Tool Steel Market Analysis and Forecast 2023 | Global Key Players 2019 – Nachi-Fujikoshi, Voestalpine AG, Sandvik, Baosteel Group, Samuel, Son & Co, Hitachi Metal, Eramet SA, Schmiedewerke Gröditz

Pune, India, 2019 /press release/- Market Research Future Published a Cooked Research Report on Global Tool Steel Market Research Report.

Market Insights

Tool steel is extensively used and refers to a wide range of carbon and allow steels that are used in the making of various tools. The global tool steel market which was valued at USD 4.17 billion in 2016, is expected to reach an approximate evaluation of USD 5.86 billion by 2023 and achieve a moderate CAGR of 5.05% during the forecast period of 2017 to 2023. These projections have been made by Market Research Future (MRFR) in their latest report on the global tool steel market.

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Market Segmentation

The Asia-Pacific region leads the global market with a share of over 60%. Countries such as China, Japan, and India lead the region's growth. The widespread industrialization in the region is a key factor contributing to its leading market position. The abundant availability of raw materials are efficient prices, and cheap labor combined with overall reduced operating costs have attracted international players to set up manufacturing units to rival the existing market leaders in the region.

Europe and North America respectively, have the second and third largest shares of the global market with North America estimated to grow at a CAGR 4.57% during the forecast period. This is due to the fact that North America is one of the biggest producers of steel and tool steel. Additionally, the growing automotive sector and increasing industrialization are set to drive growth for the region in the coming years.

Key Players

Market leading players employ various market strategies including geographic expansions, mergers, and acquisitions in an effort to facilitate further market growth as well as to strengthen their positions in the competitive landscape of the global tool steel market. Key players analyzed in MRFR's report include Voestalpine AG, Sandvik, Baosteel Group, Nachi Fujikoshi Corp, Samuel, Son & Co., Eramet SA, Universal Stainless, Hudson Tool Steel Corporation, GERDAU S.A, Pennsylvania Steel Company and Hitachi Metal among others.

Regional Analysis

The global tool steel market is segmented on the basis of type, format type, application, process, and region. By type, the market is segmented into high-speed tool steel, metal cutting, alloy tool steel, and carbon tool steel. Among these, metal cutting accounts for close to a third of the total market, due to the extensive use of tool steel in the manufacturing of metal cutting tools owing to the superior qualities the material possesses. By format type, the market is segmented into round, square, and others. By applications, the market is segmented into automotive, machinery, and shipbuilding. The automotive segment leads the market with the most significant share due to the high demand for automotive vehicles across the globe. By process, the market is segmented into rolled and forged. By region, the global market is segmented into North America, Asia-Pacific, Europe and the Rest of the World.

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Table of Contents

1 Executive Summary

2 Introduction

3 Research Methodology

4 Market Dynamics

5 Global Tool Steel Market, By Type

6 Global Tool Steel Market, By Format Type

7 Global Tool Steel Market, By Application

8 Global Tool Steel Market, By Process

9 Global Tool Steel Market, By Region

10 Company Profiles

List of Tables

TABLE 1 GLOBAL TOOL STEEL MARKET, BY TYPE, 2015-2023

TABLE 2 GLOBAL TOOL STEEL MARKET, BY FORMAT TYPE, 2015-2023

TABLE 3 GLOBAL TOOL STEEL MARKET FOR ROUND, BY APPLICATION, 2015-2023

TABLE 4 GLOBAL TOOL STEEL MARKET FOR SQUARE, BY APPLICATION, 2015-2023

TABLE 5 GLOBAL TOOL STEEL MARKET FOR OTHERS, BY APPLICATION, 2015-2023
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List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 PRICE TREND FOR STEEL 2014-2016

FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL TOOL STEEL MARKET

Continued…….

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This release was published on openPR.