Pune, India -- (SBWIRE) -- 01/21/2020 -- A recent 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. According to the report, 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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Advanced High Strength Steel Market: Insights

Advanced high strength steel is considered to be a new generation of steel. It provides high strength and durability during maintaining formability in the manufacturing process. Advanced high strength steel offers enhanced fuel efficiency, quality, and affordability. The key companies operating in the global advanced high strength steel market are focusing on strategic mergers, acquisitions, and collaborations that maximize their market share. For instance, in 2018, ArcelorMittal acquired Essar Steel to focus on increasing efficiency and cost-cutting. ArcelorMittal is one of the best companies in building advanced high strength steel for automobiles.

Effective Characteristics of High Strength Steels Stimulate the Growth of Advanced High Strength Steel Industry

The growing consumption of high strength steel in the construction and automotive industries boosts the growth of advanced high strength steel market. The effective characteristics of high strength steels stimulate the growth of advanced high strength steel market. The rising urbanization and industrialization drive the growth of advanced high strength steel market. The increasing aerospace industry globally contributes to the growth of the advanced high strength steel market.

In addition, increasing the adoption of lightweight components in automobiles and growing consciousness regarding CO2 emissions propel the growth of advanced high strength steel markets. On the other side, high raw material prices promote production costs of advanced high strength steel hindering the growth of advanced high strength steel market. Moreover, increasing the use of high strength steel in developing countries creates numerous opportunities in the global advanced high strength steel market.

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Asia-Pacific is Expected to Grow with a Healthy CAGR Over the Forecast Period

Based on geography, the global advanced high strength steel market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have a premium share in the global advanced high strength steel market. The surge in demand for lightweight vehicles and rising fuel economy standards in North America contribute to the growth of the advanced high strength steel market in North America. Asia-Pacific region is expected to grow with a healthy CAGR over the forecast period. Europe is showing growth in the global advanced high strength steel market.

Advanced High Strength Steel Market: Segmentation

The report on the global advanced high strength steel market covers segments such as grade and end-user. On the basis of grade, the sub-markets include dual-phase, transformation-induced plasticity, complex phase, and other grades. On the basis of end-user, the sub-markets include construction, automotive, aviation & marine, and other end-users.

Advanced High Strength Steel Market: Major Key Players

The report provides profiles of the companies in the market such as 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.

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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The advanced high strength steel market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the advanced high strength steel market.