Tool Steel Market In-depth Analysis Report, Covering Companies Like Nachi-Fujikoshi Corp, Voestalpine AG, Sandvik, Baosteel Group, Hitachi Metal, Eramet SA

Tool Steel Market In-depth Analysis Report, Covering Companies Like Nachi-Fujikoshi Corp, Voestalpine AG, Sandvik, Baosteel Group, Hitachi Metal, Eramet SA

Tool Steel is a wide range of carbon and alloy steels that are well-suited to be converted into tools. Tool steels are known for their hardness, deformation, and resistance to abrasion.

Market Snapshot

This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Tool Steel market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.

The global tool steel market is expected to grow from USD 4,886 million in 2019 to USD 6,583 million by 2026, registering a CAGR of 4.35% from 2019 to 2026.

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Competitive Landscape

Nachi-Fujikoshi Corp

Voestalpine AG

Sandvik

Baosteel Group

Hitachi Metal

Eramet SA

Schmiedewerke Gröditz

Universal Stainless

QiLu Special Steel Co,.Ltd

Hudson Tool Steel Corporation

GERDAU S.A

Pennsylvania Steel Company

Growth Driver

The rising demand for commercial and residential buildings may accelerate the growth of the tool steel market. Growing demand for forged metals from factory automation, defense, automotive and aerospace industries are also likely to promote this market’s growth. Furthermore, tool steel offers various benefits such as high strength, hardness, durability, and resistance to cracking, & high temperature which increases its suitability for forging processes, building insulation, roofing, flooring, windows, and doors. These factors may further stimulate the market’s growth.

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Regional Overview

The Asia-Pacific is the global market leader at a share of 43.79%. North America is currently leading Europe with a share of 23.57% and 21.68%. China, Japan, India and U.S. are the major market for tool steel, which has generated huge revenue from the global market. The Asia-Pacific high-speed steels market is projected to grow at the highest CAGR during the forecast period This can be attributed to the high economic growth of the Asia-Pacific region as well as increased investments by various governments and leading market players in the Asia-Pacific region to carry out innovations in the field of high-speed steels. 

Type Overview

Important types of the product covered in this report include Round Format, Square Format, and Others.

Application Overview

Based on application, this market is divided into Automotive, Machinery, Shipbuilding, and Others.

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Target Audience:

•     Tool steel manufacturers

•     Tool steel potential investors

•     Small and Medium-sized Enterprises (SMEs)

•     Distributors and resellers of tool steel

•     Tool steel industry associations

•     Product managers, tool steel industry administrator, C-level executives of the industries

•     Market Research and consulting firms

• Base Year: 2018

• Estimated Year: 2019

• Forecast Period: 2019 to 2026

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