Global High Speed Steel Metal Cutting Tools Market to Exceed $6.2 Billion by 2015, According to New Report by Global Industry Analysts

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Even in the face of a dwindling market share as against solid carbide tools, High Speed Steel (HSS) cutting tools continue to be an economical alternative for tool toughness critical applications. HSS toolmakers are making efforts to save and enlarge their market share through the use of Powder Metallurgy materials and advanced coatings.

High Speed Steel (HSS) Metal Cutting Tools: A Global Strategic Business Report

Global high speed steel metal cutting tools market is projected to exceed $6.2 billion by 2015. Asia-Pacific represents the leading market for high speed steel (HSS) metal cutting tools. The region is also the fastest growing market over the period 2006-2015. HSS tapping tools market represents the largest and the fastest growing product type globally.

HSS' sustained viability can be primarily attributed to the introduction of particle or powder metallurgy (P/M), the greatest single advancement in HSS technology. HSS cutting tools made through powder metallurgy (P/M) have higher wear resistance and are harder and tougher as against conventional HSS. Consequently, in specific applications, HSS has been able to retain its market share as well as regained lost share from tungsten carbide.

Harder and wear-resistant cemented-carbide cutting tools continue to nibble into the HSS' share of the cutting tools market. Though development of HSS technology provided the basis for modern metalworking, the market for HSS cutting tools is declining with respect to carbide tools. The growing use of high accuracy computer numerically controlled (CNC) machines is furthering the increasing use of carbide cutting tools, which enable higher speed machining as against HSS tools. Though the switch to carbide tools is obvious, HSS would continue to have key niches as the choice of material depends on the specific application.

These and other market data and trends are presented in "High Speed Steel (HSS) Metal Cutting Tools: A Global Strategic Business Report" published by Global Industry Analysts, Inc. This GIA report discusses the prevailing trends, issues, demand forecasts, and activities that affect the industry. The study analyzes the global HSS metal cutting tools market in US$ million for the following geographic regions - North America, Europe, Asia-Pacific, and Rest of World; and product types - HSS Milling Tools, HSS Drilling Tools, HSS Tapping Tools, HSS Reaming & Counterboring Tools, HSS Gear Cutting Tools, and HSS Broaching Tools. Analytics for the period 2001-2015 provide a comprehensive understanding of the market.

Dominant global forces profiled in the report include, Aloris Tool Technology, Bohler Uddeholm Corp, Erasteel SAS, Kennametal, Nachi-Fujikoshi Corporation, Nippon Koshuha Steel Group, OSG Corporation, Sandvik AB, Tiangong International, Tivoly SA, and Walter AG among several others. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities, and is an easy guide to What, Why, When, How, Where, and Who of the industry.

For more details about this research report, please visit

About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

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