Commodity Inside

  • Login
  • MY CART
    No products in cart.
  • Home
  • Reports & Data
    • Commodities
      • Steel Market
      • Raw Materials and Base Metals
      • Glass and Plastics Market
      • Energy Market
    • End Users
      • Automotive Market
      • Construction Market
      • Electronics Market
      • Packaging Market
  • Consulting
    • Coverage
      • Our Expertise
      • Sample Works
    • Engagement
      • Our Approach
      • Research Methodology
  • Knowledge
    • Market Insight
    • World Gold Mines Database
    • COVID-19 Impact on the Steel Industry
  • About
    • About Us
    • Contact Us
  • Home
  • Market Insight
  • Steel
  • Tool Steel Industry: A Quick Roundup

Tool Steel Industry: A Quick Roundup

by Commodity Inside / Tuesday, 23 April 2019 / Published in Steel
Tool Steel Industry A Quick Roundup

Tool Steel Industry: General Market Overview, Types, Key Players, Prices and Applications  

Introduction

Tool steel is a type of alloy and carbon steel which is produced by using a special composition of various raw materials and carbon content. Tool steel, as the name suggests, is used to make tools, which are used for various purpose including cutting, digging, forging, punching and moulding. Its applications are quite wide ranging from hand tools to mechanical fasteners or machinery parts such as die press, where wear resistance, toughness, mechanical strength required for the better performance. Alloy tool steel can be classified into three main classes which are relatively low-alloy tool steel, intermediate alloy tool steel and high-speed tool steel.

 

Tool steel grading and specifications

  • Water-resistant
  • Cold-work
  • Shock-resistant
  • High-speed
  • Hot-work
  • Other special purposes

Tool steel for high temperature and high-speed applications are designated as T and M type grades. These grades are known as high-speed steel (HSS). The conventional T type or Tungsten steel grades largely replaced by M type or Molybdenum high-speed steel grades. H types represent the grades for hot working operations. W type is for water hardenable while D types are for cold works.  Some special group includes the P types which are used for making injection and blow moulding dies for plastics.

Usage of these grading depends on application requirements. Major alloying elements used in tool steel are chromium, cobalt, manganese, molybdenum, tungsten and vanadium. Some tools steel is made from stainless steel.

Tool steels are heat treated, and the higher carbon grades tend to be for cutting and stamping applications. Those categorised as “cold working” are for applications where surface temperatures remain below 200°C and “hot working” denotes applications above 200 °C.

Tool Steel Types

Costs

The high-performance requirement in the operations needs more controlled composition and process to produce various grades of tool steel which increases the cost significantly.

Tool steel prices also depend on prices of raw materials such as tungsten, chromium, vanadium and Molybdenum. Its prices are on average around $4000/tonne but can vary widely depending on grades and sizes. High dispersions in prices are due to a variety of alloying elements and manufacturing processes involved in the production of various grades.

 

Key players in the industry

The global supply of tool steel is assessed to be over 3 million tonnes in 2018, and dominated by China. Some major producers are Voestalpine and Schmolz+Bickenbach, ArcelorMittal, ThyssenKrupp, Baowu Steel, Fushun Special Steel, Qilu Special Steel, Dongbei Special Steel, Tiangong Group and Qilu Special Steel.

In addition to the quality of tool steel, advancements in materials and metallurgical process also play an important role in determining the company market position. Prices of some tool steel can command high margins due to the nature of its applications.

 

End-user applications of tool steel

By application type, cold work tool steel is widely used followed by hot worked and plastic mould types. The demand growth is mainly driven by manufacturing, construction, automobile and mining sectors. We understand that the demand for tool steel is highly correlated with industrial production.

Drilling down further by end-user applications, tool steel is used mainly in the transport industry for engine parts, stamping and pressing dies of car bodies and parts exposed to wear and tear. It is also used in mining machinery like excavators teeth. In the manufacturing process, tool steel is used to make grinders, cutters and shapers, drill bits, stamps and presses. Moreover, another major end user of tool steel is the mould manufacturing industry for plastics products.

 

 Would you want to explore this topic further, please feel free to contact us at Research@commodityinside.com

NEED HELP?

Legal

  • Terms and Conditions
  • Privacy Policy
  • GET SOCIAL

Commodity Inside Limited is registered at UK Companies House. ©2025 Commodity Inside Limited I All rights reserved.

Contact:

info@commodityinside.com
+44 (0) 208 123 7812

TOP
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
SettingsAccept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT