Global Tool Steel Market Growth 2023-2029

Global Tool Steel Market Growth 2023-2029

Tool Steel refers to a variety of carbon and alloy steels that are particularly well-suited to be made into tools. Tool steels are notable for their hardness, resistance to abrasion and deformation. Today, tool steel is widely used in various specific tool applications like dies, cutting, mold-making and hammers (personal or industrial). Tool Steel can retain a cutting edge at very high temperatures which is why they are often used in the shaping of other materials through cutting, pressing, coining or extruding. Their resistance to abrasion lends to their use in the production of injection molds.
LPI (LP Information)' newest research report, the “Tool Steel Industry Forecast” looks at past sales and reviews total world Tool Steel sales in 2022, providing a comprehensive analysis by region and market sector of projected Tool Steel sales for 2023 through 2029. With Tool Steel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Tool Steel industry.
This Insight Report provides a comprehensive analysis of the global Tool Steel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Tool Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Tool Steel market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Tool Steel and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Tool Steel.
The global Tool Steel market size is projected to grow from US$ 7667.5 million in 2022 to US$ 8616.2 million in 2029; it is expected to grow at a CAGR of 8616.2 from 2023 to 2029.
The major players in global tool steel market include Voestalpine, Tiangong International, Swiss Steel Group, etc. The top 3 players occupy about 27% shares of the global market. The global tool steel are mainly produced in East Asia and Europe, they occupied for a share over 50%. Americas is the largest market, has a share about 35%, followed by Asia-Pacific and Europe, with share 31% and 30%, separately.
This report presents a comprehensive overview, market shares, and growth opportunities of Tool Steel market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Carbon Tool Steel
Alloy Tool Steel
High Speed Tool Steel
Segmentation by application
Automotive
Household Appliances
Telecommunications
Construction
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Voestalpine
Tiangong International
Swiss Steel Group
SIJ Metal Ravne
Daido Steel
Sanyo Special Steel
Dongbei Special Steel
SeAH CSS
Hitachi
Pangang
Crucible Industries
Nippon Koshuha Steel
Baosteel
ArcelorMittal
Nachi-Fujikoshi
Qilu Special Steel
Key Questions Addressed in this Report
What is the 10-year outlook for the global Tool Steel market?
What factors are driving Tool Steel market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Tool Steel market opportunities vary by end market size?
How does Tool Steel break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.