Technology Developments and Expanding Application Areas Drive the Global High Speed Steel Metal Cutting Tools Market
The global market for High speed steel (HSS) Metal Cutting Tools is forecast to reach US$10.2 billion by 2025 , driven by stable automotive and aircraft production, niche opportunities emerging from expanding application areas, promising prospects from heavy equipment/machinery manufacturing industry, and technology developments & product enhancements. High speed steel (HSS), representing one of the established materials for manufacture of high-performance metal cutting tools, continues to attract the cutting tools manufacturers with its top-class attributes of high wear and tear resistance, superior hardness and toughness, best-in-class fracture and fatigue resistance, and high-grade adhesive/abrasive wear toughness. Made using a combination of high-performance specialty steel and toughness and hardness enhancing alloying metals such as vanadium, tungsten, molybdenum and chromium, HSS is widely used in a broad range of cutting tools including drill bits, reamers, taps, gear ...