Advanced High Strength Steel Market

Advanced High Strength Steel Market (Grade - Dual-phase, Transformation-induced Plasticity, Complex Phase, and Other Grades; End-user - Construction, Automotive, Aviation & Marine, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : CM00800

  • Category : Chemicals & Materials

  • Status : Published

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.

 

Market Insight

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.

 

Segment Covered

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 end-users.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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