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Japan Tool Steel Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Japan Tool Steel Market – (By Material – Chromium, Tungsten, Molybdenum, and Vanadium; By Product - High Speed Steel, Cold Work Steel, Hot Work Steel, and Others; By Process – Rolled and forged; By Application – Automotive, Shipbuilding, Aerospace, and Others) - Industry Dynamics, Market Size and Opportunity Forecast, 2027

  • Published On: 25-Apr-2022  |   Format: pdfpowerpointexcel  |  Report ID: AA0422211
    Delivery: 2 to 4 Hours


Tool steel refers to a variety of carbon and alloy steels that are particularly well-suited to be made into tools.

Tool steel provides benefits such as high resistance to wear, good thermal conductivity, good hardenability, cost-effective machinability, excellent polishing, and acid-treatment properties which are suitable for use in automotive industry.

The Japan Tool Steel Market was valued at US$ 182.3 Mn in 2021.

The Japan Tool Steel Market is estimated to expand at a CAGR of 4.5% over the forecast period 2022-2027.

The market is majorly driven by factors such as increasing demand for forged tool steel and lucrative growth in automotive industry.

Rising consumer preferences for carbide machine tools is hindering market growth. 

The segmentations considered to analyze the Japan Tool Steel Market are based on material, product, process, and applications.

Chromium segment holds the highest market share in 2021.

The cold work steel dominates the Japan Tool Steel Market in 2021.

Automotive is the highest application segment in the Japan Tool Steel Market.

The key competitors in the Japan Tool Steel Market are Mitsubishi Hitachi Tool Engineering, Ltd., Voestalpine AG, Baoshan Iron and Steel Co., Ltd., Eramet, and TPR Co., Ltd., among others.