High strength steel is defined as steel that has yield strength ranging between 210-550 MPa and a tensile strength 270 to 700MPa. On the basis of mechanical properties steel is classified under the various categories such as high strength, advanced high strength and ultra-high strength steel. High strength steel has high demand in applications which require excellent strength and low weight properties. Moreover, this type of steel has popular demand in application to improve the mechanical properties in various end use industries including automotive, construction, heavy machinery, ship building, aerospace, energy & power, packaging, consumer goods, and among others. Additionally, high strength steel also enhances performance of the final products as it provides wear resistance, increase durability and improves overall fuel efficiency. High strength steel also reduce production cost, provide environmental & financial advantages in various application of automotive and construction sectors such as structural designing of auto parts, lifting equipment, materials handling, trailers and others.
Europe high strength steel market is expected to reach at a CAGR of 8.0% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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The ‘India Europe High Strength Steel’ market report by Data Bridge Market Research also studies and analyzes other market segments like end user types, applications and demography which is extremely helpful in analyzing consumer demand and preferences specific to the market. When it comes to segment highlighting competitors or key players, importance is given to company profiles, product portfolios, market value, production capacity, demand and consumption. This information provides a better understanding about the ‘India Europe High Strength Steel’ market development. This data has lot of significance for new business personnel or businesses entering or launching new segments and arms.
Nippon Steel & Sumitomo Metal Corporation
United States Steel
JSW Steel Limited
AK Steel Corporation
Angang Steel Company Limited
Shanghai Baosteel Chemical Co., Ltd. (A Subsidiary Of Baosteel Co., Ltd)
Shandong Iron And Steel Group Co., Ltd.
BENXI STEEL GROUP
JFE Steel Corporation
Major growing sectors under the market segmentation are as follows:
In grade type, the High Strength Low alloy dominate the market and holds the majority of share in the market as it has low carbon content and improved toughness and enhance corrosion resistance of the final products. However, dual phase is expected to grow with the highest CAGR owing to its low yield to strength ratio which propels its demand in automotive, construction, heavy machinery and other end use industry.
In product type, the Cold rolled high strength steel dominate the market and holds the major share in the market owing to their easy handling, excellent dimensional accuracy and good finish of the final product.
In end use industry, the automotive is dominating in the market as high demand for high strength steel in light weight application. Rising production of high end cars and light weight vehicles is anticipated to strengthen the consumption of high strength steel in coming years.
Europe high strength steel market is segmented into three notable segments which are Grade type, product type and end users.
On the basis of grade type, the market is segmented into high strength low alloy, dual phase, transformation inducted plasticity, bake hardenable, rephosphorised steel, interstitial free and others
On the basis of product type, the market is segmented into cold rolled, hot rolled, metallic coated and direct rolled.
On the basis of end users, the market is segmented into automotive, construction, heavy machinery, ship building, aerospace, energy & power, packaging, consumer goods and others.
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