Tool Steel - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Tool Steel Market is accounted for $5.04 billion in 2018 and is expected to reach $8.45 billion by 2027 growing at a CAGR of 5.9% during the forecast period. Rising growth of the manufacturing sector and increasing investments in infrastructure projects in developed countries are the major factors driving the market growth. However, the growing use of carbide-based cutting tools for cutting hard material is restraining market growth.
Tool steel refers to a variety of carbon and alloy steels that are particularly well-suited to be made into tools. Their suitability comes from their distinctive hardness, resistance to abrasion and deformation, and their ability to hold a cutting edge at elevated temperatures. As a result, tool steels are suited for use in the shaping of other materials.
Based on the end-user, the automotive segment is likely to have a huge demand due to the increasing expansion of the automotive industry, the introduction of new innovations and customized requirements of the automotive applications in the formation of tools and dies used for forming and working for plastic components. By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to increasing demand for residential as well as commercial buildings and rising investments across India, China and Japan.
Some of the key players profiled in the Tool Steel Market includeFushun Special Steel, TG, Schmolz + Bickenbach, Nachi-Fujikoshi, BaoSteel, Hudson Tool Steel, Voestalpine, ERAMET, Hitachi, Sandvik, Qilu Special Steel, and Universal Stainless.
• Plastic Mold
• Hot Work
• High Speed
• Cold Work
• Carbon Tool Steel
• Alloy Tool Steel
• Special Purpose
• Injection Molding
• Die Work
End Users Covered:
• Electrical and Electronics
• Food and Packaging
• Defense and Aerospace
• Ship Building
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance
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