High Strength Steel Market Structure, Industry Inspection, and Forecast 2027
Global High Strength Steel Market 2020,
By Grade (High Strength Lowalloy, Dual Phase, Transformation Inducted Plasticity, Bake hardenable,Rephosphorised steel and Interstitial Free),
Product Type
(Cold Rolled, Hot Rolled, Metallic Coated and DirectRolled), 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
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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 tostrengthening mechanisms that were employed on the steel to achieve betterstrength, toughness, fatigue and ductility. High strength steel is usedin a wide variety of applications, most prominent are automotive, heavymachinery manufacturing, energy and power, ship building, aerospace, packagingand consumer goods. Most commonly high strength steel is produced with the coldrolled process followed by hot rolled, metallic rolled and direct rolled. Highstrength steel also reduce production cost, provide environmental & financialadvantages in various application of automotive and construction sectors suchas structural designing of auto parts, lifting equipment, materials handling,trailers and others.
Global high strength steel market is projected toregister a healthy CAGR of 8.26% in the forecast period of 2019 to 2026.
Segmentation: Global High Strength Steel Market
Global high strength steel market is segmented into threenotable segments which are grade type, product type and end users.
· Onthe basis of grade type, the market is segmented into high strength low alloy,dual phase, transformation inducted plasticity, bake hardenable, rephosphorisedsteel, interstitial free and others. Dual phase high strength steel segment isgrowing at the highest CAGR of in the forecast period of 2019 to 2026.
o InNovember 2018, Tata Steel expanded their steel production in MTPA Phase-IIexpansion of its Kalinganagar plant. The capacity of the plant is around 8million tons per annum (MTPA). This addition in the capacity of the plant willenhance the steel production of the company.
· Onthe basis of product type, the market is segmented into cold rolled, hotrolled, metallic coated and direct rolled. Cold rolled high strength steelsegment is the largest and growing at the highest CAGR of in the forecastperiod of 2019 to 2026.
o InJune 2018, POSCO announced the engagement with the Tata Steel Europe (TSE)(U.K.), to exchange the high corrosion-resistant MagiZinc products. Thisagreement will provide PSCO a new technology namely, PVD technology whichincludes TSE’s steel.
· Onthe basis of end users, the market is segmented into automotive, construction,heavy machinery, ship building, aerospace, energy & power, packaging,consumer goods and others. Construction end use segment is growing at thehighest CAGR of in the forecast period of 2019 to 2026.
o InNovember 2018. United States Steel Corporation announced the ratification ofnew successor four-year collective bargaining agreements by the UnitedSteelworkers (USW). These agreements will cover approximately 14,000 USW-employees of mining facility and of tubular operation in Fairfield, Ala.,Lorain, Ohio, and Lone Star, Texas.
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Competitive Analysis: Global High Strength Steel Market
Some of the major players operating in this market arePOSCO, Arcelormittal S.A., Nippon Steel & Sumitomo Metal Corporation, TataSteel, NUCOR, HBIS Group, HYUNDAI STEEL, AK Steel Corporation, Voestalpine AG,SSAB AG, Angang Steel Company Limited, Shanghai Baosteel Chemical Co., Ltd. (ASubsidiary Of Baosteel Co., Ltd), Shougang.Com, Thyssenkrupp AG, Shandong IronAnd Steel Group Co., Ltd., BENXI STEEL GROUP, JFE Steel Corporation, UnitedStates Steel, SAIL, JSW Steel Limited and other.
Product Launch:
· InNovember, 2018, SSAB AB announced the launch of Strenx 1100 Plus strip steelwhich is a hot-rolled, high-strength steel that possesses unique weldproperties and delivers outstanding welding and bending performance. Thisproduct launch will help in the manufacturing and production of automotivecomponents in China.
· InAugust 2018, AK Steel Corporation announced the launch of NEXMET, an innovativerange of high strength steel, which is applicable for lightweight components inthe automotive industry. These products are designed for the manufacturing ofautomotive original equipment.
ResearchMethodology: Global High Strength Steel Market
Primary Respondents: key industryparticipants, subject-matter experts (SMEs), C-level executives of key marketplayers, and industry consultants.
