Global High Strength Steel Market Will Hit At CAGR Of 8% During Years 2017-2021
About High
Strength Steel Market
This industry research report
identifies ArcelorMittal, POSCO, Shanghai Baosteel Group (Baosteel),
Tata Steel, and United States Steel as the key vendors in the global
high strength steel market. This industry research report also
presents a competitive analysis of the market by end-use industry
(automotive, aviation and marine, construction, and others) and by
geography (the Americas, APAC, and EMEA).
Overview of the global high
strength steel market
Market research analysts at
Technavio predict that the global high strength steel market will
grow steadily at a CAGR of more than 8% by 2021. This market research
analysis identifies the increasing demand for high quality automobile
components as one of the primary growth factors for this market.
Owing to the performance of high strength steels in comparison to low
and mild-strength steels, automotive manufacturers mainly prefer high
strength steel over mild strength steel for manufacturing vehicle
components that find applications including door beams, chassis,
bumpers, and cross-members and seating. With the increasing growth of
the automotive industry, this demand for manufacturing high-quality
components will significantly fuel the growth of the high strength
steel market.
One of the major trends that will
gain traction in the high strength steel market in the coming years
is the increased use of advanced high strength steel (AHSS). Owing to
the benefits including high strain hardening ability, superior
combination of ductility and strength, and increased work-hardening
rates, there is an increased demand for AHSS from the automotive
industry. The focus of the players in the automotive industry to
develop lightweight and eco-friendly products will further increase
the demand for AHSS to meet the performance demands.
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Competitive landscape and key
vendors
The high strength steel market is
characterized by the presence of a considerable number of vendors and
is competitive. The growth of the of the vendors in this marketspace
mainly depends on factors such as fluctuations in the cost of capital
and increased productivity. To manufacture high-quality high strength
steel, vendors in the market are constantly on the lookout for
innovative techniques. To gain a competitive edge over their
competitors, major steel vendors such as ArcelorMittal focus on
offering value-added solutions such as anti-graffiti and
anti-corrosion coatings in high strength steel.
The leading vendors in the
market are -
ArcelorMittal
POSCO
Shanghai Baosteel Group (Baosteel)
Tata Steel
United States Steel
The other prominent vendors in the
market are CITIC, Gerdau, Hyundai Steel Company, JFE Steel
Corporation, JSW Steel, Nucor, and SSAB.
Segmentation by end-use
industry and analysis of the high strength steel market
Automotive
Aviation and marine
Construction
During 2016, the automotive
industry was the major end-user to the high strength steel market.
High strength is used for manufacturing several automotive components
including bumpers, chassis, wheel systems, seat cross membranes,
roofs, and crash sectors. The need for automotive manufacturers to
meet the growing demand for consumer safety and fuel efficiency will
be a major factor driving the demand for high strength steel in this
segment.
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Geographical segmentation and
analysis of the high strength steel market
Americas
APAC
EMEA
This market study estimates that
in terms of geographic regions, APAC will be the major revenue
contributor to the high strength steel market throughout the forecast
period. Rapid industrialization and infrastructural development in
APAC and the demand for high strength steel from countries such as
India, China, and Taiwan for manufacturing automobile components,
will be the major factors fueling market growth.
Key questions answered in the
report include
What will the market size and the
growth rate be in 2021?
What are the key factors driving
the global high strength steel market?
What are the key market trends
impacting the growth of the global high strength steel market?
What are the challenges to market
growth?
Who are the key vendors in the
global high strength steel market?
What are the market opportunities
and threats faced by the vendors in the global high strength steel
market?
Trending factors influencing the
market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the
five forces analysis of the global high strength steel market?
Technavio also offers
customization on reports based on specific client requirement.
High strength steel is a variant
of steel that holds advantageous properties such as enhanced
corrosion resistance and mechanical properties. The scope of high
strength steel encompasses conventional steel, advanced high strength
steel, and ultra-high strength steel. This upcoming report by
Technavio is a fundamental part of the chemicals and materials
industry and offers a detailed study of rapidly growing sectors like
metals and minerals, specialty chemicals and additives, adhesives,
and sealants.
To accurately forecast the
chemicals and materials industrys growth prospects, our market
research specialists follow a structured approach comprised of
primary and secondary data collection methods and also carry out
detailed analysis based on several market facets, including
advancements in technology and the demand for products and services
across the globe. This upcoming report on the high strength steel
market also considers the growth of related markets like iron
castings market and metal oxide nanoparticles market, which are
expected to grow at a CAGR of around 7% and nearly 10%, respectively
by 2021. As per our market research analysts, there is an increase in
the demand for the application of high-strength steel in the
automobile industry, especially for the HSLA steels segment. This, in
turn, is expected to significantly contribute to the growth of this
market over the next few years.
The upcoming industry research
report on the high strength steel market also highlights the key
drivers, prospective trends, and the imminent challenges currently
experienced by the chemicals and materials industry and also presents
a holistic overview into the markets of paints, coatings, and
pigments and olefins.
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
Key market highlights
Overview
PART 05: Market landscape
Overview: Global high strength
steel market
Market size and forecast
Five forces analysis
PART 06: Market segmentation by
end-use industry
Overview: Global high strength
steel market by end-use industry
Global high strength steel market
for automobile industry
Global high strength steel market
for construction industry
Global high strength steel market
for aviation and marine industry
Global high strength steel market
for others
PART 07: Geographical segmentation
Overview: Global high strength
steel market by geography
High strength steel market in APAC
High strength steel market in EMEA
High strength steel market in
Americas
PART 08: Decision framework
PART 09: Drivers and challenges
Market drivers
Impact of drivers on key
geographies
Market challenges
Impact of challenges on key
geographies
PART 10: Market trends
Increased use of AHSS
TMCP technique for high strength
steel
Hot stamping for high strength
steel
PART 11: Vendor landscape
Competitive scenario
Other prominent vendors
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