills, end mills, and taps, among others. For cutting tools, hardness is necessary for cutting harder materials and it is also gives better tool life. Owing to these, both the production and consumption of HSS is expected to increase in many countries in emerging economies during the forecast period. .

Geographically, Asia-Pacific holds the highest marker for high speed steel in 2017. China is the largest market for high speed steel in the region. The aerospace industry is another major industry of the country and the government investing huge amounts to increase its domestic manufacturing capabilities. Additionally, automotive is one of the country’s pillar industries, and it continues to be the largest vehicles market in the world. The country registered automotive sales of 29,122,531 during the year 2017 with an increase of 3.9% from past year, and hence driving the demand for high speed steel in the region.

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Major Key Players:

1 Sandvik AB.

2 Nachi-Fujikoshi Corporation.

3 Tiangong International Co., Ltd.

4 OSG Corporation.

5 JIANGSU FEIDA TOOL GROUP CORPORATION.

This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What are the challenges to market growth?

4 Who are the key players in this market?

5 What are the market opportunities and threats faced by the key players?

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In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of High Speed Steel Market.

Table of Contents:

1 Introduction

2 Executive Summary

3 Market Insights

4 Market Dynamics

5 Market Segmentation and Analysis (Growth, Size, and Forecast)

6 Regional Market Analysis (Market Size, Growth, and Forecast)

7 Competitive Landscape

8 Company Profiles

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This release was published on openPR.