Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Tool Steel Market 2019

Global Tool Steel Market to Benefit from Steady Demand from the Automotive Industry
Tool Steel Market Analysis 2019 to 2023 report includes comprehensive information on Global Tool
Steel Industry with Regional Forecast To 2023. Global Tool Steel Market Size, Share, Growth, Trends, and
Key Country Outlook To 2023. Global Tool Steel Market Research Report Categories By Format Type
(Round Format, Square Format and Other Format), By Application (Automotive, Machinery and
Shipbuilding), By Process (Forged and Rolled) and By Region. Tougher Emission Rules to Provide a Push
to the Global Tool Steel Market.
Competitive Landscape:
Hudson Tool Steel Corporation (US), GERDAU S.A (Brazil) and Pennsylvania Steel Company (US), Eramet
SA (France), Voestalpine AG (Austria), Nachi-Fujikoshi Corp (Japan), Sandvik (Sweden), Universal
Stainless (US), QiLu Special Steel Co,.Ltd (China), Samuel, Son & Co (Canada), Schmiedewerke Gröditz
(Germany), Baosteel Group (China), and Hitachi Metal (Japan) are the key players in the global tool steel
market.
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Segmentation:
The global tool steel market has been segmented based on type, format type, application, and process.
By type, the global tool steel market has been segmented into metal cutting, alloy tool steel, high-speed
tool steel, and carbon tool steel and others. The metal cutting segment held the largest share of 30.11%
in 2016.
By format type, the global tool steel market has been segmented into round, square and others. The
round segment accounted for the largest share of 47.4% in 2016 and was followed by the square
segment.
By application, the global tool steel market has been segmented into automotive, machinery,
shipbuilding and others. The automotive segment accounted for the largest market share of 30.22% in
2016 and was followed by the machinery and shipbuilding segment.
By process, the global tool steel market has been segmented into forged and rolled.
The global tool steel market is anticipated to attain a valuation of USD 5,861.6 Mn by the end of 2023 at
a CAGR of 5.05% over the forecast period of 2017-2023, projects market Research Future (MRFR) in an
extensive study. The global tool steel market was valued at USD 4,178.1 Mn in 2016.
Tool steel refers to carbon and alloy steel which are ideally used for making tools. They exhibit various
superior properties and are generally used in the manufacture of cutting tools, gear cutters, saw blades,
tool bits, milling cutters, and other tools. Increase in demand for such tools contributes considerably to
the growth of the global tool steel market. Tool steel finds application in diverse industries for a variety
of purposes. They are resistant to wear, possess high thermal conductivity, hardenability, and excellent
polishing and acid treatment properties owing to which they experience heightened demand from
industries such as automotive, mechanical & plant engineering, packaging, mining, and others. The
automotive industry is a major end-user of tool steel where it is the preferred material for the