M42 high speed steel(HSS),a high grade alloy,was produced using the spray forming technology.Optical metallography(OM),X-ray diffraction(XRD)and scanning electron microscope(SEM)were used to investigate the microstructures of the as-sprayed M42 HSS and the as-atomized powders.It is found that as-sprayed M42 HSS is composed of martensite,retained austenite and carbides.The grain size,as well as the morphology,size and distribution of the carbides have been greatly improved compared with those of the as-cast M42 steel(a traditional process).The size of the powder obtained at a high cold speed was ranged from 50 μm to 100 μm in diameter.Its representative microstructures include dendrite,dendritic fragments,a mixture of dendrites,equiaxed grains and dendritic fragments,and equiaxed grains.The rapid solidification in the spray forming is a key factor to cause the refinement of the M42 HSS.