Tools steels are defined by their wear resistance, hardness, and durability which, in large part, is achieve by the presence of carbide-forming alloys such as chromium, molybdenum, tungsten, and vanadium. This chapter describes the alloying principles employed in various tool steels, including high-speed, water-hardening, shock-resistant, and hot and cold work tool steels. It discusses the influence of alloy design on the evolution of microstructure and properties during solidification, heat treating, and hardening operations. It also describes critical phase transformations and the effects of partitioning, precipitation, segregation, and retained austenite.

There is a fairly wide variety of different tool steels for different applications. The American Iron and Steel Institute (AISI) classification of tool steels includes seven major categories: water-hardening tool steels, shock-resisting tool steels, cold work tool steels, hot work tool steels, low-alloy special-purpose tool steels, mold tool steels, high-speed tool steels, and powder metallurgy tool steels. This chapter provides discusses the manufacturing process, composition, properties, types, and applications of these tool steels and other cutting tool materials, such as cemented carbides. It also describes the methods of applying coatings to cutting tools to improve tool life.

The water-hardening steels are either essentially plain carbon steels or very low-alloy carbon steels. As a result, the water-hardening tool steels are the least expensive of tool steels and require strict control of processing and heat treatment to achieve good properties and performance. This chapter provides an overview of general processing and performance considerations of water-hardening tool steels. It describes the microstructural characteristics and hardenability of water-hardening tool steels. The chapter discusses the processes involved in the hardening and tempering of water-hardening tool steels.