Die Steel Market Size, Share, Growth, And Industry Analysis, By Type (Cold Working Die Steel, Hot-Work Die Steel, Others), By Application (OEM, Aftermarket), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Die Steel Market Report Overview

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The global die steel market size was USD 5044.62 million in 2021 and market is projected to touch USD 8215.8 million by 2031, at a CAGR of 5.0% from 2021 to 2031.

Iron, non-ferrous metals, plus alloy derivative workpieces are frequently hot-formed at extremely high temperatures using die steels. These steels are widely used in industrial procedures such pressured die casting, dropped forging, and the manufacture of tubes and glasses. Whenever the tool surface gets into proximity to the material to be processed, hot-work steel tools and equipment are subjected to high temperature and varying thermic loads. High tempering resistance, solid thermal shock resistance, robust wear resistance, and high stiffness are the main properties of this advanced material. Industries employ high-quality this advanced material extensively to achieve the highest levels of operating productivity and efficiency.

COVID-19 Impact: Interruption in Supply Chains to Deplete Market Growth

The most recent article completely describes the COVID-19 pandemic's enormous effects on the market on a global scale. The global die steel market and the companies working in it have suffered greatly as a result of the coronavirus epidemic, which has completely altered the world's economic environment. Long-term company closures were caused by the worries about the spread of the deadly coronavirus and the strict social isolation policies, which stopped a variety of industrial activity. As a result, the severe effects of COVID-19 on the building and construction industry have reduced demand for this advanced material, significantly slowing the expansion of the global market. Market analysts predict that after COVID-19, the global die steel market growth will pick up steam in the coming years.

Latest Trends

"Adequate Ductility of the Material to Intensify Market Magnification"

For the fabrication of tools used in the mass manufacturing of metal, plastic, and other elements, this steel are a common choice of material. These tools comprise extruding dies, pressured casting dies, molds, punch, and several other components for molding plastics using materials that have been heated to temperatures between 250 and 700 degrees Celsius. Since shape stability is a fundamental necessity for all tools, the material is used to create them that is able to withstand weights without causing plastic to deform while yet keeping a high level of abrasion resistance. The material has adequate ductility and impact strength, good hardness, and strength to ensure crack resistance. 

Die Steel Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into cold working die steel, hot-work die steel, others

Cold working die steel are the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into OEM, aftermarket

OEM are the leading part of the application segment

Driving Factors

"Elevation in Hot Forming Procedures to Boost Market Share"

Hot forming techniques make use of this advanced material. A significant portion of metal products are produced using hot forming techniques, which are among the most significant and ancient metal forming techniques. In hot metal forming, the metal is formed using tools or dies during a process called plastic deformation or solidification. Above the temperature at which metals recrystallize, the hot deformation procedure takes place. The metal behaves precisely plastically at that temperature, making it simple to shape. The metals can be hot-worked indefinitely without the components breaking since they don't become internally strained or work-hardened. Hot forming techniques are on a significant rise which requires a constant utilization of the material. Therefore, promoting the die steel market share.

"Utilization by Numerous Industries to Expand Market Forwarding "

This advanced material has a wide range of uses, and the dies made with some of the steels are employed in numerous industries. In order to shape work pieces made from iron, non-ferrous metals, in addition to alloy derivatives, without cutting them, material are employed at high temperatures. They are used in the production of tubes and glass products as well as techniques including hot forging, pressured die casting, and extrusion.

Restraining Factors

"Increased Setup Cost to Deplete Market Advancement "

However, the cost of setting up machines and equipment to generate the advanced material is indeed very significant and needs constant maintenance, so an increment in machines and equipment setup cost raises the cost of material production. This, in turn, raises the cost of the end user. As a result, the die steel market growth is stifled.

Die Steel Market Regional Insights

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"Appealing Marketing Tactics to Foster Market Growth in Asia Pacific  "

Asia Pacific dominates the sector as a whole and was responsible for the largest portion of global revenue more than 49.70%. Some of the most important factors supporting the expansion of the global market growth include the rapidly expanding construction sector, rapid urbanization and industrialization growing adoption of intelligent city infrastructure, the growing adoption for industrial machinery, expanding commercial and residential sectors, and the rising population. For the product offerings, key manufacturers in the area continued to broaden their geographic and retail footprints.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Schmiede werke Groditz GmbH (Germany)
• Nippon Koshuha steel (Japan)
• Yasugi (Japan)
• Eramet (France)
• Indus steel (India)
• Sanyo Special Steel (Japan)
• ShanghaiRiqun (China)
• Edelstahl werk (Germany)
• Tito (Ireland)
• Yangang (China)
• Era steel (Sweden)
• Creusot (France)
• Aubert & Dural (France)
• Arcelor Group (Netherland)
• Kuwana (China)
• Daido Steel (Japan)
• KIND & Co (England)
• Toyama Plant (Japan)
• Hitachi Metals (Japan)
• Tobata (Japan)
• Severstal (Russia)
• ChangzhouZhengtai (China)
• Wakamatsu (Japan)
• Schneider (France)
• Fukagawa (Japan)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.