Global High Strength Steel Market - Segmented by Type, Application, and Geography - Trends and Forecasts (2017 - 2022)
Breaking News: Audi A8 switched back to high strength steel. Earlier, Audi A8 body structure was built by using 8% of steel and, by 2018, the model is expected to use 40.5% steel, including press-hardenable steel supplied by ArcelorMittal. The market was valued at USD XX million in 2016 and is projected to reach USD XX million by 2022, registering a CAGR of XX%, during 2017-2022 (the forecast period).High strength steel (also known as high strength alloy steel) consists of low carbon steel with a small amount of molybdenum, niobium, and titanium. This high strength steel provides better resistance to corrosion than the carbon steel. Moreover, it differs from the other steel types that are not built to meet a specific chemical composition, rather meet the mechanical properties. According to application requirement, a specific high strength steel can be selected on the basis of thickness reduction, corrosion resistance, formability, and weldability.
Market Dynamics:Demand for automotive industries and the continuous recycling of high strength steel are driving the global high strength steel market growth. However, due to the challenges faced while developing high strength steel, the market growth can get affected.
Market Segmentation:The global high strength steel market has been segmented on the basis of type and application. Based on type, the market has been segmented into dual phase steel, bake hardenable steel, carbon manganese steel, and others. In 2016, the dual phase steel sub-segment dominated the market, with a share of XX%. Based on application, the market has been segmented into automotive, construction, yellow goods & mining equipment, and aviation & marine. In 2016, the automotive sub-segment dominated the market with a share of XX%.Geographically, the market has been segmented into North America, South America, the Middle East & Africa, Europe, and Asia-Pacific.
Opportunities:The ongoing industrial and infrastructural developments in Asia-Pacific is the major opportunity for the global high strength steel market.
Major Market Players Include:
• United States Steel Corporation
• Tata Steels Ltd.
• JSW Steel
• Hyundai Steel Company
Key Deliverables in the Study
• Market analysis, with country-specific assessments and competition analysis on global scale
• Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
• Extensively researched competitive landscape section with profiles of major companies, along with their market share
• Identification and analysis of the macro and micro factors that affect the high strength steel market on the global level
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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