Global Powder Metallurgy High-Speed Steel Market Growth 2026-2032

October 2026 | 103 pages | ID: G9316EE480A7EN
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The global Powder Metallurgy High-Speed Steel market size is predicted to grow from US$ 743 million in 2025 to US$ 1061 million in 2032; it is expected to grow at a CAGR of 5.3% from 2026 to 2032.

Powder Metallurgy High-Speed Steel (PM-HSS) is a class of highly alloyed high-speed tool steels manufactured through powder metallurgy processing. The production route typically begins with melting steel containing alloying elements such as tungsten, molybdenum, vanadium, cobalt, and chromium, followed by inert-gas atomization to produce fine alloy powders. These powders are subsequently canned, vacuum degassed, consolidated by hot isostatic pressing (HIP), and further processed through forging, rolling, heat treatment, and finishing into bars, plates, flats, wires, billets, and other semi-finished steel forms. Compared with conventionally produced high-speed steel, PM-HSS features finer and more uniformly distributed carbides, lower alloy segregation, and improved microstructural consistency, resulting in enhanced wear resistance, toughness, resistance to edge chipping, hot hardness, and dimensional stability. The powder metallurgy route also enables higher alloying levels, particularly for vanadium- and cobalt-rich grades. Commercial PM-HSS products are differentiated by alloy composition, hardness, wear resistance, toughness, and supply form, and are widely used in high-performance cutting tools, gear-cutting tools, stamping dies, cold-work tooling, industrial knives, and other tooling applications requiring high wear resistance, strength, and reliability.

Key Findings

Powder Metallurgy High-Speed Steel is an important upgrade path for advanced high-speed tool steel

High-vanadium and cobalt-containing grades represent important segments of the high-performance product portfolio

Round bars and flat bars and plates are major commercial supply forms

Cutting tools represent the core downstream application for Powder Metallurgy High-Speed Steel

Global supply combines established European, American, and Japanese producers with expanding Chinese manufacturers

Market Trends

Powder Metallurgy High-Speed Steel is continuing to evolve toward higher alloy content, stronger wear resistance, improved toughness, and more stable heat-treatment performance. Increasing requirements from advanced cutting tools and precision tooling for longer service life, consistency, and performance under demanding operating conditions are shifting competition from basic grade availability toward carbide control, cleanliness, heat-treatment response, and batch-to-batch stability. At the same time, Chinese manufacturers are strengthening gas atomization, HIP consolidation, forging, and rolling capabilities, gradually expanding their coverage of higher-end PM-HSS grades.

Market Dynamics

Drivers

Growing performance requirements in advanced cutting tools, gear-cutting tools, precision stamping tools, and cold work tooling are key drivers for Powder Metallurgy High-Speed Steel. Compared with conventional high-speed steel, PM-HSS offers more uniform carbide distribution and an improved balance between wear resistance and toughness, supporting longer tool life and more consistent machining performance. These advantages increase its material value in high-load, high-precision, and difficult-to-machine material applications.

Restraints

PM-HSS manufacturing involves multiple capital- and energy-intensive processes, including alloy melting, gas atomization, powder handling, canning, hot isostatic pressing, forging, and rolling, resulting in substantially higher production costs than conventional high-speed steel. Price volatility in cobalt, vanadium, tungsten, and molybdenum can further affect manufacturing economics. In standard cutting and general tooling applications, conventional high-speed steel, cemented carbide, and other tool steels can also retain a significant cost advantage.

Opportunities

Localization of high-performance cutting tools, upgrades in advanced manufacturing equipment, and increasing machining requirements in aerospace, electric vehicles, precision machinery, and other demanding industries create structural opportunities for PM-HSS. High-vanadium grades, high-cobalt grades, and customized compositions balancing wear resistance and toughness offer further room for product differentiation. The continued development of domestic powder metallurgy production lines in China also supports import substitution, regional supply, and the development of dedicated grades for local tool manufacturers.

Challenges

A major challenge in PM-HSS production is maintaining consistent powder quality, oxygen content, carbide size, alloy homogeneity, and HIP densification under industrial-scale conditions. High-performance grades also require extensive heat-treatment, grinding, and cutting validation with downstream tool manufacturers, resulting in relatively long qualification cycles for new suppliers. Continued improvements in cemented carbide, powder metallurgy cold work steels, and other advanced tool materials may also create substitution pressure in selected applications.

Industry Chain Analysis

The upstream Powder Metallurgy High-Speed Steel industry chain includes iron-based raw materials, alloying elements such as tungsten, molybdenum, vanadium, chromium, and cobalt, as well as high-purity inert gases, HIP equipment, and powder metallurgy production systems. Midstream manufacturing centers on alloy melting, gas atomization, powder screening and blending, canning and degassing, hot isostatic pressing, forging, rolling, and heat treatment. Through composition design and microstructure control, manufacturers develop grades with different combinations of wear resistance, toughness, and hot hardness. Downstream markets mainly include cutting tools, cold work tooling, plastic processing tooling, and wear parts. Value creation is concentrated in high-quality powder production, carbide control, HIP consolidation, grade development, and stable industrial-scale manufacturing, giving advanced PM-HSS grades a clear technical premium over conventional high-speed steel.

Segment Insights

By cobalt content, the market is divided into Cobalt-Free Type, Low-Cobalt Type (?8%), and High-Cobalt Type (>8%). Cobalt-free grades reduce raw-material costs and dependence on cobalt, while cobalt-containing grades place greater emphasis on hot hardness and high-speed cutting performance. By vanadium content, products are classified into Low-Vanadium Type (?3%), Medium-Vanadium Type (>3–6%), and High-Vanadium Type (>6%). Higher vanadium levels generally increase the proportion of hard carbides and improve wear resistance, while requiring more careful control of toughness and machinability. By product form, Round Bars, Flat Bars & Plates, and Wire & Strips constitute the principal commercial supply forms, supporting different tool, die, and component manufacturing routes.

Downstream Market Opportunities

Cutting tools represent the most important downstream opportunity for Powder Metallurgy High-Speed Steel. High-performance drills, taps, milling cutters, broaches, gear-cutting tools, and complex form tools require strong wear resistance, toughness, and cutting-edge stability, making them important applications for premium PM-HSS grades. Cold work and plastic processing tooling place greater emphasis on balancing wear resistance, compressive strength, and dimensional stability. As machining of difficult alloys, high-strength steels, and precision components expands, PM-HSS materials capable of reducing tool changes and improving process consistency have further penetration potential.

Regional Insights

Europe, Japan, and North America have established PM-HSS industrial bases with long-standing capabilities in high-end grade development, gas atomization, HIP processing, and qualification with advanced tool customers. China has accelerated the industrialization of Powder Metallurgy High-Speed Steel, with Tiangong International, Heye Special Steel, and specialized material producers establishing commercial supply. The Chinese market is gradually evolving from heavy dependence on imported high-end materials toward a structure combining domestic high-performance grades with imported products. The scale of Asian manufacturing and ongoing localization of cutting tools make the region an important area for future market expansion.

Competitive Landscape Analysis

The global Powder Metallurgy High-Speed Steel market has relatively high technical barriers. Erasteel, voestalpine, Carpenter Technology, and established Japanese specialty steel manufacturers maintain mature international supply positions supported by advanced grades, quality consistency, and long-standing customer qualification. Chinese producers including Tiangong International, Heye Special Steel, and Changsha Sapu New Material are expanding localized production and grade portfolios. Future competition is expected to shift from capacity expansion toward powder quality, HIP processing, material cleanliness, grade performance, and application support for high-end cutting tool customers.

Report Scope

LP Information, Inc. (LPI) ' newest research report, the “Powder Metallurgy High-Speed Steel Industry Forecast” looks at past sales and reviews total world Powder Metallurgy High-Speed Steel sales in 2025, providing a comprehensive analysis by region and market sector of projected Powder Metallurgy High-Speed Steel sales for 2026 through 2032. With Powder Metallurgy High-Speed Steel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Powder Metallurgy High-Speed Steel industry.

This Insight Report provides a comprehensive analysis of the global Powder Metallurgy High-Speed Steel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Powder Metallurgy High-Speed Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Powder Metallurgy High-Speed Steel market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Powder Metallurgy High-Speed Steel and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Powder Metallurgy High-Speed Steel.

This report presents a comprehensive overview, market shares, and growth opportunities of Powder Metallurgy High-Speed Steel market by product type, application, key manufacturers and key regions and countries.

Market Segmentation

Segmentation by Type:

  • Cobalt-Free Type
  • Low-Cobalt Type (?8%)
  • High-Cobalt Type (>8%)

Segmentation by Vanadium Content:

  • Low-Vanadium Type (?3%)
  • Medium-Vanadium Type (3–6%)
  • High-Vanadium Type (>6%)

Segmentation by Product Form:

  • Round Bars
  • Flat Bars & Plates
  • Wire & Strips
  • Other

Segmentation by Application:

  • Cutting Tools
  • Cold Work Tooling
  • Plastic Processing Tooling
  • Wear Parts
  • Others

This report also splits the market by region:

  • Americas
    • United States
    • Canada
    • Mexico
    • Brazil
  • APAC
    • China
    • Japan
    • Korea
    • Southeast Asia
    • India
    • Australia
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
  • Middle East & Africa
    • Egypt
    • South Africa
    • Israel
    • Turkey
    • GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
  • Erasteel
  • voestalpine
  • Carpenter Technology
  • Proterial
  • Daido Steel
  • NACHI-FUJIKOSHI
  • Sanyo Special Steel
  • Tiangong International
  • Heye Special Steel
  • Changsha Sapu New Material

Key Questions Addressed in this Report

  • What is the 10-year outlook for the global Powder Metallurgy High-Speed Steel market?
  • What factors are driving Powder Metallurgy High-Speed Steel market growth, globally and by region?
  • Which technologies are poised for the fastest growth by market and region?
  • How do Powder Metallurgy High-Speed Steel market opportunities vary by end market size?
  • How does Powder Metallurgy High-Speed Steel break out by Type, by Application?
1 SCOPE OF THE REPORT

1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats

2 EXECUTIVE SUMMARY

2.1 World Market Overview
  2.1.1 Global Powder Metallurgy High-Speed Steel Annual Sales 2021-2032
  2.1.2 World Current & Future Analysis for Powder Metallurgy High-Speed Steel by Geographic Region, 2021, 2025 & 2032
  2.1.3 World Current & Future Analysis for Powder Metallurgy High-Speed Steel by Country/Region, 2021, 2025 & 2032
2.2 Powder Metallurgy High-Speed Steel Segment by Type
  2.2.1 Cobalt-Free Type
  2.2.2 Low-Cobalt Type (?8%)
  2.2.3 High-Cobalt Type (>8%)
  2.2.4 Powder Metallurgy High-Speed Steel Sales by Type
    2.2.4.1 Global Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
    2.2.4.2 Global Powder Metallurgy High-Speed Steel Revenue and Market Share by Type (2021-2026)
    2.2.4.3 Global Powder Metallurgy High-Speed Steel Sale Price by Type (2021-2026)
2.3 Powder Metallurgy High-Speed Steel Segment by Vanadium Content
  2.3.1 Low-Vanadium Type (?3%)
  2.3.2 Medium-Vanadium Type (3–6%)
  2.3.3 High-Vanadium Type (>6%)
  2.3.4 Powder Metallurgy High-Speed Steel Sales by Vanadium Content
    2.3.4.1 Global Powder Metallurgy High-Speed Steel Sales Market Share by Vanadium Content (2021-2026)
    2.3.4.2 Global Powder Metallurgy High-Speed Steel Revenue and Market Share by Vanadium Content (2021-2026)
    2.3.4.3 Global Powder Metallurgy High-Speed Steel Sale Price by Vanadium Content (2021-2026)
2.4 Powder Metallurgy High-Speed Steel Segment by Product Form
  2.4.1 Round Bars
  2.4.2 Flat Bars & Plates
  2.4.3 Wire & Strips
  2.4.4 Other
  2.4.5 Powder Metallurgy High-Speed Steel Sales by Product Form
    2.4.5.1 Global Powder Metallurgy High-Speed Steel Sales Market Share by Product Form (2021-2026)
    2.4.5.2 Global Powder Metallurgy High-Speed Steel Revenue and Market Share by Product Form (2021-2026)
    2.4.5.3 Global Powder Metallurgy High-Speed Steel Sale Price by Product Form (2021-2026)
2.5 Powder Metallurgy High-Speed Steel Segment by Application
  2.5.1 Cutting Tools
  2.5.2 Cold Work Tooling
  2.5.3 Plastic Processing Tooling
  2.5.4 Wear Parts
  2.5.5 Others
  2.5.6 Powder Metallurgy High-Speed Steel Sales by Application
    2.5.6.1 Global Powder Metallurgy High-Speed Steel Sale Market Share by Application (2021-2026)
    2.5.6.2 Global Powder Metallurgy High-Speed Steel Revenue and Market Share by Application (2021-2026)
    2.5.6.3 Global Powder Metallurgy High-Speed Steel Sale Price by Application (2021-2026)

3 GLOBAL BY COMPANY

3.1 Global Powder Metallurgy High-Speed Steel Breakdown Data by Company
  3.1.1 Global Powder Metallurgy High-Speed Steel Annual Sales by Company (2021-2026)
  3.1.2 Global Powder Metallurgy High-Speed Steel Sales Market Share by Company (2021-2026)
3.2 Global Powder Metallurgy High-Speed Steel Annual Revenue by Company (2021-2026)
  3.2.1 Global Powder Metallurgy High-Speed Steel Revenue by Company (2021-2026)
  3.2.2 Global Powder Metallurgy High-Speed Steel Revenue Market Share by Company (2021-2026)
3.3 Global Powder Metallurgy High-Speed Steel Sale Price by Company
3.4 Key Manufacturers Powder Metallurgy High-Speed Steel Producing Area Distribution, Sales Area, Product Type
  3.4.1 Key Manufacturers Powder Metallurgy High-Speed Steel Product Location Distribution
  3.4.2 Players Powder Metallurgy High-Speed Steel Products Offered
3.5 Market Concentration Rate Analysis
  3.5.1 Competition Landscape Analysis
  3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy

4 WORLD HISTORIC REVIEW FOR POWDER METALLURGY HIGH-SPEED STEEL BY GEOGRAPHIC REGION

4.1 World Historic Powder Metallurgy High-Speed Steel Market Size by Geographic Region (2021-2026)
  4.1.1 Global Powder Metallurgy High-Speed Steel Annual Sales by Geographic Region (2021-2026)
  4.1.2 Global Powder Metallurgy High-Speed Steel Annual Revenue by Geographic Region (2021-2026)
4.2 World Historic Powder Metallurgy High-Speed Steel Market Size by Country/Region (2021-2026)
  4.2.1 Global Powder Metallurgy High-Speed Steel Annual Sales by Country/Region (2021-2026)
  4.2.2 Global Powder Metallurgy High-Speed Steel Annual Revenue by Country/Region (2021-2026)
4.3 Americas Powder Metallurgy High-Speed Steel Sales Growth
4.4 APAC Powder Metallurgy High-Speed Steel Sales Growth
4.5 Europe Powder Metallurgy High-Speed Steel Sales Growth
4.6 Middle East & Africa Powder Metallurgy High-Speed Steel Sales Growth

5 AMERICAS

5.1 Americas Powder Metallurgy High-Speed Steel Sales by Country
  5.1.1 Americas Powder Metallurgy High-Speed Steel Sales by Country (2021-2026)
  5.1.2 Americas Powder Metallurgy High-Speed Steel Revenue by Country (2021-2026)
5.2 Americas Powder Metallurgy High-Speed Steel Sales by Type (2021-2026)
5.3 Americas Powder Metallurgy High-Speed Steel Sales by Application (2021-2026)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil

6 APAC

6.1 APAC Powder Metallurgy High-Speed Steel Sales by Region
  6.1.1 APAC Powder Metallurgy High-Speed Steel Sales by Region (2021-2026)
  6.1.2 APAC Powder Metallurgy High-Speed Steel Revenue by Region (2021-2026)
6.2 APAC Powder Metallurgy High-Speed Steel Sales by Type (2021-2026)
6.3 APAC Powder Metallurgy High-Speed Steel Sales by Application (2021-2026)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan

7 EUROPE

7.1 Europe Powder Metallurgy High-Speed Steel by Country
  7.1.1 Europe Powder Metallurgy High-Speed Steel Sales by Country (2021-2026)
  7.1.2 Europe Powder Metallurgy High-Speed Steel Revenue by Country (2021-2026)
7.2 Europe Powder Metallurgy High-Speed Steel Sales by Type (2021-2026)
7.3 Europe Powder Metallurgy High-Speed Steel Sales by Application (2021-2026)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia

8 MIDDLE EAST & AFRICA

8.1 Middle East & Africa Powder Metallurgy High-Speed Steel by Country
  8.1.1 Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Country (2021-2026)
  8.1.2 Middle East & Africa Powder Metallurgy High-Speed Steel Revenue by Country (2021-2026)
8.2 Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Type (2021-2026)
8.3 Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Application (2021-2026)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries

9 MARKET DRIVERS, CHALLENGES AND TRENDS

9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends

10 MANUFACTURING COST STRUCTURE ANALYSIS

10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Powder Metallurgy High-Speed Steel
10.3 Manufacturing Process Analysis of Powder Metallurgy High-Speed Steel
10.4 Industry Chain Structure of Powder Metallurgy High-Speed Steel

11 MARKETING, DISTRIBUTORS AND CUSTOMER

11.1 Sales Channel
  11.1.1 Direct Channels
  11.1.2 Indirect Channels
11.2 Powder Metallurgy High-Speed Steel Distributors
11.3 Powder Metallurgy High-Speed Steel Customer

12 WORLD FORECAST REVIEW FOR POWDER METALLURGY HIGH-SPEED STEEL BY GEOGRAPHIC REGION

12.1 Global Powder Metallurgy High-Speed Steel Market Size Forecast by Region
  12.1.1 Global Powder Metallurgy High-Speed Steel Forecast by Region (2027-2032)
  12.1.2 Global Powder Metallurgy High-Speed Steel Annual Revenue Forecast by Region (2027-2032)
12.2 Americas Forecast by Country (2027-2032)
12.3 APAC Forecast by Region (2027-2032)
12.4 Europe Forecast by Country (2027-2032)
12.5 Middle East & Africa Forecast by Country (2027-2032)
12.6 Global Powder Metallurgy High-Speed Steel Forecast by Type (2027-2032)
12.7 Global Powder Metallurgy High-Speed Steel Forecast by Application (2027-2032)

13 KEY PLAYERS ANALYSIS

13.1 Erasteel
  13.1.1 Erasteel Company Information
  13.1.2 Erasteel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.1.3 Erasteel Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.1.4 Erasteel Main Business Overview
  13.1.5 Erasteel Latest Developments
13.2 voestalpine
  13.2.1 voestalpine Company Information
  13.2.2 voestalpine Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.2.3 voestalpine Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.2.4 voestalpine Main Business Overview
  13.2.5 voestalpine Latest Developments
13.3 Carpenter Technology
  13.3.1 Carpenter Technology Company Information
  13.3.2 Carpenter Technology Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.3.3 Carpenter Technology Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.3.4 Carpenter Technology Main Business Overview
  13.3.5 Carpenter Technology Latest Developments
13.4 Proterial
  13.4.1 Proterial Company Information
  13.4.2 Proterial Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.4.3 Proterial Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.4.4 Proterial Main Business Overview
  13.4.5 Proterial Latest Developments
13.5 Daido Steel
  13.5.1 Daido Steel Company Information
  13.5.2 Daido Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.5.3 Daido Steel Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.5.4 Daido Steel Main Business Overview
  13.5.5 Daido Steel Latest Developments
13.6 NACHI-FUJIKOSHI
  13.6.1 NACHI-FUJIKOSHI Company Information
  13.6.2 NACHI-FUJIKOSHI Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.6.3 NACHI-FUJIKOSHI Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.6.4 NACHI-FUJIKOSHI Main Business Overview
  13.6.5 NACHI-FUJIKOSHI Latest Developments
13.7 Sanyo Special Steel
  13.7.1 Sanyo Special Steel Company Information
  13.7.2 Sanyo Special Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.7.3 Sanyo Special Steel Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.7.4 Sanyo Special Steel Main Business Overview
  13.7.5 Sanyo Special Steel Latest Developments
13.8 Tiangong International
  13.8.1 Tiangong International Company Information
  13.8.2 Tiangong International Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.8.3 Tiangong International Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.8.4 Tiangong International Main Business Overview
  13.8.5 Tiangong International Latest Developments
13.9 Heye Special Steel
  13.9.1 Heye Special Steel Company Information
  13.9.2 Heye Special Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.9.3 Heye Special Steel Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.9.4 Heye Special Steel Main Business Overview
  13.9.5 Heye Special Steel Latest Developments
13.10 Changsha Sapu New Material
  13.10.1 Changsha Sapu New Material Company Information
  13.10.2 Changsha Sapu New Material Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
  13.10.3 Changsha Sapu New Material Powder Metallurgy High-Speed Steel Sales, Revenue, Price and Gross Margin (2021-2026)
  13.10.4 Changsha Sapu New Material Main Business Overview
  13.10.5 Changsha Sapu New Material Latest Developments

14 RESEARCH FINDINGS AND CONCLUSION
LIST OF TABLES

Table 1. Powder Metallurgy High-Speed Steel Annual Sales CAGR by Geographic Region (2021, 2025 & 2032) & ($ millions)
Table 2. Powder Metallurgy High-Speed Steel Annual Sales CAGR by Country/Region (2021, 2025 & 2032) & ($ millions)
Table 3. Major Players of Cobalt-Free Type
Table 4. Major Players of Low-Cobalt Type (?8%)
Table 5. Major Players of High-Cobalt Type (>8%)
Table 6. Global Powder Metallurgy High-Speed Steel Sales by Type (2021-2026) & (Kilotons)
Table 7. Global Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
Table 8. Global Powder Metallurgy High-Speed Steel Revenue by Type (2021-2026) & ($ million)
Table 9. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Type (2021-2026)
Table 10. Global Powder Metallurgy High-Speed Steel Sale Price by Type (2021-2026) & (US$/Ton)
Table 11. Major Players of Low-Vanadium Type (?3%)
Table 12. Major Players of Medium-Vanadium Type (3–6%)
Table 13. Major Players of High-Vanadium Type (>6%)
Table 14. Global Powder Metallurgy High-Speed Steel Sales by Vanadium Content (2021-2026) & (Kilotons)
Table 15. Global Powder Metallurgy High-Speed Steel Sales Market Share by Vanadium Content (2021-2026)
Table 16. Global Powder Metallurgy High-Speed Steel Revenue by Vanadium Content (2021-2026) & ($ million)
Table 17. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Vanadium Content (2021-2026)
Table 18. Global Powder Metallurgy High-Speed Steel Sale Price by Vanadium Content (2021-2026) & (US$/Ton)
Table 19. Major Players of Round Bars
Table 20. Major Players of Flat Bars & Plates
Table 21. Major Players of Wire & Strips
Table 22. Major Players of Other
Table 23. Global Powder Metallurgy High-Speed Steel Sales by Product Form (2021-2026) & (Kilotons)
Table 24. Global Powder Metallurgy High-Speed Steel Sales Market Share by Product Form (2021-2026)
Table 25. Global Powder Metallurgy High-Speed Steel Revenue by Product Form (2021-2026) & ($ million)
Table 26. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Product Form (2021-2026)
Table 27. Global Powder Metallurgy High-Speed Steel Sale Price by Product Form (2021-2026) & (US$/Ton)
Table 28. Global Powder Metallurgy High-Speed Steel Sale by Application (2021-2026) & (Kilotons)
Table 29. Global Powder Metallurgy High-Speed Steel Sale Market Share by Application (2021-2026)
Table 30. Global Powder Metallurgy High-Speed Steel Revenue by Application (2021-2026) & ($ million)
Table 31. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Application (2021-2026)
Table 32. Global Powder Metallurgy High-Speed Steel Sale Price by Application (2021-2026) & (US$/Ton)
Table 33. Global Powder Metallurgy High-Speed Steel Sales by Company (2021-2026) & (Kilotons)
Table 34. Global Powder Metallurgy High-Speed Steel Sales Market Share by Company (2021-2026)
Table 35. Global Powder Metallurgy High-Speed Steel Revenue by Company (2021-2026) & ($ millions)
Table 36. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Company (2021-2026)
Table 37. Global Powder Metallurgy High-Speed Steel Sale Price by Company (2021-2026) & (US$/Ton)
Table 38. Key Manufacturers Powder Metallurgy High-Speed Steel Producing Area Distribution and Sales Area
Table 39. Players Powder Metallurgy High-Speed Steel Products Offered
Table 40. Powder Metallurgy High-Speed Steel Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
Table 41. New Products and Potential Entrants
Table 42. Market M&A Activity & Strategy
Table 43. Global Powder Metallurgy High-Speed Steel Sales by Geographic Region (2021-2026) & (Kilotons)
Table 44. Global Powder Metallurgy High-Speed Steel Sales Market Share Geographic Region (2021-2026)
Table 45. Global Powder Metallurgy High-Speed Steel Revenue by Geographic Region (2021-2026) & ($ millions)
Table 46. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Geographic Region (2021-2026)
Table 47. Global Powder Metallurgy High-Speed Steel Sales by Country/Region (2021-2026) & (Kilotons)
Table 48. Global Powder Metallurgy High-Speed Steel Sales Market Share by Country/Region (2021-2026)
Table 49. Global Powder Metallurgy High-Speed Steel Revenue by Country/Region (2021-2026) & ($ millions)
Table 50. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Country/Region (2021-2026)
Table 51. Americas Powder Metallurgy High-Speed Steel Sales by Country (2021-2026) & (Kilotons)
Table 52. Americas Powder Metallurgy High-Speed Steel Sales Market Share by Country (2021-2026)
Table 53. Americas Powder Metallurgy High-Speed Steel Revenue by Country (2021-2026) & ($ millions)
Table 54. Americas Powder Metallurgy High-Speed Steel Sales by Type (2021-2026) & (Kilotons)
Table 55. Americas Powder Metallurgy High-Speed Steel Sales by Application (2021-2026) & (Kilotons)
Table 56. APAC Powder Metallurgy High-Speed Steel Sales by Region (2021-2026) & (Kilotons)
Table 57. APAC Powder Metallurgy High-Speed Steel Sales Market Share by Region (2021-2026)
Table 58. APAC Powder Metallurgy High-Speed Steel Revenue by Region (2021-2026) & ($ millions)
Table 59. APAC Powder Metallurgy High-Speed Steel Sales by Type (2021-2026) & (Kilotons)
Table 60. APAC Powder Metallurgy High-Speed Steel Sales by Application (2021-2026) & (Kilotons)
Table 61. Europe Powder Metallurgy High-Speed Steel Sales by Country (2021-2026) & (Kilotons)
Table 62. Europe Powder Metallurgy High-Speed Steel Revenue by Country (2021-2026) & ($ millions)
Table 63. Europe Powder Metallurgy High-Speed Steel Sales by Type (2021-2026) & (Kilotons)
Table 64. Europe Powder Metallurgy High-Speed Steel Sales by Application (2021-2026) & (Kilotons)
Table 65. Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Country (2021-2026) & (Kilotons)
Table 66. Middle East & Africa Powder Metallurgy High-Speed Steel Revenue Market Share by Country (2021-2026)
Table 67. Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Type (2021-2026) & (Kilotons)
Table 68. Middle East & Africa Powder Metallurgy High-Speed Steel Sales by Application (2021-2026) & (Kilotons)
Table 69. Key Market Drivers & Growth Opportunities of Powder Metallurgy High-Speed Steel
Table 70. Key Market Challenges & Risks of Powder Metallurgy High-Speed Steel
Table 71. Key Industry Trends of Powder Metallurgy High-Speed Steel
Table 72. Powder Metallurgy High-Speed Steel Raw Material
Table 73. Key Suppliers of Raw Materials
Table 74. Powder Metallurgy High-Speed Steel Distributors List
Table 75. Powder Metallurgy High-Speed Steel Customer List
Table 76. Global Powder Metallurgy High-Speed Steel Sales Forecast by Region (2027-2032) & (Kilotons)
Table 77. Global Powder Metallurgy High-Speed Steel Revenue Forecast by Region (2027-2032) & ($ millions)
Table 78. Americas Powder Metallurgy High-Speed Steel Sales Forecast by Country (2027-2032) & (Kilotons)
Table 79. Americas Powder Metallurgy High-Speed Steel Annual Revenue Forecast by Country (2027-2032) & ($ millions)
Table 80. APAC Powder Metallurgy High-Speed Steel Sales Forecast by Region (2027-2032) & (Kilotons)
Table 81. APAC Powder Metallurgy High-Speed Steel Annual Revenue Forecast by Region (2027-2032) & ($ millions)
Table 82. Europe Powder Metallurgy High-Speed Steel Sales Forecast by Country (2027-2032) & (Kilotons)
Table 83. Europe Powder Metallurgy High-Speed Steel Revenue Forecast by Country (2027-2032) & ($ millions)
Table 84. Middle East & Africa Powder Metallurgy High-Speed Steel Sales Forecast by Country (2027-2032) & (Kilotons)
Table 85. Middle East & Africa Powder Metallurgy High-Speed Steel Revenue Forecast by Country (2027-2032) & ($ millions)
Table 86. Global Powder Metallurgy High-Speed Steel Sales Forecast by Type (2027-2032) & (Kilotons)
Table 87. Global Powder Metallurgy High-Speed Steel Revenue Forecast by Type (2027-2032) & ($ millions)
Table 88. Global Powder Metallurgy High-Speed Steel Sales Forecast by Application (2027-2032) & (Kilotons)
Table 89. Global Powder Metallurgy High-Speed Steel Revenue Forecast by Application (2027-2032) & ($ millions)
Table 90. Erasteel Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 91. Erasteel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 92. Erasteel Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 93. Erasteel Main Business
Table 94. Erasteel Latest Developments
Table 95. voestalpine Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 96. voestalpine Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 97. voestalpine Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 98. voestalpine Main Business
Table 99. voestalpine Latest Developments
Table 100. Carpenter Technology Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 101. Carpenter Technology Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 102. Carpenter Technology Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 103. Carpenter Technology Main Business
Table 104. Carpenter Technology Latest Developments
Table 105. Proterial Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 106. Proterial Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 107. Proterial Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 108. Proterial Main Business
Table 109. Proterial Latest Developments
Table 110. Daido Steel Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 111. Daido Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 112. Daido Steel Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 113. Daido Steel Main Business
Table 114. Daido Steel Latest Developments
Table 115. NACHI-FUJIKOSHI Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 116. NACHI-FUJIKOSHI Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 117. NACHI-FUJIKOSHI Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 118. NACHI-FUJIKOSHI Main Business
Table 119. NACHI-FUJIKOSHI Latest Developments
Table 120. Sanyo Special Steel Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 121. Sanyo Special Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 122. Sanyo Special Steel Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 123. Sanyo Special Steel Main Business
Table 124. Sanyo Special Steel Latest Developments
Table 125. Tiangong International Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 126. Tiangong International Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 127. Tiangong International Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 128. Tiangong International Main Business
Table 129. Tiangong International Latest Developments
Table 130. Heye Special Steel Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 131. Heye Special Steel Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 132. Heye Special Steel Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 133. Heye Special Steel Main Business
Table 134. Heye Special Steel Latest Developments
Table 135. Changsha Sapu New Material Basic Information, Powder Metallurgy High-Speed Steel Manufacturing Base, Sales Area and Its Competitors
Table 136. Changsha Sapu New Material Powder Metallurgy High-Speed Steel Product Portfolios and Specifications
Table 137. Changsha Sapu New Material Powder Metallurgy High-Speed Steel Sales (Kilotons), Revenue ($ Million), Price (US$/Ton) and Gross Margin (2021-2026)
Table 138. Changsha Sapu New Material Main Business
Table 139. Changsha Sapu New Material Latest Developments

LIST OF FIGURES

Figure 1. Picture of Powder Metallurgy High-Speed Steel
Figure 2. Powder Metallurgy High-Speed Steel Report Years Considered
Figure 3. Research Objectives
Figure 4. Research Methodology
Figure 5. Research Process and Data Source
Figure 6. Global Powder Metallurgy High-Speed Steel Sales Growth Rate 2021-2032 (Kilotons)
Figure 7. Global Powder Metallurgy High-Speed Steel Revenue Growth Rate 2021-2032 ($ millions)
Figure 8. Powder Metallurgy High-Speed Steel Sales by Geographic Region (2021, 2025 & 2032) & ($ millions)
Figure 9. Powder Metallurgy High-Speed Steel Sales Market Share by Country/Region (2025)
Figure 10. Powder Metallurgy High-Speed Steel Sales Market Share by Country/Region (2021, 2025 & 2032)
Figure 11. Product Picture of Cobalt-Free Type
Figure 12. Product Picture of Low-Cobalt Type (?8%)
Figure 13. Product Picture of High-Cobalt Type (>8%)
Figure 14. Global Powder Metallurgy High-Speed Steel Sales Market Share by Type in 2026
Figure 15. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Type (2021-2026)
Figure 16. Product Picture of Low-Vanadium Type (?3%)
Figure 17. Product Picture of Medium-Vanadium Type (3–6%)
Figure 18. Product Picture of High-Vanadium Type (>6%)
Figure 19. Global Powder Metallurgy High-Speed Steel Sales Market Share by Vanadium Content in 2026
Figure 20. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Vanadium Content (2021-2026)
Figure 21. Product Picture of Round Bars
Figure 22. Product Picture of Flat Bars & Plates
Figure 23. Product Picture of Wire & Strips
Figure 24. Product Picture of Other
Figure 25. Global Powder Metallurgy High-Speed Steel Sales Market Share by Product Form in 2026
Figure 26. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Product Form (2021-2026)
Figure 27. Powder Metallurgy High-Speed Steel Consumed in Cutting Tools
Figure 28. Global Powder Metallurgy High-Speed Steel Market: Cutting Tools (2021-2026) & (Kilotons)
Figure 29. Powder Metallurgy High-Speed Steel Consumed in Cold Work Tooling
Figure 30. Global Powder Metallurgy High-Speed Steel Market: Cold Work Tooling (2021-2026) & (Kilotons)
Figure 31. Powder Metallurgy High-Speed Steel Consumed in Plastic Processing Tooling
Figure 32. Global Powder Metallurgy High-Speed Steel Market: Plastic Processing Tooling (2021-2026) & (Kilotons)
Figure 33. Powder Metallurgy High-Speed Steel Consumed in Wear Parts
Figure 34. Global Powder Metallurgy High-Speed Steel Market: Wear Parts (2021-2026) & (Kilotons)
Figure 35. Powder Metallurgy High-Speed Steel Consumed in Others
Figure 36. Global Powder Metallurgy High-Speed Steel Market: Others (2021-2026) & (Kilotons)
Figure 37. Global Powder Metallurgy High-Speed Steel Sale Market Share by Application (2025)
Figure 38. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Application in 2025
Figure 39. Powder Metallurgy High-Speed Steel Sales by Company in 2025 (Kilotons)
Figure 40. Global Powder Metallurgy High-Speed Steel Sales Market Share by Company in 2025
Figure 41. Powder Metallurgy High-Speed Steel Revenue by Company in 2025 ($ millions)
Figure 42. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Company in 2025
Figure 43. Global Powder Metallurgy High-Speed Steel Sales Market Share by Geographic Region (2021-2026)
Figure 44. Global Powder Metallurgy High-Speed Steel Revenue Market Share by Geographic Region in 2025
Figure 45. Americas Powder Metallurgy High-Speed Steel Sales 2021-2026 (Kilotons)
Figure 46. Americas Powder Metallurgy High-Speed Steel Revenue 2021-2026 ($ millions)
Figure 47. APAC Powder Metallurgy High-Speed Steel Sales 2021-2026 (Kilotons)
Figure 48. APAC Powder Metallurgy High-Speed Steel Revenue 2021-2026 ($ millions)
Figure 49. Europe Powder Metallurgy High-Speed Steel Sales 2021-2026 (Kilotons)
Figure 50. Europe Powder Metallurgy High-Speed Steel Revenue 2021-2026 ($ millions)
Figure 51. Middle East & Africa Powder Metallurgy High-Speed Steel Sales 2021-2026 (Kilotons)
Figure 52. Middle East & Africa Powder Metallurgy High-Speed Steel Revenue 2021-2026 ($ millions)
Figure 53. Americas Powder Metallurgy High-Speed Steel Sales Market Share by Country in 2025
Figure 54. Americas Powder Metallurgy High-Speed Steel Revenue Market Share by Country (2021-2026)
Figure 55. Americas Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
Figure 56. Americas Powder Metallurgy High-Speed Steel Sales Market Share by Application (2021-2026)
Figure 57. United States Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 58. Canada Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 59. Mexico Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 60. Brazil Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 61. APAC Powder Metallurgy High-Speed Steel Sales Market Share by Region in 2025
Figure 62. APAC Powder Metallurgy High-Speed Steel Revenue Market Share by Region (2021-2026)
Figure 63. APAC Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
Figure 64. APAC Powder Metallurgy High-Speed Steel Sales Market Share by Application (2021-2026)
Figure 65. China Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 66. Japan Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 67. South Korea Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 68. Southeast Asia Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 69. India Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 70. Australia Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 71. China Taiwan Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 72. Europe Powder Metallurgy High-Speed Steel Sales Market Share by Country in 2025
Figure 73. Europe Powder Metallurgy High-Speed Steel Revenue Market Share by Country (2021-2026)
Figure 74. Europe Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
Figure 75. Europe Powder Metallurgy High-Speed Steel Sales Market Share by Application (2021-2026)
Figure 76. Germany Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 77. France Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 78. UK Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 79. Italy Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 80. Russia Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 81. Middle East & Africa Powder Metallurgy High-Speed Steel Sales Market Share by Country (2021-2026)
Figure 82. Middle East & Africa Powder Metallurgy High-Speed Steel Sales Market Share by Type (2021-2026)
Figure 83. Middle East & Africa Powder Metallurgy High-Speed Steel Sales Market Share by Application (2021-2026)
Figure 84. Egypt Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 85. South Africa Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 86. Israel Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 87. Turkey Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 88. GCC Countries Powder Metallurgy High-Speed Steel Revenue Growth 2021-2026 ($ millions)
Figure 89. Manufacturing Cost Structure Analysis of Powder Metallurgy High-Speed Steel in 2026
Figure 90. Manufacturing Process Analysis of Powder Metallurgy High-Speed Steel
Figure 91. Industry Chain Structure of Powder Metallurgy High-Speed Steel
Figure 92. Channels of Distribution
Figure 93. Global Powder Metallurgy High-Speed Steel Sales Market Forecast by Region (2027-2032)
Figure 94. Global Powder Metallurgy High-Speed Steel Revenue Market Share Forecast by Region (2027-2032)
Figure 95. Global Powder Metallurgy High-Speed Steel Sales Market Share Forecast by Type (2027-2032)
Figure 96. Global Powder Metallurgy High-Speed Steel Revenue Market Share Forecast by Type (2027-2032)
Figure 97. Global Powder Metallurgy High-Speed Steel Sales Market Share Forecast by Application (2027-2032)
Figure 98. Global Powder Metallurgy High-Speed Steel Revenue Market Share Forecast by Application (2027-2032)