Press release
Tool Steel Market Size, Share, Price | Industry Report 2021
Tool Steel
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The tool steel market is projected to grow from USD 2.13 billion in 2016 to USD 2.77 billion by 2021, at a CAGR of 5.3% between 2016 and 2021. Increasing demand for machinery made of tool steels from various end-use industries, such as automotive, aerospace, and plastics, among others is expected to drive the demand for tool steels during the forecast period, thereby fueling the growth of the tool steel market during the forecast period. The major restraint for the tool steel market is the increasing use of carbide-based cutting tools in various end-use industries.
Among product types, the metal cutting tools segment of the tool steel market is projected to grow at the highest CAGR during the forecast period. The growth of the metal cutting tools segment of the market can be attributed to the fact that metal cutting tools made from tool steels ensure effective manufacturing of critical and complex components with ease and utmost accuracy.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 – 10%, Tier 2 – 40%, and Tier 3 – 50%
• By Designation: C Level – 45%, Director Level – 23%, and Others – 32%
• By Region: North America – 16%, Europe – 21%, Asia-Pacific – 53%, and Middle East & Africa –10%
Research Coverage:
This report offers an overview of the market trends, drivers, and challenges with respect to the tool steel market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the tool steel market on the basis of product type, end-use industry, and region. A detailed analysis of leading players, along with key growth strategies adopted by them, is also covered in the report.
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Key points from table of content:
Company Profiles :
(Overview, Products & Services, Strategies & Insights, Developments)*
• Nachi-Fujikoshi Corporation
• Daido Steel Co., Ltd.
• Voestalpine AG
• Sandvik Materials Technology AB
• Kennametal Inc.
• Hudson Tool Steel Corporation
• Erasteel
• Friedr. Lohmann GmbH
• Arcelormittal S.A.
• Thyssenkrupp AG
• Tiangong International Co., Ltd.
• Guhring Inc.
• Heye Special Steel Co., Ltd.
• Nippon Koshuha Steel Co., Ltd.
• OSG Corporation
• Carpenter
• Graphite India Limited
• Tivoly SA
• Crucible Industries LLC
• Dneprospetsstal
• Jiangsu Fuda Special Steel Co., Ltd
• Feida Group
• West Yorkshire Steel Co. Ltd.
• Big Kaiser Precision Tooling Inc.
• Onsurd
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