High Strength Steel is defined as steel that has yield strength ranging between 210-550 MPa and a tensile strength 270 to 700MPa. High strength steel is the type of steel that promotes high yield due to strengthening mechanisms that were employed on the steel to achieve better strength, toughness, fatigue and ductility. High strength steel is used in a wide variety of applications, most prominent are automotive, heavy machinery manufacturing, energy and power, ship building, aerospace, packaging and consumer goods. Most commonly high strength steel is produced with the cold rolled process followed by hot rolled, metallic rolled and direct rolled. High strength steel also reduce production cost, provide environmental & financial advantages in various application of automotive and construction sectors such as structural designing of auto parts, lifting equipment, materials handling, trailers and others.
Global high strength steel market is projected to register a healthy CAGR of 8.26% in the forecast period of 2019 to 2026.
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Global High Strength Steel Market, By Grade (High Strength Low alloy, Dual Phase, Transformation Inducted Plasticity, Bake hardenable, Rephosphorised steel and Interstitial Free), Product Type (Cold Rolled, Hot Rolled, Metallic Coated and Direct Rolled), End User (Automotive, Construction, Heavy Machinery, Ship Building, Aerospace, Energy & Power, Packaging, Consumer Goods), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa)– Industry Trends and Forecast to 2026
- In November, 2018, SSAB AB announced the launch of Strenx 1100 Plus strip steel which is a hot-rolled, high-strength steel that possesses unique weld properties and delivers outstanding welding and bending performance. This product launch will help in the manufacturing and production of automotive components in China.
- In August 2018, AK Steel Corporation announced the launch of NEXMET, an innovative range of high strength steel, which is applicable for lightweight components in the automotive industry. These products are designed for the manufacturing of automotive original equipment.
Competitors/Players: Global High Strength Steel Market
Voestalpine AG, POSCO ,ArcelorMittal S.A. ,SSAB AB , NIPPON STEEL & SUMITOMO METAL CORPORATION ,Tata Steel , SAIL , United States Steel, Baosteel Group, Severstal JSC , ThyssenKrupp AG , JFE Steel Corporation, Nucor, JSW Among Others
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Competitive landscape :
Global High Strength Steel Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares high strength steel market for global, Europe, North America, Asia Pacific and South America.
Drivers and Restraints:
- Increasing consumption of high strength steels in the automotive and construction
- Effective characteristics of high strength steels
- High production costs of high strength steels due to increased prices of raw materials
- Increased consumption of high strength steels in emerging economics
- Advancements in the grades of advanced high strength steels and ultra-high strength steels
Segmentation: Global High Strength Steel Market
The global high strength steel market is segmented based on
- type, end-use industry, geographical segments
Based on type, the global high strength steel market is segmented into
- high strength low alloy, dual phase, bake hardenable, carbon manganese, others
On the basis of end-use industry, the global high strength steel market is segmented into
- automotive, yellow goods & mining equipment, construction, aviation & marine, others
Based on geography, the global high strength steel market report covers data points for 28 countries across multiple geographies namely
- North America & South America, Europe, Asia-Pacific, Middle East & Africa
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