Pune, India -- (SBWire) -- 12/18/2019 --A new report published by Infinium Global Research on "Advanced High Strength Steel Market (Grade - Dual-phase, Transformation-induced Plasticity, Complex Phase, and Other Grades; End-user - Construction, Automotive, Aviation & Marine, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." Referred to the new generation of steel advanced high strength steel provides high strength up to 2,000 MPa. They have excellence in a combination of strength and ductility which makes them formable. The global advanced high strength steel market is projected to grow at a CAGR of 8.3% over the forecast period of 2019-2025.
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Growth in Adoption to Lightweight Automotive Enhances Growth for Advanced High Strength Steel Market
Rise in consumption from construction and automotive industries for high strength steel, growth in urbanization and industrialization boost the growth of the global advanced high strength steel market. Furthermore, the rising adoption of lightweight components in automotive and increasing concerns about the CO2 emission enhances growth for the advanced high strength steel market. Moreover, the growing usage of high strength steel in emerging countries generates opportunities for the advanced high strength steel market.
North America Holds Dominance in the Global Advance High Strength Steel Market
Geographically, North America is anticipated to hold the largest share in the global advanced high strength steel market owing to the growing demand for lightweight vehicles and increasing fuel costs and standards in the region. Asia-Pacific is projected to grow at a substantial rate over the forecast period followed by Europe.
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Automotive Segment Holds the Largest Share in the Market
According to the analyst, the scope of the market is analyzed on the basis of grade and end-user. Based on the grade the study includes dual-phase, transformation-induced plasticity, complex phase, and other grades. Based on end-user the study includes construction, automotive, aviation & marine, and other end-users. The automotive segment dominates the global advanced high strength steel market. To increase fuel efficiency by reducing weights the high standard steel is used for manufacturing the body panels of the automobiles. The advanced high strength steel reduces the weight of the vehicle by around 60% and provides high impact strength which fuels the growth for the global advanced high standard steel market.
Leading Companies in the Market
Based on the analysis of the market the leading companies in the study include AK Steel Corporation, Tata Steel Limited, ArcelorMittal S.A., NanoSteel Co., MTL Advanced Ltd., Baoshan Iron and Steel Co., Ltd., Kobe Steel Ltd., Nucor Corporation, Nippon Steel Corporation, JFE Steel Corporation, and other companies. In November 2019, ArcelorMittal announced its approved plans to acquire Essar Steel India Limited ('ESIL'). In June 2019, Tata Steel acquired Bhushan Steel via his wholly-owned subsidiary called, Bamnipal steel Limited through the resolution under the Insolvency and Bankruptcy Code (IBC).
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About Infinium Global Research
Infinium Global Research provides in-depth insight regarding the market, its trends, indicators, and factors that drive and restrain the growth of the market. IGR expertise in the analysis of the market growth using analytical tools, that were also used to analyze the market for the Advanced High Strength Steel market. Other than, chemical and materials IGR also deals in the field of agriculture, food and beverage, aerospace and defense, automotive, healthcare and medical devices, consumer goods and packaging, energy, infrastructure and mining, ICT, semiconductors and electronics and industrial automation.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the advanced high strength steel.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
