High Strength Steel Market Expected to Collect $46.62 Billion by 2026 | Arcelor Mittal S.A., TATA Steel, SSAB AB, POSCO and more.

The global high strength steel market is expected to reach USD 46.62 Billion by 2026, according to a new report by Reports and Data. High strength steel is mainly deployed for structural applications as well as in the automobile industry. The growing need to reduce the weight of the automotive and thus, consumption of energy, is expected to stimulate product demand in the upcoming years. Further, increasing investments by steel manufacturers in the research and development activities is anticipated to drive the market growth in the forecast period. At present, the body of a passenger car comprises around 80% high strength steel, the bulk of which is HSLA steel and an increasing share is multiphase steel.

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Key participants include Arcelor Mittal S.A., United States Steel Corporation, Baosteel Group Corporation, TATA Steel, SSAB AB, Nippon Steel & Sumitomo Steel Corporation, POSCO, Steel Authority of India Limited, Anang Steel Company Limited, Nucor Corporation, JSW Steel, and JSW Steel, among others.

The rapid growth of the aerospace industry and increasing rate industrialization and urbanization in emerging economies is forecasted to open a window of opportunities for the players in the market.

For the purpose of this report, Reports and Data have segmented the global high strength steel market on the basis of product type, application, industry vertical, and region:

Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
o High-Strength Low-Alloy (HSLA) Steel
o Transformation-Inducted Plasticity (TRIP) Steel
o Bake Hardenable (BH) Steel
o Dual-Phase (DP) Steel
o Carbon Manganese Steel
o Others

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
o Body & Closures
o Suspensions
o Bumpers
o Others

Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
o Automotive
o Construction
o Aerospace
o Mining
o Others

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Regional Outlook (Revenue in USD Million; 2016-2026)
o North America (United States, Canada and Mexico)
o Europe (Germany, France, UK, Russia and Italy)
o Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
o South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest
o By product type, dual-phase steel held a considerable market share in 2018 and is expected to grow at a rate of 7.6% in the forecast period. At the same yield strength, dual-phase steels have higher tensile strength and elongation as compared to HSLA steel. Furthermore, as more complex shapes can be formed from this product type, the part geometry can be engineered to deliver excellent crash response.
o By application, body & closures contributed to the largest market share in 2018. This is owing to the benefits provided by the product in reducing body weight and increasing fuel-efficiency. Additionally, the product also increases the crash-resistance of automobiles.
o North America region held the second largest market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. The high demand in this region may be attributed to its healthy aerospace and marine sectors, as high strength steel finds widespread application to produce lightweight components...Continued

Reasons to buy this market intelligence report:
1. Detailed market evaluation both at regional and global levels.
2. Significant changes in market scenario, along with an extensive competitive analysis
3. Classification of the industry based on product type, application, and region
4. Market segments segregated on the basis of type, application, and geography
5. Comprehensive analysis of the historical data and contemporary market scenario to infer industry size, volume, share, growth, and sales
6. Investigation of significant developments in the market dynamics
7. Market segments and regions

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