Free cutting steels also known as free machining steels are those steels which form small chips when machined. This increases the machinability of the material by breaking the chips into small pieces, thus avoiding their entanglement in the machinery. This enables automatic run of the equipment without human interaction. Free cutting steels with lead also allow for higher machining rates. As a thumb rule, free cutting steel normally costs 15 % to 20 % more than the standard steel. However this is made up by increased machining speeds, larger cuts, and longer tool life. 

Market Dynamics:

For instance, according to the American Iron and Steel (AIS) in September 2022,  provision requires (United States Department of Agriculture) USDA Rural Utilities Service (RUS) Water and Environmental Programs (WEP) assistance recipients to use iron and steel products that are produced in the U.S. Moreover, the household appliances that are used to process food items mostly have to be food grade as they comes in contact with the food items regularly. For instance, according to Section 409(h)(2)(C) of the Federal Food, Drug, and Cosmetic Act (the Act) in January 2022,  states that an FCN is effective for the manufacturer, the Food Contact Substance (FCS), and the conditions of use identified in the notification and not effective for a similar or identical substance produced or prepared by a manufacturer other than a manufacturer identified in the prior notification. FCNs are proprietary to the manufacturer for which the notification is effective, therefore, the FCS must be obtained from that manufacturer.

In the field of home appliances, free machining steel is used abundantly for exteriors, chasses, panels, and motor parts, etc. free machining steel accounts for large proportions of the materials used in home appliances, although, its use has somewhat decreased since recycling began in earnest. Free machining steel, which is an abundantly available low-cost material has long been employed for home appliances because of its strength and formability. The use of surface-treated steel sheet having better corrosion resistance (longer life) and aesthetic appeal has been increasing. Surface-treated steel sheet has been subjected to plating, conversion coating or painting to impart good corrosion resistance to the steel sheet. For indoor home appliances, electro-galvanized steel sheet with a coating weight of 20 g/m2 is normally used. The purpose of this is to restrain red rust on steel by taking advantage of the preferential corrosion (sacrificial protection) of zinc under general conditions.

Key features of the study:

• This report provides an in-depth analysis of global free machining steel market, and provides market size (US$ Million and Tons) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global free machining steel market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Daido Steel, Hitachi Metals, Saarstahl AG, Akiyama Seiko, China BaoWu Steel Group Corporation Limited, Valin Group, Shougang Group, Kobe Steel, HBIS Group, Huaigang Special Steel, JFE Steel Corporation, POSCO
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global free machining steel market report caters to various stakeholders in this industry including investors, suppliers, extruded aluminum profiles manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global free machining steel market

Detailed Segmentation:

• Global Free Machining Steel Market, By Type:
  • Sulfur Free Machining Steel
  • Lead Free Machining Steel
  • Calcium Free Machining Steel
  • Others (Rephosphorized Free Cutting Steel, etc.)
• Global Free Machining Steel Market, By Application:
  • Lathe Processing
  • Electronics Industry
  • Automotive
  • Others (Office equipment, Household Appliances, etc.)
• Global Free Machining Steel Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East & Africa
    • By Country/Region:
      • Middle East
      • Africa
• Company Profiles
  • Daido Steel*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Hitachi Metals
  • Saarstahl AG
  • Akiyama Seiko
  • China BaoWu Steel Group Corporation Limited
  • Valin Group
  • Shougang Group
  • Kobe Steel
  • HBIS Group
  • Huaigang Special Steel
  • JFE Steel Corporation
  • POSCO

 “*” marked represents similar segmentation in other categories in the respective section.