Market Overview:
The global hot working tool steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for automotive and machinery products, especially in developing countries. In terms of type, chromium hot work tool steels are expected to dominate the market during the forecast period, followed by tungsten and molybdenum tungsten hot work tool steels. The application segment for automotive is expected to grow at a higher CAGR than other applications during the forecast period. North America is estimated to be the largest regional market for hot working tool steel in 2018, followed by Europe and Asia Pacific.
Product Definition:
Hot Working Tool Steel is a grade of steel that is designed for use in tools that are subjected to high temperatures. The importance of this type of steel is that it can withstand the heat without becoming brittle or lose its shape. This allows the tool to remain effective even when it is being used in a hot environment.
Chromium Hot Work Tool Steels:
Chromium hot work tool steels are special alloys of steel that contain significant percentage of chromium as an alloying element. The addition of the metal to the steel enhances its properties such as wear resistance, hardness, and strength. It is widely used in applications where high wear resistance is required along with hardening and strengthening effect on tools or die.
Tungsten Hot Work Tool Steels:
Tungsten (W) is a very hard and brittle metal. It has high thermal conductivity, low electrical resistance, and good mechanical strength. Tungsten does not have any significant melting point as it gets heated to its boiling point of 3160 C which is lower than the temperature of steel (Celsius degrees). The tungsten hot work tool steels are used in the manufacturing industries for making cold working tools which are used for performing difficult tasks with great ease and accuracy.
Application Insights:
The automotive application segment accounted for the largest revenue share of over 40% in 2017. The growth can be attributed to the increasing demand for hot working tools in this sector. Automotive components and machinery made from tool steel offer better toughness, wear resistance, strength and hardness as compared to their counterparts made from conventional materials such as iron & steel or aluminum alloys. These properties make them suitable for use in automobile manufacturing plants around the world.
Hot working tool steels are also used extensively across shipbuilding applications owing to their superior mechanical properties required by ships' propellers and blades, which include high toughness, wear resistance and low maintenance cost when compared with other types of steels currently used worldwide.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for a share of over 45%. The region is expected to continue its dominance over the forecast period. This growth can be attributed to increasing industrialization, rising disposable income, and expanding manufacturing sector. In addition, rapid infrastructure development in emerging economies such as China and India will have a positive impact on industry growth.
The Asia Pacific is anticipated to register significant gains at a CAGR of XX% from 2018 to 2030 owing to growing demand for hot working tools in shipbuilding activities across countries such as China, Japan, South Korea & Taiwan. Moreover chromium-based hot work tool steels are extensively used in industries including automotive and machinery due their high durability & strength against heat treatment properties required by vehicle manufacturers across these countries resulting into an increased product consumption over the projected period which will drive industry expansion further.
Growth Factors:
- Increasing demand from automotive and aerospace industries
- Growing popularity of hot working tool steel in die and mold making applications
- Rising investments in research and development activities by key players to develop new grades of hot working tool steel
- Emergence of nanotechnology-based alloys that offer better wear resistance and toughness properties
- Technological advancements in forging, casting, and machining processes that are boosting the adoption of hot working tool steels
Scope Of The Report
Report Attributes
Report Details
Report Title
Hot Working Tool Steel Market Research Report
By Type
Chromium Hot Work Tool Steels, Tungsten Hot Work Tool Steels, Molybdenum Tungsten Hot Work Tool Steels
By Application
Automotive, Shipbuilding, Machinery, Others
By Companies
Voestalpine, SCHMOLZ + BICKENBACH, Fushun Special Steel, BaoSteel, TG, Nachi-Fujikoshi, Qilu Special Steel, Hitachi, ERAMET, Daido Steel, Sanyo Special Steel, Baowu, Nippon Koshuha Steel, Crucible Industries, ArcelorMittal, GMH Gruppe, Kind & Co., Universal Stainless, Hudson Tool Steel, Otai Special Steel
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Hot Working Tool Steel Market Report Segments:
The global Hot Working Tool Steel market is segmented on the basis of:
Types
Chromium Hot Work Tool Steels, Tungsten Hot Work Tool Steels, Molybdenum Tungsten Hot Work Tool Steels
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Shipbuilding, Machinery, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Voestalpine
- SCHMOLZ + BICKENBACH
- Fushun Special Steel
- BaoSteel
- TG
- Nachi-Fujikoshi
- Qilu Special Steel
- Hitachi
- ERAMET
- Daido Steel
- Sanyo Special Steel
- Baowu
- Nippon Koshuha Steel
- Crucible Industries
- ArcelorMittal
- GMH Gruppe
- Kind & Co.
- Universal Stainless
- Hudson Tool Steel
- Otai Special Steel
Highlights of The Hot Working Tool Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Chromium Hot Work Tool Steels
- Tungsten Hot Work Tool Steels
- Molybdenum Tungsten Hot Work Tool Steels
- By Application:
- Automotive
- Shipbuilding
- Machinery
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hot Working Tool Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hot Working Tool Steel is a type of steel that is used in tools and other industrial applications where high temperatures and wear are common. It has a higher carbon content than standard steel, which makes it more resistant to heat and wear.
Some of the major players in the hot working tool steel market are Voestalpine, SCHMOLZ + BICKENBACH, Fushun Special Steel, BaoSteel, TG, Nachi-Fujikoshi, Qilu Special Steel, Hitachi, ERAMET, Daido Steel, Sanyo Special Steel, Baowu, Nippon Koshuha Steel, Crucible Industries, ArcelorMittal, GMH Gruppe, Kind & Co., Universal Stainless, Hudson Tool Steel, Otai Special Steel.
The hot working tool steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hot Working Tool Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hot Working Tool Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hot Working Tool Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hot Working Tool Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hot Working Tool Steel Market Size & Forecast, 2018-2028
4.5.1 Hot Working Tool Steel Market Size and Y-o-Y Growth
4.5.2 Hot Working Tool Steel Market Absolute $ Opportunity
Chapter 5 Global Hot Working Tool Steel Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hot Working Tool Steel Market Size Forecast by Type
5.2.1 Chromium Hot Work Tool Steels
5.2.2 Tungsten Hot Work Tool Steels
5.2.3 Molybdenum Tungsten Hot Work Tool Steels
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hot Working Tool Steel Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hot Working Tool Steel Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Shipbuilding
6.2.3 Machinery
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hot Working Tool Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hot Working Tool Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hot Working Tool Steel Analysis and Forecast
9.1 Introduction
9.2 North America Hot Working Tool Steel Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hot Working Tool Steel Market Size Forecast by Type
9.6.1 Chromium Hot Work Tool Steels
9.6.2 Tungsten Hot Work Tool Steels
9.6.3 Molybdenum Tungsten Hot Work Tool Steels
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hot Working Tool Steel Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Shipbuilding
9.10.3 Machinery
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hot Working Tool Steel Analysis and Forecast
10.1 Introduction
10.2 Europe Hot Working Tool Steel Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hot Working Tool Steel Market Size Forecast by Type
10.6.1 Chromium Hot Work Tool Steels
10.6.2 Tungsten Hot Work Tool Steels
10.6.3 Molybdenum Tungsten Hot Work Tool Steels
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hot Working Tool Steel Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Shipbuilding
10.10.3 Machinery
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hot Working Tool Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hot Working Tool Steel Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hot Working Tool Steel Market Size Forecast by Type
11.6.1 Chromium Hot Work Tool Steels
11.6.2 Tungsten Hot Work Tool Steels
11.6.3 Molybdenum Tungsten Hot Work Tool Steels
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hot Working Tool Steel Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Shipbuilding
11.10.3 Machinery
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hot Working Tool Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America Hot Working Tool Steel Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hot Working Tool Steel Market Size Forecast by Type
12.6.1 Chromium Hot Work Tool Steels
12.6.2 Tungsten Hot Work Tool Steels
12.6.3 Molybdenum Tungsten Hot Work Tool Steels
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hot Working Tool Steel Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Shipbuilding
12.10.3 Machinery
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hot Working Tool Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hot Working Tool Steel Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hot Working Tool Steel Market Size Forecast by Type
13.6.1 Chromium Hot Work Tool Steels
13.6.2 Tungsten Hot Work Tool Steels
13.6.3 Molybdenum Tungsten Hot Work Tool Steels
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hot Working Tool Steel Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Shipbuilding
13.10.3 Machinery
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hot Working Tool Steel Market: Competitive Dashboard
14.2 Global Hot Working Tool Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Voestalpine
14.3.2 SCHMOLZ + BICKENBACH
14.3.3 Fushun Special Steel
14.3.4 BaoSteel
14.3.5 TG
14.3.6 Nachi-Fujikoshi
14.3.7 Qilu Special Steel
14.3.8 Hitachi
14.3.9 ERAMET
14.3.10 Daido Steel
14.3.11 Sanyo Special Steel
14.3.12 Baowu
14.3.13 Nippon Koshuha Steel
14.3.14 Crucible Industries
14.3.15 ArcelorMittal
14.3.16 GMH Gruppe
14.3.17 Kind & Co.
14.3.18 Universal Stainless
14.3.19 Hudson Tool Steel
14.3.20 Otai Special Steel
