Significant opportunities in High Speed Steels Market by 2021

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High Speed Steels Market worth 2.77 Billion USD
by 2021

The report "High Speed Steels Market by Product
Type (Metal Cutting Tools, Cold Working Tools,
Others), End-Use Industry (Automotive Industry,
Plastic Industry, Aerospace Industry, Energy
Sector, Others), Region - Global Forecasts to
2021", The high speed steels market is projected
to grow from USD 2.13 Billion in 2016 to USD 2.77
Billion by 2021, at a CAGR of 5.3 from 2016 to
2021.
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Introduction

• The growing demand for high speed steels to
  manufacture various cutting tools, such as tool
  bits, drills, taps, gear cutters, saw blades,
  planers, jointer blades, milling cutters, router
  bits, punches, and dies, among others is driving
  the growth of the high speed steels market,
  globally.
• Lack of investments for carrying out RD
  activities in the field of high speed steels and
  increasing use of carbide-based cutting tools in
  various end-use industries are expected to act as
  restraints for the growth of the high speed
  steels market during the forecast period.

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Key Participants
Hudson Tool Steel Corporation (U.S.), Sandvik
Materials Technology AB (Sweden), Erasteel
(France), Nachi-Fujikoshi Corporation (Japan),
Daido Steel Co., Ltd. (Japan), Friedr. Lohmann
GmbH (Germany), Kennametal Inc. (U.S.),
Voestalpine AG (Austria), ArcelorMittal S.A.
(Luxembourg), and ThyssenKrupp AG (Germany),
among others, are the key players operating in
the high speed steels market.
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On The Basis Of Region
The Asia-Pacific high speed steels market is
projected to grow at the highest CAGR during the
forecast period, 2016 to 2021. The growth of the
Asia-Pacific high speed steels market can be
attributed to the high economic growth of the
Asia-Pacific region as well as increased
investments by various governments and leading
market players in the Asia-Pacific region to
carry out innovations in the field of high speed
steels. Moreover, increasing income of the middle
class population in the region is also driving
the demand for different products, which is
fueling the growth of numerous industries in the
Asia-Pacific region. This, in turn, is leading
towards continuous industrialization in the
region, thereby fueling the growth of the
Asia-Pacific high speed steels market.
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