Advanced and Ultra-High-Strength Steel Market 2019
The Advanced and Ultra-High-Strength Steels are well-known sophisticated materials, which contain multiphase chemical composition and microstructures resulting from highly controlled heating and cooling methods. Talking more about it, the yield strength of such steel is around 550 MPa, and the tensile strength is more than 780 MPa. They offer a superior level of strength. As they are optimized properly, it provides design freedom and weight reduction for different types of structural reinforcements. Recently, a massive increase is witnessed in funding and research to develop third-generation ultra-high-strength steel.
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Key Players Segmentation
Nippon Steel & Sumitomo Metal
The demand for such steel is expected to increase rapidly in the coming years, and the global market will increase at the highest CAGR. Rapid growth in industrialization is a prominent driving factor. Besides, the growth of global transport industry and rapid technological advancements in production sectors are also expected to drive the market toward decent growth during the forecast period. It has been observed that the infrastructural investment is growing, which has supplemented that global Advanced and Ultra-High-Strength Steel market.
It is expected that the global market, during the forecast period, will grow at around 8 percent of the Compound Annual Growth Rate. The demand for lightweight vehicles, passenger cars, electric vehicles has gone up. On the other side, automakers in the different regions are now suing such steel for exterior as well as interior components. The production of motor vehicles is increasing, which, in turn, affecting the global ultra-high-strength steel market positively. However, higher production cost and technological constraints can affect the growth of the market in the future.
Global Market Segmentation Analysis
The worldwide market for Advanced and Ultra-High-Strength Steel is segmented by steel types, applications, and regions. On the basis of type, it is split into complex-phase (CP), ferritic-bainitic (FB), dual-phase (DP), complex phase (CP), martensitic (MS), hot-formed (HF), twinning-induced plasticity (TWIP), Cor-Ten weathering steels, and transformation -induced plasticity (TRIP). As per the report, the Cor-ten steel segment is expected to dominate this particular segment in the coming years owing to its growing usage in heavy construction. Based on applications, it is divided into heavy machinery, aerospace, automotive, construction, and others. The dominating segment from these is the automotive segment.
Geographical Market Segmentation Analysis
The Advanced and Ultra-High-Strength Steel market, considering the geography, is segmented into Europe, Asia Pacific, the Middle East, and Africa, North America, and South America. However, the report also consists of various country-level market analysis. Those countries are the United Kingdom, Russia, Canada, France, Italy, the United Kingdom, Germany, China, Korea, India, Japan, Brazil, Saudi Arabia, South Africa, Argentina, and more. The new statistical data shows that North America’s regional market will dominate the global market with a maximum market share in terms of revenue. The United States is the key market for this product. But the growth rate will be little slower than the Asia Pacific market growth rate.
In June 2018, the world’s fourth-largest steel-production company, POSCO, joined with TSE- Tata Steel Europe through an agreement to trade POSCO’s PVD technology with the corrosion-resistant MagiZinc products. With this the range of high-strength steel products in construction and automotive industries will be increased. Besides, the company has also expanded its business with this agreement.
Table of Contents – Major Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Advanced and Ultra-High-Strength Steel Sales, Revenue, Market Share and Competition by Manufacturer (2016-2017)
4 Global Advanced and Ultra-High-Strength Steel Market Analysis by Regions
5 North America Advanced and Ultra-High-Strength Steel by Countries
6 Europe Advanced and Ultra-High-Strength Steel by Countries
7 Asia-Pacific Advanced and Ultra-High-Strength Steel by Countries
8 South America Advanced and Ultra-High-Strength Steel by Countries
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