This report provides exclusive insights into the COVID-19 impact on the Advanced High Strength Steel Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Advanced High Strength Steel Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Advanced High Strength Steel Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on advanced high strength steel market provides
in-depth analysis of segments and sub-segments in the global as well as
regional advanced high strength steel market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
advanced high strength steel market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of the global advanced high strength steel market. According to the report,
the global advanced high strength steel market is projected to grow at a CAGR
of 8.3% over the forecast period of 2019-2025.
Advanced high strength steel is
considered to be a new generation of steel. It provides high strength and
durability during maintaining formability in the manufacturing process.
Advanced high strength steel offers enhanced fuel efficiency, quality, and
affordability. The key companies operating in the global advanced high strength
steel market are focusing on strategic mergers, acquisitions, and
collaborations that maximize their market share. For instance, in 2018,
ArcelorMittal acquired Essar Steel to focus on increasing efficiency and
cost-cutting. ArcelorMittal is one of the best companies in building advanced
high strength steel for automobiles.
The growing consumption of high
strength steel in the construction and automotive industries boosts the growth
of advanced high strength steel market. The effective characteristics of high
strength steels stimulate the growth of advanced high strength steel market.
The rising urbanization and industrialization drive the growth of advanced high
strength steel market. The increasing aerospace industry globally contributes
to the growth of the advanced high strength steel market. In addition,
increasing the adoption of lightweight components in automobiles and growing
conscious regarding CO2 emissions propel the growth of advanced high strength
steel markets. On the other side, high raw material prices promote production
costs of advanced high strength steel hindering the growth of advanced high
strength steel market. Moreover, increasing use of high strength steel in
developing countries creates numerous opportunities in the global advanced high
strength steel market.
Based on geography, the global
advanced high strength steel market is classified into North America,
Asia-Pacific, Europe, and the Rest of the World. North America is anticipated
to have a premium share in the global advanced high strength steel market. The
surge in demand for lightweight vehicles and rising fuel economy standards in
North America contribute to the growth of the advanced high strength steel
market in North America. Asia-Pacific region is expected to grow with a healthy
CAGR over the forecast period. Europe is showing growth in the global advanced
high strength steel market.
The report on the global advanced high
strength steel market covers segments such as grade and end-user. On the basis
of grade, the sub-markets include dual-phase, transformation-induced
plasticity, complex phase, and other grades. On the basis of end-user, the
sub-markets include construction, automotive, aviation & marine, and other
The report provides profiles of
the companies in the market such as AK Steel Corporation, Tata Steel Limited,
ArcelorMittal S.A., NanoSteel Co., MTL Advanced Ltd., Baoshan Iron and Steel
Co., Ltd., Kobe Steel Ltd., Nucor Corporation, Nippon Steel Corporation, JFE
Steel Corporation, and other companies.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of advanced high strength steel market. Moreover, the study highlights
current market trends and provides forecast from 2019-2025. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.