Global High Strength Steel Market 2019-2026
The Global High Strength Steel is expected to grow at a CAGR of 9.2% during the forecast period 2019-2026. Increasing demand for High Strength Steel in Automotive and Aerospace sector due to its improved mechanical properties and better resistance to corrosion has proved to be the primary drivers of the market.
Estimated Worldwide Demand for Steel, 2016 – 2018, in million metric tons
Components made of High Strength Steel are lightweight, highly resistant to corrosion, and have improved yield strength in comparison to other metallic alloys. Thus, it finds growing use in automotive and construction fields as the improved mechanical properties provide better structural support and ensure the longevity of products. This acts as drivers to the market growth.
Environmental impact of Steel production is a major aspect of concern due to increasing greenhouse gases emissions. Product components also have to fulfill the stringent safety regulations put forth by regulatory authorities. These factors deter the growth of the market.
Based on Type, the market is segmented into High Strength Low Alloys, Advanced High Strength Steel, and Ultra High Strength Steel. High Strength Low Alloys lead the market share by type due to their better toughness and strength-to-weight ratio owing to low carbon content. As such, High Strength Steel Alloys are used in applications which are designed to handle large amounts of stress. The Advanced High Strength Steel is further segmented into Dual Phase and Transformation Induced Plasticity, based on their yield strength and uses.
Geographically, Asia Pacific is the largest consumer market of High Strength Steel driven by high demand in emerging economies of countries like China, India, and Japan. The high growth rate of structural construction and industrial machinery will ensure that the region remains a leading player in the forecast period. It is followed by Europe as the region witnesses a rise in the use of High Strength Steel in the Automotive industry.
DataM analyses the complete scenario of the Global High Strength Steel market, market segmentation, geography analysis, companies, trends and opportunities in the market. The market is further categorized based on Application, which includes Automotive, Construction, Aerospace, Defense, and Others. The report segments the geographies by regions, which include Asia Pacific, North America, South America, Europe, and RoW.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. The report profiles the following companies, which includes United States Steel Corporation, Voestalpine, Nippon Steel & Sumitomo Metal Corporation, ArcelorMittal, Tata Steel, SSAB, POSCO, Ansteel Group Corporation, Baosteel Group Corporation, and AK Steel.
Key market segments covered
• High Strength Low Alloy Steel
• Advanced High Strength Steel
• Ultra High Strength Steel
• Asia Pacific
• North America
• South America
• Rest of the World
Why purchase the report
• Visualize the composition of the High Strength Steel market across each indication, in terms of type and applications, highlighting the key commercial assets and players.
• Identify commercial opportunities in High Strength Steel by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the High Strength Steel market – level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for the key High Strength Steel products of all major market players.
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
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