Global Market Analysis Demand of “High Speed Steels” In The Shipbuilding And Energy Sectors in 2017

Data Bridge Market Research provides new industry report "global high speed steels market” accounted for USD 2.20billion in 2016 and is projected to grow at a CAGR of 5.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global High Speed Steels Market, By Product Type {Metal Cutting Tools (Drill Bits, Broaches & Reamers, Taps, End Mills), Cold Working Tools (Blanking & Fine Blanking Tools, Extrusion Tools, Drawing & Deep Drawing Tools, Others)}, By End-Use Industry (Automotive, Plastic, Aerospace, Energy, Others) – Industry Trends and Forecast to 2024

Major Market Drivers and Restraints:

• Increasing demand for high speed steels for manufacturing cutting tools
• Demand of high speed steels in the shipbuilding and energy sectors
• Growing awareness about the advantages of high speed steel

High speed steels are high-performance special steels offering high hardness at temperatures up to 500°C and high wear resistance. These properties are courtesy alloying elements such as tungsten, molybdenum, vanadium and chromium which are able to form carbides. Growing demand for high speed steels in automotive, plastic, aerospace and energy sectors are expected to be major drivers of the market over the next seven years.
Market Segmentation:

The high speed steels market is segmented on the basis of product type into metal cutting tools, cold working tools, and others. Metal cutting tools are further sub segmented into drill bits, broaches & reamers, taps and end mills. Cold working tools are further sub segmented into blanking & fine blanking tools, extrusion tools, drawing & deep drawing tools and others.

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On the basis of application, the market is segmented intocoatings, construction, adhesives, composites, wind energy, electrical & electronicsand others.

Competitive Analysis:

The global high speed steels market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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Major Market Competitors:

Some of the major players in high speed steels market includeNachi-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., Onsurdand many more.

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