Press release
Tool Steel Market Size, Share, Analysis, Industry Demand and Forecast to 2023
Tool Steel Market
Tool Steel refers to a wide range of carbon and alloy steels which are well-suited to be converted into tools. Tool steels are known for their hardness, deformation and resistance to abrasion.
One of the key drivers for the growth of Tool steel market is the increase in the demand for tool steels for manufacturing various cutting tools, such as tool bits, drills, taps, gear cutters, saw blades, planers, jointer blades, milling cutters, router bits, punches, and dies, among others. Tool steel provides certain benefits such as high resistance to wear, good thermal conductivity and good hardenability, cost-effective machinability and excellent polishing and acid-treatment properties. These properties makes tool steel suitable for use by various end use industries including Automotive industry, Mechanical and plant engineering, Power-generation, Aviation, Food and packaging industry, Structural and civil engineering and Mining, thereby driving the growth of the market.
The Tool steel market is expected to grow with the CAGR of approximately 5% from 2016 to 2023.
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Key Players:
The key players of Tool steel market are Voestalpine AG (Austria), Sandvik AB (Sweden), Fushun Special Steel Co., Ltd. (China), Baowu Steel Group Corp., Ltd. (China), Nachi-Fujikoshi Corp. (Japan), QiLu Special Steel Co,.Ltd (China), Hitachi, Ltd. (Japan), Eramet S.A. (France) , Universal Stainless (U.S.) and Hudson Tool Steel Corporation (U.S.) among others.
Market Research Analysis:
Asia-pacific region is expected to be the fastest growing region in the Tool steel market. The growth of the market can be attributed to emerging economies in China and India, along with growing applications of tool steel in the energy, metal manufacturing & fabrication, construction, and automotive industries. The growth of this region can also be attributed to factors such as booming automobile industry. The existence of major players in the region which are into the manufacturing of tool steel such as Fushun Special Steel Co., Ltd., QiLu Special Steel Co. Ltd. and Hitachi, Ltd. Among others also contribute to the growth of the market in the Asia-Pacific region.
Scope of the Report:
This study provides an overview of the global Tool steel market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Tool steel market by its type, application and region.
By Type
• High Speed Tool Steel
• Carbon Tool Steel
• Alloy Tool Steel
• Metal Cutting
• Others
By Application
• Shipbuilding
• Automotive
• Machinery
• Others
By Region
• North America
• Asia Pacific
• Europe
• Rest of the World
Brief TOC:
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Tool Steel Market, By Type
4.1 High Speed Tool Steel
4.2 Carbon Tool Steel
4.3 Alloy Tool Steel
4.4 Metal Cutting
4.5 Others
Continue…
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List of Tables
Table 1 Global Tool Steel Market, By Type
Table 2 Global Tool Steel Market, By Application
Table 3 Global Tool Steel Market, By Regions
Table 4 North America Tool Steel Market, By Country
Table 5 north America Tool Steel Market, By Type
Table 6 North America Tool Steel Market, By Application
Table 7 U.S. Tool Steel Market, By Type
Continue…
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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