High Speed Steels Market Dynamics, Segmentations and Manufacturing Cost Forecast To 2025

20 September 2018: The report provides a basic overview of the industry including classifications, definitions, industry chain structure and applications. The High Speed Steel market analysis is provided for the international markets including competitive landscape analysis, key regions development status and development trends. Development plans and policies are also discussed, cost structures and manufacturing processes are analysed. High Speed Steel industry export/import consumption, cost price production value gross margins and supply & demand figures are also provided. The report emphases on global major leading industry players providing information such as product picture, company profiles, capacity production, specification, cost, price, contact information and production value. Downstream demand analysis and upstream raw materials and equipment are also carried out. The High Speed Steel industry marketing channels and development trends are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.

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Broaches, hobs, shaver cutters, shaper cutters, bevel cutters and milling cutters used in the manufacture of gears are commonly made of high speed steel. All high speed steels have the ability to reach a high hardness, often exceeding the mid-60s on the Rockwell C hardness (HRC) scale. This characteristic is the result of the high carbon content, combined with tungsten and/or molybdenum in the appropriate proportions. Chief driver of the industry is resurgence in industrial and manufacturing activities, growing aircraft production, increase in demand for high steel cutting and milling tool, and rise in automotive demand. Rise is crude drilling and natural gas exploration activities have further raised the demand for the HSS. Advancement in technology has led the use of HSS in agricultural activities, requirement for customized tools in agricultural activities has further propelled the demand for HSS.

The growing focus on product quality and strict adherence to product specification as per customer in terms of size, design and shape will help boost the demand for high grade HSS metal cutting tools. The global use of high speed steel metal cutting tools is also supported by benefits like lower production costs, shorter lead times and increased accuracy in the manufactured products.  The global market of HSS is segmented by the following product types HSS Drilling Tools, HSS Milling Tools, HSS Reaming & Counter boring Tools, HSS Tapping Tools, HSS Broaching Tools and HSS Gear Cutting Tools.  North America is considered as the key market for the region owing to the presence of major oil drilling and natural gas exploration companies, advancement in agriculture sector and stable demand for automobile.

Europe is also considered as the major market for HSS industry due to presence of major automobile production companies which exports vehicles in global level. Industry requirement for modern cutting tools has further propelled the demand for HSS in Europe region. Asia Pacific is expected to show significant growth over the forecast period. Growth in Asia Pacific is led by rapid industrialization in economies such as China and India. Due to the region's favourable prospects, several companies are expanding in Asian countries to benefit from the growing local demand for the end products and low-cost structures. Petrochemicals represent the largest end-use market for HTI. Continuous demand for HSS in heavy industries and power sector of India and China has propelled the demand. 

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Key player in this industry are Almatis GMBH, ADL Insulflex Inc., Cotronics Corporation, BNZ Materials Inc., High-Temp Insulation Inc, Dyson Group PLC, Isolite Insulating Products Co., Ltd., Insulcon Group, Mitsubishi Plastics Inc., M.E. Schupp GMBH, Promat GMBH, Morgan Thermal Ceramic, RHI-AG, Shandong Luyang Share Co. Ltd., Pyrotek Incorporated, Unifrax LLC and Skamol A/S. Companies in the market have adopted various strategic initiatives such as new product development, merger and acquisition, and partnerships and collaboration in order to have a competitive advantage and strong market share.