High Strength Steel Market Report

The global high-strength steel market is forecast to tremendously gain from the aggressive rate of urbanization, infrastructure development, and industrialization witnessed in different parts of the world. Rise of the construction industry and increasing focus on reconstruction and refurbishment activities are foreseen to augur well for the global market. Strong government-backed investments in the steel industry could be another factor effectively propelling the growth of the global market. Manufacturers are foretold to improve their products for use in new applications. Apart from increasing their technical capabilities, they are expected to invest in research and development and build a stronger distribution network in the coming years. This could help them to improve their market presence and achieve a wider reach in the global market.

According to QYR Consulting, the global high-strength steel market is predicted to reach a value of US$xx Mn by 2025 while growing at an xx% CAGR during the forecast period 2019-2025. In 2018, the global market achieved a value of US$xx Mn. The report offers near-accurate growth outlook of the global market.

Market Dynamics

Increasing demand for high-strength steel in the lucrative automotive industry is anticipated to give birth to strong sales opportunities for manufacturers. High-strength steel finds increased application in the manufacture of body panels for vehicles because of its ability to provide excellent impact toughness and reduce overall weight of vehicles. Increasing population in emerging regions could raise more demand for automobiles, which is in turn expected to push the need for high-strength steel. Besides automotive, high-strength steel is largely used in other industries such as construction, aviation, and marine. Development of new grades of ultra-high-strength steel and advanced high-strength steel is prophesied to attract more end users in future.

Market Segments

The global high-strength steel market is segmented into AHSS and conventional HSS by type of product. It is also segmented into aviation and marine, hoisting and mining equipment, automotive, and others by application.

Regions

Key Players

The report includes deep company profiling of top companies such as ArcelorMittal, Baowu, National Material LP, Leeco Steel, POSCO, ThyssenKrupp AG, U.S. Steel Corporation, Voestalpine AG, Olympic Steel, and SSAB.

The chemicals and materials sector has been witnessing an exponential rise in the past few years. The industrial boom and infrastructural growth across the globe has had a positive impact on the chemical and materials industry. Chemicals are an integral part of many industries, which, over the years, have created lucrative opportunities for players. Similarly, materials are an indispensable part of myriad industries. The rise of the chemicals and materials sector has been mapped by QYR Consulting through exhaustive research reports.

Analysts have used investigative approach to deduce important elements pertinent to the industry. The reports are aimed towards giving the reader a holistic approach about the industry’s development and future scenario. Competitive landscapes have been written with in-depth analysis of the historical data and careful understanding of the management styles. QYR Consulting aims to provide the readers a guided approach towards making well-informed business decisions through its research reports.