Market Overview:
The global high speed 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 high speed tool steels from various end-use industries, such as automotive, shipbuilding, and machinery. In addition, the growing demand for high speed tool steels in emerging economies is also contributing to the growth of this market. Based on type, the global high speed tool steel market can be segmented into water-hardening class, cold-work class, and shock-resisting class. The water-hardening class segment is expected to lead the global high speed tool steel market during the forecast period due to its superior properties such as toughness and wear resistance.
Product Definition:
A type of tool steel that is designed to withstand high temperatures and aggressive cutting conditions. It is typically used in applications where speed and durability are important, such as in metalworking tools, dies, and machining components.
Water-Hardening Class:
Water-Hardening Class is a rating assigned to steel based on its ability to resist softening when exposed to water. The higher the number, the more resistant the steel is towards water softening. Water-Hardening Class 150 and above are known as high speed tool steels; they have excellent hardenability and wear resistance at elevated temperatures but are relatively weak in terms of strength after being dropped into a liquid medium.
Cold-Work Class:
The cold-work class is a tool design that has been around for many years. It is used to produce extremely high speed and precision cuts in metal or other hard materials. The basic premise of this technique is to use very low temperatures (down to -50o C) as opposed to the conventional hot work classes which operate at temperatures ranging between 300o C to 1000 o C.
Cold work classes are mainly used when accuracy, extended life cycle, high production rates,.
Application Insights:
Automotive was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. Automotive high speed tool steel is used for manufacturing various components, such as fasteners, gears, shafts and beams. The demand for these products has witnessed a rise due to their increasing use in manufacturing automotive parts with higher hardness and strength.
The shipbuilding industry also uses high speed tool steel owing to its properties of toughness, wear resistance & corrosion resistance which make it suitable for building ships' hulls & marine structures. These products are mainly used in welding operations on account of their excellent mechanical properties & toughness making them suitable for marine applications including bridges etc where heavy stress is applied by ropes or chains hanging from them resulting into fatigue failure of metal components held by those chains or ropes thereby making welded joints stronger than rivets or bolts ever could be made before that time period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for high speed steel over the forecast period. The growth can be attributed to increasing demand from various end-use industries, such as automotive and transportation, machinery and industrial equipment. China is one of the largest producers of these tool steels owing to its large coal reserves that are used for producing steel.
The presence of major shipbuilding companies in South Korea has resulted in increased production output from Korean manufacturers who export a majority of their products globally. This scenario will result in an increased demand for high speed tools across shipbuilding applications worldwide over the next eight years.
Growth Factors:
- Increasing demand for high speed tool steel in automotive and aerospace industries due to its superior properties such as toughness, wear resistance and machinability.
- Rising demand from construction and manufacturing sectors due to the increasing adoption of advanced machining processes for producing high precision components.
- Growing popularity of powder metallurgy technology that requires high speed tool steels for producing complex shapes with tight tolerances.
- Technological advancements in the field of cutting tools that are making use of high speed tool steels for achieving better performance characteristics at higher speeds and feeds rates.
Scope Of The Report
Report Attributes
Report Details
Report Title
High Speed Tool Steel Market Research Report
By Type
Water-Hardening Class, Cold-Work Class, Shock-Resisting Class
By Application
Automotive, Shipbuilding, Machinery, Others
By Companies
Nachi-Fujikoshi Corporation, Daido Steel, Voestalpine, Sandvik Materials Technology, Kennametal, Hudson Tool Steel, Erasteel, Friedr. Lohmann, Arcelormittal, Thyssenkrupp, Tiangong International, Hitachi, ERAMET, Heye Special Steel, Nippon Koshuha Steel, OSG Corporation, Carpenter, Graphite India, Tivoly, Crucible Industries
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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global High Speed Tool Steel Market Report Segments:
The global High Speed Tool Steel market is segmented on the basis of:
Types
Water-Hardening Class, Cold-Work Class, Shock-Resisting Class
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:
- Nachi-Fujikoshi Corporation
- Daido Steel
- Voestalpine
- Sandvik Materials Technology
- Kennametal
- Hudson Tool Steel
- Erasteel
- Friedr. Lohmann
- Arcelormittal
- Thyssenkrupp
- Tiangong International
- Hitachi
- ERAMET
- Heye Special Steel
- Nippon Koshuha Steel
- OSG Corporation
- Carpenter
- Graphite India
- Tivoly
- Crucible Industries
Highlights of The High Speed 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:
- Water-Hardening Class
- Cold-Work Class
- Shock-Resisting Class
- 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 High Speed 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
High Speed Tool Steel is a type of steel that is used in high speed tools and cutting tools. It has a higher carbon content than other types of steel, which makes it stronger and more durable.
Some of the major companies in the high speed tool steel market are Nachi-Fujikoshi Corporation, Daido Steel, Voestalpine, Sandvik Materials Technology, Kennametal, Hudson Tool Steel, Erasteel, Friedr. Lohmann, Arcelormittal, Thyssenkrupp, Tiangong International, Hitachi, ERAMET, Heye Special Steel, Nippon Koshuha Steel, OSG Corporation, Carpenter, Graphite India, Tivoly, Crucible Industries.
The high speed tool steel market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. High Speed Tool Steel Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. High Speed Tool Steel Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. High Speed Tool Steel Market - Supply Chain
4.5. Global High Speed Tool Steel Market Forecast
4.5.1. High Speed Tool Steel Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. High Speed Tool Steel Market Size (000 Units) and Y-o-Y Growth
4.5.3. High Speed Tool Steel Market Absolute $ Opportunity
5. Global High Speed Tool Steel Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. High Speed Tool Steel Market Size and Volume Forecast by Type
5.3.1. Water-Hardening Class
5.3.2. Cold-Work Class
5.3.3. Shock-Resisting Class
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global High Speed Tool Steel Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. High Speed Tool Steel Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Shipbuilding
6.3.3. Machinery
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global High Speed Tool Steel Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. High Speed Tool Steel Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global High Speed Tool Steel Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. High Speed Tool Steel Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global High Speed Tool Steel Demand Share Forecast, 2019-2029
9. North America High Speed Tool Steel Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America High Speed Tool Steel Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America High Speed Tool Steel Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Shipbuilding
9.4.3. Machinery
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America High Speed Tool Steel Market Size and Volume Forecast by Type
9.7.1. Water-Hardening Class
9.7.2. Cold-Work Class
9.7.3. Shock-Resisting Class
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America High Speed Tool Steel Demand Share Forecast, 2019-2029
10. Latin America High Speed Tool Steel Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America High Speed Tool Steel Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America High Speed Tool Steel Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Shipbuilding
10.4.3. Machinery
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America High Speed Tool Steel Market Size and Volume Forecast by Type
10.7.1. Water-Hardening Class
10.7.2. Cold-Work Class
10.7.3. Shock-Resisting Class
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America High Speed Tool Steel Demand Share Forecast, 2019-2029
11. Europe High Speed Tool Steel Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe High Speed Tool Steel Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe High Speed Tool Steel Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Shipbuilding
11.4.3. Machinery
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe High Speed Tool Steel Market Size and Volume Forecast by Type
11.7.1. Water-Hardening Class
11.7.2. Cold-Work Class
11.7.3. Shock-Resisting Class
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe High Speed Tool Steel Demand Share, 2019-2029
12. Asia Pacific High Speed Tool Steel Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific High Speed Tool Steel Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific High Speed Tool Steel Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Shipbuilding
12.4.3. Machinery
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific High Speed Tool Steel Market Size and Volume Forecast by Type
12.7.1. Water-Hardening Class
12.7.2. Cold-Work Class
12.7.3. Shock-Resisting Class
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific High Speed Tool Steel Demand Share, 2019-2029
13. Middle East & Africa High Speed Tool Steel Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa High Speed Tool Steel Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa High Speed Tool Steel Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Shipbuilding
13.4.3. Machinery
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa High Speed Tool Steel Market Size and Volume Forecast by Type
13.7.1. Water-Hardening Class
13.7.2. Cold-Work Class
13.7.3. Shock-Resisting Class
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa High Speed Tool Steel Demand Share, 2019-2029
14. Competition Landscape
14.1. Global High Speed Tool Steel Market: Market Share Analysis
14.2. High Speed Tool Steel Distributors and Customers
14.3. High Speed Tool Steel Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nachi-Fujikoshi Corporation
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Daido Steel
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Voestalpine
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Sandvik Materials Technology
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kennametal
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hudson Tool Steel
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Erasteel
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Friedr. Lohmann
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Arcelormittal
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Thyssenkrupp
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Tiangong International
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Hitachi
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. ERAMET
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Heye Special Steel
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Nippon Koshuha Steel
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. OSG Corporation
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Carpenter
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Graphite India
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Tivoly
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Crucible Industries
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
