Tool
steel is the major choice of automobile makers worldwide due to its desired
standards of strength and safety. It is the strongest and most affordable
material that can be engineered in a lot of different ways to meet the
automobile needs and performance of the vehicle. It was estimated that there is
an increasing consumption of steel in the automotive sector on a global scale.
However, the share of tool steel in automobile manufacturing is likely to drop
over the next few years because majority of the automakers need to comply with
stringent regulations governing automobile emissions and fuel efficiency. To
tackle environmental concerns, European government has set specific targets for
fuel efficiency and emissions reduction. Europe targets to reduce average
vehicular carbon dioxide emissions in the next few years.
According
to the study “Europe
Automotive Tool Steel Industry Situation and Prospects Research report”,
in order to standardise tool steel’s position as the material of choice in the
automotive industry, majority of the manufacturers are investing heavily to
produce advanced high-strength steels. European steel manufacturing companies
are collaborating with Original Equipment Manufacturers (OEMs) in order to
develop steel solutions that cater to the automobile manufacturers’
requirements in terms of weight reduction as well as safety. Automobile
manufacturing involves a lot of theories such as front end crash requirements,
manufacturing material should be able to absorb crash energy, and vehicle body
material should be able to deflect energy to avoid crumple. Steel possesses all
these flexibilities and qualities affordably.
Newer
steels, such as Advanced High-Strength Steels (AHSS) possess these requirements
with less steel at a lighter weight. Steel can be infinitely recyclable back
into the same product because it does not degrade in quality as it is recycled.
Steel is magnetic and can be easily draw out during the recycling process
compared to other materials that are not magnetic. Advanced High-Strength
Steels can be manufactured at very thin gauges and maintain the strength of a
mild steel. They are different than the conventional steel and are effectively
used in the automotive industry. Currently, Advanced High-Strength Steels are
the fastest growing materials used in European automotive manufacturing.
European
automotive industry is heavily dependent on the tool steel, therefore, there is
an increasing demand for the products. The tool steel industry directly affects
the growth in the forging industry. Majority of the forged metals are used in
automotive, factory automation, aerospace, defence and others manufacturing
industries. The growth of tool steel market in Europe is due to the increasing
growth in the automotive industry, forging industry and tool steel
manufacturers. The fluctuation in steel prices has a great impact on the tool
steel market in Europe. The automotive tool steel industry is segmented between
Commercial and Passenger Vehicles. This segmentation is based on the type of
steel utilized for the production of the automotives. The tool steel
segmentation is categorized between Carbon Tool Steel, Alloy Tool Steel and
High Speed Tool Steel. Geographically, automotive tool steel in Europe market
is spread across Germany, Russia, UK, France, and Italy. The leading players
are Voestalpine, Schmolz + Bickenbach, Sandvik, Fushun Special Steel, BaoSteel,
TG, Nachi-Fujikoshi, Qilu Special Steel, Hitachi, Eramet, Universal Stainless
and Hudson Tool Steel.
Automotive
tool steel includes all the categories of steel materials used for the
production of an automotive vehicle. Advanced technology in automobile
manufacturing has led to growing implementation of high technology tools that
are easier to use and are more user friendly. The tools manufactured are used
for jacking, tire change, re-screwing and other automotive operations. There is
an increasing demand for automatic tools and a need for advanced better quality
steel used for tools manufacturing. The growth in European automotive sector
has resulted in demand for sophisticated tools and demand for automotive tool
steel. The automotive tool steel market in Europe is expected to grow steadily
over the next few years.
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Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204
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