Asia Pacific region is expected to be the largest market for high strength steels between to 2023

The report “High Strength Steel Market by Type (High Strength Low Alloy, Dual Phase, Bake Hardenable, Carbon Manganese), End-Use Industry (Automotive, Yellow Goods & Mining Equipment, Construction, Aviation & Marine), and Region – Global Forecast to 2023″.

The high strength steel market is projected to grow from USD 27.32 billion in 2018 to USD 40.85 billion by 2023, at a CAGR of 8.4% from 2018 to 2023. Increasing consumption of high strength steels in the automotive and construction industries to improve the fuel efficiency of automobiles and ensure high strength and improved safety features of buildings is driving the growth of the high strength steel market across the globe.

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The objectives of this study are:

  • To define, describe, and forecast the high strength steel market based on type, end-use industry, and region
  • To estimate, analyze, and forecast the high strength steel market with respect to the key countries of five major regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America
  • To identify the market dynamics such as drivers, restraints, opportunities, and challenges impacting the growth of the high strength steel market
  • To analyze and forecast the demand for high strength steels, in terms of value and volume across the globe
  • To strategically identify and profile the key players operating in the high strength steel market

Years considered for the study are:

  • Base Year – 2017
  • Estimated Year – 2018
  • Projected Year –2023
  • Forecast Period – 2018 to 2023

For company profiles, 2017 was considered the base year. In cases, wherein information was unavailable for the base year, the years prior to it were considered.

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Research Methodology

This study aims to estimate the size of the high strength steel market for 2018 and projects its demand till 2023. It also provides a detailed qualitative and quantitative analysis of the high strength steel market. Various secondary sources such as directories, industry journals, various associations, and databases (which include Hoovers, Bloomberg, Chemical Weekly, Factiva, government and private websites, and metal associations), were used to identify and collect information useful for this extensive commercial study on the high strength steel market.

Primary sources such as experts from related industries and suppliers were interviewed to obtain and verify the critical information as well as assess growth prospects of the high strength steel market. The breakdown of profiles of primaries is shown in the figure below:

The ecosystem of the high strength steel market includes manufacturers of high strength steels and its products such as Voestalpine AG (Austria), POSCO Group (South Korea), ArcelorMittal S.A. (Luxembourg), SSAB AB (Sweden), Nippon Steel & Sumitomo Metal Corporation (Japan), Tata Steel (India), Steel Authority of India Limited (India), United States Steel Corporation (US), Baosteel Group Corporation (China), Severstal JSC (Russia), ThyssenKrupp AG (Germany), JFE Steel Corporation (Japan), Nucor Corporation (US), and JSW Steel (India), among others.

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Scope of the Report: This research report categorizes the high strength steel market based on type, end-use industry, and region. The report forecasts revenues as well as analyzes the trends in each of these submarkets.

High Strength Steel Market, by Type:

  • High Strength Low Alloy (HSLA)
  • Dual Phase (DP)
  • Bake Hardenable (BH)
  • Carbon Manganese (CMn)
  • Others

High Strength Steel Market, by End-use Industry:

  • Automotive
  • Construction
  • Yellow Goods & Mining Equipment
  • Aviation & Marine
  • Others

High Strength Steel Market, by Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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