High Strength Steel Market By Type (High Strength Low Alloy, Dual Phase, Bake Hardenable, Carbon Manganese), By Application (Automotive, Building & Construction, Mechanical & Heavy Equipment; Rail, Aviation & Marine, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, MEA), - Global Trends and Forecasts 2016 to 2026

Date : Jan 2021

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Report ID : 29

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Category : Metals and Mining

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Report Format:  PDF EXCEL PPT WORD

High Strength Steel Market Report Overview:

The High Strength Steel market is projected to grow at a CAGR of 8.1% to reach USD 48.3 billion by 2026 from USD 28 billion in 2019. High Strength Steel is fast emerging as a sustainable affordable, material in the automotive and construction industry. It is increasingly being adopted by builders and construction companies for improving the safety features of buildings and construction projects. Growth of the construction industry in the residential and commercial sector, primarily in the Asia Pacific, in order to meet the demand for housing from a rapidly growing population and has also led to a favorable market for modular construction. Also, new trends in the construction industry such as Lean Construction, Building Information Modelling (BIM), and Green Buildings have increased the role of prefabrication and modularization in construction further driving growth in the demand for high strength steel market.

High Strength Steel Market

The automotive industry is increasingly adopting High Strength Steel for light-weighting, improving the safety of vehicles, improving fuel efficiency, and also as a sustainable alternative to plastics and aluminum. High strength steel is also increasingly being preferred by automotive companies for cost reduction as it is cheaper than carbon fiber and aluminum. New innovations in steel manufacturing like electric arc furnaces have also contributed to the growth of the High Strength Steel market.

The research report analyses the ecosystem of High Strength Steel and categorizes the High Strength Steel Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

By Type

  • High Strength Low Alloy
  • Dual-Phase,
  • Bake Hardenable
  • Carbon Manganese

By Application

  • Automotive
  • Building & Construction
  • Mechanical & Heavy Equipment
  • Rail, Aviation & Marine
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Italy
    • Spain
    • Netherlands
    • Rest Of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Rest Of Asia Pacific
  • South America
  • ROW

Unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Technology landscape
  5. Regulatory scenario
  6. Patent trends
  7. Market trends
  8. Covid-19 impact analysis
  9. Raw material supply analysis
  10. Pricing trends
  11. Sustainability trends and environmental concerns
  12. Critical Success Factors
  13. Competitive Landscape
  14. Customer preferences

In terms of the type of High Strength Steel market, the high strength low alloy segment is estimated to be the largest segment during the forecast period

In terms of product type, the global High Strength Steel market can be segmented into High Strength Low Alloy, Dual Phase, Bake Hardenable, and Carbon Manganese types. The high strength low alloy segment of the High Strength Steel market is projected to be the largest market on account of increasing usage in automotive industries.

The High Strength Low Alloy type of steel is used in cars, trucks, cranes, bridges, roller coasters, and other structures where there is a requirement to handle high levels of stress or need a good strength-to-weight ratio. These types of steels also provide improved mechanical properties and greater protection from atmospheric corrosion and thus also preferred in construction of the offshore structures.

By Application, the automotive application is expected to be the largest segment

The automotive application segment dominated the High Strength Steel market in terms of revenue in 2019. It is also the fastest-growing segment in terms of CAGR trend. The automotive industry is expected to double the usage of high strength steels in the next 15 years. High-strength steel are increasingly being used by automobile manufacturers in manufacturing body panels as it enables them to reduce the weight by over 50% thus resulting in improvement of fuel efficiency.

The Asia Pacific is expected to be the largest segment in the forecast period

The Asia Pacific was the largest segment of the overall High Strength Steel market. While North America is expected to be the second-largest market. The North America region is also projected to witness a higher demand for High Strength Steel in the coming years on account of the increasing adoption of High Strength Steel in various end-user industries. The demand in the Asia Pacific region is primarily driven on account of the presence of steel manufacturing facilities coupled with the demand from end-user industries such as automotive and construction. The construction industry in the Asia Pacific region is also growing on account of rising urbanization, rising disposable income, and government initiatives. Key High Strength Steel markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia.

Snapshot of Drivers, Restraints, Opportunities, and Challenges of High Strength Steel Market:

Drivers:

  • Growing demand from the automotive and construction industries
  • Growing demand for lightweight and high strength materials
  • Cost-effective

Restraints:

  • The increasing cost of raw materials

Opportunities:

  • Demand from emerging economies

Challenges:

  • Evolution of Advanced High Strength Steel and Ultra High Strength Steel Grades

Company Profiles and Competitive Intelligence Covered in High Strength Steel Market Report are:

  1. Bohler-Uddeholm Corp.
  2. ArcelorMittal S.A.
  3. United States Steel Corporation
  4. Voestalpine AG
  5. ThyssenKrupp AG
  6. PAO Severstal
  7. Gerdau S.A.
  8. Hyundai Steel Company
  9. Ansteel Group Corporation
  10. POSCO Co., Ltd
  11. Nucor Corporation
  12. SSAB
  13. AK Steel Holding Corporation
  14. Tata Steel
  15. China Baowu Steel Group
  16. China Steel Corporation
  17. JFE Steel Corporation
  18. JSW Steel
  19. Novolipetsk Steel (NLMK)

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. INTRODUCTION
    1. Product Outline
    2. What is Modular Construction
    3. Different types of Modular Construction
    4. Sector Snapshot : Steel Industry
    5. High Strength Steel comparison with other competing materials
    6. High Strength Steel and its advantages
    7. Analysis of High Strength Steel Ecosystem / Value Chain
    8. Supply Chain Analysis
    9. Covid -19 Impact
    10. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    11. Technology Overview
    12. Patent Analysis
  2. Technology and Regulatory Landscape for Modular Construction
    1. Regulations and Standards
  3. Raw Material Analysis
  4. High Strength Steel Market by Type
    1. High Strength Low Alloy
    2. Dual Phase
    3. Bake Hardenable
    4. Carbon Manganese
  5. High Strength Steel Market by Application
    1. Automotive
    2. Building & Construction
    3. Mechanical & Heavy Equipment
    4. Rail, Aviation & Marine
    5. Others
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Sweden
      8. Netherlands
      9. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  7. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Critical Success Factors
    6. Environmental Impact and sustainability issues
    7. Consumer preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  10. KEY GLOBAL PLAYERS
    1. Bohler-Uddeholm Corp.
    2. ArcelorMittal S.A.
    3. United States Steel Corporation
    4. Voestalpine AG
    5. ThyssenKrupp AG
    6. PAO Severstal
    7. Gerdau S.A.
    8. Hyundai Steel Company
    9. Ansteel Group Corporation
    10. POSCO Co., Ltd
    11. Nucor Corporation
    12. SSAB
    13. AK Steel Holding Corporation
    14. Tata Steel
    15. China Baowu Steel Group
    16. China Steel Corporation
    17. JFE Steel Corporation
    18. JSW Steel
    19. Novolipetsk Steel (NLMK)
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