The Global High Strength Steel Market Size is estimated to expand rapidly in coming years, at a CAGR of 9.6% from 2018 to 2025. In 2017, the global market valuation was USD 26,540 Million, and it is anticipated to be greater than USD xx.xx Million by 2025. High Strength Steels are developed in order to offer the mechanical properties and higher corrosion resistance in relation to traditional carbon steel grades. The high strength steels are primarily produced as sheets and plates with low carbon content, while manganese content is up to 2.0%. The sheets and plates are attributed by uniform surface and homogeneous microstructure across the entire cross section. The properties of the high strength steels offer various applications, from specific zones of vehicles body to highly loaded pillars. Some of specific applications are: mobile cranes, utility vehicles, railcars, concrete pumps, containers, forestry machinery. Replacing conventional structural steels by high strength steels results in unchanged load capacities with reduction in thickness of material. Major reductions of thickness can be archived even under toughest load conditions.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global high strength steels market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global high strength steels market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.   

Market Dynamics

High Strength Steel Market was valued USD 26,540 million in the year 2017, at growing at rate of 7.8% during the forecast period. Rising consumption of high strength steels in the automotive and construction industries to enhance the fuel efficiency of automobiles and ensure high strength and improved safety characteristics of buildings are some of the factors propelling the growth of the high strength steel market. However, a high production cost of high strength steels due to increased prices of raw materials is one of the significant factors anticipated to hamper the growth of market. On the contrary, increased consumption of high strength steels in developing economies is anticipated offer lucrative growth opportunities during the forecast period.

Segment Analysis                                                                                                 

On the basis of type, the market is bifurcated into high strength low alloy, dual phase, bake hardenable, and carbon manganese. The high strength low alloy segment of the high strength steel market is anticipated to grow at the considerable CAGR during the projected period. High strength low alloy steels are low carbon steels, with 10% of alloying elements. These low levels of alloying elements enables easy tempering and quenching of high strength low alloy steels so that high levels of impact toughness and strength can be obtained. High strength low alloy steels are widely utilized in the automotive industry. The growing automotive industry across the world due to increasing population is anticipated to propel the growth of the high strength low alloy type segment of the high strength steel market during the analysis period.

Regional Analysis

On the basis of region the market is classified into North America, Europe, Asia-Pacific (APAC), and LAMEA.  The Asia Pacific region is the one of the dominant consumer of high strength steels across the globe. The Asia Pacific high strength steel market is also projected to grow at the considerable rate during the analysis period. The growth of the market in Asia-Pacific region can be due to the increased demand for high strength steels from developing countries such as China and India. Moreover, technological advancements in the automotive and construction industries of countries such as China, Japan, and South Korea among others have also resulted in an increased in the consumption of high strength steels in these countries.

Global High Strength Steel Market Size, Share Analysis, By Region 2017

Global High Strength Steel Market Study Objective

1. To forecast the market size of high strength steels market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of high strength steels market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of high strength steels market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of high strength steels market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the high strength steels market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of high strength steels market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of high strength steels market commercially.

Key Players

Key players of  global high strength steel market are Arcelormittal S.A, United States Steel Corporation, Baosteel Group Corporation, SSAB AB, Voestalpine AG, Posco Group, Nippon Steel & Sumitomo Metal Corporation, Steel Authority of India Limited, Tata Steel, and Angang Steel Company Limited. The other players in the value chain include Hebei Puyong Iron and Steel Group Co., Ltd., Jiangsu Shagang International Trade Co., Ltd., JFE Steel Corporation, Nucor Corporation, China Steel Corporation, Thyssenkrupp Ag, Metinvest Holding, LLC, PAO Severstal, JSW Steel, Gerdau S.A. Hyundai Steel Company, and Shandong Iron and Steel Group.

Global High Strength Steel Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.