The Global High Speed Steels Market Size was estimated at USD 2271.54 million in 2023 and is projected to reach USD 2924.33 million by 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 4.30% during the forecast period. This sustained growth is fueled by the escalating demand for durable and high-performance cutting tools across the automotive, aerospace, and heavy machinery sectors, coupled with advancements in metallurgical technologies that enhance the durability and heat resistance of these specialized steels.

As global manufacturing intensifies its focus on precision, efficiency, and tool longevity, the role of high-speed steel (HSS) becomes increasingly critical. In this competitive landscape, a select group of companies leads the charge through innovation, extensive product portfolios, and global supply chains. This blog profiles the Top 10 Companies in the High Speed Steels Industry—key alloy producers and tooling specialists that are shaping the backbone of modern machining and fabrication.

---

🔟 1. Sandvik Group

Headquarters: Sandviken, Sweden
Key Offering: Premium HSS grades, CoroMill® Plura solid end mills, and cemented carbide tools

Sandvik Group, through its Sandvik Materials Technology division, is a global leader in high-performance alloys, including a comprehensive range of high-speed steels. Renowned for their research and development, Sandvik’s HSS products are engineered for extreme conditions, offering superior wear resistance and toughness for metal cutting and forming applications worldwide.

Innovation Focus:

• Development of powder metallurgy (PM) HSS grades for enhanced performance

• Digital tool management and automation solutions for manufacturing

• Sustainability initiatives focused on recycling hard metals and reducing CO2 emissions

Download FREE Sample Report: Global High Speed Steels Market – View in Detailed Research Report

---

9️⃣ 2. Daido Steel Co., Ltd.

Headquarters: Nagoya, Japan
Key Offering: High-speed tool steels, die steels, and specialty alloys

Daido Steel is a premier Japanese manufacturer with a formidable reputation in specialty steels. Its high-speed steel portfolio includes advanced grades like DEX20 and DEX40, which are critical for producing high-precision cutting tools, drills, and end mills used in automated and high-volume manufacturing processes.

Innovation Focus:

• Proprietary heat treatment technologies to maximize steel performance

• Strong focus on the Asian automotive and electronics supply chains

---

8️⃣ 3. Nachi-Fujikoshi Corp.

Headquarters: Toyama, Japan
Key Offering: Nachi brand cutting tools, bearings, and hydraulic equipment

Nachi-Fujikoshi is a diversified industrial manufacturer with a dominant position in the cutting tools market. The company produces its own high-speed steel as a raw material for its extensive range of drills, taps, end mills, and inserts, ensuring strict quality control from alloy production to the finished tool.

Innovation Focus:

• Integration of HSS production with precision tool manufacturing

• Development of multi-functional and coated HSS tools for extended life

---

7️⃣ 4. Voestalpine AG

Headquarters: Linz, Austria
Key Offering: Bohler brand tool steels, high-speed steels, and special forgings

Voestalpine’s High Performance Metals division, marketed under the renowned Böhler brand, is a global powerhouse for tool steels and high-speed steels. The company supplies premium HSS grades to toolmakers and mold manufacturers serving the automotive, aerospace, and energy industries, with a strong emphasis on customized material solutions.

Innovation Focus:

• Leadership in isothermal annealing and other precision steelmaking processes

• Global service network providing technical support and material expertise

Download FREE Sample Report: Global High Speed Steels Market – View in Detailed Research Report

---

6️⃣ 5. Kennametal Inc.

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: HSS and carbide metal cutting tools, tooling systems

Kennametal is a leading global supplier of tooling and engineered components. While known for its cemented carbide tools, the company maintains a significant portfolio of high-speed steel tooling, particularly for specific machining applications where the toughness of HSS is advantageous over harder, more brittle materials.

Innovation Focus:

• Advanced geometric designs for HSS tools to improve chip removal and surface finish

• Digital machining solutions and IoT-enabled tool management

---

5️⃣ 6. Erasteel (A subsidiary of Eramet Group)

Headquarters: Paris, France
Key Offering: ASP® brand powder metallurgy high-speed steels

Erasteel is the world’s leading producer of powder metallurgy (PM) high-speed steels. Its ASP® grades offer a unique combination of high hardness, wear resistance, and toughness, making them the material of choice for the most demanding cutting tool applications, such as gear hobbing and high-performance milling.

Innovation Focus:

• Pioneering and scaling up gas atomization PM technology for HSS

• Focus on sustainable production processes and recycling of alloying elements

---

4️⃣ 7. Thyssenkrupp AG

Headquarters: Essen, Germany
Key Offering: Tool steels, high-speed steels, and stainless steels

Thyssenkrupp’s Materials Services division is a major distributor and processor of steel products, including a wide array of high-speed steels. The company leverages its vast European logistics network to supply semi-finished and finished HSS products to a broad industrial customer base.

Innovation Focus:

• Supply chain optimization and digital material sourcing platforms

• Provision of value-added services like cutting, sawing, and heat treatment

---

3️⃣ 8. Kobe Steel, Ltd.

Headquarters: Kobe, Japan
Key Offering: Specialty steels, aluminum, and copper products

Kobe Steel is a key Japanese player in the specialty steel market, producing high-quality high-speed steels that meet the exacting standards of the country’s advanced manufacturing sector. Its steels are used in a variety of cutting and machining tools essential for electronics and automotive production.

Innovation Focus:

• Continuous improvement in steel purity and homogeneity

• R&D focused on new alloy compositions for higher red-hardness

---

2️⃣ 9. Guhring, Inc.

Headquarters: Brookfield, Wisconsin, USA
Key Offering: Precision cutting tools, drills, taps, and end mills from HSS and carbide

Guhring is a world-renowned manufacturer of precision cutting tools. While it extensively uses carbide, the company maintains a strong position in the HSS tool market, particularly for drills and reamers. Guhring is known for its proprietary surface treatments and coatings that significantly extend the life of its HSS tools.

Innovation Focus:

• Expertise in tool coating technologies like TiN, TiCN, and AlCrN

• Global production and sharpening service network

---

1️⃣ 10. Advanced Technology & Materials Co., Ltd. (AT&M)

Headquarters: Beijing, China
Key Offering: Advanced metallic materials, including high-speed steels and hard alloys

AT&M is a leading Chinese high-tech enterprise specializing in advanced materials. The company produces a range of high-speed steels that cater to the vast domestic manufacturing industry, supporting China’s position as a global manufacturing hub. Its focus on R&D ensures a steady pipeline of new materials tailored to evolving industrial needs.

Innovation Focus:

• Significant investment in domestic R&D for advanced metallurgy

• Strategic role in supplying critical materials to China’s automotive and aerospace sectors

Get Full Report Here: Global High Speed Steels Market – View in Detailed Research Report

---

🔧 Outlook: The Future of High Speed Steels is Smarter and More Specialized

The high-speed steels market is evolving beyond traditional alloys. While M2 and M35 grades remain workhorses, the industry is accelerating toward specialized, application-specific solutions that offer greater precision, longer tool life, and higher productivity for modern manufacturing challenges.

📈 Key Trends Shaping the Market:

• Growing adoption of Powder Metallurgy (PM) HSS for superior performance in demanding applications

• Increasing demand for coated HSS tools that bridge the performance gap with carbide at a lower cost

• Rising emphasis on sustainability through alloy recycling and energy-efficient production processes

• Integration of digital tool monitoring and predictive maintenance with HSS tooling systems

Get Full Report Here: Global High Speed Steels Market – View in Detailed Research Report

The top companies profiled are not just supplying raw materials—they are enabling the precision and efficiency that defines advanced manufacturing worldwide.