Press release
Tool Steel Market 2019 To 2023 Analysis: Global Major Players - Nachi-Fujikoshi, Voestalpine, Sandvik, Baosteel, Samuel, Son & Co, Hitachi Metal, Eramet SA, Schmiedewerke Gröditz
Tool Steel Market
Competitive Landscape:
Hudson Tool Steel Corporation (US), GERDAU S.A (Brazil) and Pennsylvania Steel Company (US), Eramet SA (France), Voestalpine AG (Austria), Nachi-Fujikoshi Corp (Japan), Sandvik (Sweden), Universal Stainless (US), QiLu Special Steel Co,.Ltd (China), Samuel, Son & Co (Canada), Schmiedewerke Gröditz (Germany), Baosteel Group (China), and Hitachi Metal (Japan) are the key players in the global tool steel market.
Get Free Sample Report of Tool Steel Market at: https://www.marketresearchfuture.com/sample_request/2754
Segmentation:
The global tool steel market has been segmented based on type, format type, application, and process.
By type, the global tool steel market has been segmented into metal cutting, alloy tool steel, high-speed tool steel, and carbon tool steel and others. The metal cutting segment held the largest share of 30.11% in 2016.
By format type, the global tool steel market has been segmented into round, square and others. The round segment accounted for the largest share of 47.4% in 2016 and was followed by the square segment.
By application, the global tool steel market has been segmented into automotive, machinery, shipbuilding and others. The automotive segment accounted for the largest market share of 30.22% in 2016 and was followed by the machinery and shipbuilding segment.
By process, the global tool steel market has been segmented into forged and rolled.
The global tool steel market is anticipated to attain a valuation of USD 5,861.6 Mn by the end of 2023 at a CAGR of 5.05% over the forecast period of 2017-2023, projects market Research Future (MRFR) in an extensive study. The global tool steel market was valued at USD 4,178.1 Mn in 2016.
Tool steel refers to carbon and alloy steel which are ideally used for making tools. They exhibit various superior properties and are generally used in the manufacture of cutting tools, gear cutters, saw blades, tool bits, milling cutters, and other tools. Increase in demand for such tools contributes considerably to the growth of the global tool steel market. Tool steel finds application in diverse industries for a variety of purposes. They are resistant to wear, possess high thermal conductivity, hardenability, and excellent polishing and acid treatment properties owing to which they experience heightened demand from industries such as automotive, mechanical & plant engineering, packaging, mining, and others. The automotive industry is a major end-user of tool steel where it is the preferred material for the production of automotive parts. Rising demand for automobiles is a contributing factor to the growth of the global tool steel market. Other boosting factors include growing construction activities in the emerging economies, rapid industrialization across the globe and product innovation as a result of continuous R&D activities.
Regional Analysis:
Geographically, the global tool steel market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).
APAC commands the highest position in the global tool steel market with more than 60% share of the market. Rapid industrialization in the region is a significant factor in driving the growth of the AAC market. Availability of raw materials in abundance, relatively cheap labor, and favorable policies result in the reduction of overall operating costs. This has attracted various international players to set up their manufacturing capabilities in the region which is likely to generate demand in the market. The APAC tool steel market is led by countries such as India, Japan, and China.
Europe is the second largest market for tool steel followed by North America. Established automotive sector and steady industrialization in these regions support market growth. North America is one of the largest producers of steel and tool steel and is anticipated to expand at a CAGR of 4.57% over the forecast period.
Industry Updates:
In December 2018, Markforged announced the launch of H13 tool steel for its metal additive manufacturing platform, the Metal X. The new tool steel exhibits excellent red hardness, resistance to thermal fatigue, high ductility, toughness, and abrasion resistance.
Get Complete Report Details of Tool Steel Market at: https://www.marketresearchfuture.com/reports/tool-steel-market-2754
Continued…….
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.
Address:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Tool Steel Market 2019 To 2023 Analysis: Global Major Players - Nachi-Fujikoshi, Voestalpine, Sandvik, Baosteel, Samuel, Son & Co, Hitachi Metal, Eramet SA, Schmiedewerke Gröditz here
News-ID: 1656967 • Views: …
More Releases from Market Research Future
9-Decanoic Acid Methyl Ester Market Poised for Strong 6.59% CAGR Growth Through …
The 9-decanoic acid methyl ester market is a growing sector driven by the increasing demand for bio-based and sustainable chemical products across various industries. With its unique properties, it finds application in flavors and fragrances, pharmaceuticals, personal care, and as a chemical intermediate. The market is projected to expand significantly in the coming years.
Market Overview and Size
The global 9-decanoic acid methyl ester market was valued at USD 230.0 million in…
Washable Marker Market Poised for 3.54% CAGR Growth During 2024-2032
The washable marker market is a dynamic and growing segment within the broader stationery and art supplies industry. Driven by a blend of consumer demands for safety, convenience, and sustainability, the market is experiencing consistent expansion, particularly within the education and home-use sectors. While faced with some challenges, the industry's future looks promising, propelled by product innovation and evolving consumer trends.
Get Sample @ https://www.marketresearchfuture.com/sample_request/41217
Market Size and Growth
The global washable…
Phone Car Mounts Market to Reach USD 7.37 Billion by 2034, Growing at 6.47% CAGR
The phone car mounts market, a critical sub-segment of the broader automotive accessories industry, is experiencing robust growth driven by a convergence of technological advancements, evolving consumer behavior, and increasingly stringent road safety regulations. As smartphones become indispensable for navigation, communication, and in-car entertainment, the demand for secure and convenient hands-free solutions continues to escalate. The global phone car mounts market was valued at USD 3.93 billion in 2024 and…
Intravenous (IV) Solution Market Set to Grow to USD 26.60 Billion at 7.70% CAGR …
Market Overview:
The Intravenous (IV) Solution Market is estimated to be valued at USD 13.9 billion in 2023 and is projected to reach USD 26.60 billion by 2032, expanding at a compound annual growth rate (CAGR) of 7.70% from 2024 to 2031. The market growth is attributed to the rising prevalence of chronic diseases, growing hospitalization rates, and increasing surgical procedures that require IV fluid administration. Intravenous solutions are critical…
More Releases for Tool
Data Annotation Tool Market Data Annotation Tool Market
The study on the Global Data Annotation Tool Market published by Fact.MR is a comprehensive analysis of the key factors that are likely to determine the growth of Data Annotation Tool Market in the upcoming years. Further, the study dives deep to investigate the micro and macro-economic parameters that are expected to influence the global scenario of the Data Annotation Tool Market during the forecast period (2022-2031).
The report examines the…
Research Report and Overview on Titanium Carbide Tool Market, 2020-2026 with Mit …
"Global Titanium Carbide Tool Industry Research Report” Provides Detailed Insight Covering all Important Parameters Including Development Trends, Challenges, Opportunities, Key Insights and Competitive Analysis of Titanium Carbide Tool Market.
COVID-19 can affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.
To know How COVID-19 Pandemic will impact this market/industry-DOWNLOAD sample…
Aluminum Carbide Tool Market Trend, Segmentation and Forecast to 2025| Mitsubish …
High speed steel tools and carbide tools are widely used machine tools. From which carbide tools are most popular for machining applications. Carbide tools have exceptional characteristics like wear resistance, material strength, chemical inertness and other superior properties.
The Aluminum Carbide Tool market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In…
Titanium Carbide Tool Market Size Study and Regional Forecasts 2019-2025| Mitsub …
High speed steel tools and carbide tools are widely used machine tools. From which carbide tools are most popular for machining applications. Carbide tools have exceptional characteristics like wear resistance, material strength, chemical inertness and other superior properties.
The Titanium Carbide Tool market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In…
What's driving the Solid Carbide Tool Market growth? Key Players are: Mitsubishi …
The worldwide market for Solid Carbide Tool is expected to grow at a CAGR of roughly over the next five years, will reach million US$ in 2024, from million US$ in 2019, according to a new Big Market Research study.
Get Discount Sample @ https://www.bigmarketresearch.com/request-for-discount/3009309?utm_source=SBL
This report focuses on the Solid Carbide Tool in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes…
Global Knurling Tool Market 2018-2025 Aloris Tool, Dorian Tool, Sassatelli
Recently added detailed market study "Global Knurling Tool Market" examines the performance of the Knurling Tool market 2018. It encloses an in-depth Research of the Knurling Tool market state and the competitive landscape globally. This report analyzes the potential of Knurling Tool market in the present and the future prospects from various angles in detail.
The Global Knurling Tool Market 2018 report includes Knurling Tool market Revenue, market Share, Knurling Tool…
