Global Advanced High-Strength Steel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global advanced high-strength steel market in its upcoming report titled, “Global Advanced High-Strength Steel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global advanced high-strength steel market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. 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 advanced high-strength steel market report has been segmented on the basis of component, application, and region.

Advanced high-strength steel is more complex than conventional steel, since its microstructures are usually multiphase to provide an improved combination of strength and ductility. AHSS often has other advantageous mechanical properties such as high strain-hardening capacity. They usually have a yield strength of 210 to 550 MPa.

Increasing adoption of lightweight components in automobiles, rising awareness towards decreasing greenhouse gas and CO2 emission levels, and rapid growth in automotive industry is expected to drive the global advanced high-strength steel market. Physical attributes such as ductile, highly formable, and easy to weld also contribute towards the growth of high strength low alloy as the most preferred type for high strength steels.

However, factors such as high production cost of high strength steels products, and involvement of various safety and technological constraints are expected to restrict the market growth for high strength steels. Nonetheless, the fast growing aerospace industry and accelerating urbanization and industrialization in developing economies are factors projected to create lucrative business opportunities for major vendors in the global market over the next 10 years.

North America market accounts for highest revenue share in the global advanced high-strength steel market. Increasing adoption of lightweight materials in automotive industry and development of new products are major factors driving growth of the market in North America. For instance: Nucon Corp. is developing third-generation AHSS, which is expected to be stronger and is used in lesser quantity, thereby saving maximum weight. The market in Europe is expected to witness considerable growth over the forecast period. The advanced high-strength steel market in Asia Pacific is expected to witness highest growth and is projected to register a CAGR of XX.X% over the forecast period. This growth can be attributed to rapid industrialization and infrastructural developments which offer lucrative growth opportunities to the market in this region.

Global Advanced High-Strength Steel Market Segmentation:

Segmentation on the basis of grade:

• Dual Phase (DP)
• Complex phase (CP)
• Transformation-induced plasticity (TRIP)
• Twinning-induced plasticity (TWIP)
• Others (Ferritic-bainitic, Hot-formed, and Martensitic)

Segmentation on the basis of end user:

• Automotive
• Aerospace & Defense
• Construction

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa