High Strength Steels Market Soaring At 8.2% CAGR To Hit $21.17Bn By 2021

The global high strength steels market size is forecast to grow from USD 14.27 billion in 2015 to USD 21.17 billion by 2021, at a CAGR of 8.2% from 2016 to 2021 dominated by automotive segment while dual phase is the fastest-growing segment.

The increasing applicability of high strength steels across varied end-use industries, technological advancements, and the growing demand of high strength steels in the Asia-Pacific region are driving the high strength steels market.

Dual phase is the fastest-growing segment of the high strength steels market by type, in terms of value. These steels offer outstanding strength. They are widely used in the automotive end-use industry. Some of the major advantages of dual phase steels are that they have high tensile strength, excellent cold workability, and good weld ability.

Complete report on global high strength steels market spread across 182 pages, profiling 10 companies and supported with 80 tables and 62 figures is now available at http://www.rnrmarketresearch.com/high-strength-steel-market-by-type-high-strength-low-alloy-steels-dual-phase-steels-bake-hardenable-steels-carbon-manganese-steels-and-others-by-end-user-automotive-construction-and-others-by-region-gl-st-to-2021-market-report.html .

The automotive segment is the largest segment of the global HSS market, by end-use industry. High strength steels are fuel efficient as it is lightweight in nature. HSS also provides safety owing to its strength, and emits minimum amount of CO2. Due to these added benefits of HSS, conventional steel is likely to be replaced by HSS in the automotive industry.

The HSLA type segment accounted for the largest share of the global high strength steels market, in terms of volume. This large share is primarily attributed to the better mechanical properties exhibited by HSLA as compared to other types of high strength steels. In sheet or plate form, HSLA steels have low carbon content and provide improved weldability as well as good resistance and formability.

Asia-Pacific is the fastest-growing region for the high strength steels market, globally. The region’s growing industrialization and infrastructural developments offer enormous opportunities for the high strength steels market. In addition, the increasing middle class population, which has led to urbanization and rise in the manufacturing sector, drives the demand of high strength steels in this region.

As a part of qualitative analysis, the research provides a comprehensive review of the major high strength steels market drivers, restraints, opportunities, challenges, and regulations. It also discusses competitive strategies adopted by market players across different regions. The companies profiled in this report are Arcelor Mittal (Luxembourg), United States Steel Corporation (U.S.), Voestalpine AG (Austria), SSAB (Sweden), Shandong Steel Group (China), SAIL (India), Tata Steels (India), Nippon Steel and Sumitomo Metal Corporation (Japan), POSCO (South Korea), Baosteel Group (China), Severstal JSC (Russia), ThyssenKrupp AG (Germany), and others.

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To determine the market size of various segments and sub-segments of the high strength steels market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (30%) and Tier 3 (50%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (30%), Directors Level (10%) and others (60%) from various key organizations operating in the global high strength steels market. The primary interviews were conducted worldwide covering regions such as North America (25%), Europe (20%), APAC (40%), South America (10%) and MEA (5%).

On a related note, another research on Steel Processing Market Trends & Forecast to 2020 says, the global steel processing market is estimated to exhibit a lucrative growth potential of about 2.16% for the next five years. Construction as an end-user segment is expected to dominate the global steel processing market. Asia-Pacific would be the largest market for steel processing because of the willingness of companies in the region to take up capital intensive projects, along with the availability of technical expertise. This report covers the global steel processing market in major regions, namely North America, Europe, Asia-Pacific, Latin America, and RoW. Companies like ArcelorMittal (Luxembourg), Baosteel Group Corporation (China), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), and JFE Holdings, Inc. (Japan) have been profiled in this 256 pages research report at http://www.rnrmarketresearch.com/steel-processing-market-by-type-carbon-steel-alloy-steel-shape-of-steel-long-flat-and-tubular-end-user-industry-construction-shipping-energy-packaging-consumer-appliances-housing-automo-market-report.html .

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