The Global Powder Metallurgy Tool Steels Powder Market was valued at USD 1.28 Billion in 2024 and is projected to reach USD 1.86 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period (2024–2029). This growth is being driven by escalating demand for high-performance tools in the automotive, aerospace, and heavy machinery sectors, the superior properties of PM tool steels over conventional variants, and the accelerating adoption of additive manufacturing (3D printing) technologies.

As global manufacturing moves toward more sophisticated, efficient, and durable production processes, the focus intensifies on the specialized material producers who enable these advancements. In this blog, we profile the Top 10 Companies in the Powder Metallurgy Tool Steels Powder Industry—a group of advanced material specialists and steel giants shaping the future of precision tooling and wear-resistant components.

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🔟 1. Daido Steel

Headquarters: Nagoya, Japan
Key Offering: High-Speed Steel Powders, Cold/Hot Work Tool Steel Powders

Daido Steel is a global leader in specialty steels, with a formidable presence in the powder metallurgy tool steels segment. The company’s advanced PM steel powders are renowned for their exceptional hardness, wear resistance, and toughness, making them ideal for demanding applications like metal cutting tools and forming dies.

Innovation & Technological Initiatives:

• Development of proprietary gas atomization technologies for fine, spherical powders

• Focus on high-alloy steels for additive manufacturing applications

• Extensive R&D in powder characteristics for improved sinterability and final part performance

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9️⃣ 2. Carpenter Technology Corporation

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: Custom 465® Stainless, Powder Metallurgy High-Temperature Alloys, Tool Steel Powders

Carpenter Technology is a premier producer and distributor of premium specialty alloys, including a range of high-performance powder metallurgy tool steels. Their powders are engineered for critical applications in the aerospace, defense, and energy sectors, where material consistency and performance are paramount.

Innovation & Technological Initiatives:

• Leadership in atomization technology for ultra-clean, gas-atomized powders

• Strategic expansion of additive manufacturing powder portfolio

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8️⃣ 3. Bohler (voestalpine High Performance Metals GmbH)

Headquarters: Kapfenberg, Austria
Key Offering: Bohler PM Tool Steels (e.g., S390, K390), Additive Manufacturing Powders

Bohler, part of the voestalpine Group, is a world-renowned name in high-performance tool steels. Its powder metallurgy line offers steels with superior properties, such as high red-hardness and exceptional abrasion resistance, serving the tool and die-making industry globally.

Innovation & Technological Initiatives:

• Pioneering PM grades for maximized tool life in cutting and molding

• Integration of digital solutions for powder quality traceability

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Powder Metallurgy Tool Steels Powder Market – View in Detailed Research Report

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7️⃣ 4. Erasteel

Headquarters: Sassenage, France
Key Offering: ASP® Powder Metallurgy High-Speed Steels, Cold Work Tool Steels

Erasteel, a subsidiary of Sandvik, is a global specialist in high-speed steels and tool steels produced via powder metallurgy. The company’s ASP® powders are industry standards for applications requiring a perfect balance between toughness and wear resistance.

Innovation & Technological Initiatives:

• World’s leading producer of PM high-speed steels

• Continuous development of grades for improved performance in machining difficult-to-cut materials

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6️⃣ 5. Hitachi Metals, Ltd.

Headquarters: Tokyo, Japan
Key Offering: HAP Series PM Tool Steels, High-Performance Alloy Powders

Hitachi Metals boasts a comprehensive portfolio of advanced materials, including a robust line of powder metallurgy tool steels. Their products are critical for manufacturing precision components in the automotive and electronics industries, known for their consistency and reliability.

Innovation & Technological Initiatives:

• Development of environmentally friendly, high-productivity tool steels

• Investment in R&D for next-generation PM steels for additive manufacturing

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5️⃣ 6. Aubert & Duval

Headquarters: Les Ancizes, France
Key Offering: PM High-Speed Steels, Tool Steels for Additive Manufacturing, Superalloys

Aubert & Duval develops high-performance alloys for the most demanding sectors, including aerospace, nuclear, and tooling. Their powder metallurgy tool steels are engineered to withstand extreme conditions of pressure, temperature, and wear.

Innovation & Technological Initiatives:

• Expertise in metallurgy for extreme environments

• Strong focus on supplying qualified powders for aerospace AM applications

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4️⃣ 7. Sanyo Special Steel Co., Ltd.

Headquarters: Himeji, Japan
Key Offering: Specialty Tool Steel Powders, Bearing Steels, High-Grade Alloy Powders

Sanyo Special Steel is a key Japanese manufacturer with a significant stake in the powder metallurgy tool steels market. The company’s powders are used to produce long-life tools and components for the automotive and industrial machinery markets.

Innovation & Technological Initiatives:

• Advanced powder production facilities ensuring high purity and uniformity

• Research into new alloy compositions for enhanced performance characteristics

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3️⃣ 8. KIND & Co.

Headquarters: Wuppertal, Germany
Key Offering: Pre-alloyed Steel Powders, High-Speed Steel Powders for PM Parts

KIND & Co. is a prominent European supplier of metal powders, including a dedicated range for tool steel applications. The company serves the PM parts industry, providing high-quality powders that enable the production of complex, high-strength components.

Innovation & Technological Initiatives:

• Specialization in customized powder blends for specific customer requirements

• Focus on sustainable production processes within the powder metallurgy chain

Download FREE Sample Report:
Powder Metallurgy Tool Steels Powder Market – View in Detailed Research Report

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2️⃣ 9. Tiangong International Company Limited

Headquarters: Jiangsu, China
Key Offering: PM Tool Steels, High-Speed Steel Powders, Die Steel Powders

Tiangong International is a leading Chinese manufacturer of high-speed steel and tool steel, with a growing footprint in the powder metallurgy segment. The company plays a crucial role in supplying the domestic Chinese market and expanding its global reach.

Innovation & Technological Initiatives:

• Significant investment in scaling up PM production capacity

• Development of cost-effective powders for mass-production applications

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

Headquarters: Beijing, China
Key Offering: Advanced Metal Powders, Functional Materials, PM Tool Steel Powders

AT&M is a major advanced materials supplier in China, involved in the research, development, and production of a wide array of metallic powders. Its powder metallurgy tool steels support the country’s rapidly advancing manufacturing and tooling industries.

Innovation & Technological Initiatives:

• Strong governmental and institutional R&D partnerships

• Focus on indigenously developing high-end powders to reduce import reliance

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Powder Metallurgy Tool Steels Powder Market – View in Detailed Research Report

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🌍 Outlook: The Future of PM Tool Steels Powder Is High-Performance and Digitized

The powder metallurgy tool steels market is experiencing a significant transformation. While traditional tool steels remain relevant, the industry is increasingly investing in PM technologies that offer unparalleled material properties, supply chain efficiency through additive manufacturing, and customized material solutions.

📈 Key Trends Shaping the Market:

• Accelerated adoption of Metal Additive Manufacturing (3D Printing) for complex tools and dies

• Growing demand for materials that enable higher machining speeds and longer tool life

• Increasing R&D into nano-structured and composite PM tool steels

• Strategic collaborations between powder producers and end-user industries to co-develop application-specific materials

Read Full Report:
Powder Metallurgy Tool Steels Powder Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials to global industry—they are at the forefront of innovation, enabling the next generation of manufacturing capabilities.