DUBLIN--(BUSINESS WIRE)--The "Global High Strength Steel Market - Segmented by Product Type, Application and Geography - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global high strength steel market is expected to witness a CAGR of 7.9% during the forecast period, 2018-2023.
The growth of the market for high strength steel is majorly attributed to the growing automotive industries globally. There has been a rapid increase in the automotive production in countries, including China, Brazil, India, Japan, and Australia. High strength steel is preferred in the automotive industry since its physical properties allow high formability, ductility, and is easy to weld.
Although high strength steel offers cost-effectiveness, provides better performance, and weight reduction for automobile components, there are several restraining factors associated with the production of high strength steel. These factors include high production costs and technological constraints, which may restrain the market growth to a certain extent during the forecast period.
In terms of consumption in 2017, Asia-Pacific held the largest share. There are several ongoing industrial and infrastructural projects in the region, which serve as important opportunities for the high strength steel market. Additionally, the rapidly increasing demand for lightweight vehicles and electronic vehicles in the region is further expected to augment the growth of the high strength steel market during the forecast period.
- China Steel Corporation
- CITIC-Heavy Industries Co. Ltd
- JSW Steel
- Nucor Corporation
- POSCO SAIL S.A.
- Tata Steels ltd.
- United States Steel Corporation
- Voestalpine AG
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Future of the Market
8. Competitive Landscape
9. Company Profiles
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