Tool Steel Industry 2019
The global tool steel market is estimated to reach USD 7.10 billion by 2026 growing at a CAGR of 8.2% during the forecast period, according to a new study published by Polaris Market Research. The report ‘Tool Steel Market Share, Size, Trends, & Industry Analysis Report, By Material (Chromium, Tungsten, Molybdenum, Vanadium, Others); By Product Class (High Speed, Cold-Work, Hot-Work, Plastic Mold, Others); By Process; By End-User; By Region: Segment Forecast, 2019 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the automotive segment dominated the global tool steel industry, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
The application of tool steel in industries such as energy, construction, packaging, automotive, and manufacturing among others is expected to support the market growth. Increasing use in manufacturing of cutting tools such as drills, taps, gear cutters, saw blades, and others drive the growth of the tool steel industry. Factors such as rising demand from construction and packaging industries, strengthening automotive industry, and growth in forging industry include further support the market growth.
For more information or any query mail at firstname.lastname@example.org
However, rising demand for carbide-based alternatives, and fluctuating prices of steel are expected to restrict the growth of the tool steel industry. Increasing demand from developing nations, and technological advancements are expected provide numerous growth opportunities to the market players during the forecast period.
The demand for shock resisting tool steel group has increased owing to its high shock resistance and great hardenability. It also offers high impact toughness and relatively low abrasion resistance. High-speed steel is usually used in tool bits and cutting tools such as power-saw blades and drill bits. It is capable of withstanding high temperatures without losing its hardness, and is capable of cutting faster than high carbon steel.
Asia-Pacific generated the highest revenue in the market during 2017, and is expected to lead the global market throughout the forecast period. The presence of emerging industries such as construction, shipbuilding, and packaging, substantial initiatives in research and development, and favorable government policies drive the market growth. Rapid industrialization and growth of manufacturing industry further support market growth in the region.
The different end-users in tool steel market includes automotive, shipbuilding, aerospace, manufacturing, and others. In 2018, the automotive segment accounted for the highest market share increasing demand for vehicles, especially from developing countries, and growing penetration of electric vehicles. The increasing modernization of vehicles, coupled with stringent vehicular regulations further support the market growth in the region.
The well-known companies profiled in the report include Voestalpine AG, Eramet SA, Hudson Tool Steel Corporation, Schmiedewerke Gröditz, Samuel, Son & Co., SeAH Changwon Integrated Special Steel, QiLu Special Steel Co., Ltd, Buderus Edelstahl GmbH, Nachi-Fujikoshi Corp, Hitachi Metals, Ltd., Baosteel Group, and Tiangong International Co., Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Tool Steel Material Outlook (Revenue, USD Billion, 2015 – 2026)
Tool Steel Procut Class Outlook (Revenue, USD Billion, 2015 – 2026)
Tool Steel Process Outlook (Revenue, USD Billion, 2015 – 2026)
Tool Steel End User Outlook (Revenue, USD Billion, 2015 – 2026)
Tool Steel Regional Outlook (Revenue, USD Billion, 2015 – 2026)
Rest of Europe
Rest of Asia-Pacific
Rest of LATAM
Middle East & Africa
Rest of MEA
Table Of Contents – Major Key Points
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Tool Steel Market Insights
3.1. Tool Steel – Industry snapshot
3.2. Tool Steel – Ecosystem analysis
3.3. Tool Steel Market Dynamics
3.3.1. Tool Steel – Market Forces
3.3.2. Tool Steel Market Driver Analysis
3.3.3. Tool Steel Market Restraint/Challenges analysis
3.3.4. Tool Steel Market Opportunity Analysis
3.4. Industry analysis – Porter’s five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Tool Steel Market PEST Analysis
3.6. Tool Steel Market Value Chain Analysis
3.7. Tool Steel Industry Trends
3.8. Competitive Ranking Analysis
4. Tool Steel Market Size and Forecast, 2015-2026 by Material
4.1. Key Findings
5. Tool Steel Market Size and Forecast, 2015-2026 by Product Class
5.1. Key Findings
5.2. High Speed
5.5. Plastic Mold
Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports features an exhaustive list of market research reports from hundreds of publishers worldwide. We boast a database spanning virtually every market category and an even more comprehensive collection of market research reports under these categories and sub-categories.
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349