QYResearch: The Global Tool Steel Consumption will reach 2313.7K MT 2509.7K MT in 2022

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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).

The types of tool steel mainly include carbon tool steel, alloy tool steel and high speed tool steel.

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QYResearch According to QYResearch, The global tool steel market is relatively concentrated; the production of top twelve manufacturers accounts about 82% of total global production in 2015. The largest manufacture of tool steel is Voestalpine, its production is 658K MT in 2015. The next is SCHMOLZ + BICKENBACH and Sandvik.

Europe is the largest production region of tool steel.

In 2015, the production of tool steel is about 753 K MT in Europe; its production of total global production exceeds 37%.The next is China and North America.

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QYResearch Europe also is the largest consumer of tool steel. In 2015, the consumption of tool steel is about 598 K MT in Europe; its proportion of global market consumption exceeds 29%.

There are three types of tool steel in global market; alloy tool steel is the largest consumption type in 2015.

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