Machine Tool Steel Market Size to Reach USD 642.9 Million by 2032 | 6.7% CAGR
Machine Tool Steel market was valued at USD 382.7 million in 2024 and is projected to grow from USD 410.4 million in 2025 to USD 642.9 million by 2032, registering a CAGR of 6.7% during the forecast period. Machine tool steel refers to high-performance alloy steels engineered for manufacturing cutting tools, dies, and machine components requiring exceptional hardness, wear resistance, and thermal stability . Key categories include hot-work steels, cold-work steels, high-speed steels (HSS), and plastic mold steels , each tailored for specific industrial applications. Get Full Report Here: https://www.24chemicalresearch.com/reports/258701/global-machine-tool-steel-market Market Drivers Automation in Manufacturing: The global manufacturing sector is rapidly adopting Industry 4.0 , increasing the need for high-performance tool steels that withstand continuous heavy-duty operations. The automotive sector accounts for over...