High Strength Steel Market

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High Strength Steel Market to grow at a CAGR of
8.4 by 2023
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• 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.Browse
  113 market data Tables and 53 Figures spread
  through 177 Pages and in-depth TOC on "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"

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• Among types, the high strength low alloy segment
  is projected to lead the high strength steel
  market during the forecast period.
• The high strength low alloy type segment is
  expected to lead the high strength steel market
  in 2018. The growth of this segment of the market
  can be attributed to the increased demand for
  high strength low alloy steels from the
  automotive industry. High strength low alloy
  steels are the most widely used steels in various
  end-use industries as they offer superior
  mechanical properties such as high corrosion
  resistance, increased formability, and excellent
  weldability, among others.
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  igh-strength-steel-market-4627428.html
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The automotive end-use industry segment is
expected to lead the high strength steel market
between 2018 and 2023. Among end-use industries,
the automotive segment is expected to lead the
high strength steel market in 2018. The growth of
the automotive end-use industry segment of the
high strength steel market can be attributed to
the increased demand for high strength steels
from the automotive industry. It is expected that
the amount of high strength steels used in the
production of automobiles will be more than
double in the next 15 years. The increase in the
global automobile production is a major factor
leading to the growth of the automotive end-use
industry segment of the high strength steel
market across the globe. The use of high strength
steels for manufacturing body panels of
automobiles results in an increase in their fuel
efficiency by reducing their weight by
approximately 60. This, in turn, contributes to
the growing demand for high strength steels from
the automotive industry. The increasing demand
for electric and hybrid vehicles across the globe
is also expected to contribute towards the growth
of the high strength steel market during the
forecast period.
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The Asia Pacific region is projected to be the
largest market for high strength steels between
2018 and 2023. The Asia Pacific region is the
largest consumer of high strength steels across
the globe, and this trend is projected to
continue during the forecast period as well. The
growth of the Asia Pacific high strength steel
market can be attributed to the economic growth
of emerging economies such as China, India, and
Taiwan, among others. Increasing production of
the manufacturing sector of the Asia Pacific
region to cater to the domestic requirements for
superior quality products and rising exports from
the region are factors leading to an increased
demand for high strength steels from the
region. The key players operating in the high
strength steel market include 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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• Request sample copy of the report _at_
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  .asp?id4627428
• Key Target Audience
• Manufacturers, Dealers, and Suppliers of High
  Strength Steels
• Government Bodies
• Companies Engaged in RD Activities Related to
  Different Materials
• Application Industries
• Feedstock Suppliers
• Industrial Associations
• Large Infrastructure Companies
• Investment Banks
• Consulting Companies/Consultants in Chemical and
  Material Sectors

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