The global high strength steel market is expected to grow with a CAGR of 8.3% in the forecast period of 2019 to 2026. The new market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
By Grade (High Strength Low alloy, Dual Phase, Transformation Inducted Plasticity, Bake hardenable, Rephosphorised steel and Interstitial Free) , Product Type (Cold Rolled, Hot Rolled, Metallic Coated and Direct Rolled), 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)
Major growing sectors under the market segmentation are as follows;
In grade type, the High Strength Low alloy dominates the market and holds the majority of share in the market as it has low carbon content and improved toughness and enhances the corrosion resistance of the final products. However, the dual phase is expected to grow with the highest CAGR owing to its low yield to strength ratio which propels its demand in automotive, construction, heavy machinery and other end-use industry.
In product type, the Cold rolled high strength steel dominate the market and holds the major share in the market owing to their easy handling, excellent dimensional accuracy and good finish of the final product.
In the end use industry, the automotive is dominating in the market as high demand for high strength steel in lightweight application. Rising production of high-end cars and lightweight vehicles is anticipated to strengthen the consumption of high strength steel in the coming years.
Key Market Players
The key market players for global high steel strength market are listed below;
Nippon Steel & Sumitomo Metal Corporation
AK Steel Corporation
Angang Steel Company Limited
Shanghai Baosteel Chemical Co., Ltd. (A Subsidiary Of Baosteel Co., Ltd)
Shandong Iron And Steel Group Co., Ltd.
BENXI STEEL GROUP
JFE Steel Corporation
United States Steel
JSW Steel Limited
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