Advanced High-strength Steel Market - Forecast(2024 - 2030)

Report Code: CMR 82149 Report Format: PDF + Excel
Advanced High-strength steel Market size is forecast to reach $37.78 billion by 2025 after growing at a CAGR of 12% during 2020-2025. The consumption of high strength steels in the automotive sector to improve the fuel efficiency is driving the overall market growth. The other growth factor is construction industry which is using high strength steel for ensuring overall strength and improve high safety feature of buildings. 

Report Coverage

The report: “Advanced High-Strength Steel Market- Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Advanced High Strength Steel   Industry. 

By Grade: Dual Phase, Transformation induced plasticity, Twinning-induced Plasticity, Complex Phase, Martensitic, Hot-formed, Ferritic-bainitic, Post forming heat trated steels, Others
By End User: Automative, Construction (Residential, Independent Homes, Row Homes, Large Apartment Buildings) Commercial (Hospital, School, Airport, Others) Aerospace, Marine, Mining, Others
By Geography: NorthAmerica, South America, Europe, APAC, RoW

Key Takeaways

  • Asia-Pacific dominates the high-strength steel market owing to increasing demand from automotive and construction sector.
  • Physical attributes such as ductility, formability, and easy to weld, contribute towards the growth of advanced high strength steels.  
  • With advanced high-strength steel demonstrating tensile strengths twice that of high-strength steel, it would appeal to the automotive market even if it didn’t decrease weight.
  

By Grade – Segment Analysis

Dual Phase (DP) segment held the largest share in the advanced high strength steel Market in 2019 as it is widely used in automobiles. In the year 2018, Chevrolet Volts used Advance High-Strength steel in the frame of its automobile. Suzuki the Japanese automobile company frequently uses the Advance high-strength steel in its automotive body part. For its property of being lighter, many US car Brands like Ford, Lincoln, Ram are using Advance High- Strength steel in the frame of its automobile. The COVID-19 outbreak has exposed several challenges for the automotive sector. Governments globally are preparing for a broader spread of the virus. South Korea, Italy and Japan are the most affected among the major industrialized economies. Consequently, 80 percent of automotive and related companies report that Coronavirus will have a direct impact on their 2020 revenues. 78 percent of companies do not have enough staff to run a full production line. However, more than 80 percent of the world’s automotive supply chain is connected to China. In January 2020 China’s car sales plunged by 18 percent. The China Passenger Car Association (CPCA) considers that the first two-month sales could decline by 40 percent or more compared to the same period in 2019. Production shortfalls resulting from supply chain disruptions in China will impact global automakers. The impact of COVID-19 on automotive sector will directly affect the market growth of dual phase grade in 2020. But after this year it will grow at a steady rate in 2021-2025.

By End User - Segment Analysis

Automotive sector has been the primary market for Advanced High-strength steel in 2019 growing at a CAGR OF 13.2%.  The growth of the advanced high-strength steel market can be attributed to the rise in production of automobiles. It is expected that the amount of high strength steels used in the production of automobiles will double in the next 15 years. According to International Organization of Motor Vehicle Manufacturers the total production of automobile (commercial as well as Personal) in Asia-Pacific in the year 2018 was 52,449,078 units compare to 53,395,211 units in 2017. The increase in the global automobile production is a major factor leading to the growth of advanced high-strength steel in terms of volume across the globe. Construction industry is the second major market for the Advance-high strength steel. The steel rods which are used in the construction provide long-lasting durability and strength to the buildings. Many of the Commercial buildings in the United States and China are incorporating advance-high strength steel to provide the strength to the buildings as per requirement. According to world economic forum the Middle East and North Africa region is undergoing transformation. The rapid urbanization trend will boost the advanced high strength steel market which is primary thing in construction sector. 

Geography - Segment Analysis

APAC dominates the advanced high-strength steel market with a share of more than 58%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the aviation and automotive industries. According to the World Steel Association, on an average 95 million vehicles are being produced world-wide every year. Furthermore, Steel used per vehicle is 900kg on average. Advanced High-Strength Steels are now used for nearly every new vehicle design. Steel makes up more than 50% of today’s vehicles. Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Bank’s (ADB) annual flagship economic publication. The report forecasts regional growth of 2.2% in 2020, a downward revision of 3.3 percentage points relative to the 5.5% ADB had forecast in September 2019. Growth is expected to rebound to 6.2% in 2021, assuming that the outbreak ends, and activity normalizes. The impact of COVID-19 will directly affect the economy of Asia-pacific which lead to hinder the market growth of advanced high-strength steel in the year 2020. But after this year it will grow at a steady rate in 2021-2025.

Drivers – Advanced High-strength steel market

  • Mass consumption of High-strength steel in Automotive and Construction Industries

The increase in global automobile production is a major factor which influence the growth of Advanced High-strength steel market across the globe. Advanced high-strength steels (AHSS) are stronger, lighter, and produced with light life cycle impact, helping automakers decrease a vehicle’s life-long carbon footprint. The manufacturing body panels of automobiles increases their fuel efficiency by reducing their weight by approximately 60%. This, in turn, contributes to the growing demand for high strength steels from the automotive industry.

According to the World Economic Forum the Middle East and North Africa region is undergoing a transformation of urbanization trend that will see a very large number of people moving to key cities. The construction industry in these regions are increasing at the rate of 10%. Thus, it will augment the consumption and growth of advanced high- strength steel in Middle East and North Africa regions. 

  • Rise in the Consumption of Advance High-strength steel in Aerospace Industry 

The increase in the growth of global Aerospace Industry in last two decade is another major factor up surging the consumption of Advance High-strength steel. The parts of wing, engine which generate thrust in plane is constructed using Advance High-strength steel. Some major parts of rocket, drone is also constructed using Advance High-strength steel.

Challenges – Advanced High-strength steel market

  • High Manufacturing Cost can restrict the Growth of the Market

The manufacturing cost of Advance High-strength steel is high. According to the US Automobile Corporation, 35% of the cost is expend on the production of the frame of automobile. This frame is made of Advance high strength steel which ultimately increase the price of automotive. In present, there is not any substitute to reduce the price in production of Advance High-Strength Steel. 

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Advanced High-strength steel market. In 2019, the market of Advanced High-strength steel has been consolidated by the top five players accounting for xx% of the share. Major players in the Advanced High-strength steel Market are ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd and among others. 

Acquisitions/Technology Launches 

  • In December 2019, HBIS Group and POSCO Group signed a Memorandum of understanding (MoU) for the initiation of a joint venture to develop, produce, and sell high-end steel products to the automotive industry of China.
  • In May 2019, United States Steel Corporation has announced an investment of $1 billion in one of its manufacturing unit at Mon Valley to increase the production of Advanced High-strength steel.

1. Advanced High-strength Steel Market - Overview
        1.1 Definitions and Scope
2. Advanced High-strength Steel Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Advanced High-strength Steel Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Advanced High-strength Steel Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Advanced High-strength Steel Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Advanced High-strength Steel Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Advanced High-strength Steel Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Advanced High-strength Steel Market - By Product (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Advanced High-strength Steel Market - By Grade (Market Size -$Million / $Billion)
9.1 Dual Phase
9.2 Transformation-Induced Plasticity
9.3 Complex Phase
10. Advanced High-strength Steel - By End User (Market Size -$Million / $Billion)
10.1 Automotive
10.2 Construction
11. Advanced High-strength Steel- By Geography (Market Size -$Million / $Billion)
        11.1 Advanced High-strength Steel Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Advanced High-strength Steel- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Advanced High-strength Steel- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Advanced High-strength Steel - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Advanced High-strength Steel - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Advanced High-strength Steel Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Advanced High-strength Steel Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Advanced High-strength Steel Market - Key Company List by Country Premium
15. Advanced High-strength Steel Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Ak Steel Holding Corporation
        15.3 Arcelormittal Limited
        15.4 Baoshan Iron Steel Company Limited
        15.5 Kobe Steel, Ltd
        15.6 Nucor Corporation
        15.7 Ssab Ab
        15.8 Steel Corporation
        15.9 Tata Steel Limited
        15.10 The Nanosteel Company
        15.11 Wec Group Ltd
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Advanced High-strength Steel Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Advanced High-strength Steel Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
1.1 Dual Phase Market 2023-2030 ($M) - Global Industry Research
1.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Global Industry Research
1.3 Complex Phase Market 2023-2030 ($M) - Global Industry Research
2.Global Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
2.1 Automotive Market 2023-2030 ($M) - Global Industry Research
2.2 Construction Market 2023-2030 ($M) - Global Industry Research
3.Global Advanced High-Strength Steel Market, By Grade Market 2023-2030 (Volume/Units)
3.1 Dual Phase Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Transformation-Induced Plasticity Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Complex Phase Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Advanced High-Strength Steel Market, By End User Market 2023-2030 (Volume/Units)
4.1 Automotive Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Construction Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
5.1 Dual Phase Market 2023-2030 ($M) - Regional Industry Research
5.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Regional Industry Research
5.3 Complex Phase Market 2023-2030 ($M) - Regional Industry Research
6.North America Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
6.1 Automotive Market 2023-2030 ($M) - Regional Industry Research
6.2 Construction Market 2023-2030 ($M) - Regional Industry Research
7.South America Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
7.1 Dual Phase Market 2023-2030 ($M) - Regional Industry Research
7.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Regional Industry Research
7.3 Complex Phase Market 2023-2030 ($M) - Regional Industry Research
8.South America Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
8.1 Automotive Market 2023-2030 ($M) - Regional Industry Research
8.2 Construction Market 2023-2030 ($M) - Regional Industry Research
9.Europe Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
9.1 Dual Phase Market 2023-2030 ($M) - Regional Industry Research
9.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Regional Industry Research
9.3 Complex Phase Market 2023-2030 ($M) - Regional Industry Research
10.Europe Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
10.1 Automotive Market 2023-2030 ($M) - Regional Industry Research
10.2 Construction Market 2023-2030 ($M) - Regional Industry Research
11.APAC Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
11.1 Dual Phase Market 2023-2030 ($M) - Regional Industry Research
11.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Regional Industry Research
11.3 Complex Phase Market 2023-2030 ($M) - Regional Industry Research
12.APAC Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
12.1 Automotive Market 2023-2030 ($M) - Regional Industry Research
12.2 Construction Market 2023-2030 ($M) - Regional Industry Research
13.MENA Advanced High-Strength Steel Market, By Grade Market 2023-2030 ($M)
13.1 Dual Phase Market 2023-2030 ($M) - Regional Industry Research
13.2 Transformation-Induced Plasticity Market 2023-2030 ($M) - Regional Industry Research
13.3 Complex Phase Market 2023-2030 ($M) - Regional Industry Research
14.MENA Advanced High-Strength Steel Market, By End User Market 2023-2030 ($M)
14.1 Automotive Market 2023-2030 ($M) - Regional Industry Research
14.2 Construction Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
2.Canada Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
3.Mexico Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
4.Brazil Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
5.Argentina Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
6.Peru Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
7.Colombia Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
8.Chile Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
9.Rest of South America Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
10.UK Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
11.Germany Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
12.France Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
13.Italy Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
14.Spain Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
15.Rest of Europe Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
16.China Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
17.India Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
18.Japan Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
19.South Korea Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
20.South Africa Advanced High-strength Steel Market Revenue, 2023-2030 ($M)
21.North America Advanced High-strength Steel By Application
22.South America Advanced High-strength Steel By Application
23.Europe Advanced High-strength Steel By Application
24.APAC Advanced High-strength Steel By Application
25.MENA Advanced High-strength Steel By Application
26.Ak Steel Holding Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Arcelormittal Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Baoshan Iron Steel Company Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Kobe Steel, Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Wec Group Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.The Nanosteel Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Nucor Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Ssab Ab, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Tata Steel Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Steel Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)