The Global Injection Molding Tool Steel Market was valued at USD 2.8 Billion in 2025 and is projected to reach USD 4.1 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period (2024–2030). This growth is driven by the robust expansion of the global plastics industry, increasing demand for precision components, and the trend towards miniaturization in electronics and medical devices.

As the manufacturing sector evolves towards higher efficiency and more complex part geometries, the spotlight is on the key material suppliers who are driving innovation, durability, and performance in tooling. In this blog, we profile the Top 10 Companies in the Injection Molding Tool Steel Industry—a mix of global steel giants, specialty metallurgists, and technology pioneers shaping the future of precision manufacturing.

---

🔟 1. Voestalpine AG

Headquarters: Linz, Austria
Key Offering: High-performance tool steels, Böhler Uddeholm grades, customized alloy solutions

Voestalpine, through its Böhler Uddeholm division, is a global leader in high-performance tool steels. The company provides a comprehensive portfolio of steels known for exceptional wear resistance, toughness, and polishability, serving demanding applications in automotive, packaging, and electronics.

Innovation Initiatives:

• Development of powder metallurgy (PM) steels for superior isotropy

• Investment in digital solutions for tool life prediction and optimization

• Focus on sustainability through energy-efficient production processes

Download FREE Sample Report: Injection Molding Tool Steel Market – View in Detailed Research Report

---

9️⃣ 2. Daido Steel Co., Ltd.

Headquarters: Nagoya, Japan
Key Offering: DC53, DHA1, and other high-grade tool steels, specialty alloys

Daido Steel is a premier Japanese manufacturer renowned for its advanced tool steels, particularly its high-carbon, high-chromium DC53 grade, which offers excellent hardness and dimensional stability. The company is a key supplier to Asia’s precision manufacturing hubs.

Innovation Initiatives:

• Pioneering new steel grades with enhanced thermal fatigue resistance

• Strong R&D focus on materials for high-speed molding and corrosive polymers

---

8️⃣ 3. Hitachi Metals, Ltd.

Headquarters: Tokyo, Japan
Key Offering: HMD5, SLD, YXR series tool steels

Hitachi Metals is a global powerhouse in specialty steels, offering a wide range of injection molding tool steels under its renowned brands. Their products are valued for consistent quality, high purity, and performance in long-run production cycles.

Innovation Initiatives:

• Advanced vacuum degassing and ESR (Electroslag Remelting) technologies

• Development of steels for lightweight and high-strength applications

---

7️⃣ 4. Uddeholm (ASSAB)

Headquarters: Söderfors, Sweden
Key Offering: ASSAB tool steels, including 718, S136, and XW-42 grades

Uddeholm, part of the Voestalpine group and often marketed as ASSAB, has a centuries-old legacy in tool steel manufacturing. It is synonymous with premium quality, offering steels that deliver outstanding performance in the most challenging molding environments.

Innovation Initiatives:

• Global network of technical service and tooling solution centers

• Leadership in pre-hardened and corrosion-resistant steel grades

Download FREE Sample Report: Injection Molding Tool Steel Market – View in Detailed Research Report

---

6️⃣ 5. Baosteel Group

Headquarters: Shanghai, China
Key Offering: B-series mold steels, P20, 718, H13 grades

Baosteel is China’s largest steel producer and a dominant force in the Asian tool steel market. The company supplies a significant portion of the domestic demand for injection molding tool steels, supporting China’s vast manufacturing sector.

Innovation Initiatives:

• Massive scale production ensuring cost competitiveness

• Increasing focus on upgrading product quality to meet international standards

---

5️⃣ 6. ArcelorMittal S.A.

Headquarters: Luxembourg City, Luxembourg
Key Offering: Tool steel plates, bars, and custom forgings

As one of the world’s largest steel producers, ArcelorMittal has a significant presence in the tool steel market. The company supplies a broad range of steel products, including grades suitable for large-scale injection molds used in automotive and consumer goods.

Innovation Initiatives:

• Investment in sustainable steelmaking and circular economy models

• Leveraging global supply chain for reliable material availability

---

4️⃣ 7. Schmiede Werke Groditz GmbH (SWG)

Headquarters: Groditz, Germany
Key Offering: Open-die forgings, block and hollow molds, specialty tool steels

SWG is a German specialist in open-die forgings for tool and mold making. The company is known for producing large, high-integrity tool steel blocks with superior homogeneity, essential for massive injection molds.

Innovation Initiatives:

• Expertise in producing ultra-large mold bases with minimal segregation

• Strong focus on the European automotive and technical molding sectors

---

3️⃣ 8. Nachi-Fujikoshi Corp.

Headquarters: Toyama, Japan
Key Offering: SKS, SKD, and SKH series tool steels, cutting tools

Nachi-Fujikoshi is a diversified engineering company with a strong tool steel division. It is particularly recognized for its high-speed steels and advanced materials used in precision molds for electronic components and intricate parts.

Innovation Initiatives:

• Integrated production from steelmaking to finished cutting tools

• R&D in materials for high-wear and high-temperature applications

---

2️⃣ 9. Kind & Co. Edelstahlwerk

Headquarters: Wiehl, Germany
Key Offering: Tool steels, plastic mold steels, hot-work steels

Kind & Co. is a German family-owned specialty steelmaker with a reputation for high-quality tool steels. The company serves niche markets with a focus on customized solutions and close technical collaboration with mold makers.

Innovation Initiatives:

• Flexible production of small to medium batch sizes

• Strong emphasis on material consistency and traceability

---

1️⃣ 10. Capitol Temptrol, LLC (Capitol Engined Products)

Headquarters: Southington, Connecticut, USA
Key Offering: Tool steel distribution, processing, and supply chain services

Capitol Temptrol is a major distributor and service center for tool steels in North America. The company provides value-added services like cutting, heat treating, and machining, acting as a critical link between steel producers and mold manufacturers.

Innovation Initiatives:

• Extensive inventory and just-in-time delivery capabilities

• Technical support and material selection guidance for customers

Get Full Report Here: Injection Molding Tool Steel Market – View in Detailed Research Report

---

🔧 Outlook: The Future of Injection Molding Tool Steel Is Smarter and More Specialized

The injection molding tool steel market is undergoing a significant transformation. While traditional grades like P20 and H13 remain workhorses, the industry is increasingly demanding high-performance alloys, advanced heat treatment capabilities, and digital integration for smarter tooling.

📈 Key Trends Shaping the Market:

• R&D into grades for high-temperature engineering plastics and bio-polymers

• Integration of Industry 4.0 for predictive maintenance and tool life monitoring

• Growing demand for corrosion-resistant steels for medical and food-grade applications

• Strategic partnerships between steel producers and mold makers to co-develop solutions

Get Full Report Here: Injection Molding Tool Steel Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials—they’re enabling the next generation of manufacturing innovation.