Advanced and Ultra-High-Strength Steel Market : Industry Sales Expected to Grow Worldwide
Advanced and Ultra-High-Strength Steel Market
Outlook 2019-2026:
Global Advanced
and Ultra-High-Strength Steel Market key players are Anshan Iron and
Steel Group Corporation, ArcelorMittal S.A, China Baowu Steel Group Corp.,
Ltd., JFE Steel Corporation, Kobe Steel, Ltd., Nippon Steel & Sumitomo
Metal Corporation, Shougang Group, Tata Steel Limited, ThyssenKrupp AG and
Voestalpine Stahl GmbH is also provided in the report.
Advanced and ultra-high-strength steel are
complex sophisticated materials containing multiphase microstructures and
chemical compositions resulting from precisely controlled cooling and heating
processes. This steel has 550 MPa yield strength and >780 MPa tensile
strength. They offer high strength and optimized formability, which allows
weight reduction and design freedom for various types of crash components and
structural reinforcements. Recently, an increase is witnessed in funding &
research for development of third generation advanced ultra-high-strength steel
to offer enhanced strength-ductility combinations and showcase the potential
for efficient joining capabilities at lower costs.
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Growth in transport industry and technological
advancements in products & production procedures are major factors that
drive the growth of advanced and ultra-high-strength steel market. Increase in
industrialization and growth in infrastructure investment are other factors,
which supplement market growth. Asia-Pacific is expected to register
substantial growth owing to, massive urbanization in emerging economies such as
China & India and growth in income of people in urban areas. Fluctuation in
raw material prices and competition from substitutes such as carbon fibre reinforced
plastic (CFRP) restrain the market growth. However, introduction of third
generation advanced high strength steel and rapid growth in applications in
various end-user industries such as automotive are factors expected to provide
potential growth opportunities for the industry.
The report segments the advanced and ultra
high-strength steel market on the basis of product type, production procedure,
application, and geography. Based on product type, it is divided into dual
phase (DP), complex-phase (CP), ferritic-bainitic (FB), martensitic (ms or
mart), transformation-induced plasticity (TRIP), hot-formed (HF), and
twinning-induced plasticity (TWIP). On the basis of production procedure, the
market is bifurcated into hot rolled and cold rolled. On the basis of
application, it is classified into automotive, aerospace, construction, heavy
machinery, and others (power generation and shipbuilding). Automotive is
further divided into automotive body-in-white, precision tubes, engine
sub-frames, wheels, crash boxes, roofbows, door & sill reinforcements,
chassis & suspension components, and others (support components, upper
& lower control arms and twist beam rear axles). By geography, it is
analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In November 2016, ArcelorMittal S.A. launched
two new martensitic steels MartINsite M2000 & M1700 and press hardenable
steels Ductibor 1000 & Usibor 2000. The steels were launched to assist
automotive manufacturers in reducing their vehicle weight without compromising
on performance or safety.
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Key Benefits
- This report provides a quantitative analysis of the
current trends and estimations from 2017 to 2023 of the global advanced
and ultra-high-strength steel market to identify the prevailing market
opportunities.
- Major countries in each region are mapped according to
individual market revenue.
- Comprehensive analysis of factors that drive and
restrict the market growth is provided.
- An in-depth analysis of current research & clinical
developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent
years are listed.
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