Global Mold Steel Market Overview:
Mold steel is a steel used to make molds, the molds material is referred to as the material and technical basis of mold manufacturing. Mold steel is a traditional mold material. Mold steel is obtained by melting low alloy scrap steel in an electric arc furnace. Rapid industrialization in the developing countries, the growing demand from end-users like the construction industry and the icreasing usage of enhanced technology is expected to drive the mold steel market.
As per latest study released by AMA Research, the Global Mold Steel market is expected to see growth rate of 7.8%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Continuous Developments in the Steel Industry and Increasing Technological Advancements
Market Growth Drivers:
Increasing Urbanization that Requires Aesthetically Appealing Structures, Rising Demand for Customized Mold Products from Consumers and Increasing Growth of Industries across the Globe
Challenges:
Concern Related to Residence Time That Takes Too Long
Restraints:
High Cost Associated with Steel Molds
Opportunities:
Growing Industrialization in Developing Industries
Competitive Landscape:
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Some of the key players profiled in the report are ASSAB GROUP (Singapore), Daido Steel (Japan), Hitachi Metals (Japan), Arcelor Group (Luxembourg), Aubert and Duval (France), Kind and Co. (Germany), Schmiede Werke Grfiditz (Germany), Sanyo Special Steel (Japan), Nippon Koshuha Steel (Japan), Voestalpine (Austria), Fushun Special Steel AG (China), Ellwood Specialty Metals (Canada), Crucible Industries LLC (United States) and Finkl Steel (United States). Additionally, following companies can also be profiled that are part of our coverage like Baosteel (China) and East Tool and Die (China). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Mold Steel market by 2030.
Latest Market Insights:
In April 2022, JFE Steel Corporation and ThyssenKrupp Steel Europe jointly launched new 980 and 1180 MPa-class-high-strength steel sheets capable of cold forming for the production of automobile frame components.
In January 2021, Hitachi Metals, Ltd. announced that it had completed the acquisition of Teikuro Inc., a manufacturer of tool steel and other specialty steel products based in Japan. The purchase is part of Hitachi Metal's strategy to spread its product portfolio and strengthen its tool steel market position.
What Can be Explored with the Mold Steel Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Mold Steel Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Mold Steel
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Mold Steel market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Mold Steel market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Mold Steel Manufactures, Mold Steel Distributors, Potential Investors, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Other.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.