The Tool Steel Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Tool Steel Market?
The tool steel market expanded significantly in recent years. The value of this market will increase from $6.53 billion in 2024 to reach $6.92 billion in 2025, showing a compound annual growth rate (CAGR) of 6.0%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Tool Steel Industry?
The Tool Steel Global Market Report 2025 projects that by 2029, the tool steel market is expected to expand to a size of $8.96 billion, growing at a compound annual growth rate (CAGR) of 6.7%.
Download Your Free Sample of the 2025 Tool Steel Market Report and Uncover Key Trends Now!
What are the Key Growth Drivers Fueling the Tool Steel Market?
The key drivers in the tool steel market are:
• Increase in investments in infrastructure projects
• Growth in the building and construction sector
• Surge in urbanization rates
• Technological advancements, including development of advanced tool steel alloys and product innovations.
Global Market Segmentation: Identifying Major Tool Steel Industry Segments
The tool steel market covered in this report is segmented –
1) By Product Type: Water-Hardening, Cold-Work, Shock-Resisting, High Speed, Hot-Working, Special Purpose
2) By Material Type: Tungsten, Chromium, Vanadium, Molybdenum
3) By End Use: General Manufacturing, Automotive, Defense And Aerospace, Electronics And Electrical, Ship Building, Other End Uses
Pre-order the 2025 Tool Steel Global Market Report for Fast Delivery & Comprehensive Insights!
What are the Emerging Trends Shaping the Future of the Tool Steel Market?
The key trends in the tool steel market are:
• Technological advancements are a major emerging trend in the tool steel market.
• Developments in tool steel, such as production of advanced alloys, are shaping the industry.
• Mergers and acquisitions are trending and reshaping the sector structure.
• Product innovation continues to be a significant trend for the future.
Who Are the Top Competitors & Leading Players in the Tool Steel Market?
Major companies in the tool steel market are:
• Hitachi Metal Ltd.
• Swiss Steel Group
• Voestalpine AG
• China Baowu Steel Group Corp
• Tiangong International
• Sandvik
• QiLu Special Steel Co. Ltd
• Samuel Son & Co
• NACHI
• Fujikoshi Corporation
• Nippon Steel
• JFE Steel Corporation
• Tata Steel Limited
• Kobe Steel Limited
• Ningbo BST Metal Products Co. Ltd.
• Nanjing Hengjie Industrial Co. Ltd.
• ArcelorMittal
• Suzuki Garphyttan Ab
• Avocet Steel
• ANCORA SCM
• Valteknica Incom SRL
• Beloretsk Metallurgical Plant AO
• Hudson Tool Steel Corporation
• Nucor Corporation
• Sovereign Steel Manufacturing
• Algoma Steel Inc.
• Ternium S.A.
• Continental Steel & Tube Co.
• A-1 Alloys
• AAA Metals Co. Inc.
• Gibbs Wire & Steel Co.
• Tata Steel Minerals Canada Ltd.
• Posco America
• Ternium Argentina SA
• Aperam South America
• Gerdau
• The Yehuda Group
• Hod Assaf Industries Ltd.
• Ezz Steel
• Kandil Steel Company
• BSi Steel Pty Ltd.
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the tool steel market in 2024, and it is expected to be the fastest-growing region in the forecast period
