Tool Steel Market

Gain valuable insights into the market for Tool Steel, including sales outlook, demand forecast, and up-to-date key trends

Innovative Grades and Applications for High Performance Tools

Category: Chemicals & Materials

|

ID: CVC-43679

|

Format: PDF+Excel Dataset

|

Published Date: Feb-23

|

Pages: 275

Report Highlights

According to a research survey conducted by ChemView Consulting, Tool Steel Market is estimated to be worth US$ 1,599.81 Mn in 2023. The market is expected to grow at a CAGR of 4.50% between 2023 and 2033 to hit US$ 2,484.46 Mn by 2033 end.

Key Market Trends

The Rise of Powder Metallurgy

In recent years, the tool steel industry has seen a surge in the use of powder metallurgy, a process that involves atomizing molten steel and then compressing the resulting powder to create a dense, high-strength material. This technology allows for the production of tool steels with superior properties compared to traditional cast and forged steels, including increased hardness, toughness, and wear resistance. As more manufacturers adopt powder metallurgy in their tool steel production, the industry is poised for a major shift towards advanced materials.

Smart Steel: The Future of Tool Steel Manufacturing

Advances in sensor technology, data analytics, and machine learning are paving the way for the development of “smart” tool steels that can adapt to changing working conditions in real time. By embedding sensors into the steel, manufacturers can monitor parameters like temperature, stress, and strain, and adjust the material properties accordingly. This allows for improved performance, longer tool life, and reduced downtime. With the increasing adoption of Industry 4.0 technologies, the tool steel market is on the brink of a major transformation towards intelligent, data-driven manufacturing.

Market Drivers

Growing Industrialization and Infrastructure Development Driving Tool Steel Market

The tool steel market is expected to witness significant growth in the coming years, driven by the rapidly growing industrialization and infrastructure development across the globe. With increasing demand for high-performance tools and machinery in various industrial sectors, the demand for tool steel is also on the rise. Another important driver of the tool steel market is the increasing demand from the automotive industry. Tool steel is extensively used in the production of automotive parts and components, including engine parts, gears, and shafts, among others. The growing demand for high-performance vehicles, coupled with the increasing adoption of electric and hybrid vehicles, is expected to drive the demand for tool steel in the automotive industry.

Advancements in Tool Steel Technology Driving the Market

The tool steel market is witnessing rapid technological advancements, which are expected to drive the market growth in the coming years. With the advent of new technologies, manufacturers are now able to produce high-quality and high-performance tool steel products that offer better durability, wear resistance, and toughness. Nanostructured tool steels are also lightweight and have excellent thermal stability, which makes them suitable for use in high-temperature applications.

Segmentation Insights

After conducting a thorough analysis of the Tool Steel Market, we have identified the top three trending segments in the industry. These segments are experiencing high demand, strong market growth, and widespread adoption.

Most Popular (Fastest Growth Rate)

Cold-Work Tool Steel – General Manufacturing

Cold-Work Tool Steel has emerged as the most popular choice in the Tool Steel Market for General Manufacturing. These steels are used in a wide range of applications, such as blanking and forming dies, punches, and shear blades, due to their high strength, toughness, and wear resistance. The versatility and reliability of cold-work tool steel make them the preferred choice for consumers seeking efficient and long-lasting solutions in the general manufacturing industry.

Most Selling (Largest Market Share)

Hot-Working Tool Steel – Automotive Industry

Hot-Working Tool Steel is the most selling product in the Tool Steel Market for the Automotive Industry. These steels are used in high-temperature applications, such as die casting and forging, due to their excellent thermal stability, toughness, and wear resistance. The high-performance and durability of hot-working tool steel make them the go-to choice for consumers seeking reliable and effective solutions in the automotive industry.

Trending (Gaining Traction)

Special Purpose Tool Steel – Defense and Aerospace Industry

Special Purpose Tool Steel is gaining significant traction in the Tool Steel Market for the Defense and Aerospace Industry. These steels are designed to withstand extreme conditions, such as high stress and temperature, and are used in critical applications such as aircraft components, missile systems, and military equipment. The exceptional strength, toughness, and corrosion resistance of special purpose tool steel make them the trending choice for consumers seeking high-quality solutions in the defense and aerospace industry.

Regional Insights

Rising Demand for Renewable Energy Drives Tool Steel Market in North America

The tool steel market in North America is being driven by the rising demand for renewable energy. Tool steel is an essential component of wind turbines, solar panels, and other renewable energy equipment. The increasing focus on reducing carbon emissions and transitioning to clean energy is driving the demand for tool steel in the region.

Growing demand from manufacturing sector drives Tool Steel market growth in the Asia Pacific

The Asia Pacific region is a significant contributor to the global Tool Steel market, driven by the growing demand from the manufacturing sector. Tool Steel is extensively used in various applications such as cutting, drilling, shaping, and forming of materials in the manufacturing industry. The increasing adoption of high-performance tools in the automotive, aerospace, and construction industries is fueling the growth of the Tool Steel market in the region.

Report Includes

Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

Competition Analysis

    • Market shares and production capacities of key players
    • Tier structure analysis of market
    • Comprehensive competition dashboard representing the top 10-15 players in the market
    • Individual company profiles of top 15 to 20 manufacturers
      • Business Overview
      • Product Portfolio
      • Key Financials
      • Recent Developments
      • SWOT Analysis
      • Strategies

Research Scope/Taxonomy
Market Analysis by Product Type:

  • Water-hardening
  • Cold-work
  • Shock-resisting
  • High speed
  • Hot-working
  • Special purpose

Market Analysis by End Use:

  • General Manufacturing
  • Automotive
  • Defense and Aerospace
  • Electronic & Electrical
  • Ship Building
  • Others

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

Key Companies Profiled

  • Hitachi Metals, Ltd.
  • Samuel, Son & Co., Limited
  • ERAMET group
  • Sandvik AB
  • Baosteel Co.,Ltd.
  • voestalpine High Performance Metals Corp.
  • SCHMOLZ + BICKENBACH
  • Buderus Edelstahl GmbH
  • Gloria Group

Why Choose CVC Market Research?;

  • Specialized market research company
  • Impeccable and deep industry expertise
  • Wide range of offerings
  • Robust research methodology and statistical models with least deviation
  • Extensive reports and full-service consulting
  • Expert panel sanctioned industry outlook
  • Growth dynamics for calculated investments
  • Tri-level quality guarantee
  • 6 months unlimited post-sales support
  • Regular planned and contracted report updates

1. Executive Summary
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definitions
3. Research Methodology
3.1. Preliminary Investigation & Research Design
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4. Key Emerging Trends Analysis
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5. Global Tool Steel Market Value (US$ Mn) and Volume (Tons) Analysis
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6. Global Tool Steel Market Pricing Analysis
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7. Cross-Sectional Analysis
7.1. Cross Analysis of Product Type W.R.T. End Use
8. Supply Vs. Demand Analysis
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9. Market Background
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw Material Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Technology Landscape
10. Global Tool Steel Market 2017 – 2032 By Product Type
10.1. Introduction
10.2. Key Market Trends
10.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Product Type [Value (US$ Mn) and Volume (Tons) Analysis]
10.3.1.
10.3.2. Water-hardening
10.3.3. Cold-work
10.3.4. Shock-resisting
10.3.5. High speed
10.3.6. Hot-working
10.3.7. Special purpose
10.4. Market Attractiveness Analysis by Product Type
11. Global Tool Steel Market 2017 – 2032 by End Use
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End Use [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. General Manufacturing
11.2.2. Automotive
11.2.3. Defense and Aerospace
11.2.4. Electronic & Electrical
11.2.5. Ship Building
11.2.6. Others
11.3. Market Attractiveness Analysis by End Use
12. Global Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
12.1. Introduction
12.2. Key Market Trends
12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia-Pacific
12.3.5. Middle East
12.3.6. Africa
12.4. Market Attractiveness Analysis by Region
13. North America Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Product Type
13.3.3. By End Use
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By End Use
14. Latin America Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Product Type
14.3.3. By End Use
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By End Use
15. Europe Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. UK
15.3.1.5. Spain
15.3.1.6. Netherlands
15.3.1.7. Norway
15.3.1.8. Russia
15.3.1.9. Rest of Europe
15.3.2. By Product Type
15.3.3. By End Use
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By End Use
16. Asia-Pacific Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.1.4. India
16.3.1.5. Indonesia
16.3.1.6. Thailand
16.3.1.7. Vietnam
16.3.1.8. Australia & New Zealand
16.3.1.9. Rest of Asia-Pacific
16.3.2. By Product Type
16.3.3. By End Use
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By End Use
17. Middle East Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
17.1. Introduction
17.2. Key Market Trends
17.3. Pricing Analysis
17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.4.1. By Country
17.4.1.1. Saudi Arabia
17.4.1.2. Turkey
17.4.1.3. U.A.E.
17.4.1.4. Rest of the Middle East
17.4.2. By Product Type
17.4.3. By End Use
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Product Type
17.5.3. By End Use
18. Africa Tool Steel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. South Africa
18.4.1.2. Nigeria
18.4.1.3. Egypt
18.4.1.4. Rest of Africa
18.4.2. By Product Type
18.4.3. By End Use
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Product Type
18.5.3. By End Use
19. Competition Analysis
19.1. Tier Structure Breakdown
19.2. Market Share Analysis
19.3. Product Type Capacity Analysis
19.4. Company Footprint Analysis
19.4.1. Product Footprint of Players
19.4.2. Regional Footprint of Players
19.4.3. Channel Footprint of Players
19.5. Brand Preference Analysis
19.6. Competition Dashboard
20. Company Profiles
20.1. Hitachi Metals, Ltd..
20.1.1. Company Overview
20.1.2. Product & Financial Portfolio
20.1.3. Manufacturing Facilities
20.1.4. Recent Developments
20.1.5. SWOT Analysis
20.1.6. Strategy Overview
20.2. Samuel, Son & Co., Limited
20.3. ERAMET group
20.4. Sandvik AB
20.5. Baosteel Co.,Ltd.
20.6. voestalpine High Performance Metals Corp.
20.7. SCHMOLZ + BICKENBACH
20.8. Buderus Edelstahl GmbH
20.9. Gloria Group
21. Assumptions and Acronyms

User License

Datapack Only
Report + Datapack

Only Pay for What You Need

Customize Your Report by Choosing Insights You Need and Pay Accordingly

Consulting Services

Allow Us to Create and Deliver an Engagement That Exactly Meets Your Requirements and Expectations

We Accept

Chem view Chem view Chem View Chem view
Chem View

Safe & Secure Payments

Let us Help You!

Facing issues finding the exact research to meet your business needs? Let us help you! One of our Research Executives will help you locate the research study that will answer your concerns.

Connect with Us!

    Let us Help you!

    Facing issues finding the exact research to meet your business needs? Let us help you! One of our Research Executives will help you locate the research study that will answer your concerns.

    Speak to Analyst

    Connect with Us!