The Global Advanced and Ultra High Strength Steel Market size is estimated to be USD 29.8 billion in 2019 and projected to grow at a CAGR of 8.6% in terms of revenue through 2028. Rising demand from the automotive, aviation & marine, heavy machinery, and others applications coupled with an increase in per capita income will drive demand for these products.
The North American region is expected to dominate the market during this forecast period due to its developed infrastructure, growing population, and stringent government regulations on manufacturing processes that require higher grade steels for production purposes. Advanced and Ultra High Strength Steel are high-grade steels that have a higher tensile strength than other steel types. These grades of steel can be used for different applications such as automotive, aviation & marine, heavy machinery, etc. Advanced/Ultra High Strength Steels require less energy to produce compared with traditional carbon steels due to the use of electric arc furnaces (EAFs) or basic oxygen furnace (BOFs). This results in improved production cost efficiency.
On the basis of Types, the market is segmented into AHSS (550-780 MPa) and Ultra-High Strength Steel (exceeding 780 MPa).
AHSS (550-780 MPa) steels are used in a wide range of applications. They have found use within the automotive segment, aviation and marine industries due to their high strength properties, where they can withstand higher tensile loads than other types of steel. These types of steel also require less energy to produce compared with traditional carbon steels; this is achieved through EAFs or BOFs which results in improved production cost efficiency.
Ultra-High Strength Steel (exceeding 780 MPa) is the higher strength steel type. The production cost for these types of steels can be quite expensive; however, they require less energy during processing than other forms of carbon steels such as AHSS (550-780 MPa). AHSSs have lower strengths when compared with UHSSs but have the advantage of being economical. AHSSs are suited for applications where the load on steel is relatively low and they can be easily welded and formed as well.
The production cost for these types of steels can be quite expensive, however, they require less energy during processing than other forms of carbon steels such as Advanced High Strength Steels (AHSS). AHSS have lower strengths when compared with UHSS but have the advantage that they are much more economical due to their lower costs per tonne. The market in North America has a bigger share in this segment owing to its developed automotive manufacturing industry infrastructure and increasing demand from countries like China. The Advanced High Strength Steel (AHSS) segment accounted for nearly 34% share of the global AHSS market whereas Ultra-High-Strength Steels (UHSS) contributed about 65%. On the basis of type, UHSS was estimated to account for 43% of total steel production with an annual growth rate exceeding 20%.
On the basis of Application, the market is segmented into Automotive, Aviation & Marine, Heavy Machinery, and Others. In terms of Application, the Automotive sector had the highest share of total steel production globally. Aerospace & Marine contributes a significant portion to the UHSS market owing to stringent safety standards in this sector. The Heavy Machinery Application segment is expected to grow at the fastest pace and witness substantial growth by 2028, due to its increasing demand from infrastructure development activities across various sectors including construction. Others sector includes home appliances, electronic devices and other applications that use AHSS or UHSS elements for their manufacturing process.
On the basis of Region, the market is segmented into North America, Europe, and the Asia Pacific. North America had the biggest share in 2018 owing to the booming automotive industry coupled with strict emission norms mandated as per regional regulations which have led manufacturers towards using advanced grades of steel such as AHSS and UHSS in their manufacturing processes. Latin America is expected to show maximum growth during the forecast period due to its growing infrastructure sector coupled with increased investment by the Government for transportation & power generation projects on account of fluctuating crude prices globally. Europe was the second-largest market in terms of value owing to stringent emission norms across this region mandating the use of more expensive AHSS or UHSS steel elements primarily used for structural purposes than any other application type followed by manufacturing appliances, electronic devices, and others.
Up Market Research published a new report titled “Advanced and Ultra High Strength Steel Market research report which is segmented by Types (AHSS (550-780 MPa), Ultra-High-Strength Steel (exceeding 780 MPa)), By Applications (Automotive, Aviation & Marine, Heavy Machinery, Others), By Players/Companies Arcelor Mittal, POSCO, Baowu, SSAB, United States Steel Corporation, Voestalpine, Ansteel, ThyssenKrupp, Nippon Steel & Sumitomo Metal Corporation, JSW Steel”.
Report Attributes | Report Details |
Report Title | Advanced and Ultra High Strength Steel Market Research Report |
By Type | AHSS (550-780 MPa), Ultra-High-Strength Steel (exceeding 780 MPa) |
By Application | Automotive, Aviation & Marine, Heavy Machinery, Others |
By Companies | Arcelor Mittal, POSCO, Baowu, SSAB, United States Steel Corporation, Voestalpine, Ansteel, ThyssenKrupp, Nippon Steel & Sumitomo Metal Corporation, JSW Steel |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 247 |
Number of Tables & Figures | 173 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type AHSS (550-780 MPa), Ultra-High-Strength Steel (exceeding 780 MPa) and By Application Automotive, Aviation & Marine, Heavy Machinery, Others.
Some of the companies that are profiled in this report are:
Advanced and Ultra High Strength Steel Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Advanced and Ultra High Strength Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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