Zion Market Research has published a new report titled “High Strength Steel Market by Type (Carbon Manganese, High Strength Low Alloy, Bake Hardenable, and Dual Phase Steel) and End-Use Industry (Automotive, Construction, Aviation & Marine, Yellow Goods & Mining Equipment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global high strength steel market was valued at USD 27.10 billion in 2018 and is expected to reach USD 47.97 billion by 2025, at a CAGR of 8.5% between 2019 and 2025.

High strength steel is used in several end-use industries to produce lightweight parts and components. High strength steel enhances the mechanical property of a material. Due to its high strength, versatility, and formability, it is widely used in the construction of rails, roads, and transportation of vehicles.

Browse through 71 Tables & 24 Figures spread over 110 Pages and in-depth TOC on “Global High Strength Steel Market: Industry Size, Share, Segments, Analysis and Forecast, 2018–2025”.

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The global high strength steel market is expected to grow considerably in the next few years, owing to the rising demand for high strength steel across various industries, such as construction and automotive. Moreover, the rapidly growing demand for infrastructure and the flourishing manufacturing industries are projected to further propel the global high strength steel market in the future. However, the high cost for production of high strength steel may hinder the market in the years ahead. Alternatively, the increasing investments and government support are anticipated to offer lucrative opportunities in the high strength steel market in the future.

The global high strength steel market is classified based on the type and end-user industry. The type segment includes carbon manganese, high strength low alloy, bake hardenable, and dual phase steel. The high strength low alloy segment held a significant share, i.e., around 37%, of the global high strength steel market in 2018, owing to its wide application across myriad sectors, such as structural engineering due to its excellent corrosion resistance properties. Additionally, the increasing application of high strength low alloy steel by the automotive industry has further propelled the demand for high strength low alloy. Based on end-use industry, the global high strength steel market includes automotive, construction, aviation and marine, yellow goods and mining equipment, and others. In 2018, the automotive segment dominated the global market and is anticipated to continue its dominance in the upcoming years as well. The surging application of high strength steel in the automotive industry is expected to boost the high strength steel market.

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By region, Asia Pacific contributed the largest share in the global high strength steel market in 2018 and is projected to lead in the future as well. The rapidly rising regional population will boost the construction industry, which, in turn, is likely to propel the high strength steel market. The surging construction activities in emerging economies, such as China and India, are likely to further boost the application of high strength steel. The rapid growth of the automotive sector of Japan, China, South Korea, and India is expected to increase the use of high strength steel in various applications.

North America is the second largest regional market for high strength steel, due to the rising demand for high strength steels in various end-use industries. Moreover, in 2017, the U.S. contributed the largest share to the global high strength steel market, due to its flourishing aerospace and marine sectors, as high strength steel is widely used to produce lightweight components. Additionally, the growing application of high strength steel in the automotive industry is further projected to propel high strength steel market in the future.

Browse the full “High Strength Steel Market by Type (Carbon Manganese, High Strength Low Alloy, Bake Hardenable, and Dual Phase Steel) and End-Use Industry (Automotive, Construction, Aviation & Marine, Yellow Goods & Mining Equipment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/high-strength-steel-market

The European high strength steel market is anticipated to witness significant growth over the forecast time period, subject to the emerging automotive industry along with the increased product use for producing automotive parts and components. Moreover, the implementation of limiting vehicular emissions in Europe, such as Euro 5 and Euro 6, is projected to further fuel the high strength steel market in the years ahead, as high strength steels help in reducing the automobiles’ weight and minimizing vehicular emissions.

Latin America is estimated to grow gradually in the global high strength steel market, owing to the region’s emerging automotive industry and the increasing demand for mining equipment. Furthermore, the Middle Eastern and African market is predicted to grow substantially over the forecast time period, due to the region’s thriving construction industry.

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Some key manufacturers of global high strength steel market are United States Steel Corporation, Wuhan Iron and Steel Corporation, Shandong Iron and Steel Group, Tata Steels Limited, China Steel Corporation, JFE Steel Corporation, Novolipetsk Steel, Metinvest Holding LLC, HebeiPuyong Steel Group, Baosteel Group Corporation, and JSW Steel.

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This report segments the global high strength steel market into:

Global High Strength Steel Market: Type Analysis

• Carbon Manganese
• High Strength Low Alloy
• Bake Hardenable
• Dual Phase Steel

Global High Strength Steel Market: End-Use Industry Analysis

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

Global High Strength Steel Market: Regional Analysis

North America

• The U.S.

Europe

• UK
• France
• Germany

Asia Pacific

• China
• Japan
• India

Latin America

• Brazil

The Middle East and Africa

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